https://reardon.torrdex.com/en/blog/bitcoin/ Recent content in Bitcoin on Reardon Hugo -- gohugo.io en-US Copyright © 2021, Reardon Yang. Wed, 09 Feb 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-017-all-that-splendour-of-bloom-surrendered-to-a-nirvana-beyond-reach/ Wed, 09 Feb 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-017-all-that-splendour-of-bloom-surrendered-to-a-nirvana-beyond-reach/ The chance of cracking a Bitcoin private key is almost zero. If you had the ability to crack Bitcoin private keys, the big banks and confidential government and corporate data would be yours for the taking, as easy as reaching into a bag. Historically, exchange bitcoin thefts have always been due to poor wallet management, or insiders doing evil — guards stealing from their own vault. Observations from the Spring Festival: one great use of cash is stuffing red envelopes, giving lucky money. https://reardon.torrdex.com/en/bitcoin-talk-016-a-healthy-ecology-does-not-eliminate-evil-good-and-evil-coexist-with-good-the-greater/ Wed, 02 Feb 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-016-a-healthy-ecology-does-not-eliminate-evil-good-and-evil-coexist-with-good-the-greater/ Over the New Year at home, assign yourself a task: explain Bitcoin to your family and friends, spread the thought of Satoshi. Let more people join this decentralised social experiment. If you are sitting at a banquet, or about to attend one, ask the person to your left and right whether they have heard of Bitcoin, whether they have friends buying Bitcoin. If he doesn’t understand Bitcoin, explain it to him in the simplest words. https://reardon.torrdex.com/en/bitcoin-halving-schedule/ Thu, 27 Jan 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-halving-schedule/ Every 210,000 blocks Bitcoin produces (roughly four years), the block reward is cut in half. Starting from 50 BTC at the genesis block in 2009, after 33 halvings the reward reaches zero around 2140, and the total supply of bitcoin ultimately converges on 21 million coins. Block reward halving curve (the vertical axis is on a logarithmic scale; orange dots mark the halving points) Year Halving Block Reward (BTC) Notes 2009 Genesis Block 50 2012 1 25 2012-11-28 · Block 210,000 2016 2 12. https://reardon.torrdex.com/en/bitcoin-talk-015-steamed-buns-and-pickles-to-improve-life-bitcoin-to-save/ Wed, 26 Jan 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-015-steamed-buns-and-pickles-to-improve-life-bitcoin-to-save/ As a trader, if you pay too much attention to the macro picture, it may cloud your judgment. And if you are a hodler who pays too much attention to short-term swings, your judgment will suffer just the same. A hodler does not wait for the best position; a hodler keeps buying. A hodler has only one move — “buy” — so a hodler’s advice does not suit a trader. https://reardon.torrdex.com/en/bitcoin-talk-014-bitcoin-serves-no-special-interest-but-that-of-the-working-class-and-the-broadest-masses/ Tue, 25 Jan 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-014-bitcoin-serves-no-special-interest-but-that-of-the-working-class-and-the-broadest-masses/ Buying and holding Bitcoin is the most beautiful thing in this world. If the price falls, you can buy more cheap Bitcoin; if the price rises, you can go on profiting from the corruption of the central banks, and win while lying down. El Salvador, a small Central American country of only 6.5 million people, became the first country in the world to make Bitcoin legal tender last September. Now this earliest sovereign state to embrace Bitcoin is bringing endless hope to the people of a land long suffering under financial hegemony. https://reardon.torrdex.com/en/bitcoin-talk-013-those-who-hold-enough-wealth-must-also-be-able-to-carry-enough-debt/ Sun, 16 Jan 2022 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-013-those-who-hold-enough-wealth-must-also-be-able-to-carry-enough-debt/ As Bitcoin fell all the way from 69K to 43K, if someone kept urging you to buy the dip, remember his name. Forgive him — but remember him. Holding Bitcoin is painful more than 90% of the time, and comfortable less than 10% of the time. Perhaps that is the price of freedom. The essence of P2P is the vast ocean of a people’s war. On a cryptocurrency exchange, on the surface it may look like