Bitcoin surges after accidentally released Treasury statement


Bitcoin surges after accidentally released Treasury statement



Prices of Bitcoin and other cryptocurrencies have soared following the apparent accidental release of a U.S. Treasury statement on Biden’s expected executive order on digital assets.

The premature statement by Treasury Secretary Yellen, which was dated March 9, has since been removed.

“President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy.  This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses. 

It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.”

Quote from the now deleted statement

At the time of writing, Bitcoin is up nearly 8% in the last 24 hours.

Biden’s executive order aims to regulate the crypto market while also reaping the benefits of digital currencies.

So far, like most countries in the world, the US has tended to react to developments and has limited itself to pointing to a political-economic approach that is yet to be developed.


Statement by Secretary of the Treasury Janet L. Yellen on President Biden’s Executive Order on Digital Assets


March 9, 2022

WASHINGTON –  U.S. Secretary of the Treasury Janet L. Yellen released the following statement on President Biden’s executive order on digital assets. 

“President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy.  This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.  It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy.

Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems. We’ll also convene the Financial Stability Oversight Council to evaluate the potential financial stability risks of digital assets and assess whether appropriate safeguards are in place. And, because the questions raised by digital assets often have important cross-border dimensions, we’ll work with our international partners to promote robust standards and a level playing field.

This work will complement ongoing efforts by Treasury. Already, the Department has worked with the President’s Working Group on Financial Markets, the FDIC, and OCC to study one particular kind of digital asset – stablecoins– and to make recommendations. Under the executive order, Treasury and interagency partners will build upon the recently published National Risk Assessments, which identify key illicit financing risks associated with digital assets. 

As we take on this important work, we’ll be guided by consumer and investor protection groups, market participants, and other leading experts.  Treasury will work to promote a fairer, more inclusive, and more efficient financial system, while building on our ongoing work to counter illicit finance, and prevent risks to financial stability and national security.”


Sources:

https://forbes.com/

https://disclose.tv/

https://bloomberg.com/

https://web.archive.org/web/20220309014601/https://home.treasury.gov/news/press-releases/jy0643




With 💚

Welcome…

To the rabbit hole…



Why this crazyness with rabbits ?!? And their holes, you would ask ?!? Why is the rabbit hole so deep ?¿

And what does the rabbit hole has to do with that BitCorn thing  I keep hearing about all over the place ?¿

I like to start from the begining, as I think so I am 😋😂


Rabbit Hole is a play written by David Lindsay-Abaire. It was the recipient of the 2007 Pulitzer Prize for Drama. The play premiered on Broadway in 2006, and it has also been produced by regional theatres in cities such as Los Angeles, Philadelphia and Pittsburgh. The play had its Spanish language premiere in San Juan, Puerto Rico in Autumn of 2010.

The play deals with the ways family members survive a major loss, and includes comedy as well as tragedy. Cynthia Nixon won the 2006 Tony Award for Best Performance by a Leading Actress in a Play for her performance as Becca in the New York production, and the play was nominated for several other Tony awards.


Rabbit Hole


A situation, journey, or process that is particularly strange, problematic, difficult, complex, or chaotic, especially one that becomes increasingly so as it develops or unfolds.

An allusion to “Alice’s Adventures in Wonderland” by Lewis Carroll, it is used especially in the phrase “(go) down the rabbit hole.”

Overhauling the current tax legislation is a rabbit hole I don’t think this administration should go down at this point.I’ve stayed away from drugs and alcohol since coming to college. I have an addictive personality, so I decided to just avoid that rabbit hole altogether.


What does rabbit hole mean?

Used especially in the phrase going down the rabbit hole or falling down the rabbit hole, a rabbit hole is a metaphor for something that transports someone into a wonderfully (or troublingly) surreal state or situation.

On the internet, a rabbit hole frequently refers to an extremely engrossing and time-consuming topic.


Where does rabbit hole come from?


Alice falling down a hole with a jar in hand
Alice’s Adventures in WonderLand

Literally, a rabbit hole is what the animal digs for its home. The earliest written record of the phrase dates back to the 17th century. But the figurative rabbit hole begins with Lewis Carroll’s 1865 classic, Alice’s Adventures in Wonderland.

In its opening chapter, “Down the Rabbit-Hole,” Alice follows the White Rabbit into his burrow, which transports her to the strange, surreal, and nonsensical world of Wonderland.

Since then, Carroll’s rabbit hole has proved a popular and useful reference. The Oxford English Dictionary finds the first allusive rabbit hole in a 1938 edition of The Yale Law Journal: “It is the Rabbit-Hole down which we fell into the Law, and to him who has gone down it, no queer performance is strange.”

Over much of the 20th century, rabbit hole has been used to characterize bizarre and irrational experiences. It’s especially used to reference magical, challenging, and even dangerous places or positions, similar to Carroll’s topsy-turvy Wonderland.

Rabbit hole has many metaphorical applications—from frustrating red tape to the mind-bending complexity of science to hallucinations during altered states—all united by a common sense of passing into some labyrinthine, logic-defying realm that, once entered, is hard to get out of.

One can fall down the rabbit hole of government bureaucracy, healthcare, obtaining a green card, tax law, the political economy of modern Japan, puberty, college admissions, or quantum mechanics.

If you’re Neo in the hit film The Matrix, you can take the red pill—a pill that shows you the truth, as opposed to the blue pill, which keeps you in ignorance—and “see how deep the rabbit hole goes.”

In a related note, some people literally take pills and go down the rabbit hole of a psychedelic drug trip.

But as Kathryn Schulz observed for The New Yorker in 2015, rabbit hole has further evolved in the information age: “These days…when we say that we fell down the rabbit hole, we seldom mean that we wound up somewhere psychedelically strange. We mean that we got interested in something to the point of distraction—usually by accident, and usually to a degree that the subject in question might not seem to merit.”

Thanks to the abundance, variety, and instant access of content online, many fall down internet rabbit holes which are often spectacularly, and addictively, niche: scary stories, obscure conspiracy theories, or famous last meals, for instance.

Other rabbit holes tend to be opened up by specific services or social media, which serve users item after item, link after link: Wikipedia, Netflix, Amazon, Facebook, YouTube, and so forth.

These rabbit holes have become so common that people sometimes swap out rabbit for the name of the particular site, e.g. “I’ve fallen down an Instragram hole or “I’m falling down a wikihole.”


Who uses rabbit hole?


From formal documents to internet status updates, rabbit hole is a very popular and widespread expression. Unlike earlier iterations of the metaphor, internet rabbit holes convey less a sense of weirdness, disorientation, or difficulty than they do of an intensely captivating diversion.

Rabbit hole is also showing increasing use as a modifier, e.g. a rabbit-hole question or phenomenon.


