Separate Money from State

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Why bitcoin is the ideal tool for separation of money and state.

Bitcoin is a decentralized digital currency that operates on a peer-to-peer network. This means that it is not controlled by any government or financial institution. Instead, it is underpinned by a complex network of computers that work together to validate and record transactions on a public ledger called the blockchain.

One of the key features of bitcoin is that it is completely independent of any central authority, making it resistant to censorship and manipulation. This is why some people see it as an ideal tool for separating money from the state.

Since bitcoin is decentralized, it is not subject to the same regulatory oversight as traditional financial institutions. This means that users are able to send and receive payments without the need for intermediaries like banks. This makes it possible for individuals to have more control over their own financial affairs and to conduct transactions without the need for government approval or oversight.

In addition, the use of bitcoin allows for greater privacy and anonymity compared to traditional financial systems. Transactions on the blockchain are recorded publicly, but the identity of the users involved is not disclosed. This makes it a useful tool for people who value their privacy and wish to avoid having their financial activities monitored by the government or other third parties.

Overall, the decentralization and independence of bitcoin make it an appealing option for those who want to separate money from the state and take greater control over their own financial affairs.

Start your journey into self sovereignty by discovering one of the Bitcoin Lighting wallets such as The Wallet of Satoshi or Muun Wallet at your app store. Once installed join the Bitcoin Nottingham Telegram Group and we’ll send you 100 satoshi to start experimenting with!

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Bitcoin Halvings

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The maximum number of Bitcoins that can be created is 21 million, and this number is set in stone by the Bitcoin protocol. This means that no more Bitcoins can be created once this number is reached. This is different from traditional fiat currencies, which can be printed in infinite quantities by central banks, leading to inflation and depreciation of the currency.

The halving of the block reward is a key part of the Bitcoin protocol, and is designed to control the rate at which new Bitcoins are created. This process ensures that Bitcoin remains scarce, and that the rate at which new coins are created is cut in half every 210,000 blocks, or roughly every four years. This helps to control inflation and ensures that the value of Bitcoin does not decrease over time.

The current block reward is 6.25 Bitcoins, and this will continue to decrease as the halvings continue. As the block reward continues to decrease, the rate at which new Bitcoins are created will also decrease, further increasing the scarcity of the digital currency. This scarcity, combined with increasing demand for Bitcoin, is likely to drive the price of the digital currency higher in the future.

In summary, the limited supply of Bitcoin is a crucial aspect of the digital currency, as it gives it value and scarcity. The halving of the block reward is a key part of the Bitcoin protocol, designed to control the rate at which new Bitcoins are created, and further increasing the scarcity of the digital currency. This scarcity, combined with increasing demand for Bitcoin, is likely to drive the price of the digital currency higher in the future.

On average Bitcoin has doubled in value year on year since it’s launch in 2009.

To begin accepting Bitcoin as a method of payment in your shop, restaurant or office click here today!

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Only 21 Million Bitcoin

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The limited supply of Bitcoin is a fundamental aspect of the digital currency, as it creates scarcity and gives it value. The total number of Bitcoins that can ever be created is capped at 21 million, which is set in stone by the Bitcoin protocol. This means that no more Bitcoins can be created once this number is reached, unlike traditional fiat currencies which can be printed in infinite quantities by central banks leading to inflation.

The scarcity of Bitcoin is a key driver of its price, as it creates a sense of exclusivity and rarity. As more people adopt and invest in Bitcoin, the demand for it increases, driving the price up. This has led to speculation that the price of Bitcoin will continue to rise as more people become aware of it and invest in it.

Additionally, the mechanism of halving which occurs every 210,000 blocks or roughly every four years, controls the rate at which new Bitcoins are created, further increasing the scarcity and driving the price up. The current block reward is 6.25 Bitcoins and as it continues to decrease, the rate at which new Bitcoins are created will also decrease, increasing the scarcity of the digital currency.

In summary, the limited supply of 21 million Bitcoins is a crucial aspect of the digital currency, as it creates scarcity and gives it value. The scarcity is a key driver of its price and speculation that the price will continue to rise as demand increases. The halving mechanism also plays a role in controlling the rate at which new Bitcoins are created, further increasing the scarcity and driving the price up.

 

What is to stop the number of 21 million just being edited in the code?

The number 21 million is hard-coded into the Bitcoin protocol and cannot be edited because it is a fundamental aspect of the digital currency’s design. This number was chosen by the creator(s) of Bitcoin, Satoshi Nakamoto, as a way to control the rate of inflation and ensure that the currency remains scarce.

If the number 21 million were to be edited in the code, it would fundamentally change the nature of Bitcoin as a scarce, decentralized currency. It would also lead to a loss of trust in the currency, as users would no longer be able to rely on the set limit of 21 million coins.

Furthermore, the Bitcoin protocol is an open-source software which means that it is publicly accessible and can be audited by anyone. Changing the maximum number of Bitcoins would require a consensus from the entire Bitcoin community which is highly unlikely.

In summary, the number 21 million is hard-coded into the Bitcoin protocol as a way to control the rate of inflation and ensure that the currency remains scarce. Changing this number would fundamentally alter the nature of the currency and would not be accepted by the community.

Only 21 Million Bitcoin will ever be made. Digital scarcity is the basis of the invention of Bitcoin. Never before has it been possible to create something that is only digital and is scarce. Over 90% of the 21 Million Bitcoin to be mined (or minted, if you prefer) have already been issued. As a result of The Bitcoin Halvings fewer coins are minted as time goes by. The very last bitcoin will take over 40 years to mine, and will take until the year approx 2140.

One way to begin receiving Bitcoin is with our innovative Bitcoin Lightning Instant Payment Address (a ‘blipa’) which can be used to receive payments in the same way you can give out an email address to receive messages.

Order your own blipa such as bitcoin@yourshopname.com from our Bitcoin Shop page

https://bitcoinnottingham.org/product/bitcoin-lighting-payment-address/

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The Bitcoin Whitepaper

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The Bitcoin white paper, entitled “Bitcoin: A Peer-to-Peer Electronic Cash System,” was authored by an individual or group using the pseudonym Satoshi Nakamoto and was first published on October 31st, 2008.

It was the first time the word “Bitcoin” was defined and the paper describes the design and implementation of a decentralized electronic cash system that allows for online payments to be sent directly from one party to another without the need for a financial intermediary.

The system is built on a decentralized peer-to-peer network and uses cryptography to secure and validate transactions.

The paper also describes the concept of “mining” as a way to create and add new bitcoins to the system, and it outlines a plan for the currency’s release and circulation.

If you are just starting to learn about Bitcoin, it is recommended to read the white paper for yourself. It is the first ever document published on the subject and even if you don’t understand it at first, it’s a good idea to read it as it’s a fundamental piece of literature to become Bitcoin literate.

The white paper can be found at https://bitcoinwhitepaper.co/

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