The 3 main things #bitcoin solves. π 
#Bitcoin is the most efficient energy network in the history of the world.
Not only is #Bitcoin for everyone, Bitcoin is the first financial system that doesn't even require you to be a human to use it.
#Bitcoin is a trustless, decentralized financial system.
#Bitcoin proof of work creates a connection between the physical and #digital worlds that cannot be falsified.
With its fixed supply and digital nature, #Bitcoin does not suffer from the same βtransmission lossesβ that plague the monetary energy networks of old.
#Bitcoin is accessible inexpensive remittance facilitator (money transferred from abroad to a home country)
#Bitcoin can do Machine-to-machine payments without the need for human intermediaries.
#Bitcoin is a tool for self-empowerment, and an open system built on the fundamental premise that people deserve a better money that works for them over time.
#Bitcoin mining can help monetize and finance a more efficient #energygrid, lowering infrastructure costs and bringing cheaper power to millions of people.
#Bitcoin mining and #renewableenergy such as #wind and #solar are a perfect match as renewables fluctuate in supply Bitcoin can accommodate those fluctuations with mining.
#Bitcoin when used on a mobile device allows you to pay with a simple two-step scan-and-pay.
#Bitcoin transactions are secured by mathematics and energy.
#Energy spent by mining using proof of work (PoW) prevents other people from undoing, rearranging or losing #Bitcoin transactions.
#Bitcoin can give you control over your money and a strong level of protection against many types of fraud.
The #Bitcoin network is always running and never sleeps, even on weekends and holidays.
Sending #bitcoins across borders is as easy as sending them across the street.
1 ASIC Miner can earn $5 to over $200 per day in #bitcoin or other tokens.
It's possible to send 100,000 bitcoins for the same fee it costs to send 1 #bitcoin.
Free #bitcoin wallets are available for all major operating systems and devices.
A #Bitcoin address is a 20-byte hash formatted using base58check to produce either a P2PKH or P2SH Bitcoin addressbthst looks like this πbc1q7n5gs4mq6r2k5ylchq99jy45gzmwuxvgznrgpc
A #Bitcoin Block reward is the amount that miners may claim as a reward for creating a block. Equal to the sum of the block subsidy (newly available satoshis) plus the transactions fees paid by transactions included in the block.
When several #Bitcoin nodes all have the same blocks in their locally-validated best block chain, it's called consensus.
Network difficulty is how difficult it is to find a block relative to the difficulty of finding the easiest possible block in #Bitcoin mining. The easiest possible block has a proof-of-work difficulty of 1.
#Bitcoin Mining is the act of creating valid Bitcoin blocks, which requires demonstrating proof of work using a specialized computer called an ASIC.
#Bitcoin transactions cannot be reversed, they can only be refunded by the person receiving the funds.
#Bitcoin transactions don't start out as irreversible. Instead, they get a confirmation score that indicates how hard it is to reverse them.
1 easy.
30 hard.
1 easy.
30 hard.
#Bitcoin is the decentralized alternative to central banking.
#Bitcoin has no owner and no authority that can decide it's fate. It's truly owned by the people.
#Bitcoin requires less #energy consumption than both the traditional #finance sector and the #gold extraction industry.
#Bitcoin miners are incentivized to seek #renewableenergy.
#Bitcoin has had near 100% uptime since 2013.
#Bitcoin mining really encourages the development of cheap, renewable electricity.
"The root problem with conventional currency is all the trust thatβs required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."
- Satoshi Nakamoto
#bitcoin
- Satoshi Nakamoto
#bitcoin
#Bitcoin only works correctly with a complete consensus between all users.
Changing the protocol can be very difficult and requires an overwhelming majority of users to adopt the changes in such a way that remaining users have nearly no choice but to follow.
Changing the protocol can be very difficult and requires an overwhelming majority of users to adopt the changes in such a way that remaining users have nearly no choice but to follow.
#Bitcoin mining can be done at home.
"Those who deride #Bitcoin are often blinded to the fact that 87% of the planet lives under autocracy or is forced into untrustworthy currencies.
4.3 billion people live under authoritarianism, and 1.2 billion people live under double- or triple-digit inflation." π€
4.3 billion people live under authoritarianism, and 1.2 billion people live under double- or triple-digit inflation." π€
#Bitcoin offers important and valid use cases to those who lack the financial security that many of us take for granted in the Western world.
#Bitcoin is.... π
#Bitcoin is an energy-transforming machine.
Just like drilling transforms energy into oil.
Just like how #mining with equipment transforms energy into #gold.
Bitcoin is just way more efficient than these other energy-transforming machines.
Just like drilling transforms energy into oil.
Just like how #mining with equipment transforms energy into #gold.
Bitcoin is just way more efficient than these other energy-transforming machines.
Without #energy production and stable #electricity humans don't survive.
#Bitcoin mining can help bring stability and security to the energy grid by providing a energy-transformation machine that can help fund the huge capital investments required for energy infrastructure.
#Bitcoin mining can help bring stability and security to the energy grid by providing a energy-transformation machine that can help fund the huge capital investments required for energy infrastructure.
#Bitcoin is just another way humans transforming energy into a liquid asset.
Some humans drill for #oil.
Some humans dig for #gold.
Some humans harness #hydropower for electricity.
Some humans put up turbines to harness #wind for #electricity.
Some humans drill for #oil.
Some humans dig for #gold.
Some humans harness #hydropower for electricity.
Some humans put up turbines to harness #wind for #electricity.
#Bitcoin Works for You, while you work for dollars $.
To understand #Bitcoin one must first understand #money and to understand money you have to understand the history of money.
And if you understand the history of money you will realize how corrupt and broken the current money system is.
And if you understand the history of money you will realize how corrupt and broken the current money system is.
#Bitcoinβs Proof of Work function relies on two core assumptions:
1) #Thermodynamics β miners must consume physical energy (work) to generate hashes.
2) Evolutionary Biology β humans are genetically programmed to be self-interested.
1) #Thermodynamics β miners must consume physical energy (work) to generate hashes.
2) Evolutionary Biology β humans are genetically programmed to be self-interested.
A #Bitcoin mining data center generally includes; a weather proof container, grid/power connection, transformer, switch, PDUs with direct to PSU power cables, internet router, switches, networking(cables), automated HVAC, fire system, shelving, lighting, security & monitoring. π
Bitcoin provides a way that no longer requires having to risk human lives to defend monetary property
This is worth every watt of electricity that #Bitcoin consumes.
Your dollars are dirty, not Bitcoin.
This is worth every watt of electricity that #Bitcoin consumes.
Your dollars are dirty, not Bitcoin.
#Bitcoin is basic mathematics π
Your money
$ USD = ββββββ
βΎ
Your money
#BTC = ββββββ
21,000,000
Like π #share π¨ #Retweet π
Your money
$ USD = ββββββ
βΎ
Your money
#BTC = ββββββ
21,000,000
Like π #share π¨ #Retweet π
β’ β’ β’
Missing some Tweet in this thread? You can try to
force a refresh
γ