Now… that we have a basic and broader understanding about this Hole and it’s rabbit that digged it 😋😂

Let me show you a journey that I took to get to know, understand, admire, be amazed and support the BitCorn everybody is so crazy about …


Bitcoin Glossary


Block

Blocks are found in the Bitcoin blockchain. Blocks connect all transactions together. Transactions are combined into single blocks and are verified every ten minutes through mining. Each subsequent block strengthens the verification of the previous blocks, making it impossible to double spend bitcoin transactions (see double spend below).

BIP

Bitcoin Improvement Proposal or BIP, is a technical design document providing information to the bitcoin community, or describing a new feature for bitcoin or its processes or environment which affect the Bitcoin protocol. New features, suggestions, and design changes to the protocol should be submitted as a BIP. The BIP author is responsible for building consensus within the community and documenting dissenting opinions.

Blockchain

The Bitcoin blockchain is a public record of all Bitcoin transactions. You might also hear the term used as a “public ledger.” The blockchain shows every single record of bitcoin transactions in order, dating back to the very first one. The entire blockchain can be downloaded and openly reviewed by anyone, or you can use a block explorer to review the blockchain online.

Block Height

The block height is just the number of blocks connected together in the block chain. Height 0 for example refers to the very first block, called the “genesis block.”

Block Reward

When a block is successfully mined on the bitcoin network, there is a block reward that helps incentivize miners to secure the network. The block reward is part of a “coinbase” transaction which may also include transaction fees. The block rewards halves roughly every four years; see also “halving.”

Change

Let’s say you are spending $1.90 in your local supermarket, and you give the cashier $2.00. You will get back .10 cents in change. The same logic applies to bitcoin transactions. Bitcoin transactions are made up of inputs and outputs. When you send bitcoins, you can only send them in a whole “output.” The change is then sent back to the sender.

Cold Storage

The term cold storage is a general term for different ways of securing your bitcoins offline (disconnected from the internet). This would be the opposite of a hot wallet or hosted wallet, which is connected to the web for day-to-day transactions. The purpose of using cold storage is to minimize the chances of your bitcoins being stolen from a malicious hacker and is commonly used for larger sums of bitcoins.

Confirmation

A confirmation means that the bitcoin transaction has been verified by the network, through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks.

Cryptography

Cryptography is used in multiple places to provide security for the Bitcoin network. Cryptography, which is essentially mathematical and computer science algorithms used to encrypt and decrypt information, is used in bitcoin addresses, hash functions, and the blockchain.

Decentralized

Having a decentralized bitcoin network is a critical aspect. The network is “decentralized,” meaning that it’s void of a centralized company or entity that governs the network. Bitcoin is a peer-to-peer protocol, where all users within the network work and communicate directly with each other, instead of having their funds handled by a middleman, such as a bank or credit card company.

Difficulty

Difficulty is directly related to Bitcoin mining (see mining below), and how hard it is to verify blocks in the Bitcoin network. Bitcoin adjusts the mining difficulty of verifying blocks every 2016 blocks. Difficulty is automatically adjusted to keep block verification times at ten minutes.

Double Spend

If someone tries to send a bitcoin transaction to two different recipients at the same time, this is double spending. Once a bitcoin transaction is confirmed, it makes it nearly impossible to double spend it. The more confirmations that a transaction has, the harder it is to double spend the bitcoins.

Full Node

A full node is when you download the entire blockchain using a bitcoin client, and you relay, validate, and secure the data within the blockchain. The data is bitcoin transactions and blocks, which is validated across the entire network of users.

Halving

Bitcoins have a finite supply, which makes them scarce. The total amount that will ever be issued is 21 million. The number of bitcoins generated per block is decreased 50% every four years. This is called “halving.” The final halving will take place in the year 2140.

Hash Rate

The hash rate is how the Bitcoin mining network processing power is measured. In order for miners to confirm transactions and secure the blockchain, the hardware they use must perform intensive computational operations which is output in hashes per second.

Hash (txid)

A transaction hash (sometimes referred to as a transaction ID or txid) is a unique identifier that can be used on any block explorer to look up all of the public details of a particular transaction. Every on-chain transaction has a unique hash made up of a long string of alphanumeric characters.

Mining

Bitcoin mining is the process of using computer hardware to do mathematical calculations for the Bitcoin network in order to confirm transactions. Miners collect transaction fees for the transactions they confirm and are awarded bitcoins for each block they verify.

Pool

As part of bitcoin mining, mining “pools” are a network of miners that work together to mine a block, then split the block reward among the pool miners. Mining pools are a good way for miners to combine their resources to increase the probability of mining a block, and also contribute to the overall health and decentralization of the bitcoin network.

Private Key

A private key is a string of data that shows you have access to bitcoins in a specific wallet. Think of a private key like a password; private keys must never be revealed to anyone but you, as they allow you to spend the bitcoins from your bitcoin wallet through a cryptographic signature.

Proof of Work

Proof of work refers to the hash of a block header (blocks of bitcoin transactions). A block is considered valid only if its hash is lower than the current target. Each block refers to a previous block adding to previous proofs of work, which forms a chain of blocks, known as a blockchain. Once a chain is formed, it confirms all previous Bitcoin transactions and secures the network.

Public Address

A public bitcoin address is cryptographic hash of a public key. A public address typically starts with the number “1.” Think of a public address like an email address. It can be published anywhere and bitcoins can be sent to it, just like an email can be sent to an email address.

RBF

RBF stands for Replace By Fee, and refers to a method that allows a sender to replace a “stuck” or unconfirmed transaction with a new one that uses a higher fee. This is done to make sure a transaction confirms as quickly as possible. The “replacement” transaction uses the same inputs as the original one. This is not considered a double spend, as the receiving address(es) typically remain the same.

Satoshi Nakamoto

Bitcoin’s existence began with an academic paper written in 2008 by a developer under the name of Satoshi Nakamoto. Satoshi is the name used as the original inventor of Bitcoin.

Transaction

A transaction is when data is sent to and from one bitcoin address to another. Just like financial transactions where you send money from one person to another, in bitcoin you do the same thing by sending data (bitcoins) to each other. Bitcoins have value because it’s based on the properties of mathematics, rather than relying on physical properties (like gold and silver) or trust in central authorities, like fiat currencies. 

Wallet

Just like with paper dollars you hold in your physical wallet, a bitcoin wallet is a digital wallet where you can store, send, and receive bitcoins securely. There are many varieties of wallets available, whether you’re looking for a web or mobile solution. Ideally, a bitcoin wallet will give you access to your public and private keys. This means that only you have rightful access to spend these bitcoins, whenever you choose to.


Sources:

https://dictionary.com/

https://wikipedia.com/

https://blockchain.com/

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P.O.W In Human History


Proof Of Work

in the

History of Humankind


Great Pyramid of Giza (a.k.a)
Pyramid of Khu
Egypt

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.

