SATOSHI'S QUOTES EXPLAINED
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In this quote, Satoshi explains how the Bitcoin network resolves conflicts when two or more nodes (computers on the network) broadcast different versions of the next block in the blockchain simultaneously. This situation is known as a "fork" or "branching" of the blockchain.
Satoshi states that when nodes receive different versions of the next block, they will initially work on the first one they received. However, they will also save the other version, in case it becomes the longer chain. The "longest chain" is considered the correct one, meaning the chain with the most blocks.
The tie is broken when the next proof-of-work (PoW) is found, which is the solution to a complex mathematical puzzle that requires significant computational power. The node that finds the next PoW gets to add a new block to the chain, making it longer.
When one branch becomes longer, the nodes that were working on the other branch will switch to the longer one. This is because the longest chain is considered the most secure and trustworthy, as it has the most cumulative proof-of-work behind it.
In essence, Satoshi's quote describes the Bitcoin network's self-organizing and self-correcting mechanism, where nodes adapt to changes in the blockchain and eventually converge on a single, longest chain. This ensures the integrity and security of the blockchain, even in the presence of conflicts or simultaneous updates.
This concept is often referred to as the " Nakamoto Consensus" and is the foundation of Bitcoin's decentralized and trustless architecture. It allows the network to function without a central authority, relying instead on the collective efforts of nodes to maintain the integrity of the blockchain.
#Bitcoin #Education
#Bitcoin #Education
SATOSHI'S QUOTES EXPLAINED
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Satoshi is discussing the reliability and speed of broadcasting blocks in the Bitcoin network.
In this context, a "broadcast" refers to the transmission of a new block to all nodes on the network. Satoshi is saying that these broadcasts are expected to be very reliable, meaning that the data will almost always reach its destination without being lost or corrupted. This is because the underlying technology, TCP (Transmission Control Protocol), is robust and rarely drops transmissions.
Furthermore, the Bitcoin protocol has a built-in retry mechanism that allows nodes to retrieve data from other nodes if they miss a broadcast. This ensures that all nodes on the network will eventually receive the new block.
However, Satoshi notes that if the broadcasts are slower than expected, it may be necessary to increase the target time between blocks. This is because nodes need to receive and process new blocks quickly, so they can focus on generating new blocks rather than wasting resources on obsolete ones.
In essence, Satoshi wants the block propagation time to be much faster than the block generation time. If blocks take too long to propagate, nodes will spend too much time working on blocks that are no longer valid, which would be inefficient and waste resources.
This highlights the importance of efficient block propagation in the Bitcoin network, as it directly affects the overall performance and scalability of the system.
#Bitcoin #Education
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Satoshi made this statement about the SHA-256 hash function used in the Bitcoin protocol. In essence, Satoshi is expressing his confidence in the security of SHA-256.
To understand this quote, we need to consider the context of cryptographic hash functions and their history. MD5 (Message-Digest Algorithm 5) was a widely used hash function that was later found to be vulnerable to collisions, which are instances where two different inputs produce the same output hash value. This vulnerability led to the development of SHA-1 (Secure Hash Algorithm 1), which was designed to be more secure than MD5.
However, Satoshi is saying that the improvement from MD5 to SHA-1 was incremental, meaning that SHA-1 was not a fundamentally different or significantly more secure hash function than MD5. In contrast, SHA-256 (Secure Hash Algorithm 256) is a much more secure hash function that represents a major leap forward in terms of security.
Satoshi's statement suggests that SHA-256 is so secure that it can withstand attacks for "several decades" unless there is a "massive breakthrough attack." This implies that any potential vulnerabilities in SHA-256 would require a fundamental flaw in the underlying mathematics or a groundbreaking cryptanalytic technique to exploit.
In other words, Satoshi is expressing his confidence that SHA-256 is a robust and secure hash function that can resist attacks for a long time, making it a suitable choice for the Bitcoin protocol. This is important because the security of SHA-256 is crucial to the integrity of the Bitcoin blockchain, which relies on the hash function to secure transactions and control the creation of new blocks.
#Bitcoin #Education #SHA-256
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In this quote, Satoshi is describing the fundamental concept behind decentralized digital currency. He's envisioning a system where individuals can make online transactions directly with each other, without the need for intermediaries like banks, payment processors, or other financial institutions.
