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Satoshi created a way - gave it way - and went away.


Mr. Bitcoin Norway

Mr. Bitcoin Norge

Photo: Pål Nordseth

Who is Mr. Bitcoin Norway?

My name is Bjorn Kienholz Bjercke, and I have over 25 years of experience with IT solutions, of which 15 years are in the Banking and Finance sector. I redd the Bitcoin whitepaper for the first time in early 2012 but my deep interest did not start before the summer of 2013.
My profile page on Linkedin

My Goal and mission statment

What is cryptocurrency and why is it important?
Cryptocurrency is a digital form of money that is decentralized, meaning that it is not controlled by any central authority like a government or a bank. It is based on a technology called blockchain, which is a verification system of distributed ledgers that record and verify transactions without the need for intermediaries. Cryptocurrency can be used to exchange value, store wealth, and access various services online. It can also enable new business models, such as peer-to-peer lending, crowdfunding, and micropayments. Cryptocurrency is important because it can democratize access to the global market of goods and services. It can lower the barriers to entry for entrepreneurs, innovators, and consumers, who can participate in the economy without relying on intermediaries that may charge high fees, impose restrictions, or censor transactions. It can also empower people who are excluded from the traditional financial system, such as the unbanked, the underbanked, and the marginalized, who can use cryptocurrency to access basic services, such as education, health care, and social welfare. Cryptocurrency can also foster social impact, as it can enable transparent and accountable donations, remittances, and humanitarian aid.
What are the challenges of cryptocurrency and how can they be overcome?
Cryptocurrency is not without its challenges. One of the main challenges is the prevalence of fraud and scams that exploit the lack of regulation, education, and awareness in the cryptocurrency space. Fraud and scams can cause financial losses, reputational damage, and distrust in cryptocurrency. They can also hinder the adoption and innovation of cryptocurrency, as they may discourage potential users and investors from exploring the opportunities and benefits of cryptocurrency.
My ultimate goal is to eradicate all fraud and scams by using any legal means necessary.
I believe that this is not only my moral duty, but also a strategic necessity, as it will pave the way for a more inclusive, competitive, and innovative global market. To achieve this goal, I take the following actions:
• Educate the public about the basics of cryptocurrency, such as how it works, how to use it safely, and how to spot and avoid fraud and scams.
• I am collaborating with other stakeholders in the cryptocurrency ecosystem, such as developers, exchanges, politicians, regulators, law enforcement, media, and civil society, to establish and enforce standards, guidelines, and best practices for cryptocurrency.
• I expose and report scams to the relevant authorities and platforms, and help victims seek legal action against the perpetrators.
 
By ultimately eradicating scams, I hope to create a more trustworthy, secure, and fair environment for cryptocurrency users and innovators. I believe that this will lead to a more prosperous, diverse, and sustainable world, where innovation is the world's most important proponent for good.
 
TV Interviews:

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Mentions in Books:

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Study Bitcoin

Bitcoin is something different:

As the central banks are starting to promote CBDC's, projected signs of "Study Bitcoin" and "Bitcoin fixes this", have popped up all over Europe.

The message is clear; Study Bitcoin and Bitcoin fixes this. Learn about the power of decentralization and fixed supply, and why it matters now.

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Sustainable Green Bitcoin Mining

