Article designed to help beginners learn about Bitcoin in a fun, easy to follow mannerwww.clementinemoney.com/what-is-bitcoin/
111 sats \ 2 comments \ @BTC_LN 19 Jun 2022 bitcoin
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20 sats \ 1 reply \ @om 19 Jun 2022
This article is designed to help beginners learn about Bitcoin in a fun, easy to follow manner.
Recent protocol implementations such as Schnorr signatures and second layer solutions like the Lightning Network
with the launch of the Lightning Network––a second layer bitcoin scaling solution
Beginners have no idea whatsoever what a second layer solution is.
nodes create consensus
True but needs an article as long as this one to wrap beginners' heads around it.
In 2022 at the time of writing, bitcoin is still volatile with 50-80% drops not uncommon.
The ability to store value indefinitely is critical for any money to gain widespread trust and adoption. Bitcoin achieves this particularly well [...]
Long term, maybe. But for short to medium term those 50-80% drops are a little bit of a problem for storing value.
a 12 to 24 word private key.
You probably mean a seed. Private keys are obtained from a seed using the PBKDF2 function. It is technically possible to encode private keys directly into words but nobody does that.
[...] they will start to think about the value of every day items in terms of bitcoins and satoshis rather than dollars. This is already starting to happen in countries like El Salvador [...]
No, they definitely still measure value in $. Maybe those 50-80% drops have something to do with it.
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10 sats \ 0 replies \ @clementinemoney 25 Jul 2022
Hi! I’m the original author, and just joined stacker news. This site is awesome and I had no idea our article was shared here.
I just wanted to say thank you deeply for your feedback! You’ve made great points here and I will be implementing some changes to address those points. Much love, kind stranger! 🧡
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