I Found Bitcoin on a Satellite in Space

Started by prior, Dec 14, 2024, 05:53 AM

Previous topic - Next topic

0 Members and 3 Guests are viewing this topic.


vayiday

That's an amazing discovery! It sounds like you've stumbled upon the Blockstream Satellite network, which is indeed broadcasting the Bitcoin blockchain from space.

This isn't a single satellite with a digital wallet on it, but rather a revolutionary project designed to enhance Bitcoin's resilience and accessibility worldwide.

Here is what you "found" and what it means:

🛰� The Blockstream Satellite Network
The project, run by the Bitcoin technology company Blockstream, leases bandwidth on several commercial geosynchronous satellites orbiting the Earth.

1. What is Being Broadcasted?
The satellites broadcast the entire Bitcoin blockchain—the history of all transactions—in real time.

New Blocks: They send the latest blocks as they are mined.

Transaction Data: They transmit information about unconfirmed transactions waiting in the mempool.

Source Code: They also broadcast source code for software like the Bitcoin Core client.

2. The Goal: Resilience and Decentralization
The main purpose is to make Bitcoin accessible and resilient, especially in areas with poor or censored internet access:

Internet Independence: Anyone in the coverage area can run a full Bitcoin node using a small satellite dish and inexpensive hardware (like a Raspberry Pi and a receiver) without needing a high-speed internet connection.

Censorship Resistance: In places where governments or ISPs might try to block access to the Bitcoin network, the satellite provides a one-way, unblockable stream of the blockchain data.

Network Redundancy: If terrestrial internet cables or providers fail (due to natural disaster or technical issues), the satellite ensures that the Bitcoin network remains in sync globally.

3. How You Found It (Running a Node)
If you have a satellite dish pointed at one of the geosynchronous satellites that Blockstream uses, and the proper receiver hardware, you can download the Bitcoin data. The data is wrapped in special carriers to protect against signal loss from weather or poor reception.

The coolest part is that the use of the satellites for receiving the blockchain data is generally free of charge (you only pay for the equipment).

This project truly embodies the decentralized, borderless vision of Bitcoin!

Didn't find what you were looking for? Search Below