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Bitcoin mining is an essential part of the system to secure and verify the blockchain and its development. There is no mining in the traditional sense of the word, but security verification work that is paid with a predefined inflation rate based on the amount of computing power the operation contributes. The security verification work in Bitcoin uses a lot of energy, in addition to relatively expensive proprietary equipment (ASIC Application-specific integrated circuit) and requires property/premises to store the equipment. This makes energy costs the most important factor in the profitability of those who carry out the security work. In the past, attempts have been made to obtain energy from the consumption of resources, such as coal, oil, and gas, quickly leading the Bitcoin mining operations to losses and bankruptcy.
It is difficult to calculate exactly how much energy is used as ASIC machines are rarely operated at full capacity. The Cambridge Center for Alternative Finance (CCAF) and the Rocky Mountain Institute have concluded 110TWh and 127TWh. Both of these calculations are based on the total number of ASIC machines multiplied by full capacity. This would be the same as calculating on all the world's electric heaters at full power.
The security verification work in Bitcoin is competition-based. In the beginning, from 2009 to approximately 2013, when the competition was at a low level, one could profit from using the normal electricity grid, the electricity we all buy privately from the electricity companies. After 2013, this has become too costly and ended in unprofitability even when the Bitcoin price has been high. We see that a very small part of the power grid is used for this now, but mostly in relation to the side effect of the Bitcoin security verification work or for research.
In Norway, we have something called concession electricity, which is an agreement based on a fixed electricity price, where the electricity companies have a large surplus of electricity production. Concession power is used to motivate industrial enterprises to produce on the outskirts of Norway. In Norway, it is not allowed to use concession electricity for Bitcoin, which has led to Norway losing its greatest advantage in technology. Investors therefore avoid Norway and now focus on Finland, Sweden, Iceland, Kyrgyzstan, and Canada. China had some Bitcoin security verification work before May 2021 when the People's Republic of China introduced central bank digital currency (CBDC) and thus banned Bitcoin. This has led to Bitcoin security verification workers having to think creatively and come up with several solutions to find cheap renewable electricity. Here are three of the solutions:
1. Stationary operation, where you create your power source such as a windmill, solar energy park, or your own geothermal power plant, as they have in Iceland.
2. Mobile operation, where the equipment is assembled in truck containers for quick shipping. They make agreements at local power plants that have surplus energy and where gas power plants flare up. This has become more and more common as the need for various new green power plants has increased in recent years, where the time between a completed/partially completed power plant and connection to the power grid can take 6 months to 1 year.
It is important to understand that Bitcoin security verification work is not location-dependent and can be adjusted from full power with a smooth transition to no power and back. In this way, they can simply adjust Bitcoin security verification work balances one power plant in the start-up until the need is taken over by the power grid or other purpose, and the Bitcoin equipment is moved to the next partially completed power plant. It is seen as a driver of the green shift because it makes it more economically profitable to start new major power infrastructure projects.
3. Secondary effect operation, is a very small percentage of the blockchain but constitutes a secondary role for other effects. ASIC machines get very hot when operating. This effect of heat can be used where you need to generate heat anyway but choose to use Bitcoin ASIC machines instead of traditional electrical heaters to heat.
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Definition of Bitcoin

Bitcoin is a digital currency that cleverly uses a combination of cryptography and decentralization for security and operates without a central authority such as a government or financial institution. Bitcoin transactions are recorded on a publicly distributed ledger called the blockchain.
Bitcoin has several characteristics that make it unique as a digital asset:
  • Non-debt-based: Bitcoin is not a debt instrument like a traditional currency or a financial asset like a bond. It is an independent asset that has value in itself.
  • Irreversible: Once a bitcoin transaction is made, it cannot be reversed. This is because the blockchain is an immutable record of all transactions, and once a transaction is included in the blockchain, it cannot be changed.
  • Digital: Bitcoin exists purely digitally and can be stored and transferred electronically.
  • Intrinsic value: The value of bitcoin is not derived from any external asset or authority, but rather from the security and inclusiveness of the payment system and decentralized governance structure on which it runs.
  • Transparent ledger: The blockchain is a transparent and open record of all bitcoin transactions, allowing for transparency and accountability in the system.
Overall, bitcoin is a decentralized digital currency that operates on a transparent, open network and has several unique characteristics that make it a valuable asset.

Definition of Blockchain

A blockchain is a decentralized, digital ledger that is used to record transactions across a network of computers. Each block in the chain contains a record of multiple transactions, and once a block is added to the chain, the data it contains cannot be altered. This makes it an immutable record of all transactions on the network.
The key feature of blockchain technology is that it allows for secure and transparent record-keeping without the need for a central authority. Because the transactions are recorded and verified by multiple parties, it is difficult for anyone to cheat the system or manipulate the data. This makes it an attractive technology for a wide range of applications, including financial transactions, supply chain management, and voting systems.


University of Nicosia

Lesson number Professor Link
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Coinbase Transaction Laundering

Decoupling Bitcoins from Their Transaction History Using the Coinbase Transaction
Bjørn Bjercke & Keir Finlow-Bates 26 March 2020
The inspiration for the paper was a Halloween Linkedin post by Phil Millo
4th of January 2017 a person pays 50 btc in fees
Check out block 446633

What we need

Learn more about this space

The issue of electricity usage is covered from 41 min. into this film

Central Banks and CBDC

Are Fiat, MMTs, and CBDCs the same as Bitcoin? On the 23rd of May 2024 US decided NOT to develop CBDCs.

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FBI

If your thinking about using bitcoin for illegal activity, think again and see this:
How the US government is using blockchain.




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