Bitcoin [BTC] proponent elucidates on the difficulty of mining Bitcoin

Andreas Antonopoulos, the author of Mastering Bitcoin and a well-known Bitcoin proponent, spoke about the difficulty of Bitcoin mining and why each block of Bitcoin is mined every ten minutes, during a Q&A session on Youtube.
The author stated that he was asked whether it is a rule or an average number based on computation power that blocks are formed every ten minutes. To which, he stated that it is both, adding that it is a rule in Bitcoin that the difficulty target is based on the computational power of the network that forms blocks every two weeks.
He went on to say:
“The rule in Bitcoin is [about] the difficulty of doing the calculation, which is adjusted every two weeks. The average number of blocks in a period of time [will] equal a block about every ten minutes.”
Andreas stated that this would result in the 2016 blocks mined within a timespan of two weeks. He added that if the blocks mined the previous two weeks are exactly 2016, then the difficulty of solving the PoW algorithm and the amount of hash power committed by the miners for Bitcoin mining is perfect.
The author further stated:
“Let’s say that instead of 2016 blocks, we had 2217 blocks, or effectively 10% more blocks. The network [would adjust] the difficulty [to be] 10% [more difficult], the same ratio as the [percentage] of extra blocks we had versus the number of blocks we should have.”
Andreas continued to say that if there was a difference of 10%, then the difficulty target will also be adjusted by 10%, because of which 10-minute blocks would be “closer” in the future. He further elucidated the result if it was 10% lower, stating:
“[…] 10% short, we would adjust by about 10% in the difficulty target. That calculation happens every two weeks, at exactly the same block, and affects the difficulty of the next block across the entire network [of nodes].”
The Bitcoin proponent stated that every computer in the network counts the number of blocks noticed over the past two weeks, measuring the amount of time between the blocks, and adjusts the difficulty in accordance, “and arrives at the same answer, as the entire network switches [the difficulty target]. For the exact same amount, every two weeks.”
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Source: AMB Crypto

Bitcoin proponent: The only two choices in current voting system are red Goldman Sachs vs blue Goldman Sachs

Andreas Antonopoulos, a well-known Bitcoin proponent and author of Mastering Bitcoin, spoke about Ryan Bundy, a candidate for governor of Nevada and his plans on implementing cryptocurrency and blockchain technology to solve the problems encountered by people, in his recent Q&A video on Youtube.
Antonopoulos was asked about his suggestions on implementing blockchain governance into the current government. This was followed after the statement about Ryan Bundy planning on bringing blockchain into government first.
The governor candidate wants to introduce Nevada insured metals-backed cryptocurrency and plans to educate, incubate and promote the use of blockchain technology in the state. He plans on creating a crypto-friendly environment, and encourage crypto-influencers to visit and develop their business in the state.
Antonopoulos stated that he does not think that blockchain can fundamentally change the governance system until they are decentralized. He went on to say:
“Most of the proposals I hear from people in this space who grabbed the word blockchain are indistinguishable from simply saying database or cloud this is a simple litmus test. Take the proposal of your favorite new blockchain system that someone’s proposed in government replace the word blockchain with database and if it still reads correctly, it’s not really anything interesting.”
He continued to say that it would be a highly centralized database, wherein the responsibility will be given to one party and that this is “business as usual with a sprinkling of fairy dust” on top. Antonopoulos added that all the government-driven blockchain projects he has come across so far are fundamentally about asserting control over the blockchain. This means that their business would continue to be the same, except with the disguise of being something revolutionary.
Antonopoulos further stated:
“They’re not at the moment. We can’t even get people to use this as money without sacrificing their independence and autonomy because they, as I just mentioned, they go to custodial services. I don’t see any way that you can have people use it to vote, for example, and again the problems we have in our democracy have nothing to do with validating whether the votes were counted correctly or whether there was fraud.”
The author stated that the problems which are currently faced by people are related to disenfranchisement on a massive scale and complete “voter apathy”. This is because people are given only two choices in the current voting system, red Goldman Sachs vs blue Goldman Sachs. He added, “picking the color isn’t democracy.”
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Source: AMB Crypto

Bitcoin proponent equates cryptocurrency custodial services to modern-day bank robbery schemes

Andreas Antonopoulos, a well-known Bitcoin proponent and author of Mastering Bitcoin, gave his opinion on whether Bitcoin custodial wallets and banks are a threat to the hard money quality of Bitcoin, in his recent Q&A video on Youtube.
The Bitcoin proponent was questioned about whether he thought that the custodial wallet and Bitcoin banks could threaten the hard money quality of Bitcoin. This was followed after it was stated that the hard money aspect of Bitcoin has the potential to remove the government’s ability to steal their citizens through inflation with the motive of funding corruption and wars.
Antonopoulos stated that Bitcoin is completely undermined as it can be directly stolen if not through inflation. He went on to say:
“One way to do that is just to go in and seize all of that Bitcoin directly from the custodial accounts, which will start happening in different countries, right. So again, depending on how you look at it in modern societies, bank robberies nowadays happen in a very different way than they used to.”
The author claimed that the most successful bank robberies at present are carried out by people with a banking license. However, this is not classified as theft as the people stealing the money then legalize the stolen money, he added. This would result in no one being apprehended for the crime. This, according to him, is a “far better way” to rob a bank in comparison to the earlier days wherein thieves would use a machine gun. He added:
“Being a regulator in the banking industry, even better than having a banking license. If you want to rob a bank, being a central banker, say the European Union, allows you to rob an entire country. Like what happened to Greece and Cyprus and again far far better than using a gun because you just take 10 million people hostage.”
Antonopoulos further spoke about the risks in Bitcoin’s custodial system, which is a result of centralization and concentration of power. He stated that the risk would become “systemic risks”. He explained:
“when you have institutional custodial systems, like that the people who can rob them, are the people who have authority over them and they don’t need inflation to do that.”
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Source: AMB Crypto