In traditional payment systems, transactions involve multiple parties: the sender, the recipient, and one or more intermediaries that facilitate the transfer of funds. These intermediaries often charge fees, impose restrictions, and require users to trust them with sensitive information.
Satoshi's idea is to eliminate these intermediaries and enable peer-to-peer transactions, where the sender and recipient interact directly. This approach would allow for faster, cheaper, and more private transactions, as well as greater autonomy and control for users over their financial activities.
In essence, Satoshi is proposing a decentralized system, where the power to make and receive payments is held by individuals, rather than centralized institutions. This concept is at the heart of Bitcoin to enable secure, transparent, and trustless transactions between peers.
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#Bitcoin #Education
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nostr:npub1cyla8qgt9gv8y6ydv8s2prt89h8afc0sr2kaz64ryjmlpdrzxm4qwlh53q speaking at #ICOT2024 -
International Conference On Thinking
Audio is a bit scuffed at times but OK.
Pretty cool to hear about the start of the Bitcoin community in Melbourne, the dedication Kieran has towards making sure the world doesn't fall into fucking pieces.
From the first physical Bitcoin school, to 21 BTC being donated to the school + kids, to Andreas Antonopolous being involved and donating 2 Pi's, to the break-in of his school, all the tech being stolen, then the Dept of Education shitting on the efforts of everyone involved and banning the use of shipping containers as open-source classrooms.
VR, Podcasting, Video Game Development, Bitcoin, Nostr, 3D Printing... the school did it all. Of course after the tech being stolen by local junkies and the local police doing *not a single thing* to try and retrieve stolen property, the whole thing collapsed in on itself like a dying star.
Throughout the Covid bullshit and the toughest lockdowns ever thown at the population of Victoria, in Australia (watch Battleground Melbourne on YT courtesy of Topher Field), our state was going pretty hard on communist ideals and Kieran thought...
"What Would Satoshi Do?"
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Not long after nostr:npub1cyla8qgt9gv8y6ydv8s2prt89h8afc0sr2kaz64ryjmlpdrzxm4qwlh53q wrote the whitepaper for a DAES, or a Decentralized Autonomous Education System. nostr:npub19p345mfx9cdks8a7p5vzyt9vkhavueh7g57murk24mwa0mn08fes8wdkan has been going ever since!
Thank fuck but since then Kieran has built a new hackerspace at a Primary School. With basically AI and University level subjects being dismissed and other 'essential' sites being blocked at the port level across the entire department of education... he got his own starlink brought in and bam. Now they're running nodes, learning nodes, learning lightning and going full orange and purple pilled.
Anyways, rambled on long enough, you'll learn of this if you watch his talk. I think he's gone through this type of talk like 500 times now so it would be cooler if other educators on Nostr could perhaps chime in or relate to his experiences in someway?
#Nostr #Bitcoin #Education #ICOT2024 #AskNostr #GrowNostr
Over the past few months, I have been immersing myself in reading, listening and observing Milei in my native Spanish while also speaking to Argentinians who are for and against his presidency.
While not a typical politician, he made the decision to enter government with a singular purpose: to support his country in achieving the seemingly impossible task of eliminating the corrupt ruling class.
Primarily an educator on mathematics and economics, he became a deputy for Buenos Aires just two years ago, driven by a desire to serve rather than rule. During this time, he raffled his entire salary to anyone who entered the contest.
The story goes that while witnessing the desperation of people jumping over food in a market, he was inspired to study economics to understand what to do.
He has employed his eccentricity as a means to convey his message but can also be calm and articulate when necessary.
His ultimate goal is to educate Argentinians about sovereignty, liberty, property, and money, and to inspire them to reclaim their power.
If he can effectively delegate and stay focused on his aspirations, there is hope for a transformative change, akin to what we have seen in El Salvador.
Austerity is one of his professed virtues that will support him with clarity to achieve the almost impossible.
Mirroring Argentina, currently, we need character and courage if we want to succeed in the collapse of Western civilization.
I am optimistic; it is an individual task and commitment to inspire a country, but everyone must do their thing if the goal is to leave the fiat standard.
#bitcoin #liberty #courage #milei #education #austrianeconomics #humanaction #JavierMilei
#nostr #plebchain https://image.nostr.build/0ec699becee88e91edc1cddb957d2ab6bd4fd38e7e91dbdf742ebd50cf1698f0.jpg
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