Tag: bitcoin technology

Aug 21 2021

Watch Jack Mallers Send “Free, Instant, Non-Reversible” $10 To Nigeria

We might be witnessing “monetary history,” as Jack Mallers claims. The Strike CEO connected with African app Bitnob and sent $10 to Nigeria. Since Bitnob is connected to the Nigerian banking system, the money was instantly available in Naria (NGN.) It’s worth noting that Strike and Bitnob have no commercial relationship, their apps are...

Aug 20 2021

A Bitcoin Maximalist’s Harsh Criticism Of The Lightning Network

The Lightning Network is the main reason Bitcoin is legal in El Salvador. The main chain couldn’t serve a whole country without a fast and reliable payment channel built on top of it. It’s as simple as that. However, is the Lightning Network invulnerable to attacks? Is its architecture as bulletproof as Bitcoin’s main network? Not according to technical expert Shinobi, who qualifies...

Aug 04 2021

BTC + The Lightning Network ’s Energy Consumption Vs. The World, A Comparison

Let’s admit it, the narrative around Bitcoin’s energy consumption really hurt the movement for a while there. The Lightning Network fixes this. Was the narrative warranted? Absolutely not. However, we still need to address it. And the Lightning Network proves to be a powerful tool to do so. As the miners leave China in search of cheap energy, and Bitcoin Beach in El...

Aug 03 2021

Lightning Network 101: How And Why It Works

It’s all about the Lightning Network in Bitcoin land. This decentralized micropayments system unlocked Bitcoin’s scalability problem and unleashed the possibility of hyperbitcoinization into the world. Not only that, since this Layer 2 solution was created with the Bitcoin ethos in mind, it offers similar security guarantees. It all runs over the Bitcoin blockchain, even though it only touches it for final settlement....

Jul 12 2021

That JPMorgan Report On El Salvador Doesn’t Even Mention The Lightning Network

How embarrassing! As more details about JPMorgan ’s “The Bitcoinization of El Salvador” report come to light, the reality of the situation settles. Traditional organizations don’t have a clue that the Lightning Network exists and is up and running. More so, Bitcoin is legal tender in El Salvador because and only because El Zonte is a living and breathing example of the Lightning...

Jul 06 2021

An Answer To Wired’s Hit Piece On Bitcoin And El Salvador

Once upon a time, Wired was a staple of cutting-edge-technologic culture. Their name carried weight. Their journalism was a sight to behold. Then, global media company Condé Nast bought the magazine. It immediately devalued the brand, but that wasn’t the real damage. Their texts disappeared from public consciousness. Nobody cared about what Wired had to say anymore. And now, we know...

Jun 06 2021

Day TWO: Key Quotes And Ideas From Of The Bitcoin 2021 Conference In Miami

The Bitcoin 2021 conference is over. The lessons remain. This time, they turned off the livestream’s chat. An elegant solution. A wasted opportunity, the virtual community couldn’t gather around the fire. But hey… much better than watching robots pushing low-quality projects non-stop. And it was easier to focus on the presenter’s words. Still, it felt like something was amiss....

Jan 15 2021

Rapidly Growing Bitcoin of America Expands Its Territory Into Tennessee

Bitcoin is the first and a truly peer-to-peer, decentralized cryptocurrency. Part of what imparts Bitcoin and its underlying network value is the fact that anyone in the world can buy/own it, trade, and transact with it without the need for a third-party intermediary. As the Bitcoin FOMO is sweeping the globe once again, everyone wants a piece of the ultra-scarce digital...

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