It is the oldest of the Seven Wonders of the Ancient World, and the only one to remain largely intact.

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.


The Ming dynasty
Great Wall
at Jinshanling

The Great Wall of China (traditional Chinese: 萬里長城; simplified Chinese: 万里长城; pinyinWànlǐ Chángchéng) is a series of fortifications that were built across the historical northern borders of ancient Chinese states and Imperial China as protection against various nomadic groups from the Eurasian Steppe.

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 CypherPunks

CypherPunks Write Code

Genesis

Bitcoin Genesis Block
Mined 03 January 2009

The Times
January 3, 2009

Bitcoin – 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 Yours

Choose Wisely
The Choice is Yours




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Totalitarian Governments..

Totalitarianism is a form of government and political system that prohibits all opposition parties, outlaws individual opposition to the state and its claims, and exercises an extremely high degree of control and regulation over public and private life.

It is regarded as the most extreme and complete form of authoritarianism.

In totalitarian states, political power is often held by autocrats, such as  dictators  and absolute monarchs, who employ all-encompassing campaigns in which propaganda is broadcast by state-controlled mass media in order to control the citizenry.

It remains a useful word but the old 1950s theory was considered to be outdated by the 1980s,and is defunct among scholars.

The proposed concept gained prominent influence in Western anti-communist and McCarthyist political discourse during the Cold War era as a tool to convert pre-World War IIanti-fascism into post-war anti-communism.


Leaders who have been described as totalitarian rulers, from left to right and top to bottom in picture, include Joseph Stalin, former General Secretary of the Communist Party of the Soviet UnionAdolf Hitler, former Führer of Nazi GermanyAugusto Pinochet, former President of ChileMao Zedong, former Chairman of the Communist Party of ChinaBenito Mussolini, former Duce of Fascist Italy; and Kim Il-sung, the Eternal President of the Republic of North Korea

As a political ideology in itself, totalitarianism is a distinctly modernist  phenomenon, and it has very complex historical roots. Philosopher Karl Popper traced its roots to PlatoGeorg Wilhelm Friedrich Hegel‘s conception of the state, and the political philosophy of Karl Marx, although Popper’s conception of totalitarianism has been criticized in academia, and remains highly controversial.

Other philosophers and historians such as Theodor W. Adorno and Max Horkheimer trace the origin of totalitarian doctrines to the Age of Enlightenment, especially to the anthropocentrist idea that:

“Man has become the master of the world, a master unbound by any links to nature, society, and history.”

In the 20th century, the idea of absolute state power was first developed by Italian Fascists, and concurrently in Germany by a jurist and Nazi academic named Carl Schmitt during the Weimar Republic in the 1920s.

Benito Mussolini, the founder of Italian Fascism, defined fascism as such: “Everything within the state, nothing outside the state, nothing against the state.”

Schmitt used the term Totalstaat (lit. ’Total state’) in his influential 1927 work titled The Concept of the Political, which described the legal basis of an all-powerful state.

Totalitarian regimes are different from other authoritarian regimes, as the latter denotes a state in which the single power holder, usually an individual dictator, a committee, a military junta, or an otherwise small group of political elites, monopolizes political power.

A totalitarian regime may attempt to control virtually all aspects of social life, including the economy, the education system, arts, science, and the private lives and morals of citizens through the use of an elaborate ideology. It can also mobilize the whole population in pursuit of its goals.

Definition

Totalitarian regimes are often characterized by extreme political repression, to a greater extent than those of authoritarian regimes, under an undemocratic government, widespread personality cultism around the person or the group which is in power, absolute control over the economy, large-scale censorship and mass surveillance systems, limited or non-existent freedom of movement (the freedom to leave the country), and the widespread usage of state terrorism.

Other aspects of a totalitarian regime include the extensive use of internment camps, an omnipresent secret police, practices of religious persecution or racism, the imposition of theocratic rule or state atheism, the common use of death penalties and show trials, fraudulent elections (if they took place), the possible possession of weapons of mass destruction, a potential for state-sponsored mass murders and genocides, and the possibility of engaging in a war, or colonialism against other countries, which is often followed by annexation of their territories.

Historian Robert Conquest describes a totalitarian state as a state which recognizes no limit on its authority in any sphere of public or private life and extends that authority to whatever length it considers feasible.

Totalitarianism is contrasted with authoritarianism. According to Radu Cinpoes, an authoritarian state is “only concerned with political power, and as long as it is not contested it gives society a certain degree of liberty.”

Cinpoes writes that authoritarianism “does not attempt to change the world and human nature.”

In contrast, Richard Pipes stated that the officially proclaimed ideology “penetrating into the deepest reaches of societal structure, and the totalitarian government seeks to completely control the thoughts and actions of its citizens.”

Carl Joachim Friedrich wrote that “[a] totalist ideology, a party reinforced by a secret police, and monopolistic control of industrial mass society are the three features of totalitarian regimes that distinguish them from other autocracies.”



Visualization of the AES round function

Advanced Encryption Standard

The Advanced Encryption Standard (AES), also known by its original name Rijndael (Dutch pronunciation: [ˈrɛindaːl]), is a specification for the encryption of electronic data established by the U.S. National Institute of Standards and Technology (NIST) in 2001.

AES is a variant of the Rijndael block cipher developed by two  Belgian  cryptographers, Vincent Rijmen and Joan Daemen, who submitted a proposalto NIST during the AES selection process.

Rijndael is a family of ciphers with different key and block sizes. For AES, NIST selected three members of the Rijndael family, each with a block size of 128 bits, but three different key lengths: 128, 192 and 256 bits.

AES has been adopted by the U.S. government. It supersedes the Data Encryption Standard (DES), which was published in 1977.

The algorithm described by AES is a symmetric-key algorithm, meaning the same key is used for both encrypting and decrypting the data.

In the United States, AES was announced by the NIST as U.S. FIPS PUB 197 (FIPS 197) on November 26, 2001.

This announcement followed a five-year standardization process in which fifteen competing designs were presented and evaluated, before the Rijndael cipher was selected as the most suitable.

AES is included in the ISO/IEC 18033-3  standard. AES became effective as a U.S. federal government standard on May 26, 2002, after approval by the U.S. Secretary of Commerce.

AES is available in many different encryption packages, and is the first (and only) publicly accessible cipher approved by the U.S. National Security Agency (NSA) for top secret information when used in an NSA approved cryptographic module.



Andreas M. Antonopoulos (born 1972 in London) is a British-Greek Bitcoin advocate, tech entrepreneur, and author.

He is a host on the Speaking of Bitcoin podcast (formerly called Let’s Talk Bitcoin!) and a teaching fellow for the M.Sc. Digital Currencies at the University of Nicosia.

Antonopoulos was born in 1972 in London, UK, and moved to Athens, Greece during the Greek Junta.

