The Atlanta Blockchain (TAB) - Bitcoin & Blockchain 101 Workshop notes


#1

Bitcoin & Blockchain 101 Workshop
Presented by: Michael Tidwell – The Atlanta Blockchain (TAB) Founder

Section I: Bitcoin/Blockchain

  • White Paper
    https://bitcoin.org/bitcoin.pdf

  • 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.
    Ref: https://bitcoin.org/en/glossary/coinbase
    – contained text in genesis block : "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
    Ref: https://en.bitcoin.it/wiki/Genesis_block

  • Private Keys
    – 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!

  • Public Keys
    – Expose only public keys. Do not share private keys to anyone! (Maybe spouse is ok?)

  • Blockchain.info
    – Allows you to view transactions in the Bitcoin network.

  • Block size
    – “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
    ref: https://en.bitcoin.it/wiki/Nonce
    – You can see the average Bitcoin block size increasing to fill 1MB since inception.
    ref: https://blockchain.info/charts/avg-block-size?timespan=all

  • Halving
    – Every 210,000 blocks mined the reward is cut in half.
    – Currently 12.5 BTC
    ref: http://Blockchain.io
    – Next halving 6.25 BTC on June 03, 2020
    ref: http://www.bitcoinblockhalf.com/

  • 10 min block
    – 6 blocks mined per hour
    – 144 blocks mined per day

  • Security – 51% attack resistant

  • How Transactions Work
    – Mining Demo site
    https://anders.com/blockchain/blockchain.html

Break:
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.

Section II:

  • Hardware Wallets

– Nano S Ledger

– Trezor

Brought home some bitcoins!


What / where are you today (whatcha working on)?
#3

So cool!!! Great notes!!


#4

Oh man. Thanks so much for these notes man! Seems like you learned a ton!!!


#5

This is amazing, thank you for sharing!


#6

Forgot to mention. I met someone at the workshop claiming to have met Satoshi when he was a gov. contractor. He said Satoshi is actually a woman. She brought up blockchain before bitcoin surfaced. Good topic for conspiracy Sunday? Lol


#7

Awesome man!! Very informative information.


#8

I think I know who that is … I think he told me the same thing…


#9

Peter hyung you are so funny hahahaha


#10

Great notes. Thanks for sharing!