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.
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 … Continue reading Running bitcoin – Hal Finney→
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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 … Continue reading Happy Genesis Block Day→
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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 Times – January 3 2009
“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.
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.
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
Bitcoin Change Year-over-Year
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.”
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 … Continue reading Running bitcoin – Hal Finney→
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 … Continue reading 4th Year WordPress Anniversary→
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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→
Just as the crypto industry is expanding and getting local adoption from individuals, co-operations, organisations and few countries the same rate at which we have crypto enthusiast increasing in number which i see so worrisome and also a call for major concern.
Reason been that as more people get involved in the crypto business the more scammers are likely to increase their technique and the more scammers get recruited.
To avoid walking on scammers path, requires to be well informed of every new technique they can ever deploy against their potential victim.
To stay off scammers path users must:
Avoid phishing links.
Make sure to pay attention to the spelling of the website, as well as their URL as this can reveal whether it is a phishing site or not.
Never invest in a project without a well structured community
Pay close attention to the engagement within the community for suspicious activities
Ensure you assets are off CEX
Be more smart and less greedy
Don’t jump into a project/coin only based on the hype from advertisers (especially twitter)
Avoid any “too good to be true” investment
Avoid send me 1$ and I’ll send back 2$ scams, no matter how reputable is the account calling for that
Protect your coins (keep your coins on your wallet, use hardware wallet where possible, never give out wallet’s seed, keep backup seed offline)
Don’t be greedy and/or illiterate.
Be sure to feed yourself with necessary knowledge, if you want to invest.
Knowledge from experience is good but you can also take legitimate one from other people.
Not everything that is being offered to you is true. Do not be deceived.
Be careful who you are trusting.
Always be skeptical !!!
Enable Two-factor authentication for all your accounts.
Using of firewalls.
Installing an up to date anti virus software.
Use strong passwords and yet easily accessible ones for your convenience.
Stay away from malicious links or attachments you come across on the web.
Make sure your private keys are well stored and in hard wallet
Make sure your passwords are not vulnerable online to attacks i.e don’t store passwords online or any website
Whenever a stranger message you first for a business or an investment, it is a Red flag.
Someone who doesn’t know you would want you to make big money, another Red flag.
Whenever they introduce a” business opportunity” to you and then hasten you in order make you take a hasty decision it’s not genuine, they are trying their best to make you take a fast decision without telling your loved ones and friends who will discourage you.
It is safer to assume anyone you don’t know, communicating with you is a scammer until it is proven otherwise.
Read the whitepaper and research well of the company where you are going to invest because many scams are done by this method.
Check whether it is genuine or fake.
Scammers are constantly upgrading their scam methods and anyone can be the next target.
Loss doesn’t just happen due to an internal or intentional mistake, and when it does happen everyone has a similar sense of remorse and risks that are absolute consequences.
You’ll be fooled many times by those scammers that have maintained a well structured fake community.
They can hire those PRs and people talking inside their community to make it look like they’re a legit community.
As for their workers, they’ll just tell that they need engagement but the purpose of it, they’re not talking about it because that’s what the main purpose it.
And that’s to make it look genuine that they have real people inside the community. But in reality, it’s all fake people that they’ve hired just to make discussions all over their place.
It’s safe to say as well that it’s not just the crypto industry that is not safe for newbies, everything that talks about money is not safe for everyone.
Crypto is the latest thing and in the last 5 years it become so successful that scammers make this as their paradise as there are a lot of naive investors in the market.
Do your investigations, and don’t listen to influencers and believe them.
Think that this is your hard earn money so you need to be careful where you are going to invest it.
Don’t be Greedy.
Don’t jump on it like a hungry cow.
Don’t trust the sweet words they offer you. Most of them are too good to be true but they will always sound inviting to invest with.
Make a wall to not fully support them unless they have proven themselves worthy of that kind of respect.
Always be in doubt. That will be the shield that will protect you from being scammed.
Must simply assume that our coins are never really safe despite our best efforts, so it is important to always be on alert and protect our coins to the best of our ability.
Improve the security of your coins by an important margin by buying a hardware wallet, since they are very secure devices and they are relatively cheap, instead of risking storing our coins in our computers or at an exchange.
