Blockstream CEO Adam Back has recently caused a stir in the cryptocurrency community with his tweet stating that “Crypto and Bitcoin are completely different things.” He shared an image depicting Bitcoin as being much more important than other cryptocurrencies, and compared it to the movie Highlander, which portrays immortals who never die.

Back, who was a key developer in the early days of Bitcoin and is known as a Bitcoin maximalist, emphasized that Bitcoin is not just an investment asset but also a store of wealth and money used for transactions.

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He went on to say that one can choose to become a Bitcoin maximalist now or later, indicating that Bitcoin’s importance will only continue to grow. This statement has sparked discussions among the crypto community, with some agreeing that Bitcoin is a separate entity from other cryptocurrencies, while others disagree.

Blockstream, the company that Back heads, is focused on developing technologies that make it easier to use Bitcoin for payments and remittances, as well as supporting the adoption of Bitcoin as legal currency in El Salvador. It is also involved in the issuance of volcanic bonds secured by Bitcoin.

Bitcoin maximalists believe that Bitcoin is the only true cryptocurrency and that other digital assets are merely imitators. They argue that Bitcoin’s decentralized nature, limited supply, and high level of security make it the only viable option as a global digital currency.

However, critics of Bitcoin maximalism argue that this view is narrow-minded and ignores the innovation and potential of other cryptocurrencies. They argue that Bitcoin’s dominance in the crypto space is not a given and that it could be replaced by other digital assets in the future.

Regardless of one’s opinion on the matter, Back’s tweet has sparked a new round of discussion and debate about the role of Bitcoin and other cryptocurrencies in the digital economy.

#Blockstream #Adamback #BTC #bitcoin #azcoinnews

This article was republished from azcoinnews.com

HOW TO SEND BITCOIN WITHOUT INTERNET CONNECTION .... INTRODUCTION-When #SatoshiNakamoto released #Bitcoin on 3rd January 2009, for financial use, the pseudonym person had a plan for decentralization and to reach the unbanned the banking system.Current trends have proved that $BTC lived up to Nakamoto’s plan to reach the marginalized. Currently, users are able to send and access the BTC blockchain with and without an internet connections too.Here is how you can go about it. However, you will require an internet connection to read this article... Present Scenario-Bitcoin lives on to fulfill Satoshi’s mandateAs with most other industries, the Internet has become indispensable to the crypto industry. It has served as the foundation for the vast majority of infrastructure used by individuals to interact with the crypto ecosystem. There are still obstacles to BTC’s functioning without an internet connection.The Internet is one of the primary channels through which Bitcoin transactions are transmitted across the blockchain network and distributed to its public ledger. Without the Internet, thousands of computers worldwide would be incapable of validating transactions (a process known as BTC mining) in order to update the network. The odds of the lack of internet would significantly slow down the network, but a record of the most recent BTC transaction would persist on all network computers. Until the Internet is restored, transactions can still be processed using alternative communication methods.In as much as the lack of internet stands as a hindrance to BTC global adoption, there are ways to circumvent that and still enjoy the financial benefits set forth by Bitcoin. In the event the Internet is shut down or an absolute lack thereof, there are alternative methods to send Bitcoin transactions.The most probable ways to use $BTC without the Internet are using radio, satellite, and SMS. Lets see here is how:-1. Radio WaveIn 2019, two BTC engineers used radio waves and Bitcoin’s layer 2 Lightning Network to exchange BTC over a 4000km distance. The transaction was sent from Rodolfo Novak, Co-Founder of CoinKite in Toronto, to Elaine Ou, a Bloomberg journalist in San Francisco. Although time-consuming, Bitcoin can be sent and received using a meshed radio network to anyone with an appropriate antenna.2. Satellite#Blockstream , a company devoted to enhancing Bitcoin’s functionality, revealed in 2017 that it had created a satellite-based BTC transfer option. The network, now known as Blockstream Satellite, distributes the BTC blockchain around-the-clock without the need for the Internet. On the ground, anyone with a modest satellite receiver can then receive the Bitcoin blockchain. According to Blockstream, the option can reduce costs and improve network stability in addition to protecting against Internet vulnerabilities.3. SMSSMS messaging could still function in a world without the Internet, as it has been demonstrated that it is capable of transmitting BTC transactions. As each SMS is limited to 160 characters, transactional information is divided across multiple messages and then reassembled at the recipient. The SMS service was developed particularly for those battling Bitcoin censorship.USECASE-It provides access to the Lightning Network via an Unstructured Supplementary Service Data interface, which makes use of mobile phones’ Subscriber Identity Module telecommunication network. USSD is comparable to IVR (Interactive Voice Response).More than seven African nations, including Nigeria, Kenya, Ghana, Uganda, and Namibia, have approximately 2,900 users of Machankura. Users dial a number and are then presented with a menu that allows them to learn more about Bitcoin or create an account. All that is required to register an account is a 5-digit PIN, after which you will be presented with a new menu: Send and receive Bitcoin.CONCLUSION - There is still a long way to go until offline bitcoin solutions are as borderless as the Bitcoin network itself. All things considered, investors feel that in the next years, we will continue to witness more bitcoin-based inventions that are unique to the global south. African bitcoiners are just getting started.DISCLAIMER-The information provided is not a trading advice. Always #DYOR before investing in Crypto Currency and Trade Wisely by using #StopLoss , it's just NFA and it holds no liability for any investments made based on the information provided on this page.

#Liquid is a sidechain (auxiliary #blockchain ) for the issuance and #exchange of digital assets of the Bitcoin network, developed by #Blockstream .

The Liquid network is focused on cryptocurrency exchanges, market makers and payment providers, with more than 20 cryptoindustry companies among its partners, including Bitfinex, BitMEX and Xapo. Sidechain participants can tokenize any assets (fiat, securities, altcoins) and conduct fast, cheap and confidential transactions between each other. The L-BTC network token, backed by #bitcoins at a 1:1 ratio, is used as the internal currency.

To work with Liquid, Blockstream has introduced the Green mobile bitcoin wallet, which supports the L-BTC token and has a custom asset creation feature. Liquid has also already added Lightning Network payments and atomic swaps between issued tokens.