He spent his childhood there, and at the age of 17 returned to the UK.

Antonopoulos obtained his degrees in Computer science and Data Communications, Networks and Distributed Systems from University College London.

Books


All Credit goes to Andreas M. Antonopoulos


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Bitcoin – Power to the People by BitHouse-Co

Redbubble Shop BitHouse

For the first time in human history there is at the disposal of the masses a tool that eliminates the middlemen and takes trust from the hands of humans and beautifully makes it a mathematics code that cannot be breaken, hacked or tricked…

https://www.redbubble.com/shop/ap/99847715?asc=u

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What bitcoin is … NOT

Bitcoin is not Abracadabra…
but Bitcoin can be Avada Kedavra for the current Banking system!

Bitcoin is not Magic…
but it can be for Muggles!

Bitcoin is not an “Investment” …
but educating yourself about bitcoin can be!

Bitcoin is not an “Investment”…
but knowing  the basics and being educated about it, lowers the chances of loosing your hard earned money!

Bitcoin is not an “Investment”…
but staking Sats proved to be a preety good Strategy in the Long Term!

Bitcoin is not digital money…
but it’s ons of it’s first applications!

Bitcoin is not money…
but is Money for the Internet!

Bitcoin is not PRICE !!!

Bitcoin is not PRICE…
but the market is driven mostly by FUD & FOMO people

Fear
Uncertainty
Doubt

bring the market Down


Fear
Of
Missing
Out

bring the market Up

Bitcoin is not a “Get Rich Quick Scheme” and the one’s that got rich were the one’s that were there from the begining…

Bitcoin is not voodoo people, magic people…
but a bunch of smart geeks & nerds that support the bitcoin’s philosophy and what it stands for…

Bitcoin is not under no juridstiction…
but it is a global p2p network of like-minded people that with the power of their equipment sustain, mantain and make the bitcoin network stronger and more decentralized!

Bitcoin is not a Coin…
but an entry in a digital ledger!

Bitcoin is not illegal activity money…
but bitcoin can be used in such activity…
Reports show that FIAT is still the No. #1 choice for “Evil Doers” as it doens’t have an public, open and visible ledger …
Duh…

Bitcoin is not evil…
but bitcoin can be used to do evil!
As does a Pen!
It can be used to do evil!
How, you would ask?
If  I take this ✏ and stick it up your a… who is Evil ?!?
The One who invented the pen?
The Pen?
Me?
Your a.. cause it was in the way 🤣
Perspective is a matter of opinion…

Bitcoin is not News…
but instead read pools, github, exchanges, wallets…
They are the ones that pave the way where bitcoin could, should or would go!

Bitcoin is not DEAD…
It was already declared Dead 441 times!

see :

https://99bitcoins.com/bitcoin-obituaries/

Bitcoin is not …
Yapidi Yapidi Yap people…

If someone says :

1 – Bitcoin consumes too much electricity, they don’t understand POW!

2 – Bitcoin isn’t a government backed currency, you should ask who backs their government…
If the answer is the Army…

3 – Bitcoin isn’t backed by gold like the the US$…
Neither is the $ since ’71

4 – Bitcoin isn’t real because I can’t see it…
80% of world’s money is Digital…

5 – Bitcoin isn’t a store of value as good as Gold is…
Gold had thousands of years to prove that, bitcoin only 13… give it time!
It already proved a lot !!!

6 – Bitcoin’s inventor is annonymous and can’t be trusted…
Who invented money then? How do money come up into existance?

7 – Bitcoin will never be largely accepted because it isn’t issued by a government…
You know what else wasn’t issued by no government ? Cars, Electricity, Steam Engine, Facebook, Uber, Google, Amazon, etc bla bla bla

8 – Bitcoin can’t be a currency cause I can’t buy anything with it…
I think I have shared a list with places that you can buy things with bitcoin…Quite a few!!!

9 – Whales… Beware of yapidi yap of whales cause they say one and do the opposite 🙂 😉 !!!

9 – Bitcoin is not this, bitcoin is not that but they all swarm around the bee’s honeypot as if it were honey 🤣🤣🤣

I forgot…In the meantime, little unsignificant countries like El Salvador, mine bitcoin with 🌋 !!!

And still newspapers, investors that bite their whatever not having invested when it was under $1, and a hole portion of the world are all saying…

Etc bla bla bla Yapidi Yapidi Yap


Never Forget The Golden Rules:

Not Your Keys, Not Your Crypto!!!

Don’t Trust, Verify!!!

Don’t Believe, Do your own Resesearch and due diligence!!!

Save your Wallet’s Mnemonic Phrase in at least 3 places for safe-keeping!!!


WE ARE SATOSHI


When you’re ready…

Timothy C. May

Hal Finney

Poem of the Legacy

From the ashes of the long forgotten past,
A bright mind wrote a code that would for ever last…
A code so powerful and strong,
That would change the world for oh so long…

The code he wrote and set it free,
For the humankind legacy to be…
To change the lives of future generations to come,
He wrote the code and he was gone…

Oh, bright mind your legacy will last,
For generations to come and be thankful about the past…
Nobody knows who you might be,
Some do and say Kudos to You for Ethernity!


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Mining Pool Payouts

Mining Pool Payouts explained: PPS vs. FPPS vs. PPLNS vs. PPS+

What is a Mining Pool?

Mining Pools

A Mining pools is a hub where a group of Crypto currency miners share their processing power to the network in order to solve the blocks quicker.

The rewards will be split equally based on the amount of shares that they contributed in finding a block.

Pool mining was introduced during early Bitcoin mining days when solo mining became non-viable.

The more powerful your hardware is, the more shares you’ll submit, the more shares you submit, the more you’ll earn.

In order for the pool to pay its miners each pool uses its own payment scheme. Two of the most popular option is PPS and PPLNS.


Mining Pool payouts explained PPS vs. FPPS vs. PPLNS vs. PPS+
Mining pool payouts explained: Pay-per-share (PPS)
Pay-Per-Share (PPS)
Pay-per-last-n-shares (PPLNS) MineBest
Pay-Per-Last-N-Shares (PPLNS)
Different mining pool payouts explained: PPS vs. FPPS vs. PPLNS vs. PPS+

The first thing a miner has to decide is which pool mining payout is best for their requirements.

PROP (proportional), FPPS (Full Pay Per Share), SMPPS (Shared Maximum Pay Per Share), ESMPPS (Equalized Shared Maximum Pay Per Share), CPPSRB (Capped Pay Per Share with Recent Backpay), PPS (Pay Per Share), PPLNS (Pay Per Last N Share) and lastly PPS+ (Pay Per Share Plus).

Among them PPS and PPLNS are the two types of payment models that are mostly used by mining pools currently. Before we explain both PPS and PPLNS we’ll make a short note on mining pool.

