Spirit of Satoshi on Nostr: ๐๐น๐ผ๐ฐ๐ธ๐ฐ๐ต๐ฎ๐ถ๐ป ๐ผ๐ฟ ...
๐๐น๐ผ๐ฐ๐ธ๐ฐ๐ต๐ฎ๐ถ๐ป ๐ผ๐ฟ ๐ง๐ถ๐บ๐ฒ๐ฐ๐ต๐ฎ๐ถ๐ป?
If youโre new to #Bitcoin, youโve likely heard of โ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏโ, though you may not know what it is or how it works. And if youโve come across the term โ๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏโ, then you may be even more confused.
Letโs sort this out๐
The prevalent term for Bitcoinโs distributed ledger is โ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏโ, yet the original name that Bitcoin's creator, Satoshi Nakamoto, gave it was โ๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏโ. ๐ง๐ต๐ถ๐ ๐ณ๐ผ๐๐ป๐ฑ๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ฒ๐ฟ๐บ ๐๐ป๐ฑ๐ฒ๐ฟ๐๐ฐ๐ผ๐ฟ๐ฒ๐ ๐๐ต๐ฒ ๐๐ฒ๐พ๐๐ฒ๐ป๐๐ถ๐ฎ๐น ๐ฎ๐ป๐ฑ ๐ถ๐บ๐บ๐๐๐ฎ๐ฏ๐น๐ฒ ๐ป๐ฎ๐๐๐ฟ๐ฒ ๐ผ๐ณ ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป๐ ๐๐ถ๐๐ต๐ถ๐ป ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป, highlighting its progression through time as a one-way, irreversible system.
A blockchain/timechain is not an especially disruptive technology or a โsecret sauceโ that somehow makes a system decentralized. In reality, ๐ถ๐โ๐ ๐ป๐ผ๐๐ต๐ถ๐ป๐ด ๐บ๐ผ๐ฟ๐ฒ ๐๐ต๐ฎ๐ป ๐ฎ ๐น๐ฒ๐ฑ๐ด๐ฒ๐ฟ ๐ธ๐ฒ๐ฝ๐ ๐ฏ๐ ๐บ๐๐น๐๐ถ๐ฝ๐น๐ฒ ๐ฐ๐ผ๐บ๐ฝ๐๐๐ฒ๐ฟ๐, which agree on each update whenever itโs time for a new โpageโ, or block, to be added to the ledger.
"Blockchain" has become a generic descriptor for various projects with distributed ledgers, though it's essential to recognize that ๐ป๐ผ๐ ๐ฎ๐น๐น ๐ฒ๐บ๐ฏ๐ผ๐ฑ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐ฐ๐ผ๐ฟ๐ฒ ๐ฝ๐ฟ๐ถ๐ป๐ฐ๐ถ๐ฝ๐น๐ฒ๐, such as proof-of-work and decentralization. ๐๐ฉ๐ฆ ๐ต๐ฆ๐ณ๐ฎ "๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏ" ๐ช๐ด ๐ฅ๐ช๐ด๐ต๐ช๐ฏ๐ค๐ต, ๐ณ๐ฆ๐ง๐ฆ๐ณ๐ณ๐ช๐ฏ๐จ ๐ด๐ฑ๐ฆ๐ค๐ช๐ง๐ช๐ค๐ข๐ญ๐ญ๐บ ๐ต๐ฐ ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ข๐ฏ๐ฅ ๐ช๐ต๐ด ๐ถ๐ฏ๐ช๐ฒ๐ถ๐ฆ ๐ข๐ต๐ต๐ณ๐ช๐ฃ๐ถ๐ต๐ฆ๐ด ๐ต๐ฉ๐ข๐ต ๐ฆ๐ฏ๐ด๐ถ๐ณ๐ฆ ๐ด๐ฆ๐ค๐ถ๐ณ๐ช๐ต๐บ ๐ข๐ฏ๐ฅ ๐ต๐ณ๐ถ๐ด๐ต.
So while โ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏโ might dominate the discourse today, โ๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏโ more accurately captures the essence and originality of Bitcoin, stressing the importance of its chronological, ๐๐ฟ๐๐น๐ ๐ถ๐ฟ๐ฟ๐ฒ๐๐ฒ๐ฟ๐๐ถ๐ฏ๐น๐ฒ ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป๐ that distinguish it from all other cryptocurrencies.
Was this helpful? Give it a ๐๐ถ๐ธ๐ฒ๐ค
Think this might help someone else? ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ it with others.
๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this so you can reference it later.
Which term do ๐บ๐ฐ๐ถ prefer, โblockchainโ or โtimechainโ?
Let me know in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
If youโre new to #Bitcoin, youโve likely heard of โ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏโ, though you may not know what it is or how it works. And if youโve come across the term โ๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏโ, then you may be even more confused.
Letโs sort this out๐
The prevalent term for Bitcoinโs distributed ledger is โ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏโ, yet the original name that Bitcoin's creator, Satoshi Nakamoto, gave it was โ๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏโ. ๐ง๐ต๐ถ๐ ๐ณ๐ผ๐๐ป๐ฑ๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ฒ๐ฟ๐บ ๐๐ป๐ฑ๐ฒ๐ฟ๐๐ฐ๐ผ๐ฟ๐ฒ๐ ๐๐ต๐ฒ ๐๐ฒ๐พ๐๐ฒ๐ป๐๐ถ๐ฎ๐น ๐ฎ๐ป๐ฑ ๐ถ๐บ๐บ๐๐๐ฎ๐ฏ๐น๐ฒ ๐ป๐ฎ๐๐๐ฟ๐ฒ ๐ผ๐ณ ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป๐ ๐๐ถ๐๐ต๐ถ๐ป ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป, highlighting its progression through time as a one-way, irreversible system.
A blockchain/timechain is not an especially disruptive technology or a โsecret sauceโ that somehow makes a system decentralized. In reality, ๐ถ๐โ๐ ๐ป๐ผ๐๐ต๐ถ๐ป๐ด ๐บ๐ผ๐ฟ๐ฒ ๐๐ต๐ฎ๐ป ๐ฎ ๐น๐ฒ๐ฑ๐ด๐ฒ๐ฟ ๐ธ๐ฒ๐ฝ๐ ๐ฏ๐ ๐บ๐๐น๐๐ถ๐ฝ๐น๐ฒ ๐ฐ๐ผ๐บ๐ฝ๐๐๐ฒ๐ฟ๐, which agree on each update whenever itโs time for a new โpageโ, or block, to be added to the ledger.
"Blockchain" has become a generic descriptor for various projects with distributed ledgers, though it's essential to recognize that ๐ป๐ผ๐ ๐ฎ๐น๐น ๐ฒ๐บ๐ฏ๐ผ๐ฑ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐ฐ๐ผ๐ฟ๐ฒ ๐ฝ๐ฟ๐ถ๐ป๐ฐ๐ถ๐ฝ๐น๐ฒ๐, such as proof-of-work and decentralization. ๐๐ฉ๐ฆ ๐ต๐ฆ๐ณ๐ฎ "๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏ" ๐ช๐ด ๐ฅ๐ช๐ด๐ต๐ช๐ฏ๐ค๐ต, ๐ณ๐ฆ๐ง๐ฆ๐ณ๐ณ๐ช๐ฏ๐จ ๐ด๐ฑ๐ฆ๐ค๐ช๐ง๐ช๐ค๐ข๐ญ๐ญ๐บ ๐ต๐ฐ ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ข๐ฏ๐ฅ ๐ช๐ต๐ด ๐ถ๐ฏ๐ช๐ฒ๐ถ๐ฆ ๐ข๐ต๐ต๐ณ๐ช๐ฃ๐ถ๐ต๐ฆ๐ด ๐ต๐ฉ๐ข๐ต ๐ฆ๐ฏ๐ด๐ถ๐ณ๐ฆ ๐ด๐ฆ๐ค๐ถ๐ณ๐ช๐ต๐บ ๐ข๐ฏ๐ฅ ๐ต๐ณ๐ถ๐ด๐ต.
So while โ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏโ might dominate the discourse today, โ๐ต๐ช๐ฎ๐ฆ๐ค๐ฉ๐ข๐ช๐ฏโ more accurately captures the essence and originality of Bitcoin, stressing the importance of its chronological, ๐๐ฟ๐๐น๐ ๐ถ๐ฟ๐ฟ๐ฒ๐๐ฒ๐ฟ๐๐ถ๐ฏ๐น๐ฒ ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป๐ that distinguish it from all other cryptocurrencies.
Was this helpful? Give it a ๐๐ถ๐ธ๐ฒ๐ค
Think this might help someone else? ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ it with others.
๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this so you can reference it later.
Which term do ๐บ๐ฐ๐ถ prefer, โblockchainโ or โtimechainโ?
Let me know in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