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Resources are always controlled by a few people, so there is a difference between the rich and the poor. There is always a small number of people who have resources that most people look up to, perhaps because they work harder and have more capital. The world is not completely equal, so people need to work hard to change the status quo, such as climbing stairs, stepping on one step to reach another.
I hope that all of us here can become the 20%.
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The experience of failure is universal, not only in terms of investment, but also very useful in any other aspects.
Human growth is basically a process of experiencing failure. No one has succeeded all the way. All life is stepping on. Moving forward with failure, it's just that some people can swiftly cross over, while others can't jump out of the circle of failure for a lifetime.
Back to investment, the experience of failure is also very valuable. You failed, it must be because of the imperfections of your own investment system. Only when you find these shortcomings can you make targeted improvements. It can be said that those who do not learn to reflect on and sum up the experience of failure will never be able to make money in the market.
Fortunately, we all have a chance to start again.
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The development of human civilization is a process in which old consensus is replaced by new consensus.
My question is: Why is a new consensus needed? What problem does it solve?
The problem facing the world today is not the problem of the currency itself, but the problem of the distribution of wealth behind the currency.
Global collaboration requires near-synchronized changes in the civilized world to solve the problem. Currently, there is no global solution that can be implemented in a sustainable manner. Although the emergence of Bitcoin provides a way to solve this problem. But the consensus is far from reached.
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This is a great experience, linking the virtual world and the real world. It's amazing.
I think one month is too long, I may not be patient, or I will try too.
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After reading some articles from https://endthefud.org/, I am still not fully convinced that Bitcoin is decentralized and without Bitcoin being decentralized, it carries little to no value. Despite many supporters claiming that no government has control over the Bitcoin network or price (and that even if they do have control, they wouldn't hurt it due to innnovation), this seems to be proven untrue time and time again. For example, over the years, everyone labelled China threats as FUD and that they would never completely ban Bitcoin. Earlier this year China banned BTC mining, and over half of the entire network shut offline in the following weeks. Also most recently with the Infrastructure Bill, the broad language used to define a “broker”, is a major blow to decentralization. The arguments in the endthefud article don't seem to hold up. The articles claim that governments can't and won't cripple Bitcoin's decentralisation and even if they try to ban it, other governments will embrace it. While the second part is true, we're starting to see first hand that the first part is not with China turning their back to crypto. And now US and UK also starting to turn their back to crypto. If Bitcoin can be crippled with a little tax provision in a bill, is it really going to stand the test of time as being decentralised? And if it's not decentralised, what other value does it have? According to your statement, China has shut down half of its mining plants. What impact does that have on Bitcoin? It's just about short-term price fluctuations. There is no need to amplify the influence of China's policies. On the contrary, China's influence will become smaller and smaller. How do you understand decentralization? Compared with the existing centralized electronic cash system (online payment system), Bitcoin is the complete opposite: The currency issuance of the online payment system is centralized, and the issuance of Bitcoin is decentralized; The currency flow of the online payment system is centralized, and the transaction of Bitcoin is decentralized; The online payment system maps currencies in the physical world, and Bitcoin does not map any existing currencies; The online payment system itself does not issue currency. Bitcoin is issued out of thin air in the digital world. In terms of decentralization, the Bitcoin system has reached its limit. The initial stage of decentralization is automatic, that is, it runs automatically according to rules set by people, while the advanced stage of decentralization is autonomous, that is, fully autonomous and spontaneous. As an electronic cash system, the Bitcoin system has reached the ultimate state of decentralization : As a currency application, not only is its transaction autonomous, its issuance is also autonomous. As a computer network, it is completely decentralized, not just a distributed network. As an organization, it is completely community autonomous, and there is no need for a leader to coordinate. Decentralization is at the core of the blockchain thinking model, and Bitcoin has achieved the ultimate decentralization.
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If the legitimacy of the Internet age is to improve the efficiency of human communication and increase social productivity, then the series of innovations led by Bitcoin are showing more offensive thinking logic-the technological elite hopes to destroy the existing "centers" with new rules The “decentralization” of the relocation of the aborigines and the re-acquisition of a “free world”.
In their eyes, the traditional social governance structure is selfish and evil, and their idealism is about to smash all unreasonable supervision, and is free from the "people".
