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Title: Bitcoin Quiz Merit Reward (Newbie to Sr. Member) Post by: Daboy_Lyle on April 04, 2018, 03:52:18 PM Let's have some fun by answering some bitcoin stuffs.
RULES
Reward sponsor much appreciated. Let's begin the quiz! Question: 1. About 1,800 new bitcoins are mined each week. It can take 1.7 billion attempts to unlock a new bitcoin. The work must be proved before a bitcoin is added to the chain. Where are the bitcoin mines?Why? Code: ANSWER:Bitcoin mines are at where the electricity is cheap, and it does worth mining, simple as that. The cheapest power is at: 2. Bitcoin takes a lot of computer power to mine and to trade. It requires a lot of electricity to run those computers, which in turn generate enormous amounts of heat. Should the world be worried about pollution from the bitcoin mines? Code: ANSWER: 3. Is Bitcoin vulnerable to quantum computing? Code: Answer: 4. Will bitcoin platforms attract developers? Why? Code: Answer See also this Merit Service (https://bitcointalk.org/index.php?topic=3345897) Users that already answered the past questions will not more allowed to join this quiz. Users who've got the correct answers on past questions. 1. Bencus (https://bitcointalk.org/index.php?topic=3257143.msg33948299#msg33948299) (Question No. 1) 2. bitmover (https://bitcointalk.org/index.php?action=profile;u=1554927) (Question No. 2) 3. theyoungmillionaire (https://bitcointalk.org/index.php?action=profile;u=1180530) (Question No. 3) Title: Re: Bitcoin Quiz Merit Reward Post by: Vod on April 04, 2018, 03:56:14 PM It can take 1.7 billion attempts to unlock a new bitcoin. ? Not true at all. Modern hardware can hash that in a second. The average bitcoin takes 10 minutes. Title: Re: Bitcoin Quiz Merit Reward Post by: Daboy_Lyle on April 04, 2018, 03:59:09 PM It can take 1.7 billion attempts to unlock a new bitcoin. ? Not true at all. Modern hardware can hash that in a second. The average bitcoin takes 10 minutes. Title: Re: Bitcoin Quiz Merit Reward Post by: apoorvlathey on April 04, 2018, 04:08:24 PM The answer to this question I guess is China. Why ? Because of abundance of Hydropower.
They banned bitcoin for a while and now ICOs . It can take 1.7 billion attempts to unlock a new bitcoin. ? Not true at all. Modern hardware can hash that in a second. The average bitcoin takes 10 minutes. The Mining is a guessing game in which the mining rig has to brute force to get bitcoin confirmed. Sure they may take a second to solve it but the attempts to crack the hash is 1.7 billion (according to op). Title: Re: Bitcoin Quiz Merit Reward Post by: suchmoon on April 04, 2018, 06:09:29 PM The OP is a merit beggar. Merit farming seems to be the purpose of this exercise.
Title: Re: Bitcoin Quiz Merit Reward Post by: marlboroza on April 04, 2018, 06:51:28 PM The OP is a merit beggar. Merit farming seems to be the purpose of this exercise. Is this question number 3?Title: Re: Bitcoin Quiz Merit Reward Post by: rehydrogenated on April 04, 2018, 07:46:37 PM 1.
