Say ! NO ! to CBDC’s

I bet you all the “Free” Cbdc’s the governments are going to give you in the next couple of years, that poor littl’ George Orwell rolls in his grave and burns inside of Envy… because his imagination fades compared to the nightmare bound to come in a city near you !!!

By all means and preety please DO NOT TAKE MY WORD FOR IT but instead D.Y.O.R. (Do Your Own Research) and reach your own conclusions !!!

Here below is a nice place to start ! Enjoy !

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
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To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

The Art of War Quotes

The Art of War (Chinese: 孫子兵法; lit. ‘Sun Tzu’s Military Method’, pinyin: Sūnzi bīngfǎ) is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC).

The work, which is attributed to the ancient Chinese military strategist Sun Tzu (“Master Sun”), is composed of 13 chapters. Each one is devoted to a different set of skills or art related to warfare and how it applies to military strategy and tactics.

For almost 1,500 years it was the lead text in an anthology that was formalized as the Seven Military Classics by Emperor Shenzong of Song in 1080.

The Art of War remains the most influential strategy text in East Asian warfare and has influenced both East Asian and Western military theory and thinking and has found a variety of applications in a myriad of competitive non-military endeavors across the modern world including espionage, culture, politics, business, and sports.

When you start to read Sun Tzu’s words, you may realize that they have very real applications to modern life, especially if you are in a position of leadership or if you deal regularly with strategic questions.

These musings can be applied to practical problems you may be trying to solve, and they can also be good starting points for more theoretical reflection.

Topics that span from philosophy and wisdom to strategy and leadership, here are the most notable quotes from The Art of War.

Quotes on the Philosophy of War

“The art of war is of vital importance to the State. It is a matter of life and death, a road either to safety or to ruin.”
“All warfare is based on deception.”
“It is only one who is thoroughly acquainted with the evils of war that can thoroughly understand the profitable way of carrying it on.”
“The skillful soldier does not raise a second levy, neither are his supply-wagons loaded more than twice.”
“To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy’s resistance without fighting.”
“He will win who knows when to fight and when not to fight.”
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
“What the ancients called a clever fighter is one who not only wins, but excels in winning with ease.”
“Making no mistakes is what establishes the certainty of victory, for it means conquering an enemy that is already defeated.”
“Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing.”
“Success in warfare is gained by carefully accommodating ourselves to the enemy’s purpose.”
“Energy may be likened to the bending of a crossbow; decision, to the releasing of the trigger.”
“Anger may in time change to gladness; vexation may be succeeded by content. But a kingdom that has once been destroyed can never come again into being; nor can the dead ever be brought back to life.”
“If your opponent is of choleric temper, seek to irritate him. Pretend to be weak, that he may grow arrogant.”
“In war, practice dissimulation, and you will succeed.”
“If the enemy leaves a door open, you must rush in.”
“We cannot enter into alliances until we are acquainted with the designs of our neighbors.”
“The experienced soldier, once in motion, is never bewildered; once he has broken camp, he is never at a loss.”
“If you know the enemy and know yourself, your victory will not stand in doubt.”

Quotes on War and Leadership

It is clear throughout The Art of War that victory is explicitly related to the strength of an army’s leader. Sun Tzu’s advice for generals and commanders applies to many kinds of leaders.

