#Bitcoin Update: Market Cap: ~$1.2 Trillion ₿1 = $0.061 Million $1 = 1630丰 ₿1 = ₿1 @Dan

𝗪𝗵𝘆 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝗡𝗼𝘁𝗵𝗶𝗻𝗴 𝗟𝗶𝗸𝗲 𝗧𝘂𝗹𝗶𝗽𝘀 In the 17th-century, there was a brief period in the Dutch Republic known as the Tulip Mania, in which tulip bulb prices skyrocketed and then collapsed, resulting in widespread financial losses. An oft-repeated and flawed argument is that #Bitcoin is just another bubble like tulips, or the South Sea company of the following century. 𝘕𝘰𝘵𝘩𝘪𝘯𝘨 could be farther from the truth. Here’s why👇 Bitcoin's evolution showcases 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗲𝗱 𝗴𝗿𝗼𝘄𝘁𝗵 in adoption and price, distinct from the short-lived 17th-century tulip mania. Its rise mirrors that of leading tech firms, driven by 𝘢 𝘨𝘳𝘰𝘸𝘪𝘯𝘨 𝘶𝘴𝘦𝘳 𝘣𝘢𝘴𝘦 and 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘪𝘯𝘨 𝘢𝘤𝘤𝘦𝘱𝘵𝘢𝘯𝘤𝘦 among merchants and institutions, positioning it as a significant digital currency. Bitcoin's finite supply of 21 million coins, designed to prevent debasement via inflation, alongside its decentralized, secure, and transparent nature, 𝘀𝗼𝗹𝗶𝗱𝗶𝗳𝗶𝗲𝘀 𝗶𝘁𝘀 𝘀𝘁𝗮𝘁𝘂𝘀 𝗮𝘀 𝗮 𝘂𝗻𝗶𝗾𝘂𝗲 𝗮𝗻𝗱 𝗶𝗻𝘃𝗮𝗹𝘂𝗮𝗯𝗹𝗲 𝗮𝘀𝘀𝗲𝘁. Its Proof of Work ensures secure, immutable transaction records, operating on a peer-to-peer network that eliminates intermediaries. Critics often overlook the source of Bitcoin's value: the human desire for their time and labor to be represented in a scarce, divisible, portable, and fungible asset. Bitcoin's digital and decentralized attributes enhance these characteristics, 𝘧𝘶𝘳𝘵𝘩𝘦𝘳 𝘴𝘰𝘭𝘪𝘥𝘪𝘧𝘺𝘪𝘯𝘨 𝘣𝘪𝘵𝘤𝘰𝘪𝘯’𝘴 𝘱𝘭𝘢𝘤𝘦 𝘢𝘴 𝘵𝘩𝘦 𝘮𝘰𝘯𝘦𝘺 𝘰𝘧 𝘵𝘩𝘦 𝘧𝘶𝘵𝘶𝘳𝘦. Bitcoin serves as 𝗮 𝗵𝗲𝗱𝗴𝗲 𝗮𝗴𝗮𝗶𝗻𝘀𝘁 𝘁𝗵𝗲 𝘃𝘂𝗹𝗻𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 𝗼𝗳 𝘁𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝘆𝘀𝘁𝗲𝗺𝘀, offering a diversification tool against inflation, currency devaluation, and geopolitical risks. Its independence from conventional financial mechanisms renders it an appealing choice for safeguarding wealth. In short: Unlike the Tulip Bubble of the 17th century, Bitcoin's ongoing development and inherent qualities firmly establish it as much more than a speculative asset. Its properties and role as a financial system hedge underscore its 𝗶𝗿𝗿𝗲𝗽𝗹𝗮𝗰𝗲𝗮𝗯𝗹𝗲 𝘃𝗮𝗹𝘂𝗲 and 𝗽𝗲𝗿𝗺𝗮𝗻𝗲𝗻𝗰𝗲 in the global economy. @Hack0 Be sure to give this a 𝗟𝗶𝗸𝗲🤙, a 𝗦𝗵𝗮𝗿𝗲🔄, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it for later. And let me know your thoughts on this in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️ below.

