Bitcoin not Blockchain
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The document discusses how blockchain has become a hype word but is just a data structure, and that corporations are trying to take ideas from Bitcoin by selling blockchain consulting or hosted databases. However, the document argues that Bitcoin is not blockchain, but rather is open, global, and borderless digital money, and that its value is in being freedom money rather than being valued like other coins.
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Introduction to Bitcoins and Cryptocurrency
Cryptocurrency is a digital currency that uses encryption techniques to regulate currency generation and verify fund transfers independently of a central bank. Bitcoin, created in 2009, was the first cryptocurrency and introduced the concept of a decentralized digital currency not controlled by any single entity. Cryptocurrencies operate using blockchain, a public ledger stored across a network of computers that records all transactions. Key characteristics of cryptocurrencies include decentralization, ease of setup with no transaction fees, anonymity, and transparency through public recording on the blockchain. New currency units are "mined" by users who receive bitcoins for verifying transactions, with the total number of bitcoins limited to 21 million under the cryptocurrency protocol.
Bitcoin - the Basics
Bitcoin is an open-source cryptocurrency created by the pseudonymous Satoshi Nakamoto. It is a decentralized digital currency that uses peer-to-peer technology to operate without a central authority. Transactions are verified through a proof-of-work system and recorded in a public distributed ledger called a blockchain. While bitcoin offers advantages like instant transactions and anonymity, it also faces challenges like volatility, scalability issues, and the risk of losing coins if private keys are lost. Overall, bitcoin remains a controversial new currency that some see as the future while others see risks in its use and acceptance.
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This document discusses cryptocurrency and bitcoin. It begins with an introduction to cryptocurrency and defines it as a system that uses cryptography to allow secure digital transactions in a decentralized manner. It then discusses two major problems in computer science that bitcoin addresses: the double spending problem and the Byzantine Generals problem. It provides details on how bitcoin uses a distributed public ledger called a blockchain and mining to solve these problems. The document also covers bitcoin mining, payments, advantages and disadvantages of cryptocurrency.
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Introduction to Bitcoins and Cryptocurrency
Cryptocurrency is a digital currency that uses encryption techniques to regulate currency generation and verify fund transfers independently of a central bank. Bitcoin, created in 2009, was the first cryptocurrency and introduced the concept of a decentralized digital currency not controlled by any single entity. Cryptocurrencies operate using blockchain, a public ledger stored across a network of computers that records all transactions. Key characteristics of cryptocurrencies include decentralization, ease of setup with no transaction fees, anonymity, and transparency through public recording on the blockchain. New currency units are "mined" by users who receive bitcoins for verifying transactions, with the total number of bitcoins limited to 21 million under the cryptocurrency protocol.
Bitcoin - the Basics
Bitcoin is an open-source cryptocurrency created by the pseudonymous Satoshi Nakamoto. It is a decentralized digital currency that uses peer-to-peer technology to operate without a central authority. Transactions are verified through a proof-of-work system and recorded in a public distributed ledger called a blockchain. While bitcoin offers advantages like instant transactions and anonymity, it also faces challenges like volatility, scalability issues, and the risk of losing coins if private keys are lost. Overall, bitcoin remains a controversial new currency that some see as the future while others see risks in its use and acceptance.
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Bitcoin was the first cryptocurrency created in 2008 by Satoshi Nakamoto. It operates on a decentralized peer-to-peer network, allowing anonymous transactions at low cost. New bitcoins enter the market only through mining, where users solve mathematical problems. While the legal status of bitcoin varies by country, its popularity has driven demand and market price despite criticism it is a speculative bubble.
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Cryptocurrencies use cryptography to secure digital currency transactions and control the creation of new currency units. The first cryptocurrency was Bitcoin, created in 2009. There are different types of cryptocurrencies including those that function solely as currency like Bitcoin, those that enable distributed computing like Ethereum, and privacy coins that aim to hide transaction details. Other examples of cryptocurrencies include Monero, Litecoin, Dogecoin, and Dash. Data mining involves discovering patterns in large datasets using machine learning and statistics to extract useful patterns. Bitcoin is a decentralized digital currency powered by blockchain technology that allows peer-to-peer transactions without an intermediary.