Always good to know how to make technical and fundamental analysis so that you can get specific information what is the situation of the projects you want to invest
Many projects are delivering a good testament, but they always ended into a scam , so we need to be smart enough and have a lot of preparation before investing or trading
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 … Continue reading Running bitcoin – Hal Finney→
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 … Continue reading 4th Year WordPress Anniversary→
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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→
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 … Continue reading Running bitcoin – Hal Finney→
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 … Continue reading 4th Year WordPress Anniversary→
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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→
Bitcoin is a monetary good — a new form of money. As Bitcoin is a money, it must be compared to other monies to consider the comparative advantages of Bitcoin and from that consider further the probabilities of Bitcoin winning ground or not in the competition between monies.
Brief summarization of the monetary properties
Summarization of the monetary properties of Bitcoin compared to precious metals and fiat currencies
As the exhibit above showcases, Bitcoin offers many different distinct and compelling competitive advantages to the alternatives.
These include, but are not limited to:
1. Bitcoin is the first asset in the human history to provide any holder a very sure case of unseizability and censorship- and judgment-resistance for their funds.
◦ Unseizability: With precious metals and fiat currencies, the custodianship is mostly in the hands of trusted custodians that is subject to any intervention by a government or authority.
Bitcoin, with self-custody being orders of magnitude easier than with precious metals and fiat currencies, and access to the corresponding private key of funds being the sole way to access and move funds, no one can seize your bitcoins.
◦ Censorship- and judgment resistance: With precious metals and fiat currencies, the payment clearing for small value transactions can with not much hassle be somewhat censorship resistant if the involved parties are willing to transact in the physical units of precious metals and fiat currencies and to self-custody the funds going forward.
However, with non-small value transactions it is exceedingly inconvenient and costly for transactions of precious metals and fiat currencies to happen in the offline, with physical units and self-custody going forward, leaving the centralized intermediaries as the only option and these are subject to any intervention by a government or authority.
Bitcoin, with the payment clearing involving no centralized intermediaries but instead a decentralized and distributed setup requiring no AML/KYC, the result is that of a the payment clearing process being permissionless, allowing anyone with cryptographic access to funds to move them at their will.
2. Bitcoin provides an inherently apolitical global monetary unit. It is truly border-less, with no recognition of any jurisdictional rules and laws, allowing the jurisdiction of a counterpart in any transaction to be of no relevance.
◦ Fiat currencies are highly political and precious metals are less political than fiat currencies, but still much more political than Bitcoin.
◦ Bitcoin is truly border-less: any bitcoin funds can be accessed anywhere on the planet by having access to information that can even be stored inside a human brain and reliably retrieved at small effort — and, crucially, with no intermediary and no permission required the bitcoin funds can be moved to anywhere in the world with final settlement in the next block.
3. Bitcoin provides scarcity and salability through time characteristics vastly superior to any other monetary options, including fiat currencies and precious metals.
◦ The non-discretionary monetary policy of the bitcoin networking allowing for the asymptotic money supply* of 21 million BTC is built into the literal definition of the protocol. This is a drastic contrast to the arbitrary scarcity of fiat currencies governed by politics.
The scarcity of precious metals is much better than fiat currencies, but Bitcoin with the strictly fixed money supply outperforms any precious metal.
Bitcoin provides any holder a reassurance stronger than any other asset in the world that their ownership stake in the total quantity of Bitcoin on the market will never diluted.
One BTC of 21 million will always be one BTC of 21 million.
◦ Bitcoins are infinitely durable, impossible to counterfeit or dilute, can be stored at no cost and at no degradation.
* By inventing Bitcoin, Satoshi Nakamoto created the first example of a digital good (in this case, monetary good) that is impossible to reproduce ad infinitum, thereby creating the first instance of human history of digital scarcity.
Less talked about it, but perhaps more important, Satoshi Nakamoto with Bitcoin also created the first example of a good being absolute scarce.
Previously, any consideration of scarcity of a good was relative. Any physical good is never absolutely scarce, onlyrelatively scarce when compared to other goods — simply because any limit on a physical goods is a function of the time and human effort put towards producing the good.
Bitcoin, with the asymptotic monetary supply built into the protocol, is therefore the first example of absolute scarcity in a liquid commodity and good that cannot have its fixed quantity of supply increased.
People’s MoneyPower to the PeopleThe seed has been planted… Make it Thrive !!!ChooseVeritas non Auctoritas …Choose Wisely
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 … Continue reading Running bitcoin – Hal Finney→
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 … Continue reading 4th Year WordPress Anniversary→
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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→
It is from the epithet of a parable, explaining that a fool waits for the stream to stop before crossing, while a wise man forgoes comfort and crosses anyway.
