Why do they feel it is necessary to send their opinion? NY laws concern only NY and the US.
You would think that NY laws only concern NY, but that is not the reality.
Exactly.
To be more precise, the actual NY Laws (the New York Financial Services Law) do concern only NY. But the BitLicense Proposal, which is to be a regulation promulgated pursuant to the laws, will cover the entire world as drafted.
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BoardPress
Re: [2014-08-21] China’s ‘Big Three’ Bitcoin Exchanges: Would Harm Overse
Very much looking forward to my trezor! I know a lot of people eager to buy one because they don't know how to safely store BTC.
That person is me. I generated my Electrum wallet on an old, offline computer with a clean Linux installation. But still, I keep thinking there might be some way I screwed up and just don't know it yet. Trezor will give me the peace of mind I need.
Re: Stupid question re: "script," "unspent outputs," and the divisibility of bitcoin
by
mcgullen
on 03/06/2014, 12:37:48 UTC
Thanks so much! I think I get it now.
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Stupid question re: "script," "unspent outputs," and the divisibility of bitcoin
by
mcgullen
on 02/06/2014, 21:36:59 UTC
Hi All,
I have a stupid question: I don't understand how one bitcoin can be divided into satoshis.
Based on my basic understanding of how bitcoin works, it seems like each bitcoin is associated with an address (a hash of someone's public key?) in the public ledgor (the block chain?). If this association happens at the coin level, how can a bitcoin be divided into satoshis that can be associated with different addresses?
The whitepaper suggests it has to do with "script," "inputs" and "outputs." But my brain explodes when I read this on the Bitcoin wiki:
Quote
Bitcoin uses a scripting system for transactions. Forth-like, Script is simple, stack-based, and processed from left to right. It is purposefully not Turing-complete, with no loops.
WTF?!
Can someone please point me to resources on bitcoin divisibility that are more easily understandable? Thanks!