BankSith on Nostr: In an unprecedented move, Bitcoin's enigmatic CEO Satoshi Nakamoto has announced a ...
In an unprecedented move, Bitcoin's enigmatic CEO Satoshi Nakamoto has announced a radical change to the protocol's consensus mechanism.
Following the recommendations of central banks worldwide, Bitcoin is moving away from Proof of Work (PoW) and relying on Proof of Stake (PoS). The Japanese-born founder and president of #Bitcoin eventually realized that a sound money does not require marginal costs in production.
In a joint press conference with leading central banks and a consortium of international commercial banks, the Bitcoin CEO also presented important adjustments for a new BIP approval process. Future Bitcoin improvement proposals now require the nod of the esteemed group. The World Bank spokesman beamed: “We are pleased to add ‘Bitcoin oversight’ to our CVs.”
Other changes include an upgrade to Bitcoin’s seed phrase generation. Users' seed backups are now automatically sent to the central bank. No more lost seeds! The central bank acts as a custodian and holds the keys as a backup for citizens.
Experts consider Bitcoin’s main principle “Don’t Trust, Verify” to be a failure as politicians and global fiat currency planning commissions do not require neutral third-party audit functions to ensure sustainable fiscal and monetary policies. 🧡
#nostr 🐣
Published at
2024-04-01 07:08:56Event JSON
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"content": "In an unprecedented move, Bitcoin's enigmatic CEO Satoshi Nakamoto has announced a radical change to the protocol's consensus mechanism. \n\nFollowing the recommendations of central banks worldwide, Bitcoin is moving away from Proof of Work (PoW) and relying on Proof of Stake (PoS). The Japanese-born founder and president of #Bitcoin eventually realized that a sound money does not require marginal costs in production. \n\nIn a joint press conference with leading central banks and a consortium of international commercial banks, the Bitcoin CEO also presented important adjustments for a new BIP approval process. Future Bitcoin improvement proposals now require the nod of the esteemed group. The World Bank spokesman beamed: “We are pleased to add ‘Bitcoin oversight’ to our CVs.” \n\nOther changes include an upgrade to Bitcoin’s seed phrase generation. Users' seed backups are now automatically sent to the central bank. No more lost seeds! The central bank acts as a custodian and holds the keys as a backup for citizens. \n\nExperts consider Bitcoin’s main principle “Don’t Trust, Verify” to be a failure as politicians and global fiat currency planning commissions do not require neutral third-party audit functions to ensure sustainable fiscal and monetary policies. 🧡\n\n#nostr 🐣 https://image.nostr.build/6e4259c54f0683e8228227de3b83d5a614e67e1de346bb69af0ad896263ff3fc.jpg ",
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