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- Cryptocurrency can be bought through online exchanges, Bitcoin ATMs, vouchers, or from other people. Anyone can buy cryptocurrency, including individuals, businesses, investors, and more.
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This document defines and describes various financial markets, including spot markets, futures markets, foreign exchange markets, and interbank lending markets. It provides the following key details:
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What is Bitcoin and How is it related to Satoshi Nakamoto White Paper.pdf
Well the terms like bitcoin & block chain are being coined and referred to everywhere over the internet or over any investment or financial platform the reason being its increasing popularity and the mammoth returns that people have made by investing in these avenues.
Although the concept of bitcoin is known to many but still there are many that are confronted with this question that what is a bitcoin and how does it work? so, in this blog I have made a sincere effort to explain the same in the easiest of manner for you to understand this concept. So as we move ahead we will dive in this concept of What is Bitcoin? How is it related to White paper of Satoshi Nakamoto? to understand the basics of bitcoins and how would its future be like.
The term crypto currency is being coined everywhere due to its increased popularity worldwide, it is being looked at with great aspiration to park one’s money for a lucrative and manifold return. One can well imagine the return percentage on his/her investment in bitcoins by the fact that 1 bitcoin was worth $0 in 2009 and it now values at $55,353 (at the time of writing this article).
This means you could have been a millionaire or a billionaire if a reasonable investment was made in bitcoins in 2009 and was to be redeemed now.
Cryptocurrency- A Digital asset as a medium of exchange:
Crypto currency is a digital asset that is designed in such a manner that it offers the benefits of a medium of exchange like any other currency, so you can buy any item in exchange of these digital assets that you possess from the seller that accepts these forms of payments.
These digital assets are stored in computerized databases as they do not exist in physical form, using strong cryptography to secure the transaction records.
Decentralized Cryptocurrency Explained in Easy:
Whenever these digital currencies are minted, mined or created by the originator , the process is said to have exercised a centralized control, however when these are further disseminated to larger groups a decentralized control is said to have exercised. Each cryptocurrency functions through a distributed ledger technology that is typically known as block chain technology that serves as a public financial transaction database.
Although there are several other Cryptocurrencies that exist in the digital world and they too have offered good returns over a period of time, but the major issue involved in these digital currencies is that they are not backed by any of the apex bank of any country nor do they are traded in any banking channel.
Usually these digital currencies or cryptocurrencies that are not backed by any government or banking channel have no intrinsic value and nor do they will have in future.
Their values are derived purely on the basis of market forces of demand and supply and are a private fiat money. The market of these digital assets is highly volatile and have no capping on their price increase or decrease.
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The document discusses Bitcoin and cryptocurrency. It begins by defining Bitcoin as a digital currency and decentralized payment system. It then covers how Bitcoin works through the blockchain network, how new Bitcoins are created through mining, and different types of Bitcoin wallets. The document also explores how Bitcoin can currently be used for purchases and money transfers, and speculates that Bitcoin may become more stable and widely used in the future as an alternative global currency.
Getting Current on Cryptocurrency
This document provides an overview and introduction to cryptocurrency. It discusses the origins and timeline of cryptocurrency beginning with Bitcoin's launch in 2009 by Satoshi Nakamoto. It introduces key concepts of blockchain technology such as proof of work consensus and public key cryptography. It also discusses the rise of alternative coins and tokens as well as Initial Coin Offerings. Finally, it provides some life lessons learned from the development of cryptocurrency including that consensus is difficult to achieve, technology will continue to get simpler over time, and that major innovations are often preceded by periods of exuberance and speculation.
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The Lightning Network is enabling widespread adoption of bitcoin in El Salvador by making transactions fast and low-cost. Lightning allows tiny amounts of bitcoin to be sent and received off the bitcoin blockchain through a growing network of channels. This is powering Strike, an app that people in El Salvador's 70% cash economy are using to send and receive bitcoin to buy fruits and vegetables. While Lightning may be the most important project for bitcoin, the team behind its development at Lightning Labs, led by CEO Elizabeth Stark, has avoided publicity to focus on the technical work.
