Category: #BEWARE

Running bitcoin – Hal Finney

Wonder In Peace Bright Mind

Join Honorary Chair Fran Finney and the Running Bitcoin Challenge Committee as we honor legendary cypher punk, Hal Finney.

This is THE EVENT that combines Hal Finney’s love of running and Bitcoin and is raising funds and awareness to help defeat ALS, which ultimately claimed his life in 2014.

You are challenged to run (or walk, roll, or hike) the equivalent of a half marathon — cumulatively or all at once — by the end of January 10, 2023.

From wherever you are, spread the word about Bitcoin, participate in a healthy activity, feel good about doing your part to defeat ALS, and start the year off right

Hal Finney, one of the earliest bitcoin contributors, died eight years ago from complications of nervous system disease amyotrophic lateral sclerosis (ALS).

His spouse, Fran Finney, is now organizing a half marathon to raise funds for ALS research via bitcoin.

The “Running Bitcoin Challenge” is set to take place between Jan. 1 and Jan. 10. The timing of the occasion leads up to the anniversary of Hal Finney’s “Running bitcoin” tweet, in which Finney famously disclosed he was deploying a Bitcoin node.

There is no set location — participants can choose to join anywhere they wish. Players are encouraged to either run, walk, roll or hike the equivalent of a half marathon (Hal’s favorite distance) either in one go or over the entire 10-day period.

Donors contributing at least $100 will receive an official shirt with the half marathon’s logo, while the event’s top 25 fundraisers will get a Hal Finney collectible signed by his wife.

As of Wednesday morning, the event has already managed to secure nearly $10,000 in bitcoin donations.

An advocate of cryptography and digital privacy, Finney was the recipient of the first-ever bitcoin transfer from the network’s pseudonymous creator Satoshi Nakamoto.

The bitcoin community often suspected Finney was Nakamoto, a claim he consistently denied. He reportedly found out about his condition in 2009 and decided to move away from the project.

Hal’s name is high in the Bitcoin pantheon as one of the first people to voice support for Satoshi Nakamoto’s invention and for being the first person to receive a Bitcoin transaction from Satoshi.

He was, for a time, considered one of the top contenders on the list of potential Satoshis himself (many in blockchain who reject Dr. Craig Wright’s statements still falsely believe Finney to be Bitcoin’s real creator).

Hal, who referred to himself as a “cypherpunk,” was a cryptographic activist who went from developing video games to working on the Pretty Good Privacy (PGP) project in the 1990s. He described his PGP work as “dedicated to the goal of making Big Brother obsolete.”

PGP creator Phil Zimmerman hired Hal as his first employee when PGP became PGP Corporation in the early 2000s. He described Hal as a “gregarious man” who loved skiing and long-distance running.

Despite gradual paralysis that eventually forced him to stop working, Hal continued to code software and follow the Bitcoin project.

Almost as famous as his 2009 tweet is his “Bitcoin and me” post on BitcoinTalk.org in March 2013, the last he’d ever make.

It’s a long post, and Hal was “essentially paralyzed” at the time, using an eye tracker to type. Forum stats show the post has been read over 278,000 times.

“When Satoshi announced the first release of the software, I grabbed it right away,” he wrote. “I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction when Satoshi sent ten coins to me as a test.

I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them.”

Hal himself always denied being Satoshi Nakamoto, adding later that he’d sold most of the Bitcoins he mined (at pre-2014 prices) to pay for his treatments. He also mentioned putting some in a safe deposit box for his children.

“And, of course, the price gyrations of bitcoins are entertaining to me.

I have skin in the game.

But I came by my bitcoins through luck, with little credit to me.

I lived through the crash of 2011.

So I’ve seen it before.

Easy come, easy go.”

Hal Finney
www.runningbitcoin.us
Admiration and great Respect
With 🧡

Bitcoin WhitePaper Day

Bitcoin – A Peer-to-Peer
Electronic Cash System

It’s bitcoin White Paper Day.

The mailing list was hosted by Metzdow and run by a group of cypherpunks who shared ideas on creating a kind of digital currency and payment system. Satoshi shared the whitepaper in a message that read, “Bitcoin P2P e-cash paper,” which outlined the main properties of the system.

“Bitcoin P2P e-cash paper
Satoshi Nakamoto satoshi at vistomail.com
Fri Oct 31 14:10:00 EDT 2008
Previous message: Fw: SHA-3 lounge
Messages sorted by: [ date ] [ thread ] [ subject ] [ author ]
I’ve been working on a new electronic cash system that’s fully
peer-to-peer, with no trusted third party.

The paper is available at:
http://www.bitcoin.org/bitcoin.pdf

The main properties:
Double-spending is prevented with a peer-to-peer network.
No mint or other trusted parties.
Participants can be anonymous.
New coins are made from Hashcash style proof-of-work.
The proof-of-work for new coin generation also powers the
network to prevent double-spending.