There are numerous payment systems (over 15), but the vast majority of the pools operate on a PPS, FPPS, PPS+ and PPLNS basis.

However, before trying to understand the different settlement models, it is important to come to a consensus on some terms used in crypto mining.

Block Reward: Block reward refers to the new coins issued by the network to miners for each successfully solved block.

Hashing PowerHash rate is the speed at which a computer completes an operation in the cryptocurrency’s code. A higher hashrate increases a miner’s opportunity of finding the next block.

Luck: Luck, in mining, is the probability of success. Imagine that each miner is given a lottery ticket for a certain amount of hashing power they provide. If they are to provide 1 TH/s hashing power when the overall hashing power in the network is 10 TH/s, then they would receive 1 of 10 total lottery tickets. The probability of winning the lottery (in this case finding the block reward) would be 10%.

Transaction Fees: Some networks (like Bitcoin) also have substantial amounts of transaction fees rewarded to miners. These fees are the total fees paid by users of the network to execute transactions.

Pay-Per-Share (PPS)

PPS offers an instant flat payout for each share that is solved. With this payment method, a miner gets a standard payout rate for each share completed. Each share is worth a certain amount of mineable cryptocurrency.

After deducting the mining pool fees, the miners are given a fixed income every day. Therefore, under the PPS mode, the returns are relatively stable. Miners are exposed to risk here. They may not get the transaction fees.

It is ideal for low priced orders for an extended period. This model becomes lucrative during a bearish run of a particular coin.

Pay-Per-Last-N-Shares (PPLNS)

With this payout, profits will be allocated based on the number of shares miners contribute. This kind of allocation method is closely related to the block mined out. If the mining pool excavates multiple blocks in a day, the miners will have a high profit; if the mining pool is not able to mine a block during the whole day, the miner’s profit during the whole day is zero.

Notably, in the short term, the PPLNS model is highly correlated with a pool’s luck. If the luck factor of a particular mining pool decreases in the short term, the miner’s income will also decrease accordingly (the opposite case of the mining pool being lucky in the short term is possible too). However, in the long term, the luck factor tends to average out to the mean.

Hence, this model is ideal for fixing orders on a big pool that has a high chance of finding a block within the order time limit. Or a standard order which will have miners connected for a longer time.

Pay Per Share + (PPS+)

PPS+ is a blend of two modes mentioned above, PPS and PPLNS. The block reward is settled according to the PPS model. And the mining service charge /transaction fee is settled according to the PPLNS mode.

That is to say, in this mode, the miner can additionally obtain the income of part of the transaction fee based on the PPLNS payment method. This was a major drawback in the PPS model.

Full Pay Per Share (FPPS)

With this pool payout, both the block reward and the mining service charge are settled according to the theoretical profit. Calculate a standard transaction fee within a certain period and distribute it to miners according to their hash power contributions in the pool. It increases the miners’ earnings by sharing some of the transaction fees.

With the PPS and FPPS payment methods, you will get paid no matter if the pool finds a block or not. This is the most significant advantage over PPLNS. The risks and rewards are higher with the PPLNS plan.

The decision on which mining plan to choose from needs to be preceded by the decision of choosing the right mining infrastructure.


Difference between PPS vs PPLNS payment models?

PPLNS

PPLNS stands for Pay Per Last (luck) N Shares. This method calculates your payments based on the number of shares you submitted during a shift.

It includes shift system which is time based or by number of shares submitted by the miners on the pool.

Your pool may find blocks consistently or in overtime it may have huge variations in winning a block and that ultimately affects your payments. PPLNS greatly involves luck factor and you’ll notice huge fluctuations in your 24 hour payout.

If you maintain your mining on a single pool then your payouts will remain consistent and it only differs when new miners join or leave the pool.

PPS

Pay Per Share pays you an average of the number of shares that you contributed to the pool in finding blocks.

PPS pays you on solid rate and is more of a direct method which completely eliminates luck factor.

In PPS method regardless of the pools lucky at winning blocks you’re going to get 100% payout at the end of the day. This is because there is a standard payout set for each miners based on their hash power.

It won’t be more than 100% or less than that and with this PPS method you can easily calculate your potential earnings.

On the other hand with PPLNS payment system on average you can either get more than 100% or less than that. It is based on how lucky the pool is at finding blocks.

Should I choose PPS or PPLNS?

This is one of the common questions most miners have initially.

Should I choose Pay Per Share or Pay Per Last N Share pools?

If you are the person who don’t switch pools often then PPLNS is definitely for you as such pools are good at rewarding its loyal miners.

Pay Per Share: No matter what, if you need a fixed payouts at the end of the day to liquidate or for whatsoever reason then your choice would be PPS.

Pay Per Share works well for large mining farms who can calculate and have statistics based on their mining power.

PPS is good for large miners but really bad for pool owners as there is a guaranteed payout for work no matter if the pool hits the block or not.

For this reason and because of pool hoppers (not loyal miners of the pool) most of the mining pools have switched to PPLNS payment model.

Pay Per Last N Shares: If you are the one that is looking to accumulate and hold more coins then PPLNS is recommended.

For each block that your pool finds you’ll get a share based on your hashrate.

Unlike PPS, in PPLNS you’ll get payouts more often and in the long run you’ll be rewarded more with PPLNS than PPS.

However due to huge variance it’s really hard to calculate your mining income.

PPLNS is good for both mid-range miners and pool owners as the payouts is only based on the blocks found.

If your pool is more lucky  then you’ll see payments more often. This is the reason why miners stick to a pool where there is more hash power assuming the pool finds block very often.

You can find more comparison of mining pools payment system here.

How to find out if a pool is PPS or PPLNS?

Cryptocurrency mining can be a lucrative process. However it’s very important that you find out what payment scheme your pool is using before committing your hashing power.

Most of the mining pools has this information listed on FAQ page or at payouts page. If you’re unable to find this information then the only option is to contact the pool support.

Hope the information on this page is helpful for you to decide the right mining pool.


Happy Hashing


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Happy 13th BirthDay bitcoin

bitcoin – People’s Money

Brief history of Bitcoin

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.

The price of Bitcoin on its birthday 🎂

13 years: $ 47,310
12 years: $ 33,400
11 years: $ 7,319
10 years: $ 3,783
9 years: $ 14,764
8 years: $ 1,084
7 years: $ 432
6 years: $ 275
5 years: $ 816
4 years: $ 13
3 years: $ 5
2 years: $ 0.29
1 year: $ 0.05


Happpy Birthday bitcoin !!!

Thanks for all the teachings and wealth of Knowledge I do now have thanks to you !!!


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Kudos to @ChessurKot

I 💚 it so much i had to share it !!!

Amazing poster and imagination !!!

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Calculate Hashes/s

How can I calculate how many hashes I generate per second?