nothing but small retail traders providing all the liquidity — the great hermit hides in the marketplace. https://reardon.torrdex.com/en/bitcoin-talk-012-fiat-rests-on-violence-bitcoin-rests-on-hash-power/ Mon, 13 Dec 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-012-fiat-rests-on-violence-bitcoin-rests-on-hash-power/ How do you ease or eliminate a Ponzi scheme? The answer: create another Ponzi scheme. Beneath fiat lies violence; beneath Bitcoin lies hash power. If you monopolise violence, you monopolise fiat. If you monopolise hash power, you monopolise Bitcoin! If heaven has a gambling table, it must look like cryptocurrency. The wealth of the world today (of the body, of material things, of the spirit) is more evenly shared than at any time in history. https://reardon.torrdex.com/en/losing-and-recovering-my-bitcoin/ Sat, 20 Nov 2021 00:00:00 +0000 https://reardon.torrdex.com/en/losing-and-recovering-my-bitcoin/ This episode of losing and recovering my Bitcoin lasted about a month in total, from the evening of October 26, 2021, to this afternoon (November 20, 2021) at three o’clock. The main reason I lost the coins was that I used a 500 GB hard drive, which was not enough to store the current Bitcoin full node. First, following Umbrel’s official tutorial, I installed Umbrel on a Raspberry Pi and correctly backed up the private key. https://reardon.torrdex.com/en/bitcoin-talk-011-keep-at-least-one-bitcoin-in-the-market-and-a-month-of-steamed-bun-money-outside-it/ Thu, 04 Nov 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-011-keep-at-least-one-bitcoin-in-the-market-and-a-month-of-steamed-bun-money-outside-it/ Many years from now, people will look back on those distant years when Bitcoin was regarded as a Ponzi scheme — and could still be owned by ordinary people! Even if only 2% of the new leeks settle in and stay, that is a massive number. Once a leek brings money in, they are infected by digital currency; even after a beating, they keep coming back for more, undeterred. And the infected will infect newcomers in turn, bringing in wave after wave of new leeks. https://reardon.torrdex.com/en/bitcoin-talk-010-bitcoins-most-mature-use-case-is-fleecing-the-newcomers/ Wed, 03 Nov 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-010-bitcoins-most-mature-use-case-is-fleecing-the-newcomers/ When might Bitcoin accidentally hurt you? Only when you hold enough fiat and enough shitcoins! Every time Bitcoin and the cryptocurrencies fall, it is because those who have finished fleecing the newcomers are discarding their tools, cashing out and leaving the scene; at such moments the price naturally takes a discount. The sickle is still the same sickle — the question is whether you’ll pick it up, and whether you have the stomach to harvest other people’s leeks with it. https://reardon.torrdex.com/en/bitcoin-talk-009-globalisation-only-truly-breaks-open-with-blockchain/ Tue, 02 Nov 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-009-globalisation-only-truly-breaks-open-with-blockchain/ Globalisation only truly starts to break open when it reaches blockchain. In Jack Ma’s words: using business and economic logic to supersede the globalisation of the classical age, the globalisation of cultural exchange and political exchange. In essence, cryptocurrency exchanges exist mainly to solve compliance problems — the on- and off-ramp problems while fiat’s corpse still retains some warmth. Once the fiat corpse is cold, the so-called centralised exchanges of today will have no reason to exist: a smart contract on a blockchain settles it. https://reardon.torrdex.com/en/bitcoin-talk-008-i-worry-for-the-federal-reserve/ Mon, 01 Nov 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-008-i-worry-for-the-federal-reserve/ On the tenth anniversary of the Bitcoin white paper, I just want to say: I worry for the Federal Reserve, I worry for the People's Bank of China, I worry for the Central Bank of Russia, I worry for the Bank of Japan, I worry for the Bank of England, I worry for the Banque de France, I worry for the Deutsche Bundesbank, I worry for the Reserve Bank of India, I worry for the State Bank of Vietnam, I worry for the National Bank of Cambodia, I worry for the Bank of the Lao PDR, I worry for the Bank of Thailand, I worry for the Central Bank of Myanmar, I worry for