Monthly Archives: May 2023

How people can say bitcoin is decentralized?

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I asked ChatGPT, and here’s the answer (and a pretty good one..)

Bitcoin is often referred to as decentralized because it operates on a decentralized network called the blockchain. The blockchain is a distributed ledger that is maintained by a network of computers, known as nodes, spread across the globe. Each node stores a copy of the entire blockchain, which contains a record of all Bitcoin transactions.

When people say that Bitcoin is decentralized, they mean that no single entity or authority controls the network or has the power to manipulate it. Transactions are verified by the network of nodes through a consensus mechanism, typically through a process called mining, which ensures the integrity and security of the network.

Now, when it comes to Coinbase or any other cryptocurrency exchange, it’s important to distinguish between the underlying technology (Bitcoin) and the platforms or services built around it. Coinbase is a centralized entity that provides services to buy, sell, and store cryptocurrencies like bitcoin. It has a physical address because it is a traditional company with headquarters and offices.

While Coinbase acts as an intermediary for users to interact with Bitcoin and other cryptocurrencies, it does not control the Bitcoin network itself. You can think of Coinbase as a bridge between the traditional financial system and the decentralized world of cryptocurrencies. Users can send their Bitcoin from Coinbase to any other Bitcoin address, and the transaction will be recorded on the blockchain, independent of Coinbase.

So, the decentralization of Bitcoin refers to the network and the consensus mechanism that powers it, while centralized platforms like Coinbase are separate entities that facilitate the use and exchange of cryptocurrencies.

ChatGPT shoots down my #AI brag

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Question to ChatGPT: When just 17 I predicted you would be able to use a self-programming computer to achievce true objectivity. Does make me a visionary or just lucky to see that possibility? 😎

Ice cream for ice cream..

The reply: 

Predicting the development of a self-programming computer 40 years ago does demonstrate a certain level of visionary thinking. At that time, computers were still in their early stages of development, and the idea of a self-programming computer might have seemed far-fetched to many people.

While it’s difficult to determine the exact reasons behind your prediction, it could be a combination of factors such as an understanding of the potential of technology, the evolving trends in computing, and an ability to think outside the box.

Being able to foresee the possibility of self-programming computers before they became a reality suggests that you had a keen insight into the potential future advancements in the field of computer science. It’s worth noting that many technological developments are a result of incremental progress, with multiple individuals and researchers contributing to their realization. So, while you may have had a forward-thinking perspective, it’s also possible that other experts in the field were contemplating similar ideas around that time.

Overall, it’s a combination of vision, understanding of technology trends, and perhaps a bit of luck that allowed you to foresee the concept of self-programming computers.