About 1,800 new bitcoins are mined each week. It can take 1.7 billion attempts to unlock a new bitcoin. The work must be proved before a bitcoin is added to the chain. Where are the bitcoin mines?Why? Answer: The bitcoin mines are mainly placed near cheap power sources, although somewhat less common is miners setting up in localities that subsidize power consumption or contract deals with miners directly who pay a greatly reduced rate for power. The most common areas are around hydroelectric power in China, the US and the EU. 2. Bitcoin takes a lot of computer power to mine and to trade. It requires a lot of electricity to run those computers, which in turn generate enormous amounts of heat. Should the world be worried about pollution from the bitcoin mines? Answer: Yes, we should be worried about the pollution generated from bitcoin miners. The difficulty level bitcoin is at and even the way mining works was not invented assuming the current massive demand for bitcoin. Literally hundreds of coins and tokens have managed to solve the pollution problem bitcoin has. The only thing stopping bitcoin is the strong centralized miners that are trying to keep fees high and maintain control and domination over the bitcoin community. Title: Re: Bitcoin Quiz Merit Reward Post by: Bencus on April 04, 2018, 07:56:36 PM 1. Bitcoin mines are at where the electricity is cheap, and it does worth mining, simple as that. The cheapest power is at:
India, $0,08/kWh China, $0,09/kWh But this is an average, it may vary even in the country. But usually you can hear about Chinese and Russian Bitcoin farms. From these two information sources, I'd say most of the bitcoin mines are in China. At least the half. Also, if a mining farm obtains power not from the grid, but straight from the power plant, it means cheaper power, because of bypassing plenty of fees. These fees cointain: Acquisition/sales, Grid fee, Value-added tax, Concession fees, Electricity tax, and may be others. This way, you can mine anywhere in the world, where you can get cheap enough electricity this way. Some mining companies even do this, for example Envion. So there is no exact way/location to answer this, but to say that it can be anywhere in the world where the electricity is cheap enough. 2. Bitcoin mining's current estimated daily electricity consumption is 161913828 kWh. Yearly, that is around 59,4 TWh. That is a lot, equivalent of Columbia's electricity consumption. A country with population almost reaching 50 million. And it is not even the biggest problem. It is not the amount of electricity needed, but where is this electricity comes from. With more then half of the mining done in China, where around 60% of the electricity is from coal, we can see that the mining is powered by electricity, produced in a dirty, polluting way. For example, Bitmain Technologies runs a server farm in China, which runs on electricity produced in coal power plants. It is hard to say how polluting Bitcoin production is, but I believe with merit order, it would be possible to see how much it really adds to the pollution. If we substract the power from bitcoin mining, it would be easy to see how much pollution it really creates. However this needs to be done in multiple regions, to get accurate data. Also, acquiring the data would require some connections at the local electricity companies, so I think it would be hard for a single person to analise the pollution of Bitcoin mining. But all in all, Bitcoin certainly uses substantial amount of energy, and undoubtedly creates immense pollution. Title: Re: Bitcoin Quiz Merit Reward Post by: GaretJohanKay on April 04, 2018, 11:18:18 PM 2. Adding to the other answers. The answer is: In the present Yes but in the Future not In the present because most miners take electricity from coal plants something that prior answers have been already said. In the future not. for the next reasons:
1 There are already farms in China that uses hydroelectric power 2.There is a company called HydroMiner This established its first facility in Schönberg, Austria, which draws a base energy output of 290 kWh for its 120 mining units. Their second mining farm in Waidhofen an der Ybbs, Austria, receives a consistent supply of 600 kWh for its 250 Antmine 29s and 1152 GPUs. 3. The pollution can be comepensated by using the warmth generated to heat the water https://www.youtube.com/watch?v=9WD8OOsyZzg Another example Qarnot QC-1 "crypto heater" takes advantage of an obvious synergy: It makes use of the waste heat generated by mining crypto in the guise of an attractive space heater. Myera Group The heat from the miners warms the greenhouse plants, while nitrate-rich wastewater from the fish tanks keeps them watered. Title: Re: Bitcoin Quiz Merit Reward Post by: bitmover on April 04, 2018, 11:33:17 PM I will give another possibility for answer number 2.
