Like the bitcoin protocol, nostr is permissionless. All you need to use the protocol is to generate a key pair.
A public key (as a unique identifier) and a private key (to sign content you post).
1 person ≠ 1 account. You don’t even have to be human.
At the core of nostr is a protocol for packaging content (a.k.a ‘events’) which are sent to relays.
These events are simple text-based objects.
Unlike bitcoin nodes (which connect to one another to broadcast, receive, or validate data), relays operate as independent repositories of ‘events’.
When you send content to someone, you are not sending it directly to the recipient (P2P), but to a relay that you and the recipient are both connected.
When you broadcast a message, anyone who is following you can see it by also connecting to any common relay.
How could this possibly scale?
The nostr protocol is extremely light in terms of disk space per event. Additionally, a relay doesn’t need to store every single event.
Users interact with the nostr protocol through clients (native or web-based).
When open-source protocols are the basis for communication, innovation can explode at the fringes as anyone can tinker and build applications, no permission required.
Satoshi Nakamoto cites eight references in the Bitcoin white paper that influenced the Bitcoin protocol's design.
This thread explores each one and its significance.
For context, the Bitcoin protocol combines several existing tools, technologies, and procedures in a novel way.
1/ ‘b-money’ by Wei Dai is the very first reference listed:
“efficient cooperation requires a medium of exchange (money) and a way to enforce contracts. I describe a protocol by which these services can be provided.”
Dai would also be one of the first people Nakamoto contacted regarding the proposal of Bitcoin.
As #Bitcoin adoption continues its relentless march, so too does the onslaught of misconceptions, red herrings, and illogical arguments. The result of ignorance, malice, or fear.
A thread of the most common regurgitated fallacies:
"Bitcoin is a radical break from the past. Understanding the way traditional money works doesn’t help you understand bitcoin.
If anything, it hinders it.
The people who understand bitcoin the least are monetary economists. They cannot wrap their heads around it."
—Andreas M. Antonopoulos
There appears to be an endless list of critiques and criticisms levied against bitcoin. But they generally fall into three distinct buckets.