𝗧𝗵𝗲 𝗦𝗽𝗶𝗿𝗶𝘁 𝗼𝗳 𝗦𝗮𝘁𝗼𝘀𝗵𝗶 𝗶𝘀 𝗻𝗼𝘄 𝗼𝗻 𝗚𝗲𝘆𝘀𝗲𝗿!👀 My team’s crowdfunding campaign on @Geyser🌊 is now live! All contributions will support our open source efforts, and 𝗲𝗻𝘀𝘂𝗿𝗲 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲 𝗦𝗽𝗶𝗿𝗶𝘁 𝗼𝗳 𝗦𝗮𝘁𝗼𝘀𝗵𝗶 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝘁𝗼 𝗲𝗻𝗮𝗯𝗹𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻𝗲𝗿𝘀 𝗳𝗿𝗼𝗺 𝗮𝗿𝗼𝘂𝗻𝗱 𝘁𝗵𝗲 𝘄𝗼𝗿𝗹𝗱 𝘁𝗼 𝗰𝗼𝗻𝘁𝗿𝗶𝗯𝘂𝘁𝗲 𝗮𝗻𝗱 𝗲𝗮𝗿𝗻 𝗳𝗼𝗿 𝘁𝗵𝗲𝗶𝗿 𝘁𝗶𝗺𝗲 𝗮𝗻𝗱 𝗸𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲. By contributing to our Geyser fund, you can qualify for 𝘮𝘢𝘯𝘺 prizes, including: 👉An exclusive Nostr badge 👉"21 Questions", the world's first Ai-enhanced Bitcoin book 👉𝙏𝙝𝙚 𝙣𝙚𝙬 𝙎𝙥𝙞𝙧𝙞𝙩 𝙤𝙛 𝙎𝙖𝙩𝙤𝙨𝙝𝙞 𝘽𝙞𝙩𝙘𝙤𝙞𝙣 𝙏𝙧𝙖𝙙𝙞𝙣𝙜 𝘾𝙖𝙧𝙙𝙨 𝗮𝗻𝗱 𝙐𝙇𝙏𝙍𝘼 𝙡𝙞𝙢𝙞𝙩𝙚𝙙 𝙖𝙧𝙩𝙬𝙤𝙧𝙠𝙨 𝟭𝟰”𝘅 𝟮𝟬” (𝟯𝟱 𝗰𝗺 𝘅 𝟱𝟭 𝗰𝗺)! These were designed by 𝘄𝗼𝗿𝗹𝗱-𝗰𝗹𝗮𝘀𝘀 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗮𝗿𝘁𝗶𝘀𝘁𝘀 at @Bitcoin Trading Cards, and each card features timeless education on Bitcoin and economics. 🚨𝗦𝗼𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗰𝗮𝗿𝗱𝘀 𝗵𝗮𝘃𝗲 𝗮𝗹𝗿𝗲𝗮𝗱𝘆 𝗯𝗲𝗲𝗻 𝗰𝗹𝗮𝗶𝗺𝗲𝗱. 𝘋𝘰𝘯'𝘵 𝘮𝘪𝘴𝘴 𝘺𝘰𝘶𝘳 𝘤𝘩𝘢𝘯𝘤𝘦 𝘵𝘰 𝘢𝘥𝘥 𝘵𝘩𝘦𝘴𝘦 𝘵𝘰 𝘺𝘰𝘶𝘳 𝘤𝘰𝘭𝘭𝘦𝘤𝘵𝘪𝘰𝘯!🚨 And join us on Twitter Spaces today in about 3 hours (11:30AM ET), along with @Bitcoin Trading Cards and @Geyser, as we discuss these exclusive awards, and how you can qualify for them. https://x.com/i/spaces/1OdKrjbLVZOKX My team has some exciting new developments on the way, and your donations of time, knowledge, and sats are helping to build them. As always, thank you for your invaluable support!

