Mist

bitcoin

How Does Bitcoin Mining Work? PoW & Bitcoin Security | Gemini

A day without "Technology" 💡

The role of "consensus mechanism" 💡

Sorry, I will change it nextime, thank you for the reminder 👌

Stacker Saloon

saloon

It's been a hard day's these past few weeks, hard to find sats haha

@Mist's bio

I've been striving more knowledge in the past few days and apparently a lot of ideas and factors that I discovered and one of that is the "consensus mechanism".

I'm just a newbie in the world of cryptocurrency and also thankful that I found this organized group the SN it helps me to learn much more.

Now I will be giving some glimpse about the role of consensus mechanism as one of those main character of Blockchain which is the heart of Bitcoin as a concrete foundation that maintains to secure its system.

So when we are talking about consensus mechanism it is a part of Blockchain that its role is to provide command on series of blocks inside the Blockchain that verifies transactions from nodes to ensure that all of transactions are valid and authentic in short the-so-called "PROOF OF WORK" 💡

My first impression about Bitcoin lately 

Worldcoin is not what we meant by making crypto mainstream💡

Haha, sorry did I break the rules master?

Worldcoin, the latest brainchild from OpenAI’s CEO, presents itself as an ambitious reach for crypto adoption. The project’s mission to create a “more human economic system” in the face of AI progress through crypto sounds great in theory — until you get around to how it wants to achieve that goal. 

Worldcoin’s dystopian vision of retina-scanning, total economic centralization and technocratic solutions to the real threat of AI job replacement has rightfully set off a tidal wave of criticism and regulatory scrutiny around its invasive privacy and security implications.

On top of simply being creepy, Worldcoin’s rollout completely subverts crypto’s ideological foundation of being private, decentralized and secure. It asks users to give away control to a “trusted” agent outside the scope of a government while jettisoning individual, peer-to-peer ownership — essentially stepping toward digital authoritarianism. Worldcoin’s potential scale, however, does track with crypto’s original vision of being an alternative to the traditional financial ecosystem, born out of the 2008 banking crisis.

But substituting grandiosity for functionality isn’t the most effective way to win over new audiences — particularly when biometrics are involved. Sam Altman isn’t wrong about wanting to make crypto ubiquitous, but builders on the frontline of blockchain development shouldn’t be following in Worldcoin’s footsteps to reach that precipice.

https://blockworks.co/news/worldcoin-crypto-mainstream

Property arises naturally, through labour (transformation of matter) and through the peaceful exchange of individuals. It is a foundational concept that enables human action by allowing individuals to satisfy needs and navigate uncertainty. This results in resources being used most efficiently as individuals who own them have a strong interest in doing so. In contrast, the need for a legal definition of property by a central authority such as the state may result in resources being controlled by individuals who do not have a strong interest in using them effectively. This can lead to inefficiencies and abuse, as we can observe worldwide.

https://bitcoinmagazine.com/culture/bitcoin-is-a-possession-not-property

Bitcoin is a Possession, not Property💡

I see, this past few days I was encouraged a lot of compact ideas here at SN⚡

I was wondering that it was something that I didn't fully trusted, due to lack of knowledge about it I was thinking that it is just like other scheme online that possibly can lure your attention and suddenly you will got scam but that perspective of mine, was starting to change when I was starting to watch videos on youtube and completely change when I proved that Bitcoin was really exist at some point.

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Should We Embrace Crypto?

Just a beginner who wants and interested to have beautiful journey here at SN😊💡

Regulating the unregulated cryptocurrency market

A lot of people nowadays still have not enough conscious to determine what really their ego defeat the good deed, slave of undisciplined self, and having a steady point of view.

Apparently we are all not perfect and some aspect of life a lot of people exposing their pride as if that they are perfect, something was smells toxicity but then it's their behavior after all and they are still responsible for its outcome in the future😀

A lot of people, still blinded inside 👌

Thinking about receiving of any currency or asset while using a global open source in a way of spending Bitcoin as to the kind of permissionless network is such fantastic. Digitizing or what we called Bicoinizing a local dollar it is easy for us to hold and enable millions or billions of assets. The Bitcoin itself can easily and directly invoice from dollar without possible risk along the way, anybody can act as node to their own transaction without the intervention or confirmation from centralized network such banks. 

What do you think guys? Is anybody can add some opinion in comsec area I'm glad if there is😀