Bitcoin & Blockchain 101 Workshop
Presented by: Michael Tidwell – The Atlanta Blockchain (TAB) Founder
Section I: Bitcoin/Blockchain
Andreas Antonopoulos – Who is this guy? jk…
– Most well-known and well-respected figures in the Bitcoin community
– Travels around the world giving talks on Bitcoin
– Wrote a book “Mastering Bitcoin”
Coinbase (Not talking about exchange)
– A special field used as the sole input for coinbase transactions. The coinbase allows claiming the block reward and provides up to 100 bytes for arbitrary data.
– contained text in genesis block : "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
– Allows you to send BTC to a public address
– Always have your private keys. Storing BTC on exchanges for ex. on Coinbase you do not hold possession of your private keys! Coinbase owns them!
– Store BTC in a personal wallet!
– Expose only public keys. Do not share private keys to anyone! (Maybe spouse is ok?)
– Allows you to view transactions in the Bitcoin network.
– “nonce” in a Bitcoin block is a 32-bit (4-byte) field whose value is set so that the hash of the block will contain a run of leading zero
– You can see the average Bitcoin block size increasing to fill 1MB since inception.
10 min block
– 6 blocks mined per hour
– 144 blocks mined per day
Security – 51% attack resistant
How Transactions Work
– Mining Demo site
Was able to see a live demo of Moonlander 2 Miner which mines Litecoin! A USB plug-in. Roughly to generate around $10 of LTC a month in a pool.
- Cold Storage
– Printed paper wallet
- Hardware Wallets
– Nano S Ledger
- Supports more alt coins
*Purchase from authorized seller
*There has been a report a user got all crypto assets taken due to fake recovery sheet:
Brought home some bitcoins!