2 - No. Bitcoin energy consumption is more a solution than a problem. Bitcoin is mainly mined where electricity is cheap. We have cheap electricity where it's plentiful and abundant, not where it's scary. In other words, excess energy produced is being directed to bitcoin mining. We cannot store energy, and when energy plants are build they produce more energy than required, so they can supply the region for some time. Also, as Bitcoin adoption grows it can hasten renewable energy development and adoption. Bitcoin mining can be an environmental subsidy to alternative energy all around the world because it's causing these projects to be amortized over a year instead of five. It's very easy to criticize bitcoin mining because it's too obvious. More obvious than the energy consumption of Visa, for example, which not everyone is aware of how much energy they consume. More information about here: https://www.youtube.com/watch?v=2T0OUIW89II (Andreas Antonopoulos.) That are claims that Christmas lights consumes as much energy as bitcoin mining. http://www.coindaily.co/2017/12/14/christmas-decorations-consume-as-much-electricity-as-bitcoin-mining/ Title: Re: Bitcoin Quiz Merit Reward Post by: Vod on April 05, 2018, 12:56:37 AM It can take 1.7 billion attempts to unlock a new bitcoin. ? Not true at all. Modern hardware can hash that in a second. The average bitcoin takes 10 minutes. Could you tell me what that even means? Title: Re: Bitcoin Quiz Merit Reward Post by: Daboy_Lyle on April 05, 2018, 02:35:21 AM The OP is a merit beggar. Merit farming seems to be the purpose of this exercise. First of all this is not merit farming. Could you tell me what that even means? The question is already answered. Code: ANSWER:Bitcoin mines are at where the electricity is cheap, and it does worth mining, simple as that. The cheapest power is at: Title: Re: Bitcoin Quiz Merit Reward Post by: mocacinno on April 05, 2018, 05:51:46 AM It can take 1.7 billion attempts to unlock a new bitcoin. ? Not true at all. Modern hardware can hash that in a second. The average bitcoin takes 10 minutes. I saw this post last night while i was browsing the forum on my mobile phone, and i saved because i just had to reply to it... I do not mean to derail your thread, i have no problems with what you're doing (in fact, i kind of like the initiative), but i really can't let big technical errors slide without correcting them. The formula to calculate the AVERAGE profit is: 24 / (D * 2^32 / (H * 10^6) / 60 / 60) * C = BTC/day where D = Difficulty H = MHash/s C = Reward (currently 12.5 BTC) (i didn't invent this formula, i saved it from somebody on this forum a long time ago, but i cannot remember who it was). You are claiming that it takes 1,700,000,000 "attempts" to "unlock" a new bitcoin... Since the current block reward is 12.5 BTC, you claim you'd need an average of 1,700,000,000 * 12.5 = 21,250,000,000 hashes to find a block header whose sha256d hash is under the current target. Since the difficulty gets adjusted so, on average, 1 block gets solved every 10 minutes, the hashrate per second would be: 21,250,000,000/600 = 35,416,667 hashes/second =~ 36 Mh/s This means that your claim can be reduced to saying that if somebody was running a machine at 36 Mh/s, he'd have controll over the complete network's hashrate and find, on average, 6 blocks/hour = 144 blocks/day... 144 blocks = 144*12.5 BTC = 1800 BTC Revese proof that a hashrate of 36Mh is the correct assumption: 36,000,000 h/s*600s = 21,600,000,000hashes 21,600,000,000 hashes / 12.5 BTC = 1,728,000,000 hashes/BTC 1,728,000,000 hashes/BTC = 1.7 billion hashes (attempts) to "unlock" one bitcoin Now... Let's look at the reality and plug this hashrate in the formula above: 24 / (3,511,060,552,899*2^32/(36*10^6)/60/60)*12.5 = 24/ 116,357,177,847 * 12.5 = 0.000000002578 BTC/day So, VOD was right saying that is is untrue to claim that it takes 1.7 billion attempts to unlock a new bitcoin Title: Re: Bitcoin Quiz Merit Reward Post by: icohunter1024 on April 05, 2018, 06:02:47 AM I think the amount of heat it generates is huge, so it's no coincidence that the largest bitcoin mines are located in colder countries and do not have very high environmental taxes.
