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Showing 4 of 4 results by DiceDies
Welcome to the crypto space! Yes, all transactions are stored on the blockchain and it's not a 'code' per se. Bitcoin is best described as a virtual currency. There are no physical cash forms, coins, or tokens, they exist electronically based on an open-source software released by an unknown developer under the pseudonym Satoshi Nakamoto.
The Bitcoin network is decentralized in that no central authority controls the amount of bitcoin in circulation. Bitcoin doesnt need a banking system or government for bitcoin tokens to be created, exchanged, or stored, and is not involved in traditional exchange rates. Instead, Bitcoin leverages a peer-to-peer network commonly referred to as the blockchain. The blockchain technology used in Nakamotos software is the key to Bitcoins defining characteristics.
We expand on this in our BTC 101 guide, feel free to check it out, it's a great place to start for beginners! http://[Suspicious link removed]/Bitcoin101Guide
Cheers!
The Bitcoin network is decentralized in that no central authority controls the amount of bitcoin in circulation. Bitcoin doesnt need a banking system or government for bitcoin tokens to be created, exchanged, or stored, and is not involved in traditional exchange rates. Instead, Bitcoin leverages a peer-to-peer network commonly referred to as the blockchain. The blockchain technology used in Nakamotos software is the key to Bitcoins defining characteristics.
We expand on this in our BTC 101 guide, feel free to check it out, it's a great place to start for beginners! http://[Suspicious link removed]/Bitcoin101Guide
Cheers!
Thanks for the explanation.
Hi,
I can't agree with you actually...
The blockchain is not connecting all computers. It is rather a huge chain, shared by all users. It is build up by miners, who are supposed to check all transactions. Though, it is not something tangible, so I can understand that the concept may be hard to grasp...
As for bitcoin, you can really see it as a digital currency, created by an algorithm, and shared between all miners.
However, you don't necessarily have to understand how this technically works, depending on what you want to do here!
I can't agree with you actually...
The blockchain is not connecting all computers. It is rather a huge chain, shared by all users. It is build up by miners, who are supposed to check all transactions. Though, it is not something tangible, so I can understand that the concept may be hard to grasp...
As for bitcoin, you can really see it as a digital currency, created by an algorithm, and shared between all miners.
However, you don't necessarily have to understand how this technically works, depending on what you want to do here!
Thanks for the clarification, I was just interested and wanted to learn more about bitcoin.
There is a lot of misunderstanding and confusion when it comes to bitcoin. Mainly because it is relatively new and now it became popular in the mainstream media there have been lot of here say of how the bitcoin works.
I am new when it come to bitcoin but I have read some articles about it. This is basically what I understand correct me please if I am wrong
I have read that it is not a code or a data that can be stored and downloaded but it is more like a mutual agreement. Is that right?
And that all transaction is stored in the blockchain, which is a connection of all the computer which is running a bitcoin client.
This how I understand bitcoin.
I am new when it come to bitcoin but I have read some articles about it. This is basically what I understand correct me please if I am wrong
I have read that it is not a code or a data that can be stored and downloaded but it is more like a mutual agreement. Is that right?
And that all transaction is stored in the blockchain, which is a connection of all the computer which is running a bitcoin client.
This how I understand bitcoin.
There is a lot of misunderstanding and confusion when it comes to bitcoin. Mainly because it is relatively new and now it became popular in the mainstream media there have been lot of here say of how the bitcoin works.
I am new when it come to bitcoin but I have read some articles about it. This is basically what I understand correct me please if I am wrong
I have read that it is not a code or a data that can be stored and downloaded but it is more like a mutual agreement. Is that right?
I am new when it come to bitcoin but I have read some articles about it. This is basically what I understand correct me please if I am wrong
I have read that it is not a code or a data that can be stored and downloaded but it is more like a mutual agreement. Is that right?