“The general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand.”
“The general who is skilled in defense hides in the most secret recesses of the earth; he who is skilled in attack flashes forth from the topmost heights of heaven.”
“The consummate leader cultivates the moral law, and strictly adheres to method and discipline; thus it is in his power to control success.”
“Simulated disorder postulates perfect discipline; simulated fear postulates courage; simulated weakness postulates strength.”
“Whoever is first in the field and awaits the coming of the enemy, will be fresh for the fight; whoever is second in the field and has to hasten to battle will arrive exhausted.”
“The quality of decision is like the well-timed swoop of a falcon which enables it to strike and destroy its victim.”
“All men can see the tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.”
“Do not repeat the tactics which have gained you one victory, but let your methods be regulated by the infinite variety of circumstances.”
“He who can modify his tactics in relation to his opponent and thereby succeed in winning, may be called a heaven-born captain.”
“The difficulty of tactical maneuvering consists in turning the devious into the direct, and misfortune into gain.”
“Maneuvering with an army is advantageous; with an undisciplined multitude, most dangerous.”
“We are not fit to lead an army on the march unless we are familiar with the face of the country—its mountains and forests, its pitfalls and precipices, its marshes and swamps.”
“Move not unless you see an advantage; use not your troops unless there is something to be gained; fight not unless the position is critical.”
“No ruler should put troops into the field merely to gratify his own spleen; no general should fight a battle simply out of pique.”
“What enables the wise sovereign and the good general to strike and conquer, and achieve things beyond the reach of ordinary men, is foreknowledge.”
“When the general is weak and without authority; when his orders are not clear and distinct; when there are no fixed duties assigned to officers and men, and the ranks are formed in a slovenly haphazard manner, the result is utter disorganization.”
“If fighting is sure to result in victory, then you must fight, even though the ruler forbid it; if fighting will not result in victory, then you must not fight even at the ruler’s bidding.”
“Regard your soldiers as your children, and they will follow you into the deepest valleys; look upon them as your own beloved sons, and they will stand by you even unto death.”
“The general who advances without coveting fame and retreats without fearing disgrace, whose only thought is to protect his country and do good service for his sovereign, is the jewel of the kingdom.”
“A leader leads by example not by force.”

Quotes on War and Strategy

Sun Tzu’s strategic counsel can still be used in the 21st century. Whether you are creating a business strategy or devising steps to pursue a personal goal, these quotes from The Art of War may offer some valuable insights and guidance.

“Hold out baits to entice the enemy. Feign disorder, and crush him.”
“If equally matched, we can offer battle; if slightly inferior in numbers, we can avoid the enemy; if quite unequal in every way, we can flee from him.”
“Thus it is that in war the victorious strategist only seeks battle after the victory has been won, whereas he who is destined to defeat first fights and afterwards looks for victory.”
“The control of a large force is the same principle as the control of a few men: it is merely a question of dividing up their numbers.”
“The clever combatant looks to the effect of combined energy, and does not require too much from individuals.”
“You can be sure of succeeding in your attacks if you only attack places which are undefended.”
“O divine art of subtlety and secrecy! Through you we learn to be invisible, through you inaudible; and hence we can hold the enemy’s fate in our hands.”
“Numerical weakness comes from having to prepare against possible attacks; numerical strength, from compelling our adversary to make these preparations against us.”
“Knowing the place and the time of the coming battle, we may concentrate from the greatest distances in order to fight.”
“In making tactical dispositions, the highest pitch you can attain is to conceal them.”
“Carefully compare the opposing army with your own, so that you may know where strength is superabundant and where it is deficient.”
“To take a long and circuitous route, after enticing the enemy out of the way, and though starting after him, to contrive to reach the goal before him, shows knowledge of the artifice of deviation.”
“Let your rapidity be that of the wind, your compactness that of the forest.”
“In raiding and plundering be like fire, in immovability like a mountain.”
“Place your army in deadly peril, and it will survive; plunge it into desperate straits, and it will come off in safety.”
“Forestall your opponent by seizing what he holds dear, and subtly contrive to time his arrival on the ground.”
“Walk in the path defined by rule, and accommodate yourself to the enemy until you can fight a decisive battle.”
“At first, then, exhibit the coyness of a maiden, until the enemy gives you an opening; afterwards emulate the rapidity of a running hare, and it will be too late for the enemy to oppose you.”
“If it is to your advantage, make a forward move; if not, stay where you are.”
“If you know the enemy and know yourself, your victory will not stand in doubt; if you know Heaven and know Earth, you may make your victory complete.”
“Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.”

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
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My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
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To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

20 Security Rules for bitcoin

20 Rules for Security in bitcoin

Here’s a short list of common sense Rules, to use and implement for a better Security while using bitcoin and other cryptocurrencies.

In the hopes that they are quite self-explanatory Rules, please do try for your own good and your assets, to follow them…

If you have any questions, please do not hesitate to ask in the comments.