Bitcoin: A Peer-to-Peer Electronic Cash System

Abstract. A purely peer-to-peer version of electronic cash would
allow online payments to be sent directly from one party to another
without the burdens of going through a financial institution.
Digital signatures provide part of the solution, but the main
benefits are lost if a trusted party is still required to prevent
double-spending. We propose a solution to the double-spending
problem using a peer-to-peer network. The network timestamps
transactions by hashing them into an ongoing chain of hash-based
proof-of-work, forming a record that cannot be changed without
redoing the proof-of-work. The longest chain not only serves as
proof of the sequence of events witnessed, but proof that it came
from the largest pool of CPU power. As long as honest nodes control
the most CPU power on the network, they can generate the longest
chain and outpace any attackers. The network itself requires
minimal structure. Messages are broadcasted on a best effort basis,
and nodes can leave and rejoin the network at will, accepting the
longest proof-of-work chain as proof of what happened while they
were gone.

Full paper at:
http://www.bitcoin.org/bitcoin.pdf

Satoshi Nakamoto

———————————————————————
The Cryptography Mailing List
Unsubscribe by sending “unsubscribe cryptography” to majordomo at metzdowd.com”

Source:
https://www.metzdowd.com/pipermail/cryptography/2008-October/014810.html

The pseudonymous Bitcoin creator disclosed that they had been working on a new electronic cash system that uses a Proof-of-Work (PoW) consensus algorithm that required no trusted third party. Although the document met mixed reactions, it was the beginning of what is known today as blockchain technology.

A couple of months after the release, the Bitcoin network was launched, with the first block mined on January 3, 2009. About eight days later, Hal Finney received the first transaction of 10 BTC from Nakamoto, after which he posted a legendary tweet that read:

In the 14 years since that day, bitcoin’s value rose from zero to a peak of $68,990 last November and was hovering above $20,000 on Monday, according to CoinDesk data. The cryptocurrency currently has a market capitalization of over $390 billion. It also inspired the creation of more than 20,000 different cryptocurrencies currently in circulation, while bitcoin remains the largest by market cap.

Over the years, several people have been rumored to be Nakamoto, including early bitcoin contributor Hal Finney, cryptographer Nick Szabo, physicist Dorian Nakamoto and even Tesla’s chief executive Elon Musk, who all denied the claims.

Satoshi’s identity is still a mystery, but Finney was well-known for his contribution to the creation of Bitcoin. He worked hand-in-hand with Nakamoto to find and fix bugs in Bitcoin’s underlying infrastructure. Before his death in 2014, Finney shared a detailed story about his journey with Bitcoin

About a year after the launch of Bitcoin, the cryptocurrency went on to record its first real-world commercial use case when a Florida man spent 10,000 BTC to purchase two large Papa John’s pizzas on May 22, 2010.

Although the coins were worth $41 at prices back then, at today’s price, the transaction is worth more than $200 million. To commemorate the event, the Bitcoin community celebrates Bitcoin Pizza Day every year on May 22.

Bitcoin / bitcoin / blockchain

Controlled Supply

Bitcoin

“A fixed money supply, or a supply altered only in accord with objective and calculable criteria, is a necessary condition to a meaningful just price of money.”

Fr. Bernard W. Dempsey, S.J. (1903-1960)

In a centralized economy, currency is issued by a central bank at a rate that is supposed to match the growth of the amount of goods that are exchanged so that these goods can be traded with stable prices. The monetary base is controlled by a central bank. In the United States, the Fed increases the monetary base by issuing currency, increasing the amount banks have on reserve or by a process called Quantitative Easing.

In a fully decentralized monetary system, there is no central authority that regulates the monetary base. Instead, currency is created by the nodes of a peer-to-peer network.

The Bitcoin generation algorithm defines, in advance, how currency will be created and at what rate. Any currency that is generated by a malicious user that does not follow the rules will be rejected by the network and thus is worthless.

Currency with Finite Supply

Block reward halving
Controlled supply

Bitcoins are created each time a user discovers a new block. The rate of block creation is adjusted every 2016 blocks to aim for a constant two week adjustment period (equivalent to 6 per hour.)

The number of bitcoins generated per block is set to decrease geometrically, with a 50% reduction every 210,000 blocks, or approximately four years. The result is that the number of bitcoins in existence will not exceed slightly less than 21 million.

Speculated justifications for the unintuitive value “21 million” are that it matches a 4-year reward halving schedule; or the ultimate total number of Satoshis that will be mined is close to the maximum capacity of a 64-bit floating point number. Satoshi has never really justified or explained many of these constants.

