How Does Bitcoin Work? Bitcoin Explained for Beginners
How Bitcoin Works - Investopedia
What is a Bitcoin and How Does Bitcoin Work? Complete Guide
How bitcoin transactions work Get Started Bitcoin.com
Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
Theory of Bitcoin is a mildly navel-gazing space for inquiring into what makes Bitcoin work as a currency, why it's a better currency than the others, and what we in a community can do to help make it better.
Here's some stuff so that people reading will understand where I am in my knowledge of BTC (you can judge for yourself if my level is shit or mid-level).
I get there's a max limit on the supply of btc
I get what private keys are and how they generate public keys via elliptic curves, thus I know how to store btc on a hardware wallet like a Trezor
I get that btc and crypto in general is programmable money which means it's a platform in which things that I can't even fathom will be built (similar to how no one could see social media be a thing in 1990).
I have a general understanding of economics and the properties of what makes a currency a currency
There's more but this should give you enough of an idea
---------------- SKIP TO HERE IF YOU DON'T GIVE A FOOK ABOUT JUDGING OTHERS ---------------- QUESTION: Bitcoin is at best neutral but most likely slightly biased towards being deflationary mainly through people misplacing/losing their Bitcoin. Now there's a certain group of people that believe Bitcoin could replace currently existing fiat currencies but I don't understand this. Being able to print currency seems to be a primary need for existing economic structures to work (I realize this reason does not imply that other economic structures can't work) since inflation works as an incentive to invest current dollars today. But since Bitcoin is most likely deflationary, how can this ever replace fiat currency? My current belief is that Bitcoin (at least for the next 30-50 years) will be something that will work alongside fiat currencies. In fact, I think fiat currencies will be built on top of the bitcoin network and in some cases use bitcoin to perform large transactions. So what am I missing? How can Bitcoin ever replace fiat currencies given it's fundamental constraint of having a supply limit?
I was wondering in some ways can bitcoin and other crypto work as forex as well? I haven’t really tested out this theory but it is just something that I thought of. So say buy BTC with USD, and BTC to EURO or other currency that is available? I am guessing for this to work then you will need two different account that can respectively trade in the currency. Thank you for the inputs!
I became fascinated by bitcoin back in 2014 and the same fascination never went away. Because of that, I wrote a short book on how cryptocurrencies work and how an ordinary person can invest in the same space. The result, called The Crypto Mindset, is today free on Amazon.
I'm proud to present to you Bitcoin Cash in dominoes!! It was super fun to build, hope you will enjoy it! BCH donations to support my work are appreciated so I can make even bigger projects! qqsm7d4n7raeghhpjwyntv562rumulsq4qjrsxe9a9
How Bitcoins Work . Bitcoins are completely virtual coins designed to be self-contained for their value, with no need for banks to move and store the money. Once bitcoins are owned by a person, they behave like physical gold coins. They possess value and trade just as if they were nuggets of gold. Bitcoins can be used to purchase goods and services online with businesses that accept them or ... In order for the Bitcoin system to work, people can make their computer process transactions for everybody. The computers are made to work out incredibly difficult sums. It can be used to buy or sell items from people and companies that accept bitcoin as payment, but it differs in several key ways from traditional currencies. Most obviously, bitcoin doesn’t ... How bitcoin transactions work Individuals, businesses, developers: learn from our simple Bitcoin guides. How Bitcoin works, what is Bitcoin, what is blockchain, how to buy Bitcoin, what is Bitcoin mining and more. How does bitcoin work? Bitcoin is a cryptocurrency that is conducted on a public ledger, the "blockchain." Digitally transferred, it exists only online. Much like gold, it can have monetary value ...
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