Their real driving forces are twofold: the first is the reality of finance Dissatisfaction with the order, the second is the high recognition of the "new civilization" of Bitcoin.
The new thinking represented by Bitcoin does not belong to the governance structure of the current society. It is not a contradiction between innovation and non-innovation, and it is also different from the traditional contradictions of human nations, religions, and races. This is a kind of "new civilization" and The conflict of the "old civilization".
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For the first time mankind used technology to ensure the inviolability of private property
In the Bitcoin world, the private key is the full authority to control the asset, and only those who have the private key can spend the Bitcoin in this account. In this world, there is no customer service. If you accidentally lose your private key, no one can use these bitcoin assets, which is equivalent to disappearing forever. There is no function like "provide ID card and retrieve password".
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Love measured by money is destined to not last long.
If that girl is a firm believer in Bitcoin, not only will she reap love, she will also reap wealth.
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OP, have you done a quick search on the history of blockchain? I've came easily to this page: https://www.icaew.com/technical/technology/blockchain/blockchain-articles/what-is-blockchain/historyBlockchain and digital coins too have a history from before Satoshi. He just put the pieces together perfectly and the result is a great implementation of blockchain and bitcoin as we know it. Blockchains can probably exist in different implementations too and they also clearly don't have to be public and hold bitcoin. Blockchain is a special database. There are plenty of uses for blockchain and it can clearly exist without bitcoin. Bitcoin runs on a public blockchain. Without the blockchain Bitcoin cannot exist. Period. To be honest, I haven't learned to search for old posts on the forum. Thank you for sharing, let me understand that Bitcoin, as the first and most famous product produced by blockchain technology, has indeed greatly promoted the popularization and implementation of its own technology, and it is also because the popularity of Bitcoin itself has fed back the blockchain. Iteration and update of technology.
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Suddenly chatting with a friend today. How do blind people use mobile payment? We don’t know the daily life of blind people. Blind people pay with paper money, but will digital currencies replace paper money in the future? (However, there is no certain mark on the U.S. bills, and the blind cannot touch the face value of the legal currency)
There are also some elderly and children who do not have mobile phones. Children can take care of them and learn cryptocurrency with their families. However, many elderly people have no children and lack the ability to accept new things. With the popularity of Bitcoin, will they continue to use paper money in the future?
In fact, for blind people, no one pays too much attention to their lives. Because there are no blind friends around, they don't think so much. If some technology is developed, it is very expensive consumption. With the increasing popularity of Bitcoin, what do you think will happen to blind and childless elderly people?
Even if Bitcoin is popular, it will not replace the existence of legal currency, at least the elderly will not wait for that day.This is unfounded worry
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Yesterday, a few new friends came to our home as guests, during which we talked about the topic of Bitcoin and blockchain. A said that the greatness of Bitcoin is not that it is Bitcoin, but that it invented blockchain technology. B said, no, blockchain technology created Bitcoin, and then there was blockchain before Bitcoin. C said that their relationship is like the relationship between a chicken and an egg, which is a philosophical issue. It's hard to tell who came first. D said After the birth of Bitcoin, it attracted the attention of some people. They found that Bitcoin is a good thing. There are many characteristics that modern society does not have. They continue to study it. A few years later, they found that Bitcoin uses a special bottom layer. Technology, they named this technology "blockchain". E said that if from the order of appearance, there must be basic technology first, followed by technology-based applications. But in reality, everyone has said that they have heard of Bitcoin and not the blockchain. In other words, I heard about Bitcoin first and then about blockchain. In fact, the reason is really very simple, there are two. 1. Because Bitcoin is so famous. 2. The application must be discovered before the basic technology. It is also easy to understand that the application precedes the technology being discovered. For example, for ordinary people, they first know about cars, and then about internal combustion engine technology. First know the aircraft, but may not know the turbofan engine technology used in the aircraft I said that from a technical point of view, the blockchain is known as the underlying technology of Bitcoin, and Bitcoin is the first application of the blockchain. Therefore, Bitcoin and blockchain are equivalent to the relationship between a table and wood. People first discovered a beautiful table, and later discovered that the material of the table is a good wood, and it can also be used to make chairs, cabinets and boxes. and many more. Who do you think is right? What do you think is the relationship between Bitcoin and blockchain? I found out that I was wrong.Thank you NeuroticFish and Xenon131 for providing information. https://www.icaew.com/technical/technology/blockchain/blockchain-articles/what-is-blockchain/historyhttps://link.springer.com/article/10.1007/BF00196791
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When I was in English class, the teacher said that the first letter of a word is capitalized to indicate that this thing is unique. So I always think Bitcoin is correct.
