People will ask, “What is Bitcoin?”. The answer depends on who you are. If you are an anarcho-capitalist, maybe you see Bitcoin as a step to overthrowing the government. If you are an economist, you see Bitcoin as a hedge against the cabal of banks who ruthlessly print money, backed by the promises of the […]
Sometimes when listening to Bitcoin related podcasts, you will hear this term “Schelling point”. I’ve heard this phrase before, but it seems to be one of those concepts that you understand implicitly, without being able to explain explicitly. A Schelling point refers to a focal point, that people will use to coordinate, without communicating explicitly. […]
The Bitcoin Network is different from Bitcoin Core. Bitcoin Core is an implementation of the Bitcoin network rules. Other implementations of the Bitcoin network: Knots BTCD Bcoin Libbitcoin BitcoinJ Anyone who downloads and runs a node from these projects, is running a node on the Bitcoin Network. What is the Bitcoin Network? How do we […]
So I struggled with this for a while — I installed Bitcoin on a linux instance by cloning the Github repository, and running ./bitcoind -daemon -pruned=550 The only problem I found, was that I could not find Bitcoin.conf. Turns out, that sometimes bitcoind will just run without it, so you can go ahead and create […]
Interesting interview with Chris Derose where he talks about the philosophy and mindset of Bitcoin “maximalists”. Good discussion overall about mindset, alliance and Bitcoin as a God substitute.
Bitcoin is a hedge vs overengineering and giant centers of authoritarian control. Bitcoin is a bad bet, until it becomes the ideal bet. Bitcoin is a bet that localism wins in the long-run and preparing an infrastructure where localism can thrive.
Working Through The Chapter In this chapter we build a wallet. The first version must: Create new addresses Manage private keys Transfer payment details Make a payment Keep track of funds Back up private keys. To buy something we go through a few steps: Cafe creates a new address, and requests 10 Cookie Tokens. This […]
Introduction Chapter 2 of Grokking Bitcoin lulls you to sleep, compared to chapter 3 of Grokking Bitcoin. I felt like this chapter jumped in difficulty significantly compared to the previous chapters. The table of contents for this chapter include: Cookie-eating habits disclosed Replacing names with public keys Shortening the public key Avoiding expensive typing errors […]
Introduction Chapter 2 of Grokking Bitcoin gets into cryptography, and is titled, “Cryptographic hash functions and digital signatures”. Its table of contents for this chapter covers: The cookie token spreadsheet (concrete example of how Bitcoin works) Cryptographic hashes Exercises Digital Signatures More Exercises This chapter goes more in-depth about Bitcoin and starts to get nitty-gritty. […]
Introduction I bought Grokking Bitcoin because I saw it was recommended by someone (Luke Dashjr?) on twitter. I thought it would be a good add to my library, especially since I don’t know a lot about Bitcoin yet (comparatively). It’s my goal to become a Bitcoin developer, and I’m hungry to learn more. The first […]