Lets get back to the basics.
Quick rip today as I am extremely busy.
There is never a bad day to brush up on your Bitcoin basics. Luckily for you freaks, Danny Diekroeger has been BEASTING Twitter threads explaining everything from how Bitcoin addresses work to how the difficulty adjustment is calculated to cryptographic hash functions and much more in a very digestible format. Below are links to all of the threads he has written so far. If you have been meaning to learn more about some of these concepts but have felt a bit intimidated, Danny's threads are a great way to get introduced to and develop a base layer understanding of these concepts.
Grow your know. Enjoy!
~ Bitcoin Addresses ~
— Danny Diekroeger (@dannydiekroeger) July 19, 2020
How do they work? Where do they come from? Why do some look different than others?
Thread 👇
Hash Functions are a key concept in computer science, cryptography, and yes #bitcoin.
— Danny Diekroeger (@dannydiekroeger) July 9, 2020
It's impossible to explain how bitcoin works without first understanding what a Hash is.
If you'd like to expand your background knowledge, read on 👇
Hash Functions are a key concept in computer science, cryptography, and yes #bitcoin.
— Danny Diekroeger (@dannydiekroeger) July 9, 2020
It's impossible to explain how bitcoin works without first understanding what a Hash is.
If you'd like to expand your background knowledge, read on 👇
~ The Anatomy of a Bitcoin Transaction ~
— Danny Diekroeger (@dannydiekroeger) July 11, 2020
TXID, Outputs, Inputs, Transaction Fees, UTXOs - what do all these terms mean?
In this thread we will dissect a real bitcoin transaction and I'll explain its main components
To expand your background knowledge, read on 👇
~ Transaction Fees in Bitcoin ~
— Danny Diekroeger (@dannydiekroeger) July 12, 2020
Ever wonder why bitcoin transaction fees are sometimes high, sometimes low?
Did you know that sending 0.001 bitcoin can cost more than sending 10,000 bitcoins depending on the situation?
I'll explain all this below 👇
~~ Bitcoin Consolidation Transactions ~~
— Danny Diekroeger (@dannydiekroeger) July 12, 2020
These can help you Save Money on Fees!
What are they? How do they work? 👇
~ Bitcoin's Difficulty Adjustment ~
— Danny Diekroeger (@dannydiekroeger) July 13, 2020
How does the bitcoin network ensure that blocks continue to get mined once every 10 minutes on average?
In this thread I'll explain the Difficulty Adjustment, and why it might be the most genius part of bitcoin 👇
~ Internet Censorship and Bitcoin ~
— Danny Diekroeger (@dannydiekroeger) July 15, 2020
Why Twitter can ban you, but Bitcoin never will
What are the technical differences between centralized platforms and decentralized networks?
Let's dive in 👇
Private Keys, Public Keys, and Digital Signatures
— Danny Diekroeger (@dannydiekroeger) July 17, 2020
What do all these terms mean?
Here's a high level overview of the basics, and how they help us do cool things especially in bitcoin 👇
Final thought...
Thawing a brisket. Wednesday is for slow cooked meats.