It is a frequently used motto for academic institutions.
Kant answers the question in the first sentence of the essay: “Enlightenment is man’s emergence from his self-incurred immaturity (Unmündigkeit).”
He argues that the immaturity is self-inflicted not from a lack of understanding, but from the lack of courage to use one’s reason, intellect, and wisdom without the guidance of another.
Kant argued that using one’s reason is considered dangerous by most men and all women.
He exclaims that the motto of the Enlightenment is “Sapere aude“! – Dare to be wise!
“Enlightenment is man’s release from his self-incurred tutelage.
Tutelage is man’s inability to make use of his understanding without direction from another.
Self-incurred is this tutelage when its cause lies not in lack of reason but in lack of resolution and courage to use it without direction from another.
Sapere Aude!
‘Have courage to use your own reason!’- that is the motto of enlightenment.”
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 … Continue reading Running bitcoin – Hal Finney→
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 … Continue reading 4th Year WordPress Anniversary→
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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→
Gold is a chemical element with the symbol Au (from Latin: aurum) and atomic number 79, making it one of the higher atomic number elements that occur naturally.
It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form.
Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions.
Gold often occurs in free elemental (native) form, as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite.
Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).
A relatively rare element, gold is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history.
Still, gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a fiat currency system after 1971.
As of 2017, the world’s largest gold producer by far was China, with 440 tonnes per year.
A total of around 201,296 tonnes of gold exists above ground, as of 2020. This is equal to a cube with each side measuring roughly 21.7 meters (71 ft).
Gold’s high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion-resistant electrical connectors in all types of computerized devices (its chief industrial use).
The world consumption of new gold produced is about 50% in jewelry, 40% in investments and 10% in industry.
Gold is also used in infrared shielding, colored-glass production, gold leafing, and tooth restoration. Certain gold salts are still used as anti-inflammatories in medicine.
F I A T
Fiat money (from Latin: fiat, “let it be done”) is a type of money that is not backed by any commodity such as gold or silver, and typically declared by a decree from the government to be legal tender.
Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally established by government regulation.
Yuan dynasty banknotes are a medieval form of fiat money
Fiat money does not have intrinsic value and does not have use value. It has value only because the people who use it as a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people.
Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains a precious metal such as gold or silver which is embedded in the coin.
Fiat also differs from representative money, which is money that has intrinsic value because it is backed by and can be converted into a precious metal or another commodity.
Fiat money can look similar to representative money (such as paper bills), but the former has no backing, while the latter represents a claim on a commodity (which can be redeemed to a greater or lesser extent).
Government-issued fiat money banknotes were used first during the 11th century in China.
Fiat money started to predominate during the 20th century.
Money declared by a person, institution or government to be legal tender, meaning that it must be accepted in payment of a debt in specific circumstances.
State-issued money which is neither convertible through a central bank to anything else nor fixed in value in terms of any objective standard.
Money used because of government decree.
An otherwise non-valuable object that serves as a medium of exchange (also known as fiduciary money.)
The term fiat derives from the Latin word fiat, meaning “let it be done” used in the sense of an order, decree or resolution.
Bitcoin – Digital Gold
The most common, and best, ways to think about bitcoin is as “digital gold”.
Like gold, bitcoin doesn’t rely on a central issuer, can’t have its supply manipulated by any authority, and has fundamental properties long considered important for a monetary good and store of value.
Unlike gold, bitcoin is extremely easy and cheap to “transport”, and trivial to verify its authenticity.
Bitcoin is also “programmable”. This means custody of bitcoin can be extremely flexible. It can be split amongst a set of people (“key holders”), backed up and encrypted, or even frozen-in-place until a certain date in the future. This is all done without a central authority managing the process.
You can walk across a national border with bitcoin “stored” in your head by memorizing a key.
The similarities to gold, plus the unique features possible because bitcoin is purely digital, give it the “digital gold” moniker.
Sharing fundamental properties with gold means it shares use-cases with gold, such as hedging inflation and political uncertainty.
But being digital, bitcoin adds capabilities that are especially relevant in our modern electronic times.
The world does indeed need a digital version of gold.
