“Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient.” -Hal Finney, Dec 2010

R.I.P. my Satoshi Nakamoto.

submitted by /u/slacker-77
[link] [comments]
Bitcoin – The Currency of the Internet

Every day that goes by I realize that Bitcoin is much more of a social revolution than a financial one…

• It has presented itself as a way to make huge profits quickly but I believe it’s just a way to attract as many people as possible. To outsiders, this looks like a cult, naive and short sighted.

“I’ve seen this before” many say.

But they haven’t. It’s not 1999, it’s 1929.

• Every major revolution comes once in a generation. No one fully lives through two, which is why they repeat themselves. Over and over. Approximately every 80-90 years. (“The Fourth Turning”)

• I don’t know what will happen with Bitcoin price or any crypto for that matter but I do know this – there is something brewing with geopolitics, with the economy, with inequality and with how things currently are. Travel around the world – you feel it

• This is why I urge everyone I know to buy some crypto, mostly Bitcoin, because it is a hedge against that macro force. The price will go up and down. Maybe it pops then comes back. But that won’t matter in 10 years – the seeds have been planted.

• Beyond the profits and the daily dopamine rush, this is infinitely bigger than people think – not because people will spend Bitcoin on groceries but because of what it represents – freedom from the system.

Only when we look back will we realize what it is we were a part of.

submitted by /u/21millionreasons
[link] [comments]
Bitcoin – The Currency of the Internet

If you have old ASICSs, get them ready. We'll need every hash power to make sure bitcoin is secure after the fork. (reddit.com)

Our first duty is to protect and defend forever bitcoin ecosystem and bitcoin network. The sole principle of existence and the future is this. This principle is your most valuable treasure. Also even in the future, there will be internal and external enemies who will want to deprive you of this treasure. One day if you are obliged to defend Bitcoin and the network, you will not think of the circumstances, opportunities and conditions in which you will be found in order to begin your duties…

Bitcoin