Title: Re: Bitcoin Quiz Merit Reward Post by: Ginzink on April 05, 2018, 10:49:18 AM The OP is a merit beggar. Merit farming seems to be the purpose of this exercise. That is exactly what i thought. High ranking members making threads like this have gotten a lot of merit. But i gotta hand it to you, it is a well performed attempt on getting some merit! And actualy somewhat usefull, i like theese threads :) Title: Re: Bitcoin Quiz Merit Reward Post by: EzBreezy on April 05, 2018, 02:19:59 PM 2. Bitcoin takes a lot of computer power to mine and to trade. It requires a lot of electricity to run those computers, which in turn generate enormous amounts of heat. Should the world be worried about pollution from the bitcoin mines? Code: ANSWER: Title: Re: Bitcoin Quiz Merit Reward Post by: Bencus on April 05, 2018, 06:22:33 PM I will give another possibility for answer number 2. 2 - No. Bitcoin energy consumption is more a solution than a problem. Bitcoin is mainly mined where electricity is cheap. We have cheap electricity where it's plentiful and abundant, not where it's scary. In other words, excess energy produced is being directed to bitcoin mining. We cannot store energy, and when energy plants are build they produce more energy than required, so they can supply the region for some time. Also, as Bitcoin adoption grows it can hasten renewable energy development and adoption. Bitcoin mining can be an environmental subsidy to alternative energy all around the world because it's causing these projects to be amortized over a year instead of five. It's very easy to criticize bitcoin mining because it's too obvious. More obvious than the energy consumption of Visa, for example, which not everyone is aware of how much energy they consume. More information about here: https://www.youtube.com/watch?v=2T0OUIW89II (Andreas Antonopoulos.) That are claims that Christmas lights consumes as much energy as bitcoin mining. http://www.coindaily.co/2017/12/14/christmas-decorations-consume-as-much-electricity-as-bitcoin-mining/ No. What you are saying is not true. Abundant electricity? Excess energy? That is not how the electric grid works. You need to produce the exact same amount of electricity, that is demanded every single second. If you produce more, the frequency increases, if you produce less, it decreases. 0,1% difference is tolerated in my country, and I believe in whole Europe. Also, You are right about Visa having hidden electricity costs, but I believe something similar to a Life Cycle Assessment could be carried out to find out the truth. I watched the video you linked, and now I see where you got your ideas from. Sadly, what this guy says, is partially wrong. There are some things he gets right, but there are so many points he gets wrong. If you build a power plant with the capacity of 50MW, it will not produce 50MW all the time. The output can be regulated. Even if the power plant is based on alternative/renewable energy sources like wind, solar or hydro. Also, you can turn these power plants off, this person was wrong at that point, too. You can shut down windmills, as they usually do in heavy winds to prevent damage, or when would be too much power produced. You can easily regulate a hydro power plant. Also, pumped hydro is the most common way to store energy (yes, it is possible to store energy, which is relevant in the energy sector). I believe you can do it with solar panels aswell. And I'm curious why this person, Andreas, have little to no idea about the basic concept of the electric grid, yet stands out, talks about it, spreading false ideas, and even puts it onto youtube. ::) Title: Re: Bitcoin Quiz Merit Reward Post by: bitmover on April 06, 2018, 02:01:51 AM No. What you are saying is not true. Abundant electricity? Excess energy? That is not how the electric grid works. You need to produce the exact same amount of electricity, that is demanded every single second. If you produce more, the frequency increases, if you produce less, it decreases. 0,1% difference is tolerated in my country, and I believe in whole Europe. Also, You are right about Visa having hidden electricity costs, but I believe something similar to a Life Cycle Assessment could be carried out to find out the truth. I watched the video you linked, and now I see where you got your ideas from. Sadly, what this guy says, is partially wrong. There are some things he gets right, but there are so many points he gets wrong. If you build a power plant with the capacity of 50MW, it will not produce 50MW all the time. The output can be regulated. Even if the power plant is based on alternative/renewable energy sources like wind, solar or hydro. Also, you can turn these power plants off, this person was wrong at that point, too. You can shut down windmills, as they usually do in heavy winds to prevent damage, or when would be too much power produced. You can easily regulate a hydro power plant. Also, pumped hydro is the most common way to store energy (yes, it is possible to store energy, which is relevant in the energy sector). I believe you can do it with solar panels aswell. And I'm curious why this person, Andreas, have little to no idea about the basic concept of the electric grid, yet stands out, talks about it, spreading false ideas, and even puts it onto youtube. ::) Well, what you are saying is not entirely true, even in Europe. Only on thermal and nuclear plants you can produce the exact amount of energy being demanded. And these are not the only types of electricity plants in the world. There are countries in Europe like Switzerland which they pump water from the base of the valley back to the top of the elevation, so they can sell this excess energy at peak hours of consume to another countries. If energy could be stored, that would not happen. Search about it on google you will find out. Indeed some are hydro plants are able to store energy, but not all of them. Not all hydro plant have a reservoir, actually some of the biggest of the world do not have. They are called Run-of-the-river hydroelectricity (https://en.wikipedia.org/wiki/Run-of-the-river_hydroelectricity). The biggest one in Brazil (Itaipu), and one of the biggest in the world, is one of this kind of hydro plant. These kind of hydro power plants just can´t store energy, and the amount of energy produced cannot be controlled. Even if bitcoin is not be produced from excess energy, it can still be a sponsor of alternative energy sources. As cryptomining is profitable, people could buy solar panels (which can be shut down, but there is no reason to do so, and you cannot store solar energy) and use the excess energy produce to mine. I think Antonopoulos sometimes speaks too much, but he is very knowledge about crypto and respected in crypto community. Maybe he made a few mistakes in that video, but he has a point. Just saying bitcoin is just bad for the environment is just false and hypocrisy. Title: Re: Bitcoin Quiz Merit Reward Post by: Daboy_Lyle on April 06, 2018, 02:11:02 PM Since I got short of sMerit I will lock the topic and reopen it soon. Thanks for joining and giving your answers. Users who already answered the question and been merited will not be able to join the quiz again. Hope to open this again sooner.
