The Bitcoin White Paper: 5. Network… “Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto October 31, 2008” Satoshi goes into detail about what the Bitcoin Network is. “5. Network The steps to run the network are as follows: New transactions are broadcast to all nodes. Each node collects new transactions into a block. Each node … Read more
The Bitcoin White Paper: 4. Proof-of-Work… “Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto October 31, 2008” Now Satoshi tackles the problem of how to make bitcoin hard to produce. It can’t be like digital dollars that the Federal Reserve can create out of thin air. “4. Proof-of-Work To implement a distributed timestamp server on … Read more
The Bitcoin White Paper: the Abstract… Here’s a look at the founding document of Bitcoin broken up into each of its parts. It is called “The Bitcoin White Paper”. It starts with the title, the author, and a date. Then there’s the first paragraph called the Abstract which summarizes the entire white paper. I’ll break … Read more
Breaking ChatGPT’s Bitcoin FUD #7: Energy Consumption – part 2 Vlad Costea’s “Breaking FUD” series continues with the 7th “top threat” to Bitcoin according to ChatGPT. Critics say that Bitcoin consumes too much energy. But anything useful takes energy. Plus, the fiat banking system is more wasteful of energy. Bitcoin keeps getting more energy efficient … Read more
Breaking ChatGPT’s Bitcoin FUD #7: Energy Consumption – part 2 Vlad Costea’s “Breaking FUD” series continues with the 7th “top threat” to Bitcoin according to ChatGPT. Critics say that Bitcoin consumes too much energy. But anything useful takes energy. Plus, the fiat banking system is more wasteful of energy. Bitcoin keeps getting more energy efficient … Read more
Breaking ChatGPT’s Bitcoin FUD #7: Energy Consumption – part 2 Vlad Costea’s “Breaking FUD” series continues with the 7th “top threat” to Bitcoin according to ChatGPT. Critics say that Bitcoin consumes too much energy. But anything useful takes energy. Plus, the fiat banking system is more wasteful of energy. Bitcoin keeps getting more energy efficient … Read more
Breaking ChatGPT’s Bitcoin FUD #7: Energy Consumption – part 2 Vlad Costea’s “Breaking FUD” series continues with the 7th “top threat” to Bitcoin according to ChatGPT. Critics say that Bitcoin consumes too much energy. But anything useful takes energy. Plus, the fiat banking system is more wasteful of energy. Bitcoin keeps getting more energy efficient … Read more
Breaking ChatGPT’s Bitcoin FUD #7: Energy Consumption – part 1 Vlad Costea’s “Breaking FUD” series continues with the 7th “top threat” to Bitcoin according to ChatGPT. Critics say that Bitcoin consumes too much energy. But anything useful takes energy. Plus, the fiat banking system is more wasteful of energy. Bitcoin keeps getting more energy efficient … Read more