𝗪𝗵𝗮𝘁 𝗖𝗼𝘂𝗹𝗱 𝘁𝗵𝗲 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗭𝗼𝗱𝗶𝗮𝗰 𝗠𝗲𝗮𝗻 𝗳𝗼𝗿 𝗕𝗶𝘁𝗰𝗼𝗶𝗻? Tomorrow the Chinese New Year begins, and we will exit the year of the 𝗪𝗮𝘁𝗲𝗿 𝗥𝗮𝗯𝗯𝗶𝘁, and enter the year of the 𝗪𝗼𝗼𝗱 𝗗𝗿𝗮𝗴𝗼𝗻. Whether or not you take the Chinese zodiac seriously, it can be fun to learn the different elements and animals of each year, and what they symbolize. Here is a glimpse of #Bitcoin through this lens👇 Bitcoin was both proposed and born in the year of the 𝗘𝗮𝗿𝘁𝗵 𝗥𝗮𝘁, which embodies the Rat's 𝘤𝘭𝘦𝘷𝘦𝘳𝘯𝘦𝘴𝘴 and 𝘢𝘥𝘢𝘱𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺, and the Earth’s 𝘴𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 and 𝘳𝘦𝘭𝘪𝘢𝘣𝘪𝘭𝘪𝘵𝘺. Bitcoin perfectly demonstrates the Earth Rat's characteristics of innovation, practical application, and the foresight to solve the problem of trust in the digital age. Bitcoin's origins in the Earth Rat year emphasizes its quiet strength and potential for growth. 𝗘𝘃𝗲𝗻 𝘁𝗵𝗲 𝗻𝗮𝗺𝗲 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻’𝘀 𝗰𝗿𝗲𝗮𝘁𝗼𝗿, 𝗦𝗮𝘁𝗼𝘀𝗵𝗶 𝗡𝗮𝗸𝗮𝗺𝗼𝘁𝗼, 𝗲𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹𝗹𝘆 𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲𝘀 𝘁𝗵𝗲 𝗘𝗮𝗿𝘁𝗵 𝗥𝗮𝘁 𝗰𝗼𝗻𝗰𝗲𝗽𝘁: “Satoshi” can be translated to mean “𝘸𝘪𝘴𝘥𝘰𝘮” or “𝘬𝘯𝘰𝘸𝘭𝘦𝘥𝘨𝘦”, which are both qualities of the Rat. “Nakamoto” can be translated to mean “𝘧𝘰𝘶𝘯𝘥𝘢𝘵𝘪𝘰𝘯” or "𝘴𝘰𝘶𝘳𝘤𝘦", which both describe the groundedness of the Earth element. 🌎🐀 Truly, Bitcoin is characterized by the qualities that those born in the year of the Earth Rat are said to have! 🤯 Tomorrow, however, begins the year of the 𝗪𝗼𝗼𝗱 𝗗𝗿𝗮𝗴𝗼𝗻. This could signify 𝗮 𝗽𝗲𝗿𝗶𝗼𝗱 𝗼𝗳 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗽𝗿𝗼𝘀𝗽𝗲𝗿𝗶𝘁𝘆 𝗳𝗼𝗿 𝗕𝗶𝘁𝗰𝗼𝗶𝗻. Dragons symbolize 𝘴𝘵𝘳𝘦𝘯𝘨𝘵𝘩 and 𝘭𝘶𝘤𝘬, and wood infuses these qualities with 𝘨𝘳𝘰𝘸𝘵𝘩 and 𝘳𝘦𝘯𝘦𝘸𝘢𝘭. This combination hints at an exciting year for Bitcoin, especially with the anticipated halving event. The halving is a significant event in Bitcoin, as 𝘪𝘵 𝘢𝘭𝘪𝘨𝘯𝘴 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘞𝘰𝘰𝘥 𝘋𝘳𝘢𝘨𝘰𝘯'𝘴 𝘦𝘯𝘦𝘳𝘨𝘺 𝘰𝘧 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘨𝘳𝘰𝘸𝘵𝘩. It increases bitcoin’s scarcity by changing the issuance of new coins from about 𝟵𝟬𝟬 𝗽𝗲𝗿 𝗱𝗮𝘆 to about 𝟰𝟱𝟬 𝗽𝗲𝗿 𝗱𝗮𝘆. This decrease of new supply causes prices to rise, and drives more value and innovation to the Bitcoin network. This beautifully reflects the Wood Dragon's blend of 𝘢𝘮𝘣𝘪𝘵𝘪𝘰𝘯 with 𝘢 𝘤𝘰𝘰𝘱𝘦𝘳𝘢𝘵𝘪𝘷𝘦 𝘴𝘱𝘪𝘳𝘪𝘵. 🪵🐉 As Bitcoin enters the year of the Wood Dragon, its journey showcases the enduring qualities of its birth in the year of the Earth Rat. 