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 … Continue reading Running bitcoin – Hal Finney→
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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 … Continue reading Happy Genesis Block Day→
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Assigning the most powerful supercomputer to mine bitcoin would be comparable to hiring a grandmaster chess player to move a pile of bricks by hand.
The job would get done eventually but the chess player is much better at thinking and playing chess than exerting energy to repetitively move bricks.
Likewise, combining the computing power of the most powerful supercomputers in the world and using them to mine bitcoin would essentially be pointless when compared to the ASIC machines used today.
ASICs are designed to do one thing as quickly and efficiently as possible, whereas a supercomputer is designed to do complicated tasks or math problems.
Since Bitcoin mining is a lottery based on random trial and error rather than complex math, specialization (ASICs)beatsgeneral excellence (supercomputers) everytime.
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 … Continue reading Running bitcoin – Hal Finney→
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 … Continue reading 4th Year WordPress Anniversary→
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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→
The Great Pyramid of Giza (also known as the Pyramid of Khufu or the Pyramid of Cheops) is the oldest and largest of the pyramids in the Giza pyramid complex bordering present-day Giza in Greater Cairo, Egypt.
Egyptologists conclude that the pyramid was built as a tomb for the Fourth Dynasty Egyptian pharaoh Khufu and estimate that it was built in the 26th century BC during a period of around 27 years.
Initially standing at 146.5 metres (481 feet), the Great Pyramid was the tallest man-made structure in the world for more than 3,800 years.
Over time, most of the smooth white limestone casing was removed, which lowered the pyramid’s height to the present 138.5 metres (454.4 ft).
What is seen today is the underlying core structure. The base was measured to be about 230.3 metres (755.6 ft) square, giving a volume of roughly 2.6 million cubic metres (92 million cubic feet), which includes an internal hillock.
The dimensions of the pyramid were 280 royal cubits (146.7 m; 481.4 ft) high, a base length of 440 cubits (230.6 m; 756.4 ft), with a seked of 5+1/2 palms (a slope of 51°50’40”).
The Great Pyramid was built by quarrying an estimated 2.3 million large blocks weighing 6 million tonnes total.
The majority of stones are not uniform in size or shape and are only roughly dressed.The outside layers were bound together by mortar.
Primarily local limestone from the Giza Plateau was used. Other blocks were imported by boat down the Nile: White limestone from Tura for the casing, and granite blocks from Aswan, weighing up to 80 tonnes, for the King’s Chamber structure.
There are three known chambers inside the Great Pyramid. The lowest was cut into the bedrock, upon which the pyramid was built, but remained unfinished. The so-called Queen’s Chamber and King’s Chamber, that contains a granite sarcophagus, are higher up, within the pyramid structure. Khufu’s vizier, Hemiunu (also called Hemon), is believed by some to be the architect of the Great Pyramid.
Many varying scientific and alternative hypotheses attempt to explain the exact construction techniques.
The funerary complex around the pyramid consisted of two mortuary temples connected by a causeway (one close to the pyramid and one near the Nile), tombs for the immediate family and court of Khufu, including three smaller pyramids for Khufu’s wives, an even smaller “satellite pyramid” and five buried solar barges.
Flavian Amphitheatre a.k.a Colloseum Rome – Italy
The Colosseum (Colosseo[kolosˈsɛːo]) is an oval amphitheatre in the centre of the city of Rome, Italy, just east of the Roman Forum.
It is the largest ancient amphitheatre ever built, and is still the largest standing amphitheatre in the world today, despite its age.
Construction began under the emperor Vespasian (r. 69–79 AD) in 72 and was completed in 80 AD under his successor and heir, Titus (r. 79–81).
Further modifications were made during the reign of Domitian (r. 81–96).
The three emperors that were patrons of the work are known as the Flavian dynasty, and the amphitheatre was named the Flavian Amphitheatre (Latin: Amphitheatrum Flavium; Italian: Anfiteatro Flavio[aɱfiteˈaːtro ˈflaːvjo]) by later classicists and archaeologists for its association with their family name (Flavius).
The Colosseum is built of travertine limestone, tuff (volcanic rock), and brick-faced concrete.
The Colosseum could hold an estimated 50,000 to 80,000 spectators at various points in its history having an average audience of some 65,000; it was used for gladiatorial contests and public spectacles including animal hunts, executions, re-enactments of famous battles, and dramas based on Roman mythology, and briefly mock sea battles.
