Subnostr

PoW doesnt work

The BTC Network isnt sustainable in the long run.

At some point the amount of energy required to mine the next block will be infinite, there wont be enough energy in our solar system to create the next block with in a 10min slot. Therefore the time to create the next block will increase exponentially.

The value of BTC represents the value of the Network. The BTC network is VERY secure, thanks to the PoW consensuses, but again.. this will not be sustainable in the long run

I ask myself:

"Why create a network like this? Where failure is inevitable."

Unknown 2y ago

PoW doesnt work

The BTC Network isnt sustainable in the long run.

At some point the amount of energy required to mine the next block will be infinite, there wont be enough energy in our solar system to create the next block with in a 10min slot. Therefore the time to create the next block will increase exponentially.

The value of BTC represents the value of the Network. The BTC network is VERY secure, thanks to the PoW consensuses, but again.. this will not be sustainable in the long run

I ask myself:

"Why create a network like this? Where failure is inevitable."

Unknown 2y ago

PoW doesnt work

The BTC Network isnt sustainable in the long run.

At some point the amount of energy required to mine the next block will be infinite, there wont be enough energy in our solar system to create the next block with in a 10min slot. Therefore the time to create the next block will increase exponentially.

The value of BTC represents the value of the Network. The BTC network is VERY secure, thanks to the PoW consensuses, but again.. this will not be sustainable in the long run

So have to ask yourself:

"Why create a network like this? Where failure is inevitable."

Replying to

BITCOINSAFARITZ

Thanks for the point of correction and make me understand and learn too 🙏🏻🙏🏻🙏🏻🙏🏻

Unknown 2y ago

https://nostrcheck.me/media/public/901ab9cef4f11cf8bbbe26c284c23fb7611d9ee186fcce2c0a600e224928c626.webp

Replying to

Jeff

I just typed out like 10 paragraphs and the app just closed on me and I lost it all.

Super pissed 😡

Unknown 2y ago

I feel your pain

Replying to

BITCOINSAFARITZ

MONDAY

WORD OF THE DAY "KEYS"

If you have been or are just getting into the Crypto space you must have heard the saying : Not your keys, not your wallet.

So let's talk "Keys"😊

There are two categories of Keys:

🟥PRIVATE KEYS

🟨PUBLIC KEYS

🟥PRIVATE KEY:

You can think of a private key as a PASSWORD to access your bank account.

Private Key format:

5x43e0459f9337dbd66477bd0a0afe 1353bfc957b5d8557d593c4c

The private key allows you to send bitcoin/crypto to another address.

The private key creates the PUBLIC KEY.

Note: Anyone with the private key can access the associated wallet address.

You should keep the private key safe & secure AT ALL TIMES!

You cannot send crypto with just the public key.

🟨PUBLIC KEY

You can think of your public key as your bank account number.

Public Key format

03k4999bff003949e094b3949c3948f65d349dd358c8940c8e2329

Since the PUBLIC KEY is very long, it is used to cryptographically create the WALLET ADDRESS.

The wallet address is a SHORTENED version of your public key.

You can send people your wallet address in order to receive crypto.

🟩SEED PHRASE

A seed phrase serves as a backup password for cryptocurrency wallets, consisting of 12 to 24 words to retrieve the private key.

These words cryptographically generate multiple private keys, connecting them to public keys and wallet addresses in a one-directional process.

For example, if you know the private key, you can calculate the public key.

However, if you know only the public key, it's impossible to calculate the private key.

This is why it's safe to send anyone your public address without any fear.

Hope you learnt something new today 😊

Unknown 2y ago

Public Key = Read Only Permission

Private Key = Read and Write Permission

'Wallet' isn't a accurate description, 'Account' is a better description.

Crypto isnt inside a 'Wallet', you can have an Account that has certain permissions on a network

Unknown 2y ago

Weird. I've been fantasizing about a platform like this for a while now (for about the past 2 years).

A decentralized platform

Today I heard about Nostr for the first time..

1 word:

AMAZING!!!

This is how it should be

But I do believe there should be a type of governing, to prevent misconduct.

YouTube, Facebook, X(Twitter) aka YouTwistFace.com

All have terms and regulations

I wonder how it will look with a protocol like this.. where you can create a decentralized platform... and where everyone can post what ever they want