Update : TOPIC UNLOCKED Title: Re: Bitcoin Quiz Merit Reward Post by: Daboy_Lyle on April 22, 2018, 03:26:12 AM Question No. 3
Is Bitcoin vulnerable to quantum computing? Code: Answer: Title: Re: Bitcoin Quiz Merit Reward Post by: bitmover on April 22, 2018, 12:25:53 PM Question No. 3 Is Bitcoin vulnerable to quantum computing? Code: Answer: Not really. The could solve proof of work faster, but the puzzle difficult can be increased. The biggest threat is that they could break public keys cryptography and discover the privatekey. According to some articles that would need high investment and would still take decades to make this a low cost operation. By that time cryptography is going to develop better signatures schemes too. https://www.forbes.com/sites/amycastor/2017/08/25/why-quantum-computings-threat-to-bitcoin-and-blockchain-is-a-long-way-off/#7bb9c4762882 Title: Re: Bitcoin Quiz Merit Reward Post by: theyoungmillionaire on April 22, 2018, 12:40:51 PM Question No. 3
Is Bitcoin vulnerable to quantum computing? Code: Answer: Title: Re: Bitcoin Quiz Merit Reward Post by: fokinlipat on April 22, 2018, 12:52:55 PM Question No. 3
Is Bitcoin vulnerable to quantum computing? No one can answer this exactly as we are talking about something that does not exists. There is certainly a possibility of bitcoin facing troubles with quantum computing. We should remember that current bitcoin encryption is based on the fact the computers available today are not able to break it. But, quantum computers will be faster as they use qubits instead of bits and therefore bitcoins may be vulnerable to quantum computing. It will not affect the past transactions though in my opinion. Title: Re: Bitcoin Quiz Merit Reward Post by: uranma on April 22, 2018, 02:00:27 PM Question No. 3 Is Bitcoin vulnerable to quantum computing? Code: Answer: Is it ? No, because it is not available in present . :) Can it happen in future ? Better the developers focus on current problems instead of worrying about hypothetical situations. Title: Re: Bitcoin Quiz Merit Reward Post by: Bencus on April 24, 2018, 08:43:23 AM Its great to see this thread being open again, had some thoughts, which I could not post because of the lock.
Well, what you are saying is not entirely true, even in Europe. Only on thermal and nuclear plants you can produce the exact amount of energy being demanded. And these are not the only types of electricity plants in the world. You need to produce the exact amount of energy on the grid, it is achieved with the regulation of the sum of the power plants. Almost every power plant's output can be regulated to a certain degree, the real question is how quickly can you regulate this output. For example, nuclear power plants with huge steam turbines are actually really slow in this aspect, whereas gas turbines tend to be quicker, with coal-fired steam turbines falling in between them. It is worth noting, that modern power plants with gas turbines are really quick to start, and is pretty easy to regulate the load. But other power source's output can theoritically be regulated, for example there are bypass tubes in hydro power plants (maybe not all of them), or you can shut down individual wind turbines, etc. as I described earlier. It is not often used though, as the power these plants produce is so cheap. There are countries in Europe like Switzerland which they pump water from the base of the valley back to the top of the elevation, so they can sell this excess energy at peak hours of consume to another countries. If energy could be stored, that would not happen. Search about it on google you will find out. Indeed some are hydro plants are able to store energy, but not all of them. Not all hydro plant have a reservoir, actually some of the biggest of the world do not have. They are called Run-of-the-river hydroelectricity (https://en.wikipedia.org/wiki/Run-of-the-river_hydroelectricity). Yes exactly, you described pumped-storage hydroelectricity, what I referred as "pumped hydro". They really pump water up to a higher elevation, then they let that water flow down through a turbine, which generates electricity. This is a way of storing power, and actually, 96% of the power storage capacity is pumped hydro. Take a look at this wiki page: https://en.wikipedia.org/wiki/Pumped-storage_hydroelectricity (https://en.wikipedia.org/wiki/Pumped-storage_hydroelectricity) Also, in this two paragraphs, I felt you had opposing statements about energy storage, which I highlighted. Even if