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Bayani Mills
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🫂 Bitcoin Sydney Meetups 🇦🇺 Advancing Bitcoin in Australia • BitcoinSydney.org • BitcoinMediaWatch.org • BitcoinIndustryBody.org.au

What is Bitcoin?

Bitcoin is made up of at least two concepts:

⚡️ The Bitcoin Network

The network is a little like the global network of banks, but instead of each bank having their own secret copy of an error-prone ledger that requires each bank and their customers to trust other banks and their customers, the bitcoin network uses maths to validate the availability of funds from many, distributed copies of a single transparent list of transactions, providing fast global payment finality.

Designed using a range of cryptographic technologies that were developed over several decades, the Bitcoin network included concepts used in earlier attempts of developing an electronic cash.

What was different this time was an innovative implementation of a decentralised time-stamp system, solving what is known as “the double-spend” problem.

With this, a way to create digital scarcity was discovered.

This means it is both not possible to create counterfeit bitcoin, nor spend bitcoin twice.

As the network is completely open, it is permissionless. It cannot be intercepted or sanctioned - anyone can use it.

There is no trust required to check if you have received money sent to you, nor do you need to trust a bank to not steal money sent to you.

It does not discriminate based on gender, ethnicity, class, age, religious, political or sexual preferences.

Bitcoin is for everyone, including your enemies.

It’s money that can’t be fucked with.

⚡️The ASSET

As an asset class, Bitcoin is simply a form of money.

As money, Bitcoin is used worldwide as a medium of exchange, to trade goods, services, or information.

It differs because it has attributes that arise from the way the network operates, and through the way it was coded.

For instance, money as most people know it fundamentally requires you to trust others to not irresponsibly manipulate or inflate the monetary supply.

But alas, “the money printer” gets turned on. 🖨️

That debasement results in fiat money losing it’s value - and we experience this as part of everyday inflation - mostly without a second thought other than a little bit of complaining about the cost of eggs, milk, rent, or the repayments on a mortgage. 💸

While Dollars are inflated by central banks and increasingly “multiplied” by fractional reserve lending, bitcoin has a max. supply of 21,000,000 whole bitcoin.

This makes it “hard money”.

Again - It’s money that can’t be fucked with.

With all that said:

Don’t Trust - Verify.

Find out why.

The Bitcoin Technical Whitepaper:

🧾 bitcoin.org/bitcoin.pdf

Why Bitcoin, not crypto?

There are only a few zero-to-one innovations you’ll get to see develop during your time.

• Cars.

• Electricity.

• Telephones.

• Space Travel.

• The Internet.

• Bitcoin

The few well-meaning experiments copying the code of bitcoin have since the first “altcoins” been overshadowed by a plethora of unregistered securities that were nothing but scammy cash-grabs.

It is simple - Don’t shitcoin.

Ignore the noise.

Focus on the signal.

🟠

What's the difference between a banker and a vampire? One is a bloodsucking parasite, and the other is a vampire!

Just found this hashtag!!

Pretty cool - alas, I am on iOS

What happens after it expires?

I understand I can keep Damus at current release, just can’t re-download?

Does that mean I can’t re-download when TF expires?

Replying to Avatar The Nostr Report

THE NOSTR REPORT

#BITCOIN IS MAGIC

June 17, 2023

Block Height: 794,821

Moscow Time: 37:65 ⚡/ $

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🎙️Quote of the Day🎙️

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Is this magic? 😁💜⚡️🫂🤙

nostr:npub1aeh2zw4elewy5682lxc6xnlqzjnxksq303gwu2npfaxd49vmde6qcq4nwx

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🚨Headline nostr News🚨

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In case you missed it yesterday, the latest episode of #Plebchain Radio featuring nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s and nostr:npub1h50pnxqw9jg7dhr906fvy4mze2yzawf895jhnc3p7qmljdugm6gsrurqev is live on Fountain.fm. In this episode they discussed the latest developments between Damus and Apple with hosts nostr:npub1tvqc82mv8cezhax5r34n4muc2c4pgjz8kaye2smj032nngg52clq0rkrq4 and nostr:npub1hqaz3dlyuhfqhktqchawke39l92jj9nt30dsgh2zvd9z7dv3j3gqpkt56s

https://fountain.fm/episode/vT44m6oe2PdTzvvDZxUF

nostr:note1esc40wrwy07d2xfcfetfk32h073dkvxs7wc5927wl4rlta6l4hfqsse4st

nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle explains that the Lightning Network is public payments infrastructure that can be used "to build a more equitable, inclusive, and innoative world." Watch his interview with Bloomberg. Video in linked note.