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Independent Study - College of Wooster Research (2023-2024)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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1. Elemental Economics - Introduction to mining.pdf
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
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Who Is Abhay Bhutada, MD of Poonawalla Fincorp
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5 Tips for Creating Standard Financial Reports
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What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessLabour Market Information Council | Conseil de l’information sur le marché du travail
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.Recently uploaded (20)
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Bitcoin not Blockchain
- 2. https://medium.com/@jimmysong/why-blockchain-is-not-the-answer-3b7d5f612d11 yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 3. THE BLOCKCHAIN IS A DATA STRUCTURE yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 4. THAT HAS BEEN TURNED INTO A HYPE WORD yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 5. Digitization Coopetition Transparency Cryptography Standardization "Immutability" CORPORATIONS TRYING TO TAKE IDEAS FROM BITCOIN yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 6. IBM SELLS BLOCKCHAIN CONSULTING yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 7. BUT IT'S JUST A HOSTED DATABASE yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 8. Bitcoin is not blockchain. Bitcoin is open, global, borderless, freedom money.
- 9. MARKET DOES NOT VALUE OTHER COINS yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 10. BITCOIN'S TAM IS GLOBAL MONEY yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 11. The makers of the Simpsons movie placed images of Homer Simpson at the base of escalators. The steps of the escalator were covered in pictures of donuts that seemed to disappear into Homer's gaping mouth. yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 12. 1995 We’re promised instant catalog shopping...So how come my local mall does more business in an afternoon than the entire Internet handles in a month? yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 13. yan pritzker • inventingbitcoin.com • twitter.com/@skwp Consider when Cliff Stoll made his prediction. It was 20 years in but 0.5% into an exponential trend.
- 14. BITCOIN OBITUARIES CONTINUE TO BE WRONG A DECADE IN 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 15. IT'S A BUBBLE THAT CRASHES UPWARDS, ALL THE TIME yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 16. The makers of the Simpsons movie placed images of Homer Simpson at the base of escalators. The steps of the escalator were covered in pictures of donuts that seemed to disappear into Homer's gaping mouth. IN REALITY, ONE OF THE MOST EXPONENTIAL TRENDS OF THE DECADE yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 17. CHANGING NARRATIVES yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 18. There's Bitcoin, and there's Shitcoin ALL THESE FEATURES ARE DIFFERENT FROM MANY OF THE THINGS PEOPLE CALL COLLOQUIALLY 'SHITCOIN' BECAUSE THE VALUE CAN BE DISTORTED BY A CENTRAL AUTHORITY, SO PEOPLE DO REALLY HAVE THEIR ASSETS AT RISK. yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 19. There is no capacity to kill Bitcoin THE WORLD THAT SATOSHI NAKAMOTO, AUTHOR OF THE BITCOIN WHITEPAPER ENVISIONED, AND OTHERS ARE BUILDING, IS AN UNSTOPPABLE FORCE. WE SHOULD NOT ATTEMPT TO DETER THIS INNOVATION; GOVERNMENTS CANNOT STOP THIS INNOVATION, AND THOSE THAT HAVE TRIED HAVE ALREADY FAILED yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 20. If we tried to ban it, we couldn't succeed. IF THE UNITED STATES DECIDED WE DIDN’T WANT CRYPTOCURRENCY TO HAPPEN IN THE UNITED STATES, AND TRIED TO BAN IT, I’M PRETTY CONFIDENT WE COULDN’T SUCCEED IN DOING THAT BECAUSE THIS IS A GLOBAL TECH, A GLOBAL INNOVATION. yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 21. 2018 Cryptocurrencies are a crock. They allow a few dozen men in my district to sit in their pajamas all day and tell their wives they’re going to be millionaires 2019 An awful lot of our international power comes from the fact that the U.S. dollar is the standard unit of international finance and transactions...It is the announced purpose of the supporters of cryptocurrency to take that power away from us yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 22. ZOOM OUT AND HODL yan pritzker • inventingbitcoin.com • twitter.com/@skwp
- 23. BITCOIN IS NOT TECH BITCOIN IS A SCARCE MONETARY GOOD READ MENGER BEWARE OF VC COINS, TOKENS AND, FORKCOINS THEY WILL NOT HOLD VALUE yan pritzker • inventingbitcoin.com • twitter.com/@skwp