The building ceased to be used for entertainment in the early medieval era.
It was later reused for such purposes as housing, workshops, quarters for a religious order, a fortress, a quarry, and a Christian shrine.
Although substantially ruined because of earthquakes and stone-robbers (for spolia), the Colosseum is still an iconic symbol of Imperial Rome and was listed as one of the New 7 Wonders of the World.
It is one of Rome’s most popular tourist attractions and also has links to the Roman Catholic Church, as each Good Friday the Pope leads a torchlit “Way of the Cross” procession that starts in the area around the Colosseum.
The Colosseum is also depicted on the Italian version of the five-cent euro coin.
Several walls were built from as early as the 7th century BC,with selective stretches later joined together by Qin Shi Huang (220–206 BC), the first emperor of China.
Little of the Qin wall remains. Later on, many successive dynasties built and maintained multiple stretches of border walls. The best-known sections of the wall were built by the Ming dynasty (1368–1644).
Apart from defense, other purposes of the Great Wall have included border controls, allowing the imposition of duties on goods transported along the Silk Road, regulation or encouragement of trade and the control of immigration and emigration.
Furthermore, the defensive characteristics of the Great Wall were enhanced by the construction of watchtowers, troop barracks, garrison stations, signaling capabilities through the means of smoke or fire, and the fact that the path of the Great Wall also served as a transportation corridor.
The frontier walls built by different dynasties have multiple courses. Collectively, they stretch from Liaodong in the east to Lop Lake in the west, from the present-day Sino–Russian border in the north to Tao River (Taohe) in the south; along an arc that roughly delineates the edge of the Mongolian steppe; spanning 21,196.18 km (13,170.70 mi) in total.
Today, the defensive system of the Great Wall is generally recognized as one of the most impressive architectural feats in history.
As history has left behind, monumental architectural constructions that we can admire and reamain in awe as we look at them, after thousands of years since the first stone was put, in today’s world our digital PoW can be seen and admired the same as the Great Wall of China or the Piramid of Giza !!!
Wich brings us to the question, what is Free talking about ?!?
Long Live the CypherPunksCypherPunks Write CodeGenesisBitcoin Genesis Block Mined 03 January 2009The Times January 3, 2009Bitcoin – Proof Of Work
Bitcoin-type Proof Of Work
In 2009, the Bitcoin network went online. Bitcoin is a proof-of-work digital currency that, like Finney’s RPoW, is also based on the Hashcash PoW.
But in Bitcoin, double-spend protection is provided by a decentralized P2P protocol for tracking transfers of coins, rather than the hardware trusted computing function used by RPoW.
Bitcoin has better trustworthiness because it is protected by computation. Bitcoins are “mined” using the Hashcash proof-of-work function by individual miners and verified by the decentralized nodes in the P2P bitcoin network.
The difficulty is periodically adjusted to keep the block time around a target time.
Since the creation of Bitcoin, proof-of-work has been the predominant design of peer-to-peer cryptocurrency. Studies have estimated the total energy consumption of cryptocurrency mining.
The PoW mechanism requires a vast amount of computing resources, which consume a significant amount of electricity. Recent estimates from the University of Cambridge put Bitcoin’s energy consumption as equal to that of Switzerland.
History modification
Each block that is added to the blockchain, starting with the block containing a given transaction, is called a confirmation of that transaction.
Ideally, merchants and services that receive payment in the cryptocurrency should wait for at least one confirmation to be distributed over the network, before assuming that the payment was done.
The more confirmations that the merchant waits for, the more difficult it is for an attacker to successfully reverse the transaction in a blockchain—unless the attacker controls more than half the total network power, in which case it is called a 51% attack.
2ASICs and mining pools
Within the Bitcoin community there are groups working together in mining pools.
Some miners use application-specific integrated circuits (ASICs) for PoW. This trend toward mining pools and specialized ASICs has made mining some cryptocurrencies economically infeasible for most players without access to the latest ASICs, nearby sources of inexpensive energy, or other special advantages.
Some PoWs claim to be ASIC-resistant, i.e. to limit the efficiency gain that an ASIC can have over commodity hardware, like a GPU, to be well under an order of magnitude.
ASIC resistance has the advantage of keeping mining economically feasible on commodity hardware, but also contributes to the corresponding risk that an attacker can briefly rent access to a large amount of unspecialized commodity processing power to launch a 51% attack against a cryptocurrency.