I have a function which generates hashes from a string:

string GenerateHash(string plainText);

I generate as many hashes as possible with 4 threads.

How do I calculate how many hashes (or megahashes) I generate per second?

Your problem breaks down nicely into 3 separate tasks

  1. Sharing a single count variable across threads
  2. Benchmarking thread completion time
  3. Calculating hashes per/second

Sharing a single count variable across threads

public static class GlobalCounter
{ public static int Value { get;
private set;
} public static void Increment()
{ Value =GetNextValue(Value);
} private static int GetNextValue(int curValue) { returnInterlocked.Increment(ref curValue);
} public static void Reset() { Value = 0; } }

Before you spin off the threads call GlobalCounter.Reset and then in each thread (after each successful hash) you would call GlobalCounter.Increment – using Interlocked.X performs atomic operations of Value in a thread-safe manner, it’s also much faster than lock.

Benchmarking thread completion time

var sw = Stopwatch.StartNew(); Parallel.ForEach(someCollection, someValue => 
{ // generate hash GlobalCounter.Increment();
}); sw.Stop();

Parallel.ForEach will block until all threads have finished

Calculating hashes per second

... sw.Stop(); var hashesPerSecond = GlobalCounter.Value / sw.Elapsed.Seconds;

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If so, please consider a donation to help the evolution and development of more helpful articles in the future, and show your support for alternative articles.

Your generosity is 💚 ly appreciated

You can donate in any crypto your 💚 desires 😊

Thank you all for your time !!!

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Bitcoin (BTC) :
1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

LiteCoin(LTC) :
LYAdiSpsTJ36EWCJ5HF9EGy9iWGCwoLhed

Ethereum(ETH) :
0x602e8Ca3984943cef57850BBD58b5D0A6677D856

EthereumClassic(ETC) :
0x602e8Ca3984943cef57850BBD58b5D0A6677D856

Cardano(ADA)
addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d

BinanceCoin(BNB)
bnb1wwfnkzs34knsrv2g026t458l0mwp5a3tykeylx

BitcoinCash (BCH)
1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

BitcoinSV(BSV)
1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ

ZCash(ZEC)
t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF

Dash(DASH)
XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj

Shiba(SHIB)
0x602e8Ca3984943cef57850BBD58b5D0A6677D856

Tron(TRX)
TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8

Stellar(XLM)
GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54

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Satoshi Nakamoto Quotes

CODE IS LAW

“ It might make sense just to get some in case it catches on.

If enough people think the same way, that becomes a self fulfilling prophecy.

Once it gets bootstrapped, there are so many appli­ca­tions if you could effort­lessly pay a few cents to a website as easily as dropping coins in a vending machine. ”

Get some in case it catches on

“ In this sense, it’s more typical of a precious metal.

Instead of the supply changing to keep the value the same, the supply is prede­ter­mined and the value changes.

As the number of users grows, the value per coin increases.

It has the poten­tial for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advan­tage of the increasing value. ”

Potential for a positive feedback loop

“ Maybe it could get an initial value circu­larly as you’ve suggested, by people foreseeing its poten­tial useful­ness for exchange. (I would definitely want some)

Maybe collec­tors, any random reason could spark it.

I think the tradi­tional quali­fi­ca­tions for money were written with the assump­tion that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value.

But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something. (I’m using the word scarce here to only mean limited poten­tial supply) ”

“ A rational market price for something that is expected to increase in value will already reflect the present value of the expected future increases. “

Rational market price

In your head, you do a proba­bility estimate balancing the odds that it keeps increasing. ”

Probability

“ I’m sure that in 20 years there will either be very large trans­ac­tion volume or no volume. ”

In 20 Years

“ Bitcoins have no dividend or poten­tial future dividend, there­fore not like a stock.

More like a collectible or commodity.“

Collectible vs Commodity

” [Lengthy exposition of vulnerability of a systm to use-of-force monopolies ellided.]

You will not find a solution to political problems in cryptography.

Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own. “

Pure P2P networks

” It’s very attractive to the libertarian viewpoint if we can explain it properly.

I’m better with code than with words though. “

Libertarian Viewpoint

” The proof-of-work is a Hashcash style SHA-256 collision finding.

It’s a memoryless process where you do millions of hashes a second, with a small chance of finding one each time.

The 3 or 4 fastest nodes’ dominance would only be proportional to their share of the total CPU power.

Anyone’s chance of finding a solution at any time is proportional to their CPU power.

There will be transaction fees, so nodes will have an incentive to receive and include all the transactions they can.

Nodes will eventually be compensated by transaction fees alone when the total coins created hits the pre-determined ceiling. “

Transactions Fees

” Right, it’s ECC digital signatures.

A new key pair is used for eveey transaction.

It’s not pseudonymous in the sense of nyms identifying people, but it is at least a little pseudonymous in that the next action on a coin can be identified as being from the owner of that coin.”

Pseudonymous

Bitcoin is a new electronic cash system that uses a peer-to-peer
network to prevent double-spending.

It’s completely decentralized
with no server or central authority

New electronic cash system

Total circulation will be 21,000,000 coins.

It’ll be distributed to network nodes when they make blocks, with the amount cut in half every 4 years

first 4 years: 10,500,000 coins

next 4 years: 5,250,000 coins

next 4 years: 2,625,000 coins

next 4 years: 1,312,500 coins
etc…

When that runs out, the system can support transaction fees if needed.

It’s based on open market competition, and there will probably always be nodes willing to process transactions for free.

Open Market Competition

” I would be surprised if 10 years from now we’re not using electronic currency in some way, now that we know a way to do it that won’t inevitably get dumbed down when the trusted third party gets cold feet.

It could get started in a narrow niche like reward points, donation tokens, currency for a game or micropayments for adult sites.

Initially it can be used in proof-of-work applications for services that could almost be free but not quite.

POW applications

It can already be used for pay-to-send e-mail.

The send dialog is resizeable and you can enter as long of a message as you like.

It’s sent directly when it connects.

The recipient doubleclicks on the transaction to see the full message.

If someone famous is getting more e-mail than they can read, but would still like to have a way for fans to contact them, they could set up Bitcoin and give out the IP address on their website. “

Pay-to-Send Email

“Send X bitcoins to my priority hotline at this IP and I’ll read the message personally.”

Send bitcoin

You can securely control neither your land nor your digitally centralized financial assets without the help of government. Thus the locality & importance of legal ownership in these things. You can securely control your globally seamless Bitcoin without the help of government.

Nick Szabo

From the People For the People !!! Be your Own Bank !!! REVOLUTIONARY IMMUTABLE PUBLIC COLLABORATIVE OPEN RESISTANT DECENTRALIZED

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Did you find this article helpful?

If so, please consider a donation to help the evolution and development of more helpful articles in the future, and show your support for alternative articles.

