Bitcoin Doesn't need Rescuing.
1361 sats \ 5 comments \ @iam_jerry 28 Jul bitcoin
I think most bitcoiners are yet to understand the following parts of the whitepaper:
  1. A peer-to-peer electronic cash system.
  2. Digital signatures provide part of the solution, but the main benefits are lost if a TRUSTED THIRD PARTY (imw, like politician, bankers, businesses) is still required to prevent double-spending.
  3. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
  4. The system is secure as long as honest nodes collectively control more CPU(imw, /GPU/ASIC) power than any cooperating group of attacker nodes.
Now, the system (Bitcoin) is up and running, without needing permission from any third party. Bitcoin doesn't need any politician including Trump. Instead, they need Bitcoin.
Bitcoin is self-sovereignty through self-custody!
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42 sats \ 0 replies \ @k00b 28 Jul
This is a nice exercise. I wonder if I went through it I’d pick out the same things.
You, rightly, focus on the benefits and what’s required to protect those benefits. I’d probably get more into the weeds of solving BGP with incentives.
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0 sats \ 0 replies \ @BitcoinAbhi 28 Jul
As you can see what's happening in US, Bitcoin is taking control of politics. Soon Bitcoin will take over other things and those who don't understand it will keep repeating that Bitcoin needs to be saved.
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0 sats \ 0 replies \ @zapsammy 28 Jul
🍐2🍐💻💸
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0 sats \ 0 replies \ @guts 28 Jul
Peer to peer electronic store of value.
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0 sats \ 0 replies \ @5e5d0604a5 28 Jul outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.