Cumulated bitcoin supply

This decreasing-supply algorithm was chosen because it approximates the rate at which commodities like gold are mined. Users who use their computers to perform calculations to try and discover a block are thus called Miners.

21M or Death

21 Million or Death
Arise…

The supply of Bitcoin is fixed at 21 million BTC, and as a hard coded monetary policy of the protocol, the fixed supply of the dominant cryptocurrency cannot be altered.

Former Google Product Director Steve Lee stated that only 1 percent of the world’s population can own more than 0.28 BTC, due to the fixed supply of Bitcoin.

In late 2017, Chainalysis, a blockchain forensics company that monitors and investigates cryptocurrency transactions, revealed in a research paper that up to four million BTC are permanently lost on the blockchain as a result of theft, loss of wallets and private keys, and the dormant wallet of Bitcoin creator Satoshi Nakamoto, which experts have said is no longer accessible.

Kim Grauer, Senior Economist at Chainalysis, said at the time, that the lost supply of BTC is not taken into consideration by the market cap.That means, the real price of BTC could be substantially higher, as 4 to 6 million BTC are estimated to be lost.

Based on the estimate that the supply of Bitcoin is around 17 million, only 0.8 percent of the world population can own more than 0.28 BTC and less than 0.2 of the world population can own more than 1 BTC.

The 0.28 BTC figure introduced by Lee assumes the supply of Bitcoin to be 21 million, as it divides 21 million by 0.28 and divides the outcome of that by the world population that is 7.442 billion. If the research of Chainalysis is accurate and that 4 to 6 million BTC are lost on the blockchain, the supply of Bitcoin should be closer to around 16 to 17 million

The fact that any investor in the global market can be within the 1 percent of the world population with a $1,830 investment demonstrates that the cryptocurrency market is still at its early phase, and in terms of adoption, market development, infrastructure, and regulation, the sector can still grow significantly in the mid to long-term.

Hal Finney
There is no “Whole Coin”

Once you’ve seen…

Need help for better content !!!

Q & A

Hy there to all of you out there, white, black, yellow and avatar 😋🤣 people around the WordPress world !

Hope you are all well and safe in these troubled times we live on this beautiful planet of ours !

I come before you, to ask for your opinion and what you would like to see explained in my posts !?! Just let me know and I will try my best to accomodate your requests !

Thank you for your time !

Your Silence…

Silence is the absence of ambient audible  sound, the emission of sounds of such low intensity that they do not draw attention to themselves, or the state of having ceased to produce sounds; this latter sense can be extended to apply to the cessation or absence of any form of communication, whether through speech or other medium.

Sometimes speakers fall silent when they hesitate in searching for a word, or interrupt themselves before correcting themselves.

Discourse analysis shows that people use brief silences to mark the boundaries of prosodic units, in turn-taking, or as reactive tokens, e.g., as a sign of displeasure, disagreement, embarrassment, desire to think, confusion, and the like.

Relatively prolonged intervals of silence can be used in rituals; in some religious disciplines, people maintain silence for protracted periods, or even for the rest of their lives, as an ascetic means of spiritual transformation.

Joseph Jordania has suggested that in social animals (including humans), silence can be a sign of danger.

Many social animals produce seemingly haphazard sounds which are known as contact calls. These are a mixture of various sounds, accompanying the group’s everyday business (for example, foraging,  feeding), and they are used to maintain audio contact with the members of the group.

Some social animal species communicate the signal of potential danger by stopping contact calls and freezing, without the use of alarm calls, through silence.

Charles Darwin wrote about this in relation with wild horse and cattle. Jordania has further suggested that human humming  could have been a contact method that early humans used to avoid silence. According to his suggestion, humans find prolonged silence distressing (suggesting danger to them).

This may help explain why lone humans in relative sonic isolation feel a sense of comfort from humming, whistling, talking to themselves, or having the TV or radio on.

See Also:

With 💚

Executive Order 6102

History Lessons,
never to be forgotten!¡

Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt “forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.”

The executive order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933.

Summary

  • Forbade ownership of quantities of gold coin, bullion, and gold certificates worth in excess of $100 (about 5 troy ounces), with exemptions for specific uses and collections;
  • Required all persons to deliver excess quantities of the above on or before May 1, 1933 in exchange for $20.67 per troy ounce;
  • Enabled Federal funding of Exchange Stabilization Fund using profit realized from international transactions against new Federal reserves.

The limitation on gold ownership in the United States was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars, and certificates by an Act of Congress, codified in Pub.L.93–373,which went into effect December 31, 1974.

The stated reason for the order was that hard times had caused “hoarding” of gold, stalling economic growth and worsening the depression as the US was then using the gold standard for its currency

On April 6, 1933, The New York Times wrote, under the headline Hoarding of Gold, “The Executive Order issued by the President yesterday amplifies and particularizes his earlier warnings against hoarding.

