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₿itcoin Gandalf Profile picture
@BTCGandalf
Nov 21, 2021 • 14 tweets • 8 min read • Read on X
Scrolly
1/ I’m back at my hotel now with wifi so going to use this thread to share videos I took of the #bitcoin city announcement.

First, @nayibbukele entrance
2/First words
3/ Talking about El Salvador’s quick work Adopting bitcoin and the opposition attempts to sabotage
4/ The moment @nayibbukele announces #bitcoin city
5/#bitcoin city announcement continued
6/ #bitcoin city announcement continued 2
7/ Digging deeper on the details about #bitcoin city.
8/ #bitcoin city details continued including tax details
9/ @nayibbukele brings @Excellion up on stage to introduce the #bitcoin bond.

The bond was my favourite part.
10/ @Excellion breaking down the #bitcoin  bond 👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼
11/ #bitcoin bond breakdown by @Excellion continued
12/ more #bitcoin bond details
13/ “NATION STATE FOMO” - @Excellion
14/ THE END, @nayibbukele LEAVES THE STAGE.

• • •

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More from @BTCGandalf

₿itcoin Gandalf Profile picture
May 5
This is Dr. Adam Back, one of only a handful of cryptographers and cypherpunks cited in the Bitcoin White Paper.

In 2013, he spent 4 months trying to improve bitcoin. Despite having a PhD in Distributed Systems, he failed.

So, why is it so difficult to improve Bitcoin? 🧵 Image
To answer this question, we must go back to the beginning and first answer, "What is bitcoin?"

According to the white paper, bitcoin is a peer-to-peer electronic cash system.

In other words...
... Bitcoin is software that users can run on their computers. It allows them to transact directly with each other using its native currency, also called bitcoin.

No permission is required and no single person, company, or government controls it.
Read 26 tweets
₿itcoin Gandalf Profile picture
Apr 20
Why This Halving Is Different

A thread 🧵 Image
The number of new bitcoin issued per block just halved.

This is nothing new. It's happened every 210,000 blocks (approximately every 4 years) since bitcoin was launched. Satoshi programmed bitcoin to do this.

So what makes this halving different?
To better understand this, we need a short history lesson.

Two things happened during the last two years that changed everything. I'm going to explain one of them using an analogy that I've never heard anyone use before and that makes it very easy to understand.

Ready?
Read 33 tweets
₿itcoin Gandalf Profile picture
Apr 16
What actual utility do you, personally, get from running a bitcoin full node?

🧵
We all know the popular saying "bitcoin is rules without rulers."

I have a slightly different take on this.

Bitcoin is rules enforced by a decentralized set of rulers aka node operators.
The beauty is that you can become a "ruler" by running a node.

As a ruler, you can only impose the rules on yourself, or anyone else who uses your node.

With that in mind, here's the list of top 3 benefits you get, personally, by running a node.
Read 18 tweets
₿itcoin Gandalf Profile picture
Mar 12
So... everyone is cheering on the bitcoin spot ETFs - but I think they're the end of bitcoin as we know it.

Here's how I think it all goes down...
*disclaimer - I don't *want* bitcoin to fail. The world will be a better place if it wins...

but wanting something doesn't mean it's going to happen. If it did, we would all be in our citadels, living on a bitcoin standard.
Ok, so you bought bitcoin early. A life changing amount.

First of all - f*ck yes. You f*cking did it!

The bitcoin spot ETFs have been approved. Tens of millions...No, no - tens of BILLIONS of dollars of inflows are happening daily and bitcoin is at all-time high.
Read 25 tweets
₿itcoin Gandalf Profile picture
Mar 8
I would short bitcoin if there was an easy way to do it.

That's what Bill Gates said in 6 years ago when bitcoin was at $9,600.

Bitcoin is up 600% since then.

Here are 21 (😉) other historically bad takes on bitcoin.

🧵 Image
1. Nouriel Roubini

The famed...wait, why is this guy even famous?

He's a treasure trove of terrible bitcoin takes.

Roubini went particularly hard at El Salvador in late 2022 as the FTX fraud caused bitcoin's price to crash.

Bitcoin is up 350% since then. Image
2. Charlie Munger

He famously hates bitcoin.

But there's one soundbite from him that I'd never heard before.

During a 2019 interview, Munger said trading bitcoin was immoral and "almost as bad as trading freshly harvested baby brains."

Bitcoin is up over 1700% since then.
Read 25 tweets
₿itcoin Gandalf Profile picture
Feb 1
One of the most revolutionary inventions ever: Bitcoin.

On January 3, 2009, bitcoin's mysterious creator Satoshi Nakamoto mined the first ever block.

Since then, bitcoin has outperformed all other assets.

Here are 9 reasons why bitcoin is so valuable: Image
@BitboBTC 1. Limited Supply

Unlike fiat currencies, stocks, and many others assets of which more units can be created, bitcoin has a supply cap of 21 million.

Bitcoin is scarce.
2. Fixed and predictable supply schedule

Not only is the supply of bitcoin capped, but the rate at which new bitcoins are created is fixed and known.

The number of new bitcoins created halves every 210,000 blocks (~4 years).

The last one will be mined in the year 2140.
Read 11 tweets

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