the Bangko Sentral ng Pilipinas, I worry for Brunei's central bank, I worry for Bank Negara Malaysia, I worry for the Monetary Authority of Singapore, I worry for Bank Indonesia, I worry for the Central Bank of Timor-Leste, I worry for Nepal Rastra Bank, I worry for the Royal Monetary Authority of Bhutan, I worry for the State Bank of Pakistan, I worry for the Reserve Bank of India, I worry for Bangladesh Bank, I worry for the Maldives Monetary Authority, I worry for the Central Bank of Sri Lanka, a worry for the National Bank of Kazakhstan, I worry for the National Bank of the Kyrgyz Republic, I worry for the National Bank of Tajikistan, I worry for the Central Bank of Uzbekistan, I worry for the Central Bank of Turkmenistan, I worry for the Bank of England, I worry for the Central Bank of Ireland, I worry for the Banque de France, I worry for Monaco's central bank, I worry for De Nederlandsche Bank, I worry for the National Bank of Belgium, I worry for the Central Bank of Luxembourg… https://reardon.torrdex.com/en/the-quotable-satoshi/ Mon, 01 Nov 2021 00:00:00 +0000 https://reardon.torrdex.com/en/the-quotable-satoshi/ (₿ ᴥ ₿) “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.”— Satoshi Nakamoto “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.”— Satoshi Nakamoto (₿ ᴥ ₿) “I’m sure that in 20 years, (Bitcoin’s) transaction volume will either be very large, or there will be none at all. https://reardon.torrdex.com/en/bitcoin-talk-007-how-many-coins-must-you-buy-to-live-this-life-in-peace/ Sun, 31 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-007-how-many-coins-must-you-buy-to-live-this-life-in-peace/ The skulls of shitcoin holders are the sturdiest of all: even under tremendous pressure they survive perfectly well, and can even play golf for 24 hours straight. Bitcoin will replace the stock market as the barometer of the economy. Renminbi and US dollars are both trash coins. The more you hold, the greater the danger! Every WeChat peddler, every fruit farmer in southern Jiangxi, should embrace the future and accept payment in cryptocurrency. https://reardon.torrdex.com/en/building-a-bitcoin-node-with-umbrel/ Sun, 31 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/building-a-bitcoin-node-with-umbrel/ ─=≡Σ( つ₿ ω ₿)つThe picture below shows what it looks like once set up: Note: There are many ways to build a Bitcoin node. This tutorial uses the Raspberry Pi + Umbrel approach, which has no technical barrier whatsoever. This approach has many advantages, including being sufficiently independent, energy-saving, stable, and secure, with complete self-control of your data and a beautiful interface (a visual interface). It is also extremely fun to tinker with: Umbrel provides a Bitcoin app store offering all kinds of apps such as the Lightning Network and blockchain explorers, greatly lowering the barrier for ordinary users to enter the Bitcoin ecosystem. https://reardon.torrdex.com/en/bitcoin-is-time/ Thu, 28 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-is-time/ Reprinted from: Bitcoin Is Time A luminary clock hung high in the sky, proclaiming that time was neither wrong nor right. — Robert Frost, “Acquainted with the Night” (1928) We still have not fathomed the great mystery that is time. Time is only a concept; we do not even know whether it really exists… — Clifford D. Simak, “Shakespeare’s Planet” (1976) As the saying goes, time is money. Conversely, money is also time: time is all the economic energy stored within the human body. https://reardon.torrdex.com/en/bitcoin-talk-006-in-crypto-be-a-good-person-hold-good-coins-and-good-will-come/ Thu, 28 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-006-in-crypto-be-a-good-person-hold-good-coins-and-good-will-come/ In crypto, be a good person, hold good coins, and good will come to you. The big pie is hard currency; all other coins are stand-ins conjured out of it, here to ferry all beings to salvation. Dig as many cesspits as you like to stockpile shit — in the end it’s still for fertilising the crops. Hunt as many pig, dog and cat coins as you like — in the end it’s only to exchange them for a bit of the big pie. https://reardon.torrdex.com/en/websites-the-crypto-industry-actually-uses/ Thu, 28 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/websites-the-crypto-industry-actually-uses/ ₿ Content continuously updated… ✔️ CoinMarketCap About: Look up the rankings, market caps, prices and detailed information of all kinds of cryptocurrencies and assets. Website: coinmarketcap.com -₿-₿-₿-₿-₿-₿-₿-₿-₿-₿- ✔️ BlockChair About: A blockchain search and analytics engine for Bitcoin, Dogecoin, Ethereum, Litecoin, Cardano, Stellar, EOS, Monero, Tezos, Dash, Zcash and other digital currencies. Filter and sort blocks, transactions and their contents to your own needs, and run full-text searches over blockchain content. https://reardon.torrdex.com/en/bitcoin-talk-005-shib-pushes-crypto-toward-the-postmodern-toward-nihilism/ Wed, 27 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-005-shib-pushes-crypto-toward-the-postmodern-toward-nihilism/ Many people look at this gaudy pile of coins and assume that Bitcoin and this heap of “Special Coins, Water Coins, At Coins” differ only in name — they all have the word “coin” in them, after all. In fact, their difference from Bitcoin may be greater than the difference between an iPhone and a paramecium. The SHIB crowd is filled with carnival and ecstasy; SHIB pushes crypto toward the postmodern, toward nihilism. https://reardon.torrdex.com/en/bitcoin-talk-004-shibs-sociological-significance-lies-in-its-disenchantment/ Tue, 26 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-004-shibs-sociological-significance-lies-in-its-disenchantment/ SHIB’s sociological significance lies in its disenchantment — in puncturing the pretence of all those who are busy for the sake of being busy, diligent for the sake of being diligent, striving for the sake of striving. Drunk, we sing; how short life is. What cures sorrow? Only sudden wealth. SHIB: a lump of pure, clean air, free of all vulgar interests. Behind all these coins, SHIB included, there is in fact a very dangerous logic: the transfer of the right to mint money. https://reardon.torrdex.com/en/bitcoin-talk-003-satoshi-doesnt-mind-being-misread/ Mon, 18 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-003-satoshi-doesnt-mind-being-misread/ Satoshi doesn’t mind being misread, just as Confucius didn’t. Confucius wasn’t afraid of being misread either — he had three thousand disciples, seventy-two of them accomplished. Are we to believe there wasn’t a single rotter among those seventy-two, or that every one of them understood and carried out Confucius’s thought one hundred percent? Even Craig Wright and Jihan Wu are spreading Satoshi’s ideas according to their own understanding of the white paper. https://reardon.torrdex.com/en/bitcoin-talk-002-of-all-the-ponzi-schemes-bitcoin-is-the-best/ Sun, 17 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-002-of-all-the-ponzi-schemes-bitcoin-is-the-best/ Getting fleeced trading crypto is like being tonsured and taking the precepts: worldly cares severed, attachments laid to rest. Of all the Ponzi schemes, Bitcoin is the best one. In China, Bitcoin counts as a virtual asset. You can’t trade it, but you can obtain and hold it by other means. Say you spread Chinese culture on some overseas platform, chat in Chinese with foreign friends, and you might receive a token of their gratitude — or you might tip others. https://reardon.torrdex.com/en/quit-trading-coins-a-step-by-step-guide-to-issuing-your-own-token/ Sun, 17 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/quit-trading-coins-a-step-by-step-guide-to-issuing-your-own-token/ This tutorial is based on the ERC-20 protocol in the Ethereum ecosystem and requires no programming skills whatsoever This tutorial is only for friends with a relatively weak foundation in computers; experts, please move along For all links in this article, please right-click and choose “Open in new window” Issuing your own virtual coin / virtual asset / private currency / ERC-20 token (collectively referred to below as a “token”), as described in this article, requires the following steps: https://reardon.torrdex.com/en/bitcoin-talk-001-maotai-you-can-drink-and-a-pie-you-cant-eat/ Sat, 16 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-talk-001-maotai-you-can-drink-and-a-pie-you-cant-eat/ Maotai you can drink, and a pie you can’t eat — many people don’t know how to choose between them. The US dollar has lost 99% of its value since the last century. Once, 35 dollars bought an ounce of gold; today