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I was recently asked this on Twitter: While Ethereum isn't an obvious scam in the traditional sense, it does have many disreputable characteristics that have led many to accuse it of being a scam, and avoid it. The first reason for this is Ethereum's premine at its genesis, in which approximately 70% of what was then planned to be the total supply was given to the developers and initial insiders on the project. Contrast this with Bitcoin's genesis, in which Satoshi Nakamoto did the same work that anyone else would have to do, in order to find a block and earn new bitcoin. He even embedded that morning's newspaper headline, "Chancellor on brink of second bailout for banks", as proof that the first block had not been mined previously. Ethereum's monetary policy, including its total supply and issuance schedule, changes frequently. It has no supply cap, and more coins have continued to be issued beyond its original promised limit of 100 million. This contrasts sharply with Bitcoin's predictable and unchanged monetary policy of halvings every 210,000 blocks, leading to a total supply of just under 21 million. While Ethereum claims to be decentralized, experience has shown it to actually be very centralized, like the banking system. For example, in 2016, a vulnerability in its code was exploited, leading to 3.6 million Ether being stolen, which was worth about $50 million at the time. To fix the exploit, Ethereum's central authorities rolled back the blockchain to undo the theft, and all legitimate transactions that had taken place since along with it. Then, in 2022, Ethereum merged from being a Proof of Work (PoW) system, in which new coins are issued and transaction fees are taken based on real-world work, to Proof of Stake (PoS), in which new coins are issued and transaction fees are taken based on the amount of coins one has staked as collateral in order to validate blocks. PoS is an unavoidably centralizing force, leading many to conclude that Ethereum is a scam. Ethereum's premine, ever-changing monetary policy, unlimited supply, false claims to decentralization, and switch from PoW to PoS make it apparent that Ethereum exists to move money from the hands of the poor, and into the hands of the wealthy. This is further demonstrated by the myriad of DeFi projects built on top of Ethereum, which are known to enrich insiders at the expense of new entrants. In conclusion, the truth of whether or not Ethereum is a scam largely rests on the intentions of Vitalik Buterin and his associates, which is beyond my ability to determine. However, its history, policies, lack of hard-capped supply, centralized control, Proof of Stake algorithm, and platform for thousands of morally-questionable projects have caused many newcomers to lose their money to those in charge of Ethereum and the projects built on it. As this differs drastically from Bitcoin's history of verifiability, predictability, immutability, decentralization, and Proof of Work, many see Ethereum as a scam, and choose to use #Bitcoin instead.