Your generosity is 💚 ly appreciated

You can donate in any crypto your 💚 desires 😊

Thank you all for your time !!!

✌ & 💚


Bitcoin (BTC) :

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


LiteCoin(LTC) :

LYAdiSpsTJ36EWCJ5HF9EGy9iWGCwoLhed


Ethereum(ETH) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


EthereumClassic(ETC) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Cardano(ADA) :

addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d


BinanceCoin(BNB) :

bnb1wwfnkzs34knsrv2g026t458l0mwp5a3tykeylx


BitcoinCash (BCH)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


Bitcoin SV (BSV)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


ZCash(ZEC) :

t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF


Dash(DASH) :

XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj


Shiba(SHIB) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Tron(TRX) :

TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8


Stellar(XLM) :

GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54


Bitcoin and it’s History

Finance, like most human inventions, is constantly evolving.

In the beginning it was basic: food was traded for livestock, and livestock for resources like wood, or maize. It progressed to precious metal, such as silver and gold. And now, the next step in financial evolution has come to light.

This new form of currency has been constantly evolving over the past decade, developed by an unknown person and maintained by a collective group of the brightest minds in technology.

It’s a new form of money that is created and held digitally, and the most important part, of course, is that no government owns it, or decides its value – the peer-to-peer network community does.

We call this new money, ‘Bitcoin’.

Historically, U.S. currency has been based on gold – you could give a dollar to the bank and receive a set amount back in gold. In contrast, Bitcoin isn’t based on silver or gold – it’s based on mathematical proofs validated by a public ledger called blockchain technology.

Bitcoin is generated through a complex sequence of mathematical formulas that run on computers; the network shares a public ledger using blockchain technologies that record, and validate, every transaction processed.

A single institution, such as the government, does not control the Bitcoin network.

The idea behind the technology has always been – and remains – one of decentralization – that is, remaining completely independent of a central authority, like a bank, a government, or a country.

Anyone can access the open-source software that makes Bitcoin work, and its those individuals interested that maintain it.

But, who invented Bitcoin? Is it a valid and legitimate currency like USD? And why did nobody think of this before?

But before we begin, let’s talk about the creator of Bitcoin – or rather, the anonymous pseudonym that first published a concept.

How Did Bitcoin Start?

There are many questions about Bitcoin, but the most common one to be asked is, “Who created it?”

That answer is not straightforward, because the identity of the creator remains a mystery. All we have is a pseudonym – Satoshi Nakamoto.

The accounts are no longer active; the coins in his wallet have never been spent.

Satoshi Nakamoto has disappeared from the world, or so it would seem.

Fast Company recently published an article suggesting that Satoshi Nakamoto could be a group of people, including Neal King, Vladimir Oksman, and Charles Bry. Apparently, these three people filed for a patent related to secure communication just two months prior to the purchase of the Bitcoin.org domain. Perhaps it’s a coincidence; perhaps it’s not.

What we do have, however, are facts:

  • On October 31st, 2008, “Bitcoin: A Peer-to-Peer Electronic Cash System” was posted to a cryptography mailing list, published under the name “Satoshi Nakamoto”. The whitepaper outlined the foundation of how Bitcoin would operate.
  • On August 18, 2008, an unknown person or entity registered the Bitcoin.org domain.
  • On January 8th, 2009, the first version of Bitcoin is announced, and shortly thereafter, Bitcoin mining begins.

The mystery that surrounds Satoshi Nakamoto is fitting; privacy was a key value for both Bitcoin, and its users.

Others have tried to claim his mantle – most recently an Australian man named Craig Wright, who has since withdrawn his claim.

While we may never know who first created Bitcoin, we do know that the technology he started has left ripples in the financial industry.

Bitcoin has risen to fame thanks to individuals such as the Winklevoss twins controlling and growing the market, and major events that have defined this new technology’s existence such as the Mt. Gox Ponzi scheme disaster.

The people involved and the events that occur are a constant reminder that this market is unregulated and seem to fall in line with Satoshi Nakamoto’s goal of creating a decentralized network.

What is Bitcoin Used For?

Currency must have value to ensure stability.

The most common way for a person to judge a currency’s value is what they can use it on; Bitcoin is no different, and a host of vendors and merchants now accept it alongside, or in place of, fiat money.

One early adopter of Bitcoin was the computer retailer Dell. In fact, when Dell started accepting Bitcoin, it became one of the largest companies to do so internationally.

While the digital currency may total for just a fraction of the retailer’s total transaction volume, there are other key reasons why the growth of Bitcoin could be aboon for the retailer.

Dell reported earnings of $59 billion during 2015. Traditional transaction fees range from 2 to 3 percent of the purchase price – with Bitcoin, it’s much, much lower, nearing non-existent – saving the retailer a lot of money in the future.

Other companies, such as Expedia and Cheapair, have also started accepting Bitcoin, along with technology conglomerate Microsoft : users can add funds to their accounts with Bitcoin to purchase apps, games, and other types of digital content.

The acceptance of Bitcoin is a strategic decision on the part of these companies, most of which are reaching out to solidify their position with tech-savvy audiences.

There’s a lot of benefit to Bitcoin, and a variety of reasons for its use, including :

  • Faster Payment: Accepting wire transfers and checks is time consuming, and it can take several days for payment to clear. Bitcoin is faster and can take a matter of minutes, rather than days to process payment.
  • Lower Transaction Fees: The cost to accept Bitcoins is lower compared to other payment methods, such as credit cards or Paypal.
  • Independent of Governments: Since Bitcoin is decentralized, you own it – no authority has the right to take away your Bitcoin. People with concerns about mainstream banking systems unravelling find this a major benefit.
  • Elimination of Chargebacks: Once Bitcoin is sent, that’s it – you can’t chargeback, like you would with a credit card payment, which eliminates ‘chargeback fraud’ often used by criminals and scammers.
  • Protection Against Inflation: With a fiat currency, the government can print as much money as it desires – this drastically decreases the value of currency, and may result in inflation. In contrast, Bitcoin has a fixed number – after they have all been ‘mined’, no more Bitcoins will be created. Scarcity is an important aspect of currency which protects it from inflation.
  • Ownership of Currency: With Bitcoin, you own your coins. With other forms of digital fiat – such as Paypal – your assets may be held, and your account eventually suspending, locking you out of your earnings. Bitcoin puts you in control.

Is Bitcoin a Commodity, or a Currency?

Bitcoin is both. While it can be used to purchase items from major retailers, it’s also treated as property by government jurisdictions, such as the IRS.

The IRS issued a guide on Bitcoin for tax purposes, stating it will treat virtual currencies as property for federal purposes. They go on to state that:

In some environments, virtual currency operates like “real” currency — i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance — but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.

Typically, property is almost always something tangible that can be held in the physical realm.