On March 6, taking advantage of a wartime statute that had not been repealed, he issued Presidential Proclamation 2039 that forbade the hoarding ‘of gold or silver coin or bullion or currency’, under penalty of $10,000 and/or up to five to ten years imprisonment.”

The main rationale behind the order was actually to remove the constraint on the Federal Reserve preventing it from increasing the money supply during the depression.

The Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes that were issued. By the late 1920s, the Federal Reserve had almost reached the limit of allowable credit, in the form of Federal Reserve demand notes, which could be backed by the gold in its possession.

Source:
https://wikipedia.com/

Secret IRS Files

ProPublica

Any more Questions ?¿

Warren Buffett
Jeff Bezos
Elon Musk

End of Lesson !
Class Dismissed !
🥺 🤫 😉 🙂

P.S - Before any 🧠less 🐑pss start 👏ing at any of these Wealthy "gentlemen" and their "charitable" acts for a country or the other... 

Take a deep breath...

And try to think...

If "one" that has a Wealth Growth of $13,900,000,000.00 Billions, has a Total Income Reported of $1,520,000,000.00 Billion and paid in Total Taxes 450,000,000.00 Millions, with a True Tax Rate of 3.27% sends Tech in countries that are of interest for so many reasons you would 🤢🤮🤢 ... 

Who's paying for the Tech ?!?

Me... You... My Momma... Your Momma !!!

End of story !!!

Use your 🧠 folks !!!

Use your 🧠 !!!

You already have it, it's almost FREE 😉 🤣 🙂
Source:

https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

Free Spirit’s Wondering…

Some moments of my online wondering…

R&D, wisdom, knowledge, curiosities, answers and many more questions 🙂🤣🙃

You have a Choice !!!
Power to the People !!!
Wake the F… Up !!!
No more excuses, you have a choice now !!!
WHO as in WORLD HEALTH ORGANISATION
P F I Z E R  Insider
Poem of the Legacy
Being Curious…
Of course it doesn’t comply…
The Problem with centralized Social-Media
10 Principles of Strategic Leadership
Global Reserve Currency
Psychology of a Market Cycle
Success
Success
Triangle of Success
Don’t plan for travelling when old…😋😳😋
Be like a Tree…
If anyone understands this please enlighten me too 😊🤭🤗
http://www.revelationtimelinedecoded.com
ESG
For those that think WE are the Center of the Universe 🤣😅😂
Confident vs. Insecure People
Day by day…
Managing Complex Change
The Cone of Learning
The Hero’s Journey
Electromagnetic Field of the Heart
I-Ching
Language creates Reality
Sex Organs of the Machine World
Philosopher’s Stone
Isaac Newton
Abracadabra
Singularity
Multi-Mind Thought Control Process
APPLE INC.
Retrocausality
CERN
EGO
SYSCOIN ECOSYSTEM
JagStein
SysCoin
Bitcoin might bury FIAT 🙂 🤭 🙃
DEFI Ecosystem on Ethereum
DeFi Stack
Bitcoin Mining Ecosystem Map
…the other 6 Billion
bitcoin
This is about the other 6 Billion…
Top NFT Projects
Business Cycles
Central’s Bank’s 3 Strategies
Global Debt
Defender of the Flower
Flower of Life
Sacred Geometry
Seed & Flower of Life
Knowledge – An Antidote to Fear
JOIN THE REVOLUTION 😋 🤣 😋
Emotion – Judgement – Action
…violent recolution inevitable.
E S B I
Every generation…
LOVE YOUR RAGE
NOT YOUR CAGE
Revolution
The Times – January 3, 2009
REVOLUTION
Bitcoin Genesis Block – 03 January 2009
Introduction to Bitcoin
Introduction to Decentralized Finance
Introduction to Digital Currencies
All Metals We Mined
Map to Multiplication
Nikola Tesla
Top VC’s Investing in BlockChain Companies
Athmospheres of the Solar System
Global GDP 2021
Map of CyberSecurity Domains
21 Questions
Six Innovation Models
What May Happen in the next 100 Years
Abstract – “…to pull the body out
of dimension so that the person
can walk through solid objects
such as wooden doors.”
Okay 🤯 😳 🤯 ?¿?
China’s Social Credit System
Blockchain Platforms Comparison (BCP)
ARISE
With 💚

BEWARE OF THESE PEOPLE !!!

Beware of these People !!!

ALWAYS DO YOUR OWN RESEARCH AND DUE-DILIGENCE !!!

I WOULDN’T WASTE MY TIME WITH PEOPLE THAT DON’T/WON’T/CAN’T TEACH YOU SOMETHING USEFUL !!!

TIME IS YOURS… CHOICE IS YOURS

https://bitcoin-resources.com/

Made with 💚 by Free Spirit

✌ & 💚

BitHouse with 💚