#bitcoin | Graysatoshi255 on Binance Square

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Bullish

What I said and Happen

BNB to $1050 🚀
BTC to $120k 🚀
$ETH to $4500 🚀
$XRP to $3🚀
$SOL to $230🚀

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Peer-to-Peer (P2P) is a decentralized communication and transaction model where two or more individuals interact directly with each other without relying on a central authority like a bank, company, or government. In a P2P network, each participant (or "peer") can act as both a provider and receiver of services or data. In the context of finance, a common example is P2P Bitcoin transactions, where one person sends Bitcoin directly to another person’s wallet without going through a bank or third-party service. This offers more control, privacy, and fewer fees. For instance, if John in Tanzania wants to send Bitcoin to Mary in china, he can do so instantly using a Bitcoin wallet—no need for a bank or money transfer service. In file sharing, platforms like BitTorrent use P2P to allow users to share and download files directly from each other, rather than relying on a central server. P2P systems are resilient, cost-effective, and empower users by removing middlemen. However, they also require more responsibility, as users must secure their data or funds themselves. Overall, P2P is at the core of many decentralized technologies, including blockchain, and it's transforming how we share, communicate, and exchange value globally.#PeerToPeer #PeerToPeer #PeerToPeer #PeerToPeer #P2P

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Public Key ni nini?. Public key ni sehemu ya teknolojia ya cryptography inayotumika kwenye miamala ya Bitcoin na blockchain kwa ujumla. Ni kama anuani yako ya kupokea pesa kwenye dunia ya kidijitali, sawa na namba yako ya simu kwenye M-Pesa au akaunti ya benki. Ufafanuzi wa Kitaalamu (kwa lugha rahisi): Public key hutokana na private key kupitia mchakato wa kihisabati. Unapounda Bitcoin wallet, mfumo hutengeneza jozi mbili za funguo: Private key: ni ya siri, hutumika kutia sahihi (kuthibitisha) miamala. Public key: hutolewa kutoka kwenye private key, na inaweza kushirikishwa na mtu yeyote ili akutumie Bitcoin. Kwa kutumia public key, watu wanaweza kukutumia Bitcoin, lakini hawawezi kutumia pesa zako isipokuwa wawe na private key yako, ambayo haipaswi kufichuliwa kamwe. Mfano Halisi: Fikiria private key kama kalamu ya kutia sahihi, na public key kama jina lako. Watu wanajua jina lako (public key) ili wakutumie pesa, lakini sahihi yako (private key) ndiyo inayothibitisha kuwa ni wewe halisi. Mfano wa public address (iliyotokana na public key): `bc1qw4e3a3l2jf9k3yx...` Hii unaweza kuituma kwa mtu ili akutumie Bitcoin. Umuhimu wa Public Key kwenye Bitcoin: 1. Usalama Inaruhusu kutuma pesa bila kufichua private key. 2. Uwazi Inaweza kutazamwa kwenye blockchain, na kuthibitisha miamala. 3. Decentralization Hutoa njia ya kushiriki kwenye mtandao bila kuwa na mtu wa kati (mfano: benki). Public key ni msingi wa usalama, uwazi, na uhuru wa kifedha kwenye Bitcoin. Inafanya miamala kuwa salama, isiyohitaji mtu wa kati, na inayohakikisha kuwa wewe pekee ndiye unayeweza kutumia fedha zako halali. #publickey #public #bitcoin #blockchaineconomy #MarketUptober

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Great question! Currently, Bitcoin miners are rewarded in two ways: 1. Block rewards (new bitcoins created every 10 minutes) 2. Transaction fees (paid by users to get their transactions confirmed) But here’s the catch: Every 4 years, the block reward halves (this is called the Halving). Eventually, around the year 2140, no new bitcoins will be created meaning block rewards will end. So, the big concern is: What if transaction fees alone aren’t enough to pay miners? Who will secure the network? Here’s how it might work: - As Bitcoin adoption grows, the number and value of transactions may increase, which could lead to higher total transaction fees enough to keep miners profitable. Layer 2 solutions (like the Lightning Network) will move small, fast payments off-chain, while the Bitcoin main chain will handle large, important transactions people may be willing to pay more for those. Mining technology will improve,reducing costs for miners. If necessary, users may voluntarily pay higher fees to keep the network secure. Bitcoin’s economic model is built on the idea that as the network matures, fees will gradually replace block rewards keeping miners motivated and the network secure. #Economic #BTCBreaksATH #MarketUptober #secure #block

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Great question! If a powerful country like the USA or China tried to ban mining or even launch a 51% attack (by controlling over half of Bitcoin’s mining power), it would definitely be a challenge but Bitcoin could still survive. Reason why bitcoin will still survive; 1. Bitcoin Is Global Bitcoin is decentralized it’s not controlled by any one country. Even if one nation bans mining, miners in other countries can keep the network running. For example, when China banned mining in 2021, the hash rate dropped but quickly recovered as miners moved to countries like the USA, Kazakhstan, and Canada. 2. 51% Attack Doesn’t Kill Bitcoin A 51% attack can cause problems like double spending or temporary delays, but it cannot steal coins or change Bitcoin’s rules. And once detected, the Bitcoin community can take action like changing the mining algorithm or reorganizing around honest nodes. 3. Strong Community + Incentives There are thousands of developers, miners, users, and companies worldwide who believe in Bitcoin. They’ll work together to defend it. Also, mining is profitable banning it just pushes it elsewhere. Even in a worst-case scenario, history and Bitcoin’s structure show that it can survive attacks from even the most powerful governments. #ChinaCrypto #BTCBreaksATH #Mining #BTC走势分析 #BTC

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Bitcoin’s security relies on proof of work, where miners use energy to validate transactions and secure the network. As adoption grows, energy use may increase but it’s important to note that: 1. Bitcoin encourages renewable energy use, as miners seek the cheapest sources, often found in surplus green energy. 2. Mining efficiency is improving, with new hardware using less energy per hash. 3. The network doesn't need energy to grow with users it secures blocks, not user count. 4. If energy use drops, the difficulty adjusts, keeping the system secure, just with less hashpower. So, Bitcoin can scale securely and sustainably. #Bitcoin❗ #security #BTC #BTCBreaksATH #MarketUptober

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