29 lines
725 B
Markdown
29 lines
725 B
Markdown
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# Bitcoin Whitepaper Notes
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## Key Concepts
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### Peer-to-Peer Electronic Cash
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- No trusted third party needed
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- Double-spending solved via proof-of-work
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- Longest chain = truth
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### Proof of Work
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- SHA-256 based hashing
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- Difficulty adjusts every 2016 blocks (~2 weeks)
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- Incentive: block reward + transaction fees
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### Network
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- Nodes broadcast transactions
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- Miners collect into blocks
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- Blocks are chained via hash references
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## My Thoughts
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- The 21M supply cap is genius - digital scarcity
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- Lightning Network solves the scaling concern
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- Self-custody is the whole point
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## Reading List
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- [ ] Mastering Bitcoin - Andreas Antonopoulos
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- [ ] The Bitcoin Standard - Saifedean Ammous
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- [ ] Programming Bitcoin - Jimmy Song
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