Bitcoin

Sound money

sound/hard money is money that it is a good store of value, it does not suffer with inflation, and it can’t be easily made

proof of work is about creating a decentralised timestamp server, where you know the order of events

it is about time.

A bitcoin transaction can be made of many inputs and many outputs

an input is a uxto (unspendable transactions)

so if you have 10btc and you wanna transfer 1btc to someone, you generate 2 outputs, as the other one will be your “pocket” change

block explorer is like the index for the blockchain

info about a transaction

info about a transaction block (a block contains many transactions)

a coinbase in the first transaction of a new block that represents the fee of the miner

proof of work is just finding the correct nonce that generate the 2 sha256 hash with many 0 at first.

bitcoin script let you program bitcoin

multisig like 2-3 let 2 of 3 diginal signatures spend the transactions

lighthing network make it possible many transactions of chain

send a transaction with some value to bitcoin (multi sig), like 1 btc

after the offchain transaction is settle up, you commit a new transaction with refund based on other transactions.

payment channel.

bitcoin is like gold

gold is not good to handle payments

new generation of crypto, ethereum, smart contract, dai, nano.

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