an ounce of gold costs 1,833 dollars. If the dollar swings this wildly and can still serve as money, that proves volatility has no necessary connection to whether something can be money. https://reardon.torrdex.com/en/chinese-regulators-cryptocurrency-policies-a-summary/ Fri, 15 Oct 2021 00:00:00 +0000 https://reardon.torrdex.com/en/chinese-regulators-cryptocurrency-policies-a-summary/ ₿ Continuously updated… 24 September 2021 💣 A PBOC official answers reporters’ questions on the Notice on Further Preventing and Disposing of the Risks of Virtual Currency Trading Speculation 21 June 2021 💣 The PBOC summons several banks and payment institutions over virtual currency trading speculation 21 May 2021 💣 Liu He chairs the 51st meeting of the Financial Stability and Development Committee of the State Council 22 November 2019 💣 Stepping up regulatory prevention and control to crack down on virtual currency trading 24 August 2018 💣 Risk warning on illegal fundraising in the name of “virtual currency” and “blockchain” 9 October 2017 💣 Which country is Bitcoin from? https://reardon.torrdex.com/en/bitcoin-micro-fiction-004-we-have-the-freedom-not-to-use-bitcoin/ Sat, 31 Oct 2020 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-micro-fiction-004-we-have-the-freedom-not-to-use-bitcoin/ Administrator from the Imperial Center — Lord Siyanien, as long as we all keep believing, as long as we keep using your long-abandoned imperial legal currency — the Earthollar, you will find in us those traits you despise; you think us stupid, stubborn, easily incited. But we hate bitcoin, just as you hate the Earthollar; we hate smart contracts, we hate everything digital; we are close to the soil, the trees, the rivers. https://reardon.torrdex.com/en/bitcoin-micro-fiction-003-the-earth-communitys-bitcoin-standing-council-is-announced/ Wed, 30 Sep 2020 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-micro-fiction-003-the-earth-communitys-bitcoin-standing-council-is-announced/ On June 21, 3145 AD, the “Earth Community Bitcoin Standing Council” was announced as established, with the unanimous approval of all member councils. On the day of its founding, the council officially released Bitcoin Core version 15.23.0, which updates the quantum-resistant encryption algorithm BAQ-2048, improves support for brain-link smart contracts, and enables digital asset interaction with the Intelli-envir “Wisdom Realm” artificial intelligence, triggered by sharper vision, hearing, and muscle movement. https://reardon.torrdex.com/en/bitcoin-micro-fiction-002-power-outage-at-the-east-pacific-smart-contract-federations-bitcoin-hash-power-bureau/ Sat, 23 Nov 2019 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-micro-fiction-002-power-outage-at-the-east-pacific-smart-contract-federations-bitcoin-hash-power-bureau/ On December 11, 3140 AD, a power outage occurred at the Bitcoin Hash Power Bureau of the East Pacific Smart Contract Federation. That day happened to be exactly 1,000 years after the last bitcoin was mined. The blackout lasted a full 7 hours, costing miners worldwide 24 BTC in lost bookkeeping revenue — 3% of the annual GDP of the West Pacific Feudal United Community. Investigations found that the outage was caused by a hacker attack on the smart contract of the Entropy China Interstellar Power Dispatch System. https://reardon.torrdex.com/en/bitcoin-micro-fiction-001-a-100-yuan-note-auctioned-for-one-bitcoin/ Fri, 22 Nov 2019 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-micro-fiction-001-a-100-yuan-note-auctioned-for-one-bitcoin/ On November 22, 9120 AD, at the Cultural Relics Auction of the Guangdong-Hong Kong Prefecture, West Pacific Communist United Community, a 100-yuan note printed on November 22, 2019 fetched the staggering price of one bitcoin, leaving everyone present in amazement. It was only then that people understood: the renminbi is a work of art, a symbol of human wisdom, while bitcoin is merely the most ordinary of digital assets! https://reardon.torrdex.com/en/bitcoin-a-peer-to-peer-electronic-cash-system/ Fri, 31 Oct 2008 00:00:00 +0000 https://reardon.torrdex.com/en/bitcoin-a-peer-to-peer-electronic-cash-system/ The Bitcoin White Paper, Page by Page (9 Pages in Total) — Page 1 — — Page 2 — — Page 3 — — Page 4 — — Page 5 — — Page 6 — — Page 7 — — Page 8 — — Page 9 —