Plant the Seed The choice is YoursChoose Wisely The Choice is Yours
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Fear is SicknessGold is Money…Uni-VerseSuccessGenes that erase memoriesResearches can erase painful memories from the brainScientists deletes “Fearful” memories of RatsPokemon Go users give away all privacy rights“Broken People” = Raw MaterialRobert NoyceCompounding InterestSimple & Compound Interest FormulaSimple Interest & Compound InterestPBIS RewardsROI – Return On InvestmentPlay the role of a fool…Occult – Anatomy20 Fastest Growing + Declining JobsCauses and Effects of InflationThe History of LogisticsSSG 16.9 – Legal Identity for allScientists call for Protection from Non-Ionizing Electromagnetic Field ExposureProtest’s are Illegal and punished with Jail Time in a “Free” Society !!!?¿!!!Human Value ChainOpposition to the use of Blockchain Identity– Part 1Opposition to the use of Blockchain Identity– Part 2Human Capital Performance BondStrategies for Investing in Undervalued Human CapitalU.S Army TRADOC G-2Digitizing Government-to-Person (G2P) Payments
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The Times – January 3, 2009Bitcoin Genesis Block Mined 03 January 2009Cypherpunks Write CodeCODE IS LAW THE SOONER HUMANKIND ACCEPTS IT, THE SOONER IT CAN BUILD AROUND ITYeah.. I wonder Why 😂Bitcoin made easyHow a Bitcoin transaction worksA humble MinerHow Bitcoin Mining WorksMining DifficultyBitcoin HalvingBitcoin Previous HalvingsPoolsBitcoin WalletsBitcoin StakeholdersBitcoin FactsPower to the PeopleTotalitarian Governments can kiss my 256-bit keyBitcoin – People’s MoneyBitcoin cannot be Shut DownThe power of the long tail…Central Bank’s 3 StrategiesF**k them, Enough !!!Upcoming Smart Contracts NetworksBitcoin Yearly CandlesBitcoin Price History – Log ScaleBitcoin Mining Ecosystem MapDefi Ecosystem in EthereumDeFi Stack: Product& Application ViewSyscoin EcosystemSyscoinBSC EcosystemPopular CryptocurrencyCrpto EcosystemPublic Companies that own BitcoinTop Banks investing in CryptoBitcoin Inflation vs. TimeWhen you’re Ready…Choose WiselyMake bitcoin thrive, let fiat become humus…Veritas non Auctoritas Facit Legem
Most people misunderstand what bitcoin miners actually do, and as a result they don’t fully grasp the level of security provided by bitcoin’s hashrate.
In this article, we’ll explain proof of work in a non-technical way so that you’ll be able to counter the misinformation about supercomputers and quantum computers attacking the Bitcoin network in the future.
Simply put, mining is a lottery to create new blocks in the Bitcoin blockchain. There are two main purposes for mining:
To permanently add transactions to the blockchain without the permission of any entity.
To fairly distribute the 21 million bitcoin supply by rewarding new coins to miners who spend real world resources (i.e. electricity) to secure the network.
To understand what is actually happening in this lottery system, let’s look at a simple analogy where every Bitcoin hash is equivalent to a dice roll.
Luck, Gambling, and SHA-256
Imagine that miners in the Bitcoin Network are all individuals gambling at a casino. In this example, each of these gamblers have a 1000 sided dice. They roll their die as quickly as possible, trying to get a number less than 10. Statistically, this may take a very long time, but as more gamblers join the game, the time it takes to hit a number less than 10 gets reduced. In short, more gamblers equals quicker rounds.
Once somebody successfully rolls a number less than 10, all gamblers at the table can look down and verify the number. This lucky gambler takes the prize money and the next round begins.
Ultimately, the process of mining bitcoin is very similar. All miners on the network are using Application Specific Integrated Circuits (ASICs), which are specialized computers designed to compute hashes as quickly as possible.
To “compute a hash” simply means plugging any random input into a mathematical function and producing an output.
More hashes per second (i.e. higher hashrate) is equivalent to more dice rolls per second, and thus a greater probability of success.
Miners propose a potential Bitcoin block of transactions, and use this for an input. The block is plugged into the SHA256 hash function which yields a fixed-sized output, known as a hash. A single hash can be computed in less than a millisecond, as it involves no complex math.
