Crypto 360°

Wednesday 3 November 2021

Ledger nano x/ app combo…

Currently I am using the ledger live app, but wondering if anyone knows of a better app to use to use with my ledger nano x??? Does that make sense? I know exodus works with Trezor hardware, but what is good for ledger products?

submitted by /u/datritle
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source https://www.reddit.com/r/btc/comments/qlbfbq/ledger_nano_x_app_combo/

Getting Ahead in Crypto Education, With Amber McLeod

submitted by /u/MarcelaFaulcon
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source https://www.reddit.com/r/btc/comments/qlc3xz/getting_ahead_in_crypto_education_with_amber/

Thailand’s Oldest Bank Acquires Majority Stake in Country’s Largest Crypto Exchange

submitted by /u/Rusyee
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source https://www.reddit.com/r/btc/comments/qlc2r4/thailands_oldest_bank_acquires_majority_stake_in/

"We have decided to make the first 20 bitcoin schools": Bukele, president of El Salvador

submitted by /u/WillianBo
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Can someone ELI5 me on how Bitcoin is mined, literally explaining the process of hashing to win the block?

The way i understand it is, every block has a header and in each header are various bits of info. The miner has to take a few bits of this info, hash it, only winning the block when the hash fits a certain digit size or something??

How far off am I in understanding it? This is something that when explaining bitcoin to a noob would be useful to know. Is it explainable in a few sentences?

Thanks in advance 👍

Edit: Thanks guys, great responses! Also very impressive the amount of hashing that is going on every second, WOW mind blowing!

submitted by /u/Algohead
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This is the 'why' of cryptocurrency

submitted by /u/Significant-Budget28
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source https://www.reddit.com/r/btc/comments/qlaruq/this_is_the_why_of_cryptocurrency/

Bitcoin Maximalists honestly discussing scaling limitations: "If you wanted to onboard billions of people, you would definitely run the risk of never having a transaction confirmed in your lifetime."

Here is something you don't see very often in Bitcoin circles. A maxi honestly disclosing that bitcoin in it's current form is utterly incapable of scaling because of base layer constraints.

The problem with the baselayer is both the block size, and the amount of circulating satoshis, and the dust limit ultimately limit how many UTXOs we can ultimately create that have bitcoin in them and how quickly we can create them. So in order to get over something like roughly 80 million potential possible UTXOs with bitcoin in them we would have to say remove the dust limit that would free up more. Even if we do that, we still only end up like 100 million - 200 million, still very low relative number compared with society as a whole. We do not end up with billions.

Even if we wanted to onboard a billion people, it would be severely limited by the blocksize. If you wanted to onboard billions of people, you would definitely run the risk of never having a transaction confirmed in your lifetime because the blocksize is too small to do the volume of UTXO creation.

So in order to actually get billions of people using bitcoin, you would literally have to increase the amount of bitcoins, you have to multiply the supply, and you would have to increase the blocksize.

John Carvalho, TFTC #281 ~80:00

submitted by /u/XMR2020
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source https://www.reddit.com/r/btc/comments/qla73a/bitcoin_maximalists_honestly_discussing_scaling/