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The theft of digital currency and exchange security incidents occur so frequently that it has become a reason for the public to question the security of its underlying technology, the blockchain. So, let's take a look at the possible blockchain security risks of blockchain technology.
If I will be specific, Bitcoin blockchain has no security risk, the security risk is 51% attack which is not possible with the hashrate generated by bitcoin miners. But for other cryptocurrencies, there has been some reported 51% blockchain attacks due to inadequate mining hashrate. and they are also divided into "software and hardware", "online and offline", "PC and mobile" and other forms.
The types of wallets are limited and specific. They are: 1. Online wallets/hot walletWeb wallet, accessed through broswers Mobile wallet, mobile phone app wallet Desktop wallet, wallet on computer 2. Offline wallet/cold walletPaper wallet Hardware wallet Wallets on airgapped devices Due to issues such as historical data, network synchronization, and inconvenience, it is very cumbersome and unrealistic for individuals to run and maintain a huge Bitcoin client to manage assets. More and more digital currency asset management vendors have developed wallet applications or hardware.
What you want to comment about here is that people do not like to run full node wallet like Bitcoin Core because of the large memery space needed to download the full blockchain while people like to make use of Simplified Payment Verification (SPV wallet) which connects to central server and require no full blockchain download. But, for high privacy, running full node wallet like Bitcoin core is the best as it does not connect to central server but run as a node connecting to other nodes directly. In this world, there are always some people who have forgotten the initial key or lost the hard disk due to bad luck or other factors, resulting in the permanent disappearance of digital assets from the network. There are many such cases, and they are often seen in recent news or narratives.
To make this understandable, make use of seed phrase and private key. It is not good to store these on hard disk or online, just save it offline. To check people's opinions about this, you can check this thread. The mainstream exchange or wallet management software all provide copying or scanning codes to obtain the receiving address, but if the computer terminal is implanted with a Trojan horse, then the receiving address is also at risk of being replaced during the process of copying or executing the transfer.
That is why Bitcoin users need to be very careful and avoid malware. Also, it is very good to check and recheck the recipient's address before seeding to notice any change of address. Thank you very much for your correction, I think you are a highly skilled technical expert. I would copy the seed phrase by hand in a notebook, and then put the notebook in a safe place. Usually I would copy two copies in case I lost it.
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Similarly, there are always some people in this world who are careless, leading to the leak of the wallet key file and causing themselves heavy losses. On Twitter, someone once demonstrated using the AWS S3 resource scanning tool and found multiple Bitcoin wallet key files, wallet.dat, which can be downloaded publicly! Anyone who downloads the file and imports it into the Bitcoin client can transfer encrypted digital assets!
If it's encrypted, simply having the wallet file isn't enough to steal the cryptocurrency. The hacker need to brute-force the wallet and it'll take long time unless it's encrypted with weak password or hint/part of the password is known. Thank you very much for your correction, I am going to modify it now.
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I use my superficial knowledge to talk about the risks that may be encountered. If there are errors, please correct me, thank you. If you talk about the blockchain regardless of security, it's a "rogue"; if you promote the blockchain in the name of security, but you don't have any substantial actions, you are brazen. The theft of digital currency and exchange security incidents occur so frequently that it has become a reason for the public to question the security of its underlying technology, the blockchain. So, let's take a look at the possible blockchain security risks of blockchain technology. - the risk of Wallet
All mainstream digital currencies have corresponding digital asset management tools-wallets. Take Bitcoin as an example. At present, there are dozens of mainstream wallets that support Bitcoin, and they are also divided into Online wallets/hot wallet and Offline wallet/cold wallet.
Due to issues such as historical data, network synchronization, and inconvenience, it is very cumbersome and unrealistic for individuals to run and maintain a huge Bitcoin client to manage assets. More and more digital currency asset management vendors have developed wallet applications or hardware.