Keep your private keys safe and secure, and never share them with anyone.
Use a hardware wallet to store your bitcoins offline and away from potential hackers.
Use a strong and unique password for your wallet and any exchange account.
Be wary of phishing attempts and never click on links from unknown sources.
Use multi-factor authentication (MFA) whenever possible to secure your accounts.
Use a different password for each account and change them frequently.
Avoid using public Wi-Fi networks for sensitive transactions.
Keep your computer and mobile devices secure with updated antivirus and anti-malware software.
Use a separate address for each transaction, and avoid reusing addresses.
Verify the authenticity of any website or service you use for Bitcoin transactions.
Use a reputable and secure Bitcoin exchange or wallet service.
Use a hardware token or other secure means of 2FA, avoid using SMS.
Be mindful of social engineering and do not reveal personal information to unknown parties
Use a unique email address and phone number for every exchange account.
Keep a copy of your private key, Seed Phrase or wallet recovery phrase in a safe place.
Be skeptical of unsolicited offers, promotions or services.
Learn about the security features of your wallet and use them.
Do not leave your funds on exchange for long time.
Educate yourself about the risks of using Bitcoin and other cryptocurrencies.
Regularly monitor your accounts and transactions for suspicious activity.

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
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My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

4th Year WordPress Anniversary

It’s been 4 years already and it seems I haven’t done nothing at all… With the little time I could spare to work on this blog, I hope I bought a tiny seed of knowledge into your 🧠zz my dear readers 😁🙂😉😋

I will try the best of my abilities to continue the work on the blog !

Untill then dear readers never forget :

Let’s find the courage and strenght, if not for us then for Them… the Future Generations that are to come after us and Go…

And let Us All …

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Happy Genesis Block Day

January 3rd 2023 – Bitcoin 14th Anniversary

Happy Genesis Block Day! January 3 is the 14th anniversary of Bitcoin’s Block Zero, its anchor in time.

The first sentence of the email has become iconic among the Bitcoin community:

“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”

On January 3, 2009, the genesis block of the Bitcoin blockchain was mined by its pseudonymous creator Satoshi Nakamoto, marking the first time in history that a completely digital and decentralized currency went online.

In the 14 years and three halvings since, Bitcoin has grown to become one of the most important financial instruments, clearly demonstrating that a non-central bank-controlled currency is capable of challenging the established monetary order.

That time, in 2009, was one of economic turmoil—and the aftershocks from that turmoil are still rocking our world in 2023.

The Genesis Block was never “mined” like every other Bitcoin block. That started with Block #1 when Satoshi Nakamoto released the software on SourceForge.

The hash from Block #0 was done with different software and hard-coded into the original Bitcoin protocol.

“Chancellor on brink of second bailout for banks” was the Times headline. Satoshi hid in the first block’s coinbase hash as a timestamp to prove there had been no mining on the Bitcoin network before he released the software to the public.

“The Chancellor will decide within weeks whether to pump billions more into the economy,” the original article in the Times said. In 2009 these seemed like desperate measures, and they were. Since 2009, though, governments across the Western world have indeed pumped billions, even trillions more, into their economies.

Satoshi was making a statement on irresponsible government interventions in the economy and their eventual erosion on markets.

“They actively sought to incentivise bad behaviour and push in typical Keynesian style the problem down the road. It would be a bigger problem, but it would be someone else’s problem.”

Just like the economy at large, Bitcoin is a long-term struggle against the worse aspects of human nature.

10 most important Bitcoin Milestones

Bitcoin has reached numerous major milestones and faced several considerable obstacles over its nearly decade-and-a-half-long history.

Here are 10 events that had the biggest impact on Bitcoin so far:

November 28, 2012: First Bitcoin halving
February 28, 2014: Mt. Gox, the biggest Bitcoin exchange at the time, files for bankruptcy
July 9, 2016: Second Bitcoin halving
August 1, 2017: Bitcoin Cash hard fork
May 11, 2020: Third Bitcoin halving
February 8, 2021: Tesla invests in Bitcoin
February 20, 2021: Bitcoin reaches $1 trillion market cap for the first time
September 7, 2021: El Salvador makes Bitcoin legal tender
November 14, 2021 – Taproot upgrade is activated
November 11, 2022: Major crypto exchange FTX files for bankruptcy

Bitcoin has never closed in the red zone 2 years in a row: Will the trend continue?

Bitcoin price decreased by over -60% over the span of the last 12 months. However, there is a strong bullish precedent in play that could spell a major trend reversal in the coming months.

For starters, Bitcoin has never closed in the negative two years in a row. Granted, there is a relatively short set of historical price data to work with.