𝗧𝗵𝗲 𝗯𝗹𝗲𝗻𝗱 𝗼𝗳 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻, 𝘀𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆, 𝗮𝗻𝗱 𝗴𝗿𝗼𝘄𝘁𝗵 𝗽𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝘀 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝘀 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗳𝗼𝗿 𝗮 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹𝗹𝘆 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝘃𝗲 𝗽𝗲𝗿𝗶𝗼𝗱, embodying the best traits of these powerful zodiac symbols. Remember to give this a 𝗟𝗶𝗸𝗲🤙, and celebrate the Chinese New Year by 𝗦𝗵𝗮𝗿𝗶𝗻𝗴🔄 this and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸𝗶𝗻𝗴🔖 it for later (𝘵𝘩𝘦𝘯 𝘺𝘰𝘶’𝘭𝘭 𝘴𝘦𝘦 𝘪𝘧 𝘸𝘩𝘢𝘵 𝘪𝘵 𝘱𝘳𝘦𝘥𝘪𝘤𝘵𝘴 𝘧𝘰𝘳 𝘵𝘩𝘪𝘴 𝘺𝘦𝘢𝘳 𝘤𝘰𝘮𝘦𝘴 𝘵𝘳𝘶𝘦! 😉). What do you think about the Chinese New Year and its zodiac? Tell me in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗼𝗿 𝗧𝗶𝗺𝗲𝗰𝗵𝗮𝗶𝗻? If you’re new to #Bitcoin, you’ve likely heard of “𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯”, though you may not know what it is or how it works. And if you’ve come across the term “𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯”, then you may be even more confused. Let’s sort this out👇 The prevalent term for Bitcoin’s distributed ledger is “𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯”, yet the original name that Bitcoin's creator, Satoshi Nakamoto, gave it was “𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯”. 𝗧𝗵𝗶𝘀 𝗳𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝘁𝗲𝗿𝗺 𝘂𝗻𝗱𝗲𝗿𝘀𝗰𝗼𝗿𝗲𝘀 𝘁𝗵𝗲 𝘀𝗲𝗾𝘂𝗲𝗻𝘁𝗶𝗮𝗹 𝗮𝗻𝗱 𝗶𝗺𝗺𝘂𝘁𝗮𝗯𝗹𝗲 𝗻𝗮𝘁𝘂𝗿𝗲 𝗼𝗳 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝘄𝗶𝘁𝗵𝗶𝗻 𝗕𝗶𝘁𝗰𝗼𝗶𝗻, highlighting its progression through time as a one-way, irreversible system. A blockchain/timechain is not an especially disruptive technology or a “secret sauce” that somehow makes a system decentralized. In reality, 𝗶𝘁’𝘀 𝗻𝗼𝘁𝗵𝗶𝗻𝗴 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝗮 𝗹𝗲𝗱𝗴𝗲𝗿 𝗸𝗲𝗽𝘁 𝗯𝘆 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝗰𝗼𝗺𝗽𝘂𝘁𝗲𝗿𝘀, which agree on each update whenever it’s time for a new “page”, or block, to be added to the ledger. "Blockchain" has become a generic descriptor for various projects with distributed ledgers, though it's essential to recognize that 𝗻𝗼𝘁 𝗮𝗹𝗹 𝗲𝗺𝗯𝗼𝗱𝘆 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝗰𝗼𝗿𝗲 𝗽𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲𝘀, such as proof-of-work and decentralization. 𝘛𝘩𝘦 𝘵𝘦𝘳𝘮 "𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯" 𝘪𝘴 𝘥𝘪𝘴𝘵𝘪𝘯𝘤𝘵, 𝘳𝘦𝘧𝘦𝘳𝘳𝘪𝘯𝘨 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤𝘢𝘭𝘭𝘺 𝘵𝘰 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘢𝘯𝘥 𝘪𝘵𝘴 𝘶𝘯𝘪𝘲𝘶𝘦 𝘢𝘵𝘵𝘳𝘪𝘣𝘶𝘵𝘦𝘴 𝘵𝘩𝘢𝘵 𝘦𝘯𝘴𝘶𝘳𝘦 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺 𝘢𝘯𝘥 𝘵𝘳𝘶𝘴𝘵. So while “𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯” might dominate the discourse today, “𝘵𝘪𝘮𝘦𝘤𝘩𝘢𝘪𝘯” more accurately captures the essence and originality of Bitcoin, stressing the importance of its chronological, 𝘁𝗿𝘂𝗹𝘆 𝗶𝗿𝗿𝗲𝘃𝗲𝗿𝘀𝗶𝗯𝗹𝗲 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 that distinguish it from all other cryptocurrencies. Was this helpful? Give it a 𝗟𝗶𝗸𝗲🤙 Think this might help someone else? 𝗦𝗵𝗮𝗿𝗲🔄 it with others. 