𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁 𝗣𝗿𝗼𝗽𝗼𝘀𝗮𝗹𝘀 (𝗕𝗜𝗣𝘀) BIPs. You’ve likely heard of them, but what are they, and what is the process of integrating them into #Bitcoin? Read on for a full exploration⏬ Bitcoin Improvement Proposals (BIPs) are vital documents that guide Bitcoin’s evolution. They can be suggested enhancements to Bitcoin, or provide information and guidelines. BIPs come in three forms: 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 𝗧𝗿𝗮𝗰𝗸 (these affect most Bitcoin implementations), 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻𝗮𝗹 (these provide guidelines), and 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 (these suggest non-protocol changes). Below, we'll journey through the process of a BIP becoming a reality: 𝗜𝗱𝗲𝗮 𝗙𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻, 𝗗𝗿𝗮𝗳𝘁𝗶𝗻𝗴, 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗶𝗼𝗻, 𝗙𝗼𝗿𝗺𝗮𝗹 𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻, 𝗦𝘁𝗮𝘁𝘂𝘀 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀𝗶𝗼𝗻, and 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻. Each step is crucial, transforming a mere idea into a part of Bitcoin's ever-evolving code and community practices. 𝗜𝗱𝗲𝗮 𝗙𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 Every BIP starts as an idea to improve Bitcoin in some way. Before drafting, the proposer (or BIP champion) 𝘮𝘶𝘴𝘵 𝘱𝘶𝘣𝘭𝘪𝘤𝘭𝘺 𝘥𝘪𝘴𝘤𝘶𝘴𝘴 𝘵𝘩𝘦 𝘪𝘥𝘦𝘢 𝘰𝘯 𝘧𝘰𝘳𝘶𝘮𝘴 𝘰𝘳 𝘮𝘢𝘪𝘭𝘪𝘯𝘨 𝘭𝘪𝘴𝘵𝘴. This ensures the idea addresses real community needs, and is properly adjusted according to the feedback received. 👇 𝗗𝗿𝗮𝗳𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗕𝗜𝗣 Once the idea has support, the champion writes the BIP itself. This involves publishing a technical document 𝘸𝘪𝘵𝘩 𝘢 𝘤𝘭𝘦𝘢𝘳 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘵𝘩𝘦 𝘱𝘳𝘰𝘱𝘰𝘴𝘦𝘥 𝘤𝘩𝘢𝘯𝘨𝘦, 𝘢𝘯𝘥 𝘸𝘩𝘺 𝘪𝘵'𝘴 𝘣𝘦𝘯𝘦𝘧𝘪𝘤𝘪𝘢𝘭. This document is maintained in a versioned repository, where anyone can keep track of its evolution. 👇 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗗𝗶𝘀𝗰𝘂𝘀𝘀𝗶𝗼𝗻 𝘛𝘩𝘦 𝘥𝘳𝘢𝘧𝘵 𝘉𝘐𝘗 𝘪𝘴 𝘵𝘩𝘦𝘯 𝘴𝘩𝘢𝘳𝘦𝘥 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘸𝘪𝘥𝘦𝘳 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘵𝘺, usually on the bitcoin-dev mailing list. Here, developers and users scrutinize the proposal. The author gathers feedback, refines the BIP, and works towards a consensus of acceptance. 👇 𝗙𝗼𝗿𝗺𝗮𝗹 𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻 After refining the BIP based on community feedback, 𝘪𝘵'𝘴 𝘧𝘰𝘳𝘮𝘢𝘭𝘭𝘺 𝘴𝘶𝘣𝘮𝘪𝘵𝘵𝘦𝘥 𝘵𝘰 𝘵𝘩𝘦 𝘉𝘐𝘗𝘴 𝘨𝘪𝘵 𝘳𝘦𝘱𝘰𝘴𝘪𝘵𝘰𝘳𝘺. A BIP editor gives it a unique number and categorizes it. This marks its official entry into the review process. 