However, roughly speaking, Bitcoin has operated on 3 years of growth followed by 1 year of market retracement periods, at least so far

For world-renowned charities such as Save the Children, the White aper and the subsequent creation of Bitcoin have benefited the organization.

Antonia Roupell, Web3 lead at Save the Children, told Cointelegraph that the organization recognizes “Bitcoin’s potential to be a force for good and a force for financial inclusion,” adding:

“On Bitcoin’s 14th anniversary, and at a time of increasingly global financial inequality, the phrase ‘bitcoin is for anyone’ really resonates.”

Sources:

https://cointelegraph.com/
https://medium.com/
https://coincodex.com/
https://coingeek.com/

International payment using the radio wavesJanuary 31, 2024
In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
Happy New Year !!!!January 2, 2024
Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
Merry Christmass and A Happpy New Year to allDecember 23, 2023
To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

Seven common mistakes crypto investors and traders make

Cryptocurrency markets are volatile enough without making simple, easily avoidable mistakes.

Investing in cryptocurrencies and digital assets is now easier than ever before. Online brokers, centralized exchanges and even decentralized exchanges give investors the flexibility to buy and sell tokens without going through a traditional financial institution and the hefty fees and commissions that come along with them.

Cryptocurrencies were designed to operate in a decentralized manner. This means that while they’re an innovative avenue for global peer-to-peer value transfers, there are no trusted authorities involved that can guarantee the security of your assets. Your losses are your responsibility once you take your digital assets into custody.

Here we’ll explore some of the more common mistakes that cryptocurrency investors and traders make and how you can protect yourself from unnecessary losses.

Losing your keys

Cryptocurrencies are built on blockchain technology, a form of distributed ledger technology that offers high levels of security for digital assets without the need for a centralized custodian. However, this puts the onus of protection on asset holders, and storing the cryptographic keys to your digital asset wallet safely is an integral part of this.

On the blockchain, digital transactions are created and signed using private keys, which act as a unique identifier to prevent unauthorized access to your cryptocurrency wallet. Unlike a password or a PIN, you cannot reset or recover your keys if you lose them. This makes it extremely important to keep your keys safe and secure, as losing them would mean losing access to all digital assets stored in that wallet.

Lost keys are among the most common mistakes that crypto investors make. According to a report from Chainalysis, of the 18.5 million Bitcoin (BTC) mined so far, over 20% has been lost to forgotten or misplaced keys.

Storing coins in online wallets

Centralized cryptocurrency exchanges are probably the easiest way for investors to get their hands on some cryptocurrencies. However, these exchanges do not give you access to the wallets holding the tokens, instead offering you a service similar to banks. While the user technically owns the coins stored on the platform, they are still held by the exchange, leaving them vulnerable to attacks on the platform and putting them at risk.

There have been many documented attacks on high-profile cryptocurrency exchanges that have led to millions of dollars worth of cryptocurrency stolen from these platforms. The most secure option to protect your assets against such risk is to store your cryptocurrencies offline, withdrawing assets to either a software or hardware wallet after purchase.

Not keeping a hard copy of your seed phrase

To generate a private key for your crypto wallet, you will be prompted to write down a seed phrase consisting of up to 24 randomly generated words in a specific order. If you ever lose access to your wallet, this seed phrase can be used to generate your private keys and access your cryptocurrencies.

Keeping a hard copy record, such as a printed document or a piece of paper with the seed phrase written on it, can help prevent needless losses from damaged hardware wallets, faulty digital storage systems, and more. Just like losing your private keys, traders have lost many a coin to crashed computers and corrupted hard drives.

Fat-finger error

A fat-finger error is when an investor accidentally enters a trade order that isn’t what they intended. One misplaced zero can lead to significant losses, and mistyping even a single decimal place can have considerable ramifications.

One instance of this fat-finger error was when the DeversiFi platform erroneously paid out a $24-million fee. Another unforgettable tale was when a highly sought-after Bored Ape nonfungible token was accidentally sold for $3,000 instead of $300,000.

Sending to the wrong address

Investors should take extreme care while sending digital assets to another person or wallet, as there is no way to retrieve them if they are sent to the wrong address. This mistake often happens when the sender isn’t paying attention while entering the wallet address. Transactions on the blockchain are irreversible, and unlike a bank, there are no customer support lines to help with the situation.

