Lumberjacks work hard to chop down valuable trees in the forest, #ProofOfWork in #Bitcoin involves miners expending effort to secure the network and earn rewards. PoW is everywhere. Best Lumberjack song: https://t.co/vnVdev79BG
#Bitcoin whitepaper, published on this day in 2008, changed the world. It introduced a revolutionary concept - a decentralized, trustless currency system. It's not just a document; it's the blueprint for the future of finance. #BitcoinWhitepaperDay
"Effective now, I'm halting my involvement with the development of the lightning network and its implementations" ~Antoine Raird
fwiw I raised concerns about the handling of a recent critical flaw disclosure to Antoine a few days ago, and we've been discussing the current culture of complexity and how we can barely lock down LN, never mind more complex "solutions."
Antoine helped create the basis of LDK, the LN stack our company relies on in Bitkit, our wallet.
He also created mempoolfullrbf, which, at the risk of speaking for him, I know he regrets. He even tried helping me remove it from the Core pre-release, but we failed to make Core devs see a better path.
I have been warning people for a while now that LN might not be as sweeping a solution as people think, and that it may revert to old-school payment channels and a simple hub network someday, because this is the worst case I see after working with it in production for 5 years. It's good to be aware of the extremes.
While I am not jumping ship from LN at this time, everyone in LN and in Bitcoin Core should step back and think about how to properly move forward, even if it requires more time, effort, and backtracking, because the rest of us need confident guidance on how to move forward.
https://t.co/zDhddJOPD2
#Bitcoin allows you to opt out of the traditional banking system. With decentralized control, your funds are truly your own, giving you financial independence and security #FinancialFreedom
In #Bitcoin , the 'Longest Chain' rule is the backbone. Miners race to add blocks, and the longest chain prevails, with over 51% network consensus. This ensures security and harmonizes the entire network on a singular blockchain. #Consensus
"Exciting developments in El Salvador! Volcano Energy's Bitcoin mining pool, powered by renewable geothermal energy, is taking the crypto world by storm. Sustainable energy and Bitcoin integration are the future! #BTC@maxkeiser#RenewableEnergy