👇 𝗦𝘁𝗮𝘁𝘂𝘀 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀𝗶𝗼𝗻 The BIP then progresses through various statuses. 𝘿𝙧𝙖𝙛𝙩 BIPs become 𝙋𝙧𝙤𝙥𝙤𝙨𝙚𝙙 when they're complete and have community support. 𝙋𝙧𝙤𝙥𝙤𝙨𝙚𝙙 can turn 𝙁𝙞𝙣𝙖𝙡 when they meet real-world adoption criteria. If a BIP doesn't progress, it's marked as 𝙍𝙚𝙟𝙚𝙘𝙩𝙚𝙙. Each type of BIP, especially those suggesting network changes, has specific requirements for progression. 👇 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 Finally, if the BIP has lasted this long, 𝘪𝘵𝘴 𝘱𝘳𝘰𝘱𝘰𝘴𝘦𝘥 𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘢𝘳𝘦 𝘢𝘥𝘰𝘱𝘵𝘦𝘥 𝘣𝘺 𝘵𝘩𝘦 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘯𝘦𝘵𝘸𝘰𝘳𝘬. This usually requires consensus from the enforcers of Bitcoin’s code and, in some cases, a majority agreement from miners. This process ensures that any change is thoroughly vetted and agreed upon by the community. 𝗕𝗜𝗣𝘀 𝗲𝗺𝗯𝗼𝗱𝘆 𝘁𝗵𝗲 𝗱𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗲𝘁𝗵𝗼𝘀 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻. They ensure every proposed change undergoes thorough scrutiny and debate, which is appropriate, considering the community-driven nature of the network. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗯𝘆 𝘄𝗵𝗶𝗰𝗵 𝗮 𝗕𝗜𝗣 𝗯𝗲𝗰𝗼𝗺𝗲𝘀 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘂𝗽𝗴𝗿𝗮𝗱𝗲 𝗶𝘀 𝗮 𝘀𝘁𝗲𝗽 𝘁𝗼𝘄𝗮𝗿𝗱𝘀 𝗴𝗿𝗮𝘀𝗽𝗶𝗻𝗴 𝘁𝗵𝗲 𝗶𝗻𝘁𝗿𝗶𝗰𝗮𝘁𝗲 𝘄𝗼𝗿𝗸𝗶𝗻𝗴𝘀 𝗮𝗻𝗱 𝗴𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻. Now you know what BIPs are, how they’re made, and the process for them to be added onto Bitcoin! Very #few understand this, so be sure to 𝗟𝗶𝗸𝗲🤙 and 𝗦𝗵𝗮𝗿𝗲🔄 this, so this knowledge can spread. And you never know when you’ll be asked about this, so 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it too! What BIPs would you like to see activated on Bitcoin? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗚𝗶𝘃𝗶𝗻𝗴 𝘁𝗵𝗲 𝗚𝗶𝗳𝘁 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗧𝗵𝗶𝘀 𝗬𝗲𝗮𝗿? Here are a few suggestions to ensure the best experience. First, it’s recommended that you use services like @lightsats or @River, which provide a user-friendly way to gift #bitcoin to someone, along with step-by-step instructions on how the bitcoin can be claimed. 