If the hash value is lower than the Bitcoin Network difficulty, then the miner who proposed the block wins. If not, then the miner continues trying by computing more hashes.
The successful miner’s block is then added to the blockchain, the miner is rewarded with newly issued bitcoin for their work, and the “next round” begins.
Sources :
https://wikipedia.com/
https://braiins.com/
https://blockdata.com/
https://coin98analytics.com/
https://scoopwhoop.com/
https://stakingrewards.com/
https://syscoin.org/
https://galaxydigitalresearch.com/
https://surveycrest.com/
The Times
The Economist
"Internet of Money" - Andreas Antonopoulus
Hal Finney Quotes
Timothy C. May Quote
Free Spirit Digital Art
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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 ORGANISATIONP F I Z E R InsiderPoem of the LegacyBeing Curious…Of course it doesn’t comply…The Problem with centralized Social-Media10 Principles of Strategic LeadershipGlobal Reserve CurrencyPsychology of a Market CycleSuccessSuccessTriangle of SuccessDon’t plan for travelling when old…😋😳😋Be like a Tree…If anyone understands this please enlighten me too 😊🤭🤗http://www.revelationtimelinedecoded.comESGFor those that think WE are the Center of the Universe 🤣😅😂Confident vs. Insecure PeopleDay by day…Managing Complex ChangeThe Cone of LearningThe Hero’s JourneyElectromagnetic Field of the HeartI-ChingLanguage creates RealitySex Organs of the Machine WorldPhilosopher’s StoneIsaac NewtonAbracadabraSingularityMulti-Mind Thought Control Process APPLE INC.RetrocausalityCERNEGOSYSCOIN ECOSYSTEMJagSteinSysCoinBitcoin might bury FIAT 🙂 🤭 🙃DEFI Ecosystem on EthereumDeFi StackBitcoin Mining Ecosystem Map…the other 6 BillionbitcoinThis is about the other 6 Billion…Top NFT ProjectsBusiness CyclesCentral’s Bank’s 3 StrategiesGlobal DebtDefender of the FlowerFlower of LifeSacred GeometrySeed & Flower of LifeKnowledge – An Antidote to FearJOIN THE REVOLUTION 😋 🤣 😋Emotion – Judgement – Action…violent recolution inevitable.E S B IEvery generation…LOVE YOUR RAGE NOT YOUR CAGERevolutionThe Times – January 3, 2009REVOLUTIONBitcoin Genesis Block – 03 January 2009Introduction to BitcoinIntroduction to Decentralized FinanceIntroduction to Digital CurrenciesAll Metals We MinedMap to Multiplication Nikola TeslaTop VC’s Investing in BlockChain CompaniesAthmospheres of the Solar SystemGlobal GDP 2021Map of CyberSecurity Domains21 QuestionsSix Innovation ModelsWhat May Happen in the next 100 YearsAbstract – “…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 SystemBlockchain Platforms Comparison (BCP)ARISE
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 … Continue reading Running bitcoin – Hal Finney→
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On January 3rd, 2009 Satoshi Nakamoto published the Genesis Block with the first 50 Bitcoins on Sourceforge. He also left a message on the blockchain at the time, quoting the headline in the British newspaper Times:
On January 3, 2009, the minister was on the verge of bailing out the banks.
Nakamoto started writing the white paper in 2008 and published it in October of that year.
The concept of a decentralized, anonymous, trusted currency emerged after the 2008 financial crisis, which left responsibility for the banks.
Satoshi neither supports the modern banking system nor does he like partial reserve banks.
A partial reserve bank is a bank that takes deposits and issues loans or investments, but only has to reserve a fraction of its liabilities for deposits. Basically, the bank is using money that it doesn’t own.
Satoshi wants to get rid of banks and seedy middlemen whom he believes are corrupt and unreliable. As such, he created a more community-centric digital currency.
13 years later, Bitcoin is still going strong with a market cap of nearly $ 900 billion. It is currently held by billionaires, banks, celebrities, governments, and corporations. This is evidence of how far BTC has come in its brief existence.
The precarious banking situation and economic uncertainty are also in crisis again.
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 … Continue reading Running bitcoin – Hal Finney→
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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 … Continue reading Happy Genesis Block Day→
So – You want to be a Computer Dude? The word / expression “Dude” is not a reference to being male, female, or whatever, it is a designation of “Skill Level.” When we … Continue reading Computer Dude Inc.→