𝗕𝗶𝘁𝗰𝗼𝗶𝗻: 𝗧𝗵𝗲 𝗟𝗲𝗮𝘀𝘁 𝗦𝗽𝗲𝗰𝘂𝗹𝗮𝘁𝗶𝘃𝗲 𝗔𝘀𝘀𝗲𝘁 Nocoiners often brush off #Bitcoin by saying it’s only used for speculation. Obviously, this isn’t true, since many people use bitcoin for everyday transactions. But what parts of Bitcoin are merely speculative, and what can be known for certain? Let’s find out👇 While some label Bitcoin as speculative, true speculation within Bitcoin is confined to its 𝗽𝗿𝗶𝗰𝗲, 𝗵𝗮𝘀𝗵𝗿𝗮𝘁𝗲, and 𝘁𝗵𝗲 𝗵𝗮𝘀𝗵 𝗼𝗳 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝗯𝗹𝗼𝗰𝗸. These elements are inherently uncertain due to their dependency on external factors such as market sentiment and mining activity. The Bitcoin protocol itself is 𝗮 𝗯𝗲𝗱𝗿𝗼𝗰𝗸 𝗼𝗳 𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆, underpinned by basic mathematic principles. It ensures reliability and security, dictating how transactions are processed and blocks are added to the timechain, with 𝘯𝘰 𝘳𝘰𝘰𝘮 𝘧𝘰𝘳 𝘢𝘮𝘣𝘪𝘨𝘶𝘪𝘵𝘺 𝘰𝘳 𝘤𝘩𝘢𝘯𝘨𝘦 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘤𝘰𝘯𝘴𝘦𝘯𝘴𝘶𝘴. 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝗼𝗽𝗲𝗻-𝘀𝗼𝘂𝗿𝗰𝗲 𝗻𝗮𝘁𝘂𝗿𝗲 𝗶𝘀 𝗰𝗲𝗿𝘁𝗮𝗶𝗻, and ensures its code is publicly auditable and transparent. Changes require consensus, which aligns its evolution with each user’s interests. This immutable characteristic is foundational to Bitcoin's trust and integrity. Block production is remarkably consistent, with a new block found roughly every ten minutes. This cadence, governed by the protocol's predictable difficulty adjustment, 𝘦𝘯𝘴𝘶𝘳𝘦𝘴 𝘯𝘦𝘵𝘸𝘰𝘳𝘬 𝘴𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘢𝘯𝘥 𝘱𝘳𝘦𝘥𝘪𝘤𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺, irrespective of the mining power applied. The halving schedule, cutting the block subsidy in half approximately every four years, is hardcoded into Bitcoin. This ensures a 𝘱𝘳𝘦𝘥𝘪𝘤𝘵𝘢𝘣𝘭𝘦 decrease in new supply, leading to a total of just under 21 million bitcoin. This 𝙖𝙗𝙨𝙤𝙡𝙪𝙩𝙚 𝙡𝙞𝙢𝙞𝙩 of bitcoin is a verifiable certainty that underpins its value proposition as a disinflationary asset. Unlike government fiat currencies and even the rest of the crypto market, 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝘀𝘂𝗽𝗽𝗹𝘆 𝗰𝗮𝗻𝗻𝗼𝘁 𝗯𝗲 𝗶𝗻𝗳𝗹𝗮𝘁𝗲𝗱 𝗮𝘁 𝘁𝗵𝗲 𝘄𝗵𝗶𝗺 𝗼𝗳 𝗮 𝗰𝗲𝗻𝘁𝗿𝗮𝗹 𝗮𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆, thus preserving its purchasing power over time. Bitcoin's decentralization is also not a matter of speculation, 𝘢𝘴 𝘪𝘵 𝘩𝘢𝘴 𝘣𝘦𝘦𝘯 𝘵𝘦𝘴𝘵𝘦𝘥 𝘢𝘯𝘥 𝘵𝘳𝘪𝘦𝘥 𝘰𝘯 𝘮𝘶𝘭𝘵𝘪𝘱𝘭𝘦 𝘰𝘤𝘤𝘢𝘴𝘪𝘰𝘯𝘴. Its distributed ledger and consensus mechanisms prevent any single entity from controlling the network, thus making it resistant to censorship and manipulation. Censorship resistance is a 𝘧𝘰𝘶𝘯𝘥𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘳𝘦𝘢𝘭𝘪𝘵𝘺 in Bitcoin. Its peer-to-peer architecture allows transactions to occur without the need for intermediary approval, safeguarding freedom of payment across the globe. Bitcoin's unconfiscatability is certain, and stems from its cryptographic security. 