nostr:note18p3a5epqjertz3nlumjlz8t8fm676jegma2ee2ug0n9qyeqpq4ksnsjtzf

nostr:npub1atc6zwsr9nnyn0rq72g2qqznr3x4yhm20g50wsexjukygwrg9atqh0lssy notes that Plebstr is #28 in Czechia in social networking apps 🚀

nostr:note1tmk46magzu5swqqrr8nkjmd0qv3gjkmj2szpvdhs8klwjt97xk9qglzkw4

nostr:npub18ams6ewn5aj2n3wt2qawzglx9mr4nzksxhvrdc4gzrecw7n5tvjqctp424 shares some observations while at the Canadian Bitcoin Conference today giving a presentation on #nostr 🧡💜

nostr:note17x652ndgwylzunz9rtcemmyu08tylystyzhhp23ax2kfccckky5q2vgdta

nostr:npub1gcxzte5zlkncx26j68ez60fzkvtkm9e0vrwdcvsjakxf9mu9qewqlfnj5z Asks, “How do we support small creator accounts?” sparking a great discussion in the replies on what it would take for creators to earn revenue on #nostr.

nostr:note1n3dnn0tfkm34srs8w6ttv78w7r29e55mpgzuan7v2ph4tmt9t40ssdg7gg

nostr:npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9 shares some thoughtful posts on the state of value-for-value and #zaps on #nostr, and what is needed to make nostr a place for creators, saying that nostr needs magnitude and scale, and that “The point of value4value is to value the content itself, not your attention around the content.”

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💻nostr Tech💻

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New TestFlight update to nostr:npub1plstrz6dhu8q4fq0e4rjpxe2fxe5x87y2w6xpm70gh9qh5tt66kqkgkx8j adds several new features, including direct image uploads, tagging users in a new post, full text search, support for quotes, and ability to minimize new post dialog while editing without losing the draft.

nostr:note1dj0magu936x5hnsrupv8jxmgmf69542j6rw23pklfplxuhvpldvscwls88

nostr:npub1l2vyh47mk2p0qlsku7hg0vn29faehy9hy34ygaclpn66ukqp3afqutajft Highlighter.com will now show relay metadata.

nostr:note15x4hp4kftjt6c0qk7k8ccugls8ka5szj9pxwszj5gtmsdgjgsjzqey96zu

nostr:npub1vp8fdcyejd4pqjyrjk9sgz68vuhq7pyvnzk8j0ehlljvwgp8n6eqsrnpsw shows off his nostr setup. Reply with a pic of how you browse #Nostr (don’t dox)!

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⚡nostr Business⚡

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nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n Check out this #BlockstreamTalk bonus episode with the team from nostr:npub1psm37hke2pmxzdzraqe3cjmqs28dv77da74pdx8mtn5a0vegtlas9q8970 and learn more about swaps between Liquid and Lightning #Bitcoin layer 2’s

nostr:note1l7se54nyltnvt58h8h35fxj0km53ayvm9t4aj4n4ycfmmlge0wxqskyf4j

REUTERS: Binance and Binance.US have entered into an agreement with the SEC to ensure that U.S. customer assets remain in the US until the lawsuit filed by SEC is resolved.

https://www.reuters.com/technology/urgent-binance-sec-strike-deal-move-all-us-customer-funds-wallet-keys-back-2023-06-17/

Reddit is reaching out for defectors, threatening to replace mods who closed their communities in protest if they don’t reopen them.

https://www.theverge.com/2023/6/16/23763538/reddit-blackout-api-protest-mod-replacement-threat

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🔥🔥Meme of the Day🔥🔥

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nostr:npub1vp8fdcyejd4pqjyrjk9sgz68vuhq7pyvnzk8j0ehlljvwgp8n6eqsrnpsw They don't know...

nostr:note1v7ddpmnrs4z8f7m33x5tsqchw05733j0mwudgktkylf4ccn9xlesus3s74

Stay Classy Nostr

Is there an auction style service on NOSTRA? I’ve got some NFL cards I would look at offloading for some Sats.

#NFLstr #RaiderNation