How can 1 Active wallet Node "Restart" bitcoin? What is Bitcoin? How is it secure? What Power do I have? – These and other questions from all communities answered (reddit.com)

Hello. I have been over in “other bitcoin communities” trying to help people understand why Bitcoin is amazing and help them understand that they do in fact have power over their money, as do you. If you are also interested, I encourage you to have a look. My write ups are here, and you can check my comment history for the questions that were asked. I tried to include the responses I made for the most common questions in my documents….

Bitcoin

How can 1 Active wallet Node “Restart” bitcoin? What is Bitcoin? How is it secure? What Power do I have? – These and other questions from all communities addressed by me.

Hello.

I have been over in "other bitcoin communities" trying to help people understand why Bitcoin is amazing and help them understand that they do have power over their money, as you all do.

It has not been ..a particularly.. pleasant experience. However I think I am making some headway.

If you are also interested, I encourage you to have a look. My write ups are here, and you can check my comment history for the questions that were asked.

I tried to include the responses I made for the most common questions in my documents.


edit: Lots of people commenting on my writing style, saying some really nice stuff.. I am a software developer with ADHD. I am not a writer or web designer, lol. I have tried to clean it up.

These posts are mainly from me attempting to explaining these very difficult topics to an internet forum (r/ btc), or the comments I received on medium.

It is disjointed, however the main post (All Active Nodes) is not, and I then just try to address the biggest questions I received about them in more medium posts. Thanks!



<3

submitted by /u/SupremeChancellor
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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

Every attempt to “improve” Bitcoin by creating another coin only serves to prove that Bitcoin’s value is as a secure store of value, thereby increasing its price as more people store their value in it.

If you peruse the various subreddits on the subject of crypto you'll see incredible frustration among the various communities behind other coins. Faster transactions, more transactions, larger blocks, faster blocks, turing completeness, confidential transactions – yet the price of bitcoin keeps going up without these.

Why?

Because bitcoin, at this stage in history, isn't about any of those things. Bitcoin is a system that can be used to reliably store value at no cost. Scarcity and security are the keys to value and you don't need any of those other features. And nobody has suggested any way at all to improve on these features of bitcoin.

So bitcoin keeps on winning on value and becomes the fastest growing way to store value. And of course, its value skyrockets as more value is crammed into it.

When the time comes to go from savings to spending, the competitive landscape will be very different. But you can't spend what you haven't earned and saved, and all of today's alternatives to bitcoin will have failed at earning the position of a savings vehicle.

submitted by /u/logical
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Bitcoin