There are so many questions related to Bitcoin. But, sadly the answers are not very fulfilling most of the times. You’ll find yourself scrolling through various websites trying to know what’s really true and what’s not! It can be so frustrating!
That’s exactly why we try to make things easier and simpler just for you. You’ll be glad you found us! We’ll save your time and cut right through the chase. We’ve answered some basic questions related to Bitcoin in the simplest way possible. Scroll down below to find out if you know the answers to these question or not. Let it begin!
Were There More Blocks Mined Before?
If you’ve ever wondered this, then you’re not alone. Mr. Satoshi left a message for everyone in the code of the originally mined block for a reason people! It read “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” What the hell does it even mean?
Well it’s a quote which is a reference to the headline of The Times newspaper on 3rd January 2009. Come to think of, Mr. Satoshi had a lot of surprises up his sleeve and it was hell of a creative way to let us know that no other mines were blocked before. In Fact this was the first mined block ever!
There is a reason why he wanted us to know it. Mr. Satoshi does everything for a reason!
His vanishing was for a reason. Bitcoin was launched for a reason. It was important for us to know when the first block was mined because the original did not have any previous blocks that it could be referenced with. It meant the code needed to be custom made in order to mine the first block.
Who Is In Control Of This Awesome Digital Currency?
It’s us! No one controls it, but us! It’s a decentralized system and that’s exactly why it got so famous. It has the roots of democratization instilled in it! The people who invest in it, use it for purchases and mine it has the true power! The government can suck it!
In order to use the Bitcoin everyone needs to have a compatible version of the software which have the same rules. Feeling lost? Well, what we’re trying to say is everyone needs to be on the same page to take part in the Bitcoin revolution.
Why Do We Need To Follow The Same Set Of Rules?
If we don’t follow the same set of rules, then it won’t be a revolution it will be a disaster and that’s why the software was developed in a way to eradicate all possibilities of conflict. Interestingly, the developers are putting in their best effort to improve the coding of Bitcoin to make it more secure than it is.
But, the problem is that the users are in control of the protocol versions of the software they like to use. It’s exactly why the developers are left in a tough spot and can’t make any drastic changes to the Bitcoin code.
So, the question remains. Did you know the answers to these major questions related to Bitcoin? If you didn’t, now you know and you can flaunt your Bitcoin knowledge among friends and families. Be the star of the show!