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Nvidia had 3 founders. One guy cashed out all his shares at $30 million. The second guy cashout all his shares around $300 million.
Jensen Huang the CEO held onto the bulk of his shares. Now he's worth $120 billion. Some call it luck, but as a Christian I don't know what to call it.
Decentralized System
Bitcoin eliminates the need for trusted third parties (e.g., banks) by enabling direct peer-to-peer transactions. It achieves this through a decentralized network powered by nodes. However in 2024, most Bitcoin have been onboarded to exchanges and not self custody as required by KYC laws in the USA (think Coinbase). Originally, it was all peer to peer, but as it matured this isnt so much the case. It's been institutionalized.
Blockchain Technology
Transactions are recorded in a public, immutable ledger called the blockchain. Each block contains a group of verified transactions linked cryptographically to the previous block. This will never change, they tried... with Bitcoin cash to make it faster... it failed.
Proof of Work (PoW)
The network uses a consensus mechanism called Proof of Work, where miners solve computational puzzles to validate transactions and add them to the blockchain. This ensures security and prevents double-spending. This cost a lot of energy (hundreds of billions in sunk costs in the mining netowrks).It use Joe Smith at home with a graphics card, now its run by billion dollar corporations and even nation states.
Limited Supply
Bitcoin’s supply is capped at 21 million coins, making it deflationary by design. New bitcoins are released through mining rewards, which decrease over time through halving events. This is what makes it valuable as the fixed amount (denominator) will ever change while Global Debt is increasing astronomically. 21,000 BTC from now to eternity..
Privacy and Security
Transactions are pseudonymous; users are identified by public keys, not personal information. The cryptographic structure ensures security and reduces the risk of fraud.