In this world, there are always some people who have forgotten the initial key or lost the hard disk due to bad luck or other factors, resulting in the permanent disappearance of digital assets from the network. There are many such cases, and they are often seen in recent news or narratives. Charles-TIM Suggestions about the best ways to backup seed phrase More professional and detailed introduction from the forum
The mainstream exchange or wallet management software all provide copying or scanning codes to obtain the receiving address, but if the computer terminal is implanted with a Trojan horse, then the receiving address is also at risk of being replaced during the process of copying or executing the transfer.
In addition to security issues such as "passwords", keys and wallet addresses, the wallet app itself also has greater risks. When using digital currency wallets, you should choose officially recommended wallet software, and resolutely do not use wallet software developed by unknown manufacturers or from unknown sources in social networks.
- the risk of Mining
1. The domain name of the mining pool server is hijacked, and the client has joined a fake mining pool for mining;
2. If there is a virus in the mining server, the wallet address will be replaced during the mining process;
3. The mining software itself is abnormal, and the wallet address is secretly changed;
4. The mining pool server was hacked, resulting in the transfer of the cryptocurrency obtained from mining.
Although distributed ledger technologies are known for their excellent security, this does not mean that they are completely secure. They may still be attacked, and data or information may still be stolen. You should know that blockchain is not 100% secure, and precautions should be taken to ensure security.
source https://blog.fearcat.in/a?ID=00001-d30edf63-baa4-49ee-add8-a3368ae8477ehttps://bitcointalk.org/index.php?topic=5256197.msg54635541#msg54635541
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if I have a wallet with 100$ and I sent out about 90ish transactions from said wallet, could someone check the ledger and identify said transactions came from the same source?
The traceability of the blockchain can publicly record every transaction. Blockchain.com and BitcoinWhosWho.com are mainly used by two tool websites. The former can be used to browse blockchain records, and the latter can provide detailed information about Bitcoin wallet addresses, and can also be used as a public database to help visitors inquire about addresses related to fraud.
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For those unfamiliar with citadels, this anti bitcoin "time traveler" incorrectly predicted everything ever and completely, with no understanding of economics: https://old.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/In order to follow his advice, let's review what a citadel is: What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
What would you have in your citadel? What policies? What equipment? I want to build a school in the citadel, and I can learn the courses I am interested in by paying with Bitcoin. Of course, the courses are about the world of blockchain and cryptocurrency. And everyone in the school can apply to be a teacher, share his skills or interesting experiences and so on.What I want to learn most is how hackers are made.
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Neither. Bitcoin is the king,
Assuming they have no idea about the cryptocurrency space in general, Bitcoin being "king" is meaningless. Bitcoin is electronically protected or encrypted,
Not everyone knows what "encrypted" is. Bitcoin may be a currency of the future.
Not super bad, but not a fan. Probably good enough if you can explain to them why. With bitcoin, you have the future.
Sounds scammy. If you don't buy it now, it will be the most regretful thing in 10 years.
Sounds scammy. Maybe focus on explaining the things that Bitcoin fixes instead, rather than specifically pitching an investment like a salesman. I feel the same as you. Slogan-style introduction of Bitcoin makes people doubt the reliability of Bitcoin. Introduce it from the technical aspect, it will be more clear.like FatFork I like the one by Steven Dryall: "Bitcoin is digital money that is tamperproof and openly traded." Like Steven said, the three points are very precise, accurate and create immediate understanding of the entire concept. Any subsequent questions will lead to further exploration personalized to the listener's information needs.
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Thank you for such detailed sharing. It is exactly what I need, and some skills I need to improve.
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Most of the trust in Bitcoin comes from the fact that it does not require any trust at all.
Bitcoin is completely open source and decentralized, which means that anyone can view the entire source code at any time. So any developer in the world can accurately verify the working principle of Bitcoin. Anyone can check all existing bitcoin transactions and issued bitcoins at a glance in real time.
All payments do not rely on third parties, and the entire system is protected by cryptographic algorithms reviewed by a large number of experts, such as those used in online banking. No organization or individual can control Bitcoin, and even if not all users are trustworthy, the Bitcoin network is still safe.
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