𝘛𝘩𝘪𝘴 𝘦𝘭𝘪𝘮𝘪𝘯𝘢𝘵𝘦𝘴 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘳𝘦𝘤𝘪𝘱𝘪𝘦𝘯𝘵 𝘵𝘰 𝘩𝘢𝘷𝘦 𝘵𝘦𝘤𝘩𝘯𝘪𝘤𝘢𝘭 𝘦𝘹𝘱𝘦𝘳𝘵𝘪𝘴𝘦, so they can receive and store their bitcoin safely and easily. Additionally, it’s important to provide them with advice on how they should custody their bitcoin. This includes explaining 𝘁𝗵𝗲 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝘀𝗲𝗰𝘂𝗿𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗸𝗲𝘆𝘀, and the potential risks associated with 𝘀𝘁𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝗯𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝗻 𝗮 “𝗵𝗼𝘁 𝘄𝗮𝗹𝗹𝗲𝘁”, or an app that’s connected to the internet. Encouraging the use of hardware signing devices can help protect their bitcoin from potential theft or loss. And lastly, the recipient should be informed that for the time being, 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗶𝘀 𝗺𝗼𝗿𝗲 𝗼𝗳 𝗮 𝘀𝘁𝗼𝗿𝗲 𝗼𝗳 𝘃𝗮𝗹𝘂𝗲 𝘁𝗵𝗮𝗻 𝗮 𝗺𝗲𝗱𝗶𝘂𝗺 𝗼𝗳 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲, so their bitcoin gift should be kept somewhere safe for several years while Bitcoin matures in price and acceptance. They’ll need to understand that despite Bitcoin’s volatility, 𝘯𝘰 𝘣𝘪𝘵𝘤𝘰𝘪𝘯 𝘵𝘩𝘢𝘵 𝘸𝘢𝘴 𝘩𝘦𝘭𝘥 𝘧𝘰𝘳 𝘢𝘯𝘺 4 𝘺𝘦𝘢𝘳 𝘱𝘦𝘳𝘪𝘰𝘥 𝘰𝘳 𝘮𝘰𝘳𝘦 𝘩𝘢𝘴 𝘭𝘰𝘴𝘵 𝘱𝘶𝘳𝘤𝘩𝘢𝘴𝘪𝘯𝘨 𝘱𝘰𝘸𝘦𝘳, so they should treat this as a gift that will help them in the long-term. By providing guidance on these matters, your friend or family member can make informed decisions about how to handle their bitcoin gift and ensure its safekeeping. If they follow your instructions, 𝘵𝘩𝘦𝘺 𝘸𝘪𝘭𝘭 𝘣𝘦𝘯𝘦𝘧𝘪𝘵 𝘧𝘳𝘰𝘮 𝘪𝘵 𝘨𝘳𝘦𝘢𝘵𝘭𝘺, not only financially, but also simply by owning some money that’s outside the control of the central banking system. And even if you aren’t planning on gifting bitcoin to anyone this year, whether because you don’t want to or because you don’t celebrate Christmas, the suggestions above will still be helpful if you choose to give someone bitcoin at a different time. Regardless, I would like to wish you a good weekend, a merry Christmas, and a happy new year! Make sure you 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this, in case you want to gift a friend some sats later. And give this a 𝗟𝗶𝗸𝗲🤙 and a 𝗦𝗵𝗮𝗿𝗲🔄, so those who want to gift bitcoin to others will know how to do it. Know any other ways to give bitcoin as a gift? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗛𝗮𝘃𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀? 𝗔𝘀𝗸 𝗦𝗮𝘁𝗼𝘀𝗵𝗶𝗚𝗣𝗧! SatoshiGPT is your maximalist assistant for tackling tough questions about #Bitcoin better than ChatGPT. “𝘐𝘴 𝘉𝘪𝘵𝘤𝘰𝘪𝘯 𝘮𝘪𝘯𝘪𝘯𝘨 𝘩𝘢𝘳𝘮𝘧𝘶𝘭 𝘵𝘰 𝘵𝘩𝘦 𝘦𝘯𝘷𝘪𝘳𝘰𝘯𝘮𝘦𝘯𝘵?” “𝘐𝘴 𝘱𝘳𝘰𝘰𝘧 𝘰𝘧 𝘴𝘵𝘢𝘬𝘦 𝘣𝘦𝘵𝘵𝘦𝘳 𝘵𝘩𝘢𝘯 𝘱𝘳𝘰𝘰𝘧 𝘰𝘧 𝘸𝘰𝘳𝘬?” “𝘚𝘩𝘰𝘶𝘭𝘥 𝘐 𝘣𝘶𝘺 𝘌𝘵𝘩𝘦𝘳𝘦𝘶𝘮?” These and other questions are easily answered by SatoshiGPT!