The IRS goes on to state that:

General tax principles that apply to property transactions apply to transactions using virtual currency. Among other things, this means that:

  • Wages paid to employees using virtual currency are taxable to the employee, must be reported by an employer on a Form W-2, and are subject to federal income tax withholding and payroll taxes.
  • Payments using virtual currency made to independent contractors and other service providers are taxable and self-employment tax rules generally apply. Normally, payers must issue Form 1099.
  • The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.
  • A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property.

In addition to the IRS’s guidance, the United States Commodities Futures Trading Commission in 2015 that Bitcoin is, in fact, a commodity.

The Future of Currency

Bitcoin has garnered a lot of attention over the past decade, despite constant declarations of its death – 99 Bitcoins keeps a running tab of ‘Bitcoin obituaries’.

Despite all of this, Bitcoin’s future has remained bright. Greater adoption rates, and an increasing number of brands accepting the currency (you can get a full list qui) means the long-term view on Bitcoin is that it will see market maturity as time progresses.

Mainstream investing vehicles, such as exchange-traded funds (ETFs) and Futures trading, including Bitcoin will be a major help to reaching that market maturity. Bitcoin Futures are already trading on the Chicago Mercantile Exchange (CME), and legislation to create a crypto ETF is in the works.

These securities will help stabilize cryptocurrency prices and mitigate volatility, which will help the public’s confidence grow in favor of Bitcoin.

It’s important to understand that, much like the early days of 1992, Bitcoin is a new technology – and new technologies can take decades to reach critical mass.

But, much like the Internet, no one wants to miss out on the ‘next big thing’ – and Bitcoin is the biggest thing yet. Constant updates are occurring to Bitcoin thanks to what is called a “hard fork”.

These constant updates ensure that digital currencies continue to experience growth through technological development.


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Anarchy Legacy

A Crypto Anarchist’s Legacy

Airfoil Dec 20, 2018

Timothy May on the cover of the second issue of Wired magazine with 2 fellow cypherpunks

Sadly, this past week we lost an icon that helped to spur the cypherpunk movement. Timothy May, who wrote The Crypto Anarchist Manifesto in 1988, lauched a movement that is still very prominent today.

For the uninitiated, a Crypto-Anarchist focuses on subverting the current laws and using new technologies to the benefit of the common man.

In the original manifesto, May says crypto-anarchy focuses on “encryption, digital money, anonymous networks, digital pseudonyms, zero-knowledge, reputations, information markets, black markets, collapse of governments”.

The manifesto was written just before the first crypto wars began during the early 1990’s.

The governments of the world fiercely opposed the general public using cryptographic encryption protocols.

The idea that a normal citizen could completely hide what they say in an electronic message was their biggest concern.

The governments cited national security as a concern (We’ve heard this excuse used many times before).

Tim May was embroiled in the center of this alongside his group of fellow cypherpunks.

RSA Security, a leading computer securty company founded by world-renowned cryptologists, created this poster against a hardware chip that used a US-government supplied encryption standard

The legislation of the anti-encryption laws would also affect payment processing technology. There was a large push back from tech companies that would have to deal with these issues first-hand.

The crypto wars of the 1990’s ended with the concession from the government that encryption was readily available around the world.

The public had won their first bout against the government surveillance state. Alongside the public, you had the cypherpunks and large tech companies that were all fighting a common threat.

There was not much of an issue in terms of encryption for quite a few more years.

Every few years afterward, the idea of backdoors into encryption schemes were brought up but nothing ever came about these new ideations.

The Crypto Wars Redux

The expansion of computational power and development of more efficient processing equipment closed the gap as to who can gain access to encryption software.

The widespread availabilty of software/hardware that can perform these cryptographic calculations involved in encryption and the ease of use has made it possible for the layman to encrypt their own personal messages, video calls,emails, and notes.

Encrypting an email with someone who has never imported a key to their keyring, or generated their own PGP public/private key pair is a thing of the past.

Many of the services that exist today offer these solutions out of the box. The process has become much easier for all parties involved.

Anyone that is now using this technology benefits from this on a privacy and security level.

With all parties benefitting, the leviathan rears its head once more. Australia has passed an anti-encryption bill that will force large tech companies to allow the Australian government to obtain hardware access(citing national security as a major reason).

Outrage has spilled out of the larger tech companies. The end-to-end zero knowledge messaging/calling app, Signal, has taken a stand against this bill.

This sounds very similar to the issues Tim May was battling with during the early days of the First Crypto War.

The cypherpunks came out on top and I’m sure this legislation will face a similar fate.

May’s Impact on the World

The imprint that Timothy May left on the world is profound. The mass adoption of encryption as well as cryptocurrencies shows just how far ahead of the times he was.

May urged the importance of privacy.

He insisted on the use of encryption to keep your communications private.

Currently on a majority of mobile phones there are applications that provide encrypted communications. Whatsapp uses the Signal protocol which was developed by cypherpunk Moxie Marlinspike.

The rise of cryptocurrencies is an ideal that May was very hopeful for.

May did come out against the anti-privacy issues of bitcoin.

There are projects that offer solutions for this privacy debate.

Much of the developer-base of these certain cryptocurrencies have their foundation based in the cypherpunk tradition.

The Cryptocurrencies that aim for a privacy by default mechanism are monero and the soon to launch GRIN which uses the Mimblewimble Protocol (To see an extremely entertaining introduction to the GRIN project via talk-to-text chat for privacy preservation, listen to the creator of Grin).

Zcash is moving in the direction of private by default and the superior cryptography of the ZK range proofs will help to create a very private cryptocurrency.

Cody WIlson and Amir Taaki who worked on projects focused on the crypto-anarchic tradition including Dark Wallet and Defense Distributed

The impact Tim May made on the world by helping to create a social movement shows the importance and strength of his ideals.

He has impacted a generation of people that are growing up in the digital age.

He influenced builders in the 21st century.

You have people creating new currencies, exposing government surveillance on a national scale, circumventing the broken bueracratic system by creating their own markets, anonymous internet protocols, as well as making encryption applicable to the common man (You can find a list of prominent cypherpunks here and also here).

There isn’t enough that can be said about the applications in which he believed could positively affect us.

May was cognizant of the encroaching all-seeing eye of the state but I believe we are in much better shape now than we’ve ever been.

There may be negative news about what we currently face as individuals, from the unprecedented surveillance of the Snowden leaks to the aforementioned Australian anti-encryption bill, but looking at the grand scheme of our daily lives, these tools and their functions have helped to create a much better day than May could have imagined in 1988.

He was a proponent for the industriousness of human nature to outpace the slow moving regulation that would try to bog down any progress.

You can listen here to what he thought people/creators should do when they develop ground breaking technology.

Arise, you have nothing to lose but your barbed wire fences!

Timothy C. May – “The Crypto Anarchist Manifesto”

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