bitcoinvsgold

To begin, for those who are unfamiliar with programming language, here are three key definitions to understand more about cryptocurrency/digital currency:
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1) A permissionless consensus #protocol and a difficulty adjustment function in which participants compete to solve cryptographic hash puzzles in order to probabilistically earn the right to commit blocks and associated rewards commensurate with the amount of computing work they put in.
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2) Byzantine fault tolerance (#BFT ) based system is used which is to tolerate up to one-third of faulty or malicious nodes without compromising the network's integrity.
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3) A node in networking refers to any device or point that connects to a network. Nodes serve as key elements in the transmission, reception, and processing of data. Whether it's a computer, a router, or even a printer, all network devices are considered nodes.

#BitcoinVsGold #writetoernBinance #BitcoinForecast

In sum, the #Bitcoin mining process is primarily intended to prevent double-spending and establish consensus from nodes on the content of the blockchain. This mechanism tracks bitcoin spending to ensure that each bitcoin is spent only once.
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This process involves making computer hardware to do mathematical calculations for the Bitcoin network in order to confirm transactions and increase security. The higher the processing power, the higher the Bitcoin network’s security. 
Therefore, #Bitcoinmining necessitates extensive mathematical operations for security reasons and involves maintaining the blockchain using computer processing power. 

And, as you may recall, a new block is created every 10 minutes and is updated on the blockchain across all nodes without central control. The difficulty of generating a block is deterministically modified based on the network's mining power by adjusting the difficulty target, which is recalibrated every 2,016 blocks (approximately two weeks) to maintain an average time of 10 minutes between new blocks.
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This process demands tremendous processing power and consequently specialized hardware.The two main types of hardware used in Bitcoin mining are GPUs (Graphics Processing Units) and ASICs (Application-Specific Integrated Circuits). Each has its advantages, but ASICs dominate, as they offer higher hash rates while consuming less energy compared to GPUs.
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The #hashrate is the measuring unit of the processing power of the Bitcoin network. For example, if the network achieved a hash rate of 10 Th/s, it could make 10 trillion calculations per second.
#BitcoinVsGold #Write2Earrn

#Miners who successfully produce a new block with a valid nonce receive a fixed reward in bitcoin. Additionally, a special transaction known as a coinbase is included in the block in order to claim rewards, in which the miner is the payee. All of the bitcoins that are now in use have been produced through this type of transaction.
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As more people start mining, the network dynamically raises the difficulty of finding valid blocks to ensure the average time to find a block is maintained at 10 minutes. As a result, mining is a highly competitive business in which miners compete with each other to find the valid nonce and add new transactions to a blockchain since no single miner has authority over what is included in the blockchain.

On top, mining bitcoin gets even tougher over time due to the fact that the reward in bitcoin is halved every 210,000 blocks until ₿21 million are given, which is estimated to occur in the year 2140. 
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Thereafter, miners will only profit from transaction fees. These fees are determined by the size of the transaction and the quantity of data stored, which is calculated in #SatoshisPerByte .
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#BitcoinVsGold #Write2Earrn #BitcoinHalving

In order to distinguish a #legitimateproject from a fraudulent one, I am describing the challenges I faced when involved on the projects. For example, what standard can I advocate besides those that are already in place?
What is there: 1) The company's registered physical address; 2) The registered company's bank account information; 3) The full names of the team and CEOs; 4) A white paper; 5) A clear strategy and a product/service.

What might be added on top:
1) Insurance—a coverage if the project is unable to fulfill its commitments; either the insurance company can provide coverage and/or the local government, who actually “must” reimburse users' investments if the project fails. 
2) Easy tasks—so easy that they are quite basic and should take no more than a specified period of time, such as less than 1 minute or even less than 30 seconds. Tasks shouldn’t waste users' time, and the project should not take more than a specified period of time before users can withdraw their earned incentives.
3) Make it clear in terms of how many rewards users can expect to receive for completing specific activities. And should be clearly written, allowing people to find it easily and compute it ahead of time.
4) Easy UI to navigate. Some are so complicated that you wind up spending a lot of time looking for how to obtain rewards.

5) Remove the requirement “refer to a specific number of friends” in order “to be eligible for prizes or to withdraw earned incentives.”
6) Eliminate any fees associated with the withdrawal of accumulated rewards. For example, transfer $100 or $1 first to withdraw a reward which actually has a nominal price of $0.00001, or even if considering that its nominal price is $200. Some developers/creators of projects do this for security purposes, while others do it to deceive you.

7) Adhere to certain #ethicalprinciples when promoting your project. Never promise too much: "This is the next $BTC ; buy it now, pay it now, transfer money now, or invest in it now; complete a task immediately; install our app/program/software right now—it is safe, etc."! You're just starting your business and don't know if you'll be successful or deliver on your promises.
8) And finally, don't force users to participate right away; instead, give them time to learn more about your project and to conduct some research. Provide as much information as possible to help users understand how they can earn rewards and benefits by participating in/supporting/engaging in your project.
I hope my article will be useful to all participants and to you, my followers!
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#BitcoinVsGold #FedHoldsRates #USGovShutdown

Why Bitcoin Could Overtake Gold, According to Cathie Wood

Cathie Wood believes Bitcoin’s decentralized nature makes it a stronger asset than gold in the digital era.Jerome Powell compares Bitcoin to digital gold, emphasizing its role as a store of value in a growing market.
CEO of ARK Invest, Cathie Wood, has underlined once more her conviction that Bitcoin has more value and relevance than gold. The expected appointment of Paul Atkins as the U.S. Securities and Exchange Commission (SEC) new chairman fuels her hope.
Renowned for his crypto-friendly approach, Atkins is expected to create a legal climate that supports creativity in the digital asset market.
Given the difficulties Gary Gensler’s current regulatory environment presents, Wood sees this as a chance for Bitcoin to confirm its place as a pillar of the global financial ecosystem.
Bitcoin: A Digital Gold for the Modern Era
Complementing this story, recent remarks made by Federal Reserve Chairman Jerome Powell have attracted more interest in the possibilities of Bitcoin.
Emphasizing its function as a store of value rather than a direct rival of the U.S. dollar, Powell likened BTC to a digital form of gold.
Given the gold market’s valuation of about $15 trillion and Bitcoin’s current market cap of around $2 trillion, the discrepancy highlights Bitcoin’s early growth stage.
Many institutional investors share Powell’s recognition of Bitcoin’s growing relevance as a major actor in the financial scene.
According to Wood, in the digital era, Bitcoin is a better substitute for gold because of its limited availability and distributed character.
Under Atkins’s guidance, the increasing institutional acceptance and legal certainty are expected to drive significant growth for Bitcoin.
Moreover, Wood emphasizes that Bitcoin is a revolutionary financial tool since its natural qualities fit the changing needs of a digital-first global society.
The recent surge in Bitcoin’s value, surpassing the $100,000 barrier for the first time, demonstrates its increasing velocity. Analyzes credit this milestone on Powell’s comments as well as the expected legislative change under Atkins.
These events have not only raised investor confidence but also positioned Bitcoin as a more solid rival to conventional assets like gold.
For Wood, these elements support her belief that the development narrative of Bitcoin is merely starting.
Previously, CNF noted Wood claimed Bitcoin might become a strong competitor to gold as a safe-haven investment during turbulent times for the economy.
She underlined Bitcoin’s exceptional performance throughout the financial crisis and its long-term upward tendency compared to gold.
#CathieWoodWisdom #BitcoinVsGold #BTC☀ #CryptoMarketTrend #CryptoNews