This kind of error can be fatal to an investment portfolio. Still, in a positive turn of events, Tether, the firm behind the world’s most popular stablecoin, recovered and returned $1 million worth of Tether (USDT) to a group of crypto traders who sent the funds to the wrong decentralized finance platform in 2020. However, this story is a drop in the ocean of examples where things don’t work out so well. Hodlers should be careful while dealing with digital asset transactions and take time to enter the details. Once you make a mistake, there’s no going back.

Over diversification

Diversification is crucial to building a resilient cryptocurrency portfolio, especially with the high volatility levels in the space. However, with the sheer number of options out there and the predominant thirst for outsized gains, cryptocurrency investors often end up over-diversifying their portfolios, which can have immense consequences.

Over-diversification can lead to an investor holding a large number of heavily underperforming assets, leading to significant losses. It’s vital to only diversify into cryptocurrencies where the fundamental value is clear and to have a strong understanding of the different types of assets and how they will likely perform in various market conditions.

Not setting up a stop-loss arrangement

A stop-loss is an order type that enables investors to sell a security only when the market reaches a specific price. Investors use this to prevent losing more money than they are willing to, ensuring they at least make back their initial investment.

In several cases, investors have experienced huge losses because of incorrectly setting up their stop losses before asset prices dropped. However, it’s also important to remember that stop-loss orders aren’t perfect and can sometimes fail to trigger a sale in the event of a large, sudden crash.

That being said, the importance of setting up stop losses to protect investments cannot be understated and can significantly help mitigate losses during a market downturn.

Crypto investing and trading is a risky business with no guarantees of success. Like any other form of trading, patience, caution and understanding can go a long way. Blockchain places the responsibility on the investor, so it’s crucial to take the time to figure out the various aspects of the market and learn from past mistakes before putting your money at risk.

21M or Death

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.

If you own 0.28 BTC and HODL, you can be certain no more than 1% of the current world's population can EVER own more BTC than you. A modest investment of $1,830 today can ensure you are a 1%er in a future Bitcoin world. https://t.co/9k3XZa09Yo
— Steve Lee (@moneyball) October 2, 2018

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.

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In a first, Bitcoin developers have done something amazing amid the criticism over the lightning network and issues associated with it. A team of developers has made an international payment using the radio … Continue reading International payment using the radio waves →
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Happy New Year!May the coming year be full of grand adventures , peace, prosperity and opportunities.Dream big and make the most of 2024!
Discipline QuotesDecember 23, 2023
My inspiration for this page was given to me by my new aquired friend, a fellow Truth Seeker – Joris and to whom I dedicate this page… Wish you… as well as to … Continue reading Discipline Quotes →
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To all my readers from the bottom of my heart I wish you Happy Holiday among family and friends, a jolly Merry Christmas and a Happy New Year and may 2024 bring you … Continue reading Merry Christmass and A Happpy New Year to all →
Bitcoin White Paper turn 15October 31, 2023
Bitcoin white paper turns 15 and the Legacy of Satoshi Nakamoto lives on. “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi Oct. 31, … Continue reading Bitcoin White Paper turn 15 →

First Time/Small Miner

First time/Small miner reference
for getting started.

If you want to start mining here is what you need… and what you need to know.

This is written for home miners/small farms, but can be used as a guideline for most operations. Use this as a reference for what you need to research, or what questions you need to ask before jumping in.

What you need to mine can be broken down into the following categories:

Hardware
Electricity
Location
Internet connection
Information

Mining BITCOIN is done exclusively with dedicated BITCOIN mining hardware based on ASICs: https://en.wikipedia.org/wiki/Application-specific_integrated_circuit .

You CAN NOT meaningfully mine bitcoin today with CPU, GPU or even FPGAs. Bitcoin difficulty adapts to match the amount of mining done on the network and has reached levels trillions of times too high to mine meaningfully with PCs, laptops, tablets, phones, webpages, javascript, GPUs, and even generalised SHA hardware.

Even if you combined all the computers in the world, including all known supercomputer, you would not even approach 0.1% of the bitcoin hashrate today.

There isn’t any point attempting to mine bitcoin with CPU or GPU even in the interests of learning as it shares almost nothing with how bitcoin is mined with ASICs and will not teach you anything.

Hardware

Asic Miner:

Here is a list of the companies currently manufacturing Miners for public purchase.

