Wisdom And Wonder

BIP stands for Bitcoin Improvement Proposal. A BIP is a design document providing information to the Bitcoin community, or describing a new feature for Bitcoin or its processes or environment. The BIP should provide a concise technical specification of the feature and a rationale for the feature.

We intend BIPs to be the primary mechanisms for proposing new features, for collecting community input on an issue, and for documenting the design decisions that have gone into Bitcoin.

When the 51% vote it so then it is made it so.

Additionally, every I can do it better than Bitcoin! crypto needs to do better those BIPs, and every new one that comes after that.

That might take a while, if ever.

Satoshi left a secret message in Bitcoin’s first transaction:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

It refers to this article in The Sunday Times. The point is to prove that the chain was created at least by that date. It’s also a tongue-in-cheek joke about the nature of currency and how governments manage it. You don’t have to take my word for it, though. Here is how to find it yourself albeit using the Bitcoin GUI instead of the command-line interface.

Continue reading “How to find the secret message in Bitcoin’s first transaction?”

All of these characteristics must be true (MEMORIZE THEM):

• R = Revolutionary
• I = Immutable
• P = Public
• C = Collaborative
• O = Open
• R = Resistant to Censorship
• D = Decentralized

If a single one of them isn’t true than it isn’t a cryptocurrency.

Bitcoin is RIPCORD compliant!

Out of the box, you can only look up a transaction by its index when the transaction is associated with a wallet you own. This optimization makes sense from an efficiency perspective because should you waste disk space on transactions that aren’t your own? That is a good point, but you don’t save much space.

Continue reading “Be sure to set up your Bitcoin node with the full transaction index!”