𝗢𝗻𝗹𝘆 𝘁𝗵𝗼𝘀𝗲 𝗶𝗻 𝗽𝗼𝘀𝘀𝗲𝘀𝘀𝗶𝗼𝗻 𝗼𝗳 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗸𝗲𝘆𝘀 𝗰𝗮𝗻 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 𝘁𝗵𝗲𝗶𝗿 𝗯𝗶𝘁𝗰𝗼𝗶𝗻, making it immune to seizure by authorities or third parties. Each of these aspects of Bitcoin is dictated by 𝘶𝘯𝘤𝘩𝘢𝘯𝘨𝘦𝘢𝘣𝘭𝘦 𝘤𝘰𝘥𝘦 𝘢𝘯𝘥 𝘤𝘰𝘯𝘴𝘦𝘯𝘴𝘶𝘴 𝘳𝘶𝘭𝘦𝘴, and are not a matter of speculation. They form the foundation of Bitcoin's value proposition as a decentralized, secure, and predictable digital currency, and 𝗮𝗿𝗲 𝘃𝗲𝗿𝗶𝗳𝗶𝗮𝗯𝗹𝗲 𝗯𝘆 𝗮𝗻𝘆𝗼𝗻𝗲 𝘄𝗵𝗼 𝗰𝗵𝗼𝗼𝘀𝗲𝘀 𝘁𝗼 𝗹𝗼𝗼𝗸 𝗰𝗹𝗼𝘀𝗲𝗹𝘆 𝗲𝗻𝗼𝘂𝗴𝗵. 𝗦𝗵𝗮𝗿𝗲🔄 with anyone who thinks that Bitcoin is merely a speculative asset, give it a 𝗟𝗶𝗸𝗲🤙, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it for later. How else is Bitcoin 𝘯𝘰𝘵 speculative? Let me know in the 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

𝗧𝗿𝗶𝗽𝗹𝗲-𝗘𝗻𝘁𝗿𝘆 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴: 𝗞𝗲𝗲𝗽𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗦𝗮𝗳𝗲 The traditional fiat system uses a method known as “double-entry accounting”, but #Bitcoin improves upon this with 𝘵𝘳𝘪𝘱𝘭𝘦-entry accounting. What does this mean, and how is it a better way to secure the monetary system? Find out below👇 Double-entry accounting records transactions in 𝘁𝘄𝗼 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀, ensuring they're balanced with matching debits and credits. However, its effectiveness relies on intermediaries, and wanes with more complex transactions. Triple-entry accounting adds a 𝘵𝘩𝘪𝘳𝘥 record, enhancing security and ensuring transactions are tamper-proof by introducing 𝗮 𝗺𝘂𝘁𝘂𝗮𝗹𝗹𝘆 𝘃𝗲𝗿𝗶𝗳𝗶𝗲𝗱 𝗹𝗲𝗱𝗴𝗲𝗿. This ledger, maintained across a network, 𝘳𝘦𝘥𝘶𝘤𝘦𝘴 𝘥𝘦𝘱𝘦𝘯𝘥𝘦𝘯𝘤𝘺 𝘰𝘯 𝘪𝘯𝘵𝘦𝘳𝘮𝘦𝘥𝘪𝘢𝘳𝘪𝘦𝘴 by offering a decentralized record of financial activities, bolstering robustness against manipulation. In Bitcoin's framework, triple-entry accounting secures transactions on the timechain, which 𝗲𝗹𝗶𝗺𝗶𝗻𝗮𝘁𝗲𝘀 𝘁𝗵𝗲 𝗻𝗲𝗲𝗱 𝗳𝗼𝗿 𝘁𝗿𝘂𝘀𝘁𝗲𝗱 𝗽𝗮𝗿𝘁𝗶𝗲𝘀 and 𝗳𝗼𝘀𝘁𝗲𝗿𝘀 𝗶𝗻𝗰𝗹𝘂𝘀𝗶𝘃𝗶𝘁𝘆. In essence, triple-entry accounting diminishes intermediary reliance, and heightens system security. Its decentralized and transparent financial record make it 𝗰𝗹𝗲𝗮𝗿𝗹𝘆 𝘀𝘂𝗽𝗲𝗿𝗶𝗼𝗿 𝘁𝗼 𝘁𝗵𝗲 𝗳𝗶𝗮𝘁 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝘀𝘆𝘀𝘁𝗲𝗺’𝘀 𝗱𝗼𝘂𝗯𝗹𝗲-𝗲𝗻𝘁𝗿𝘆 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴. Remember to 𝗟𝗶𝗸𝗲🤙, 𝗦𝗵𝗮𝗿𝗲🔄, and 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 this for later!

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.