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this so you can reference it later. Which term do 𝘺𝘰𝘶 prefer, “blockchain” or “timechain”? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗠𝘂𝗹𝘁𝗶𝘀𝗶𝗴 𝘃𝘀. 𝗦𝗽𝗹𝗶𝘁𝘁𝗶𝗻𝗴 𝗞𝗲𝘆𝘀 To truly own your bitcoin, you must custody your private key. This usually involves writing down a 12 or 24-word seed phrase, and keeping it offline where it’s safe from theft, flood, and fire. But what if it’s discovered? Is it safer to use multiple private keys connected to the same wallet, or to split up a single seed phrase into multiple pieces? Let’s explore this below👇 Multisignature, commonly referred to as 𝘮𝘶𝘭𝘵𝘪𝘴𝘪𝘨, is a method of 𝗱𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗻𝗴 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 𝗼𝘃𝗲𝗿 𝗮 𝗯𝗶𝘁𝗰𝗼𝗶𝗻 𝘄𝗮𝗹𝗹𝗲𝘁 𝘂𝘀𝗶𝗻𝗴 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝘄𝗵𝗼𝗹𝗲 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗸𝗲𝘆𝘀. So instead of one private key being used to control the asset, multiple private keys are required to sign, execute, and validate a transaction. The most common multisig implementation is a 2-of-3 scheme, where any 2 of the 3 private keys are needed to sign a valid transaction. In this setup, 𝘯𝘰𝘯𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘬𝘦𝘺 𝘴𝘪𝘨𝘯𝘦𝘳𝘴 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘷𝘪𝘥𝘦 𝘵𝘩𝘦𝘪𝘳 𝘱𝘳𝘪𝘷𝘢𝘵𝘦 𝘬𝘦𝘺 𝘵𝘰 𝘵𝘩𝘦 𝘰𝘵𝘩𝘦𝘳𝘴, allowing for trustless wallet management, even among a wallet’s co-owners. Contrasting that with splitting your private key into smaller pieces, 𝘢𝘯 𝘢𝘵𝘵𝘢𝘤𝘬𝘦𝘳 𝘤𝘰𝘶𝘭𝘥 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭𝘭𝘺 𝘢𝘤𝘤𝘦𝘴𝘴 𝘺𝘰𝘶𝘳 𝘤𝘰𝘪𝘯𝘴 𝘣𝘺 𝘰𝘣𝘵𝘢𝘪𝘯𝘪𝘯𝘨 𝘫𝘶𝘴𝘵 𝘰𝘯𝘦 𝘱𝘪𝘦𝘤𝘦, and then correctly guessing the rest. 𝗘𝘃𝗲𝗿𝘆 𝘄𝗼𝗿𝗱 𝘁𝗵𝗲𝘆 𝗵𝗮𝘃𝗲 𝗼𝗳 𝘆𝗼𝘂𝗿 𝘀𝗲𝗲𝗱 𝗽𝗵𝗿𝗮𝘀𝗲 𝗺𝗮𝗸𝗲𝘀 𝗶𝘁 𝗲𝘅𝗽𝗼𝗻𝗲𝗻𝘁𝗶𝗮𝗹𝗹𝘆 𝗲𝗮𝘀𝗶𝗲𝗿 𝘁𝗼 𝗴𝘂𝗲𝘀𝘀 𝘁𝗵𝗲 𝗿𝗲𝗺𝗮𝗶𝗻𝗶𝗻𝗴 𝘄𝗼𝗿𝗱𝘀, but that is not the case with multisig. It's important to note that multisig can be implemented at different levels, such as at the blockchain or consensus level — which provides the highest level of security — or by a particular application, which is far less secure. If the number of signers or authorization keys can be changed without a publicly-visible transaction on the blockchain, 𝘆𝗼𝘂'𝗿𝗲 𝘂𝘀𝗶𝗻𝗴 𝗮 𝗹𝗲𝘀𝘀 𝘀𝗲𝗰𝘂𝗿𝗲 𝗮𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻-𝗽𝗼𝗹𝗶𝗰𝘆-𝗯𝗮𝘀𝗲𝗱 𝘀𝗲𝗿𝘃𝗶𝗰𝗲, where the authors of the application ultimately control the asset. Multisig offers several benefits, including increased security, as it requires multiple signatures to create a transaction, making it much more difficult for an attacker to compromise your wallet. Additionally, 𝗲𝗮𝗰𝗵 𝗽𝗲𝗿𝘀𝗼𝗻 𝗶𝗻𝘃𝗼𝗹𝘃𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗺𝘂𝗹𝘁𝗶𝘀𝗶𝗴 𝗰𝗼𝗻𝗳𝗶𝗴𝘂𝗿𝗮𝘁𝗶𝗼𝗻 𝗵𝗮𝘀 𝘁𝗵𝗲𝗶𝗿 𝗼𝘄𝗻 𝗯𝗮𝗰𝗸𝘂𝗽, so if a key is lost or stolen, a new multisignature wallet can be created, and the other key holders can move the funds into the new wallet. Remember to give this a 𝗟𝗶𝗸𝗲🤙, 𝗦𝗵𝗮𝗿𝗲🔄 it with others, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it for later.