š§µ bitcoin 101, the internet of money.
bitcoin isnāt a company.
itās not a coin someone controls.
itās an idea, that money can be math.
š
1ļøā£ the problem with digital money
in the digital world, anything can be copied.
music. movies. memes.
but if you can copy money, it breaks.
thatās the double-spend problem.
before bitcoin, only banks fixed this by keeping ledgers.
2ļøā£ the satoshi revolution
in 2008, Satoshi Nakamoto proposed a new kind of ledger.
open. public. borderless.
instead of trust, it used proof.
instead of banks, it used computers.
the blueprint was called bitcoin.
3ļøā£ the bitcoin ledger
imagine a notebook everyone can see.
when you send bitcoin, your transaction is written on the next page.
once written, itās permanent.
everyone owns the same copy.
no edits. no hidden accounts.
4ļøā£ who writes the pages?
miners.
they bundle transactions into blocks
and race to add them to the chain.
but they canāt just add, they must prove they worked for it.
that proof = Proof of Work.
5ļøā£ how proof-of-work works
miners guess random numbers (nonces) until one fits.
the winning blockās fingerprint (hash) must start with enough zeros.
finding it takes energy,
verifying it takes seconds.
7ļøā£ rewards & incentives
when a miner wins, they get:
š° new bitcoin (block reward)
šø transaction fees
itās not free money, itās payment for securing truth.
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