Each one has their Pro’s and Con’s it is up to you to do your research and decide what is best for you.

A few points to consider while researching are :

efficiency
reliability
warranty period/policy
power draw

Each company has a different way of handling warranty repairs, depending on your situation and the policy repairs can become cost prohibitive. I will touch more on efficiency and power draw in the electricity section.

• Current list of competitive hardware

Power supply: You will need to purchase a power supply to run your miners. You will find ATX and Server grade PSU’s, the latter being preferred for mining BTC.

When it comes to selecting a PSU purchase something with a capacity 25% higher than your miner is rated to draw. This will have you operating within the 80% rule.(explained further in the electricity section)

EX. Miner draws 1000 PSU should be able to provide 1250W.

** Many current generation miners are now being manufactured with Integrated PSU. Again do your research to see if your unit comes with or without. Generally you will still need to source a power cable.**

Auxilliaries – Avalon miners require an external controller, 1 per 20 miners. You may have to run additional fans for intake and exhaust depending on your location.

PSU’s can be purchased large enough to run 2 Miners; or the opposite 1 Miner fed by 2 PSU’s. Ensure the PSU you have selected will have the correct amount of PCI-E connectors required to operate your miner(s)

You can also find a large supply of used miners and PSU’s. Again it’s up to you to do your research as these often are a no return transaction.

Electricity

Follow all local codes and regulations

This is the number 1 factor in whether mining is right for you. As discussed with Miners being a 24/7 machine drawing power those costs will make it cost prohibitive for some people to mine. You need to be aware of what your costs/kWh are and run the numbers.

This will be done in a profitability calculator. This is just an example of 1 there are many out there.

( Miner usage in kW ) * ( Hours run per day ) 24 * ( Cost/kWh ) = Cost per Day to Operate

( Ideally less than the FIAT value of BTC mined )

The second part to the electrical requirements of mining is the available service; written for North America.

You will need to figure out the amperage you can spare, what circuits and receptacles you have in place, are you setting up on 220V or 110V. You will need to make sure that you have the right cord end for your PSU to match the receptacle, picking the wrong one can cost you a few days of mining if it has to be shipped.

If you can try and set up on a 220V circuit for 2 reasons :

– You will pull half the amps, and it is more efficient.

– Doing so requires 2 breaker spaces in your panel. Breaker sizing will depend on how many miners you plan to run. Here is the formula for calculating amps.

Watts / Voltage = Amps

Here is where you will bring the 80% rule back into play by sizing the continuous miner load to 80% of the breaker rating. 12 Amps on a 15 Amp breaker, 16 Amps max on a 20 Amp breaker, 24 Amps on a 30 amp breaker.

If/when you increase the amount of miners you are running you may want to look into PDU’s, as opposed to more receptacles.

Location

This is something that is often overlooked to the headache and frustration of many would be miners. These machines are loud and hot .
You essentially have an electric heater that also uses an industrial fan to keep it from melting itself. This space will need to have the electrical requirements as discussed previously.

So make sure you have a space that is well ventilated with a plan to exhaust heat, and bring in fresh dust free air. I say this as using AC to cool the room will eat into your profits and may even make mining unprofitable.

The noise issue is a consideration you can sort out depending on whats available. (garage, basement, remote building)

Both of these issues can be handled with hosting, which is further explained in the information section.

Internet connection

Some miner setups have the option to use wifi. It is advisable to use a wired connection where available. This will provide a more stable connection and ensure you are submitting the expected amount of shares which is directly related to your payouts.

Please note that mining uses a negligible amount of bandwidth, and will not affect your other internet usage.

Information

You can use this information in this post as a good baseline to get you going. In addition to this you will want to research network difficulty; this readjusts every 2016 blocks to maintain a 10 minute block time on average. While this can go down it generally increases.

Solo or Pool?

You can solo mine but this is essentially a lottery even as a large scale miner. Should you chose this you can check this out as a starting point.

solo.ckpool.org 1% fee solo mining USA/DE 250 blocks solved!

Odds are most of you will join a pool. I will only say that it is in your best interest to mine at a pool that pays transaction fees (miner rewards). Then you will want to consider the fees associated with the pool.

When it comes to these pools you want them to be large enough that they are getting at least 1 block every Difficulty adjustment period. Larger pools will offer smaller rewards paid out more frequently, and vice versa.

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