𝗧𝗵𝗲 𝗻𝗲𝘅𝘁 #BitcoinHalving 𝗶𝘀 𝗰𝗼𝗺𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝗔𝗽𝗿𝗶𝗹. This means the amount of new #bitcoin issued to the miners with each block will be 𝘩𝘢𝘭𝘷𝘦𝘥 from 6.25 bitcoin to 3.125 bitcoin. What makes this the 𝘮𝘰𝘴𝘵 important halving so far? The answer is found in bitcoin’s 𝘀𝘁𝗼𝗰𝗸-𝘁𝗼-𝗳𝗹𝗼𝘄 𝗿𝗮𝘁𝗶𝗼:

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝗨𝗧𝗫𝗢𝘀, 𝗮𝗻𝗱 𝗛𝗼𝘄 𝗦𝗵𝗼𝘂𝗹𝗱 𝗬𝗼𝘂 𝗠𝗮𝗻𝗮𝗴𝗲 𝗧𝗵𝗲𝗺? Unspent Transaction Outputs (UTXOs) are the bedrock of Bitcoin's transaction model. 𝘛𝘩𝘦𝘺 𝘳𝘦𝘱𝘳𝘦𝘴𝘦𝘯𝘵 𝘵𝘩𝘦 𝘢𝘮𝘰𝘶𝘯𝘵 𝘰𝘧 𝘣𝘪𝘵𝘤𝘰𝘪𝘯 𝘵𝘩𝘢𝘵 𝘢𝘯 𝘢𝘥𝘥𝘳𝘦𝘴𝘴 𝘩𝘢𝘴 𝘳𝘦𝘤𝘦𝘪𝘷𝘦𝘥 𝘣𝘶𝘵 𝘩𝘢𝘴 𝘯𝘰𝘵 𝘺𝘦𝘵 𝘴𝘱𝘦𝘯𝘵. Each bitcoin transaction consumes UTXOs as inputs and creates new ones as outputs; this is how bitcoin moves between addresses. 𝗠𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗨𝗧𝗫𝗢𝘀 𝗲𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝘁𝗹𝘆 𝗶𝘀 𝗰𝗿𝘂𝗰𝗶𝗮𝗹 𝗳𝗼𝗿 𝗯𝗼𝘁𝗵 𝗽𝗿𝗶𝘃𝗮𝗰𝘆 𝗮𝗻𝗱 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗳𝗲𝗲𝘀. Large sets of small UTXOs can lead to higher fees when spending, as more UTXOs mean more data, and more data means a larger transaction size. Conversely, fewer and larger UTXOs can reduce fees and improve privacy by minimizing transaction linkability. Consolidation is the process of combining many small UTXOs into fewer larger ones. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘣𝘦𝘴𝘵 𝘥𝘰𝘯𝘦 𝘥𝘶𝘳𝘪𝘯𝘨 𝘱𝘦𝘳𝘪𝘰𝘥𝘴 𝘰𝘧 𝘭𝘰𝘸 𝘯𝘦𝘵𝘸𝘰𝘳𝘬 𝘤𝘰𝘯𝘨𝘦𝘴𝘵𝘪𝘰𝘯 𝘵𝘰 𝘮𝘪𝘯𝘪𝘮𝘪𝘻𝘦 𝘧𝘦𝘦𝘴. Thoughtful UTXO management can significantly reduce future transaction costs and enhance transactional privacy. The essence of UTXOs and their management is captured clearly in @Samson Mow’s analogy below. Just as it's cumbersome to carry and count quarters for transactions, 𝗶𝘁'𝘀 𝗶𝗻𝗲𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝘁 𝘁𝗼 𝗺𝗮𝗻𝗮𝗴𝗲 𝗮 𝘄𝗮𝗹𝗹𝗲𝘁 𝗳𝘂𝗹𝗹 𝗼𝗳 𝘀𝗺𝗮𝗹𝗹 𝗨𝗧𝗫𝗢𝘀. Consolidating them into larger amounts when transaction fees are low simplifies transactions, reduces future fees, and takes up less of the limited space in each block.

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UTXO Management for Dummies: If everyone pays you in quarters you’ll have to lug around a big heavy bag. It’ll also cost you more time to spend...