Bitcoin From A Teenager’s Standpoint

I’m currently a senior in high school, have been in the cryptocurrency community since freshmen year. Also apart of a university’s Blockchain program.

I started Bitcoin when PayPal closed my account because I was a minor. I was always interested in entrepreneurship and without a bank, I thought I would be severely limited. I got mad at the power PayPal had over my money. When exploring ways to control my money, I found Bitcoin with the help of a prominent figure in the field.

In the last year, I have had classmates ask me about Bitcoin at least once a week. Many are beginners, others have empty Bitcoin wallets, and some even have some coins they’re interested in. But the overall theme is that they’re interested. I even had the chance to give Bitcoin to beginners and when they loved watching the dollar value change but the Bitcoin value being static.

One of my classmates decided to put their summer work money into Bitcoin (I gave him a hardware wallet) when he didn’t trust his parents being a co-owner of his bank account and wanted full control of his money. And this adoption tells me something, that one day these classmates of mine will be willing to accept Bitcoin when they are apart of or own businesses.

Bitcoin is more than just an investment, it’s liberty. It’s less power to centralization, more power to the people. Bitcoin allows you to be banked no matter your age, no matter how oppressed your country is, and no matter how much money you have. I have no doubt that Bitcoin will be here in five years, in 10 years, and I have no doubt I will one day be able to use Bitcoin to pay for my morning coffee.

submitted by /u/dustincrypto
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Why does Base58 WIF-format of PK have ‘5’ prefix (the standpoint of mathematics)

I’m trying create raw private keys using the steps:

  1. Take a version of PK (0x80) and concatenate (as prefix)with my pseudo-random 32bytes-array.
  2. Take a calculated checksum (4bytes) and push it to the end of the array.
  3. Encode the result to Base58Check using the algorithm:

    code_string = "123456789ABCDEFGHJKLMNPQRSTUVWXYZabcdefghijkmnopqrstuvwxyz"; x = converted_arrayofbytes_to_big_integer;        output_string = "";         while(x > 0)  {     (x, remainder) = divide(x, 58); //x becomes the integer part of dividing here     output_string.append(code_string[remainder]) }  return  output_string.Reverse(); 

Ok, I have done it, but I can’t understand when x devided into 58 (through the loop) why the last remainder is 4 always (decimal: when the remainder is 4, it use as index of code_string: the last value of output_string is 5 (Base58) therefore)? I assume this’s beacause of version’s prefix but who can explain it from the standpoint of mathematics?

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