bitcoin is not be produced from excess energy, it can still be a sponsor of alternative energy sources. As cryptomining is profitable, people could buy solar panels (which can be shut down, but there is no reason to do so, and you cannot store solar energy) and use the excess energy produce to mine. Well you can't store energy at your home really cost-efficiently, but there are battery storages, for example the Tesla Powerwall, which was designed to store electricity. And is often used with solar panels. And actually, it does not matter where the electricity comes from, you can store it anyways. I think Antonopoulos sometimes speaks too much, but he is very knowledge about crypto and respected in crypto community. Maybe he made a few mistakes in that video, but he has a point. Just saying bitcoin is just bad for the environment is just false and hypocrisy. He might be very knowledgeable about crypto, and be respected, but he got some things wrong. I'm sorry if I sounded a bit hostile, but the false ideas he had about how the power grid works was something I needed to correct. But I dont think he has a right point. He would have a point, if bitcoin mining would play a role in balancing the loads on the power grids - which is a really interesting idea, but nothing that exists. Basically any power consumer could be considered green using his logic. It is just not correct. Lets get some things right. Every electricity consumer is polluting the world. Nothing is green about mining Bitcoins. It is not a hypocrisy. Title: Re: Bitcoin Quiz Merit Reward Post by: Daboy_Lyle on April 28, 2018, 12:38:26 AM Congratulations to the last winners!
Let's move to another question. Question No. 4. Will bitcoin platforms attract developers? Why? Code: Answer: Title: Re: Bitcoin Quiz Merit Reward (Newbie to Sr. Member) Post by: theyoungmillionaire on April 28, 2018, 05:56:12 AM Yes, it will attract developers. Bitcoin platforms help many people in terms of financial transactions. It is very user friendly & cost-efficient. I am sure many developers are now attracted with bitcoin platforms, not just because of its monetary influence but the additional knowledge it will bring to developers.
Title: Re: Bitcoin Quiz Merit Reward (Newbie to Sr. Member) Post by: posi on April 28, 2018, 06:24:39 AM Yes, bitcoin attracts developer's because bitcoin is the first decentralized current and every key node of it rely on the internet and developer. Besides, it confirmation was executed through the work of millions of computers all around the world using the program made for calculating of mathematical algorithms I.e programme created by developer. The more the developers provide update algorithms calculator for the mining sector the more money in his/her pocket and the more tx network.
Title: Re: Bitcoin Quiz Merit Reward (Newbie to Sr. Member) Post by: PrinceFury on April 29, 2018, 05:24:28 AM Quote Will bitcoin platforms attract developers? Why? Definitely yes , because the cryptocurrency market is on demand and seems to be obssesed as of the moment. Many developers knows the potential of bitcoin platforms which is many company and project owners are demands with it. It's not about monetary compensation but changing the world for a better future. It is so very challenging to those developers because of this crypto algorithm. It will bring more information and additional knowledge to them that make them more efficient. Title: Re: Bitcoin Quiz Merit Reward Post by: r1s2g3 on April 29, 2018, 06:56:37 AM Question No. 4. Will bitcoin platforms attract developers? Why? Code: Answer: I think if you are pointing to BlockChain then you are little late in asking this question because many big compaines already started/investing/invested on the blockchain technology. Below link provide the list of major companies: https://interestingengineering.com/these-20-companies-are-placing-big-bets-on-blockchain-technology But this list is not all inclusive as there are many companies I know (from my friends) that are already implementing/implemented the Blockchain based solutions. R3 Corda (http://www.r3cev.com/blog/2016/4/4/introducing-r3-corda-a-distributed-ledger-designed-for-financial-services) already created the the distributed ledger financial service (that goes way back to 2016) and they are partnered with more than 60 companies. (https://www.r3.com/news/r3s-corda-partner-network-grows-to-over-60-companies-including-hewlett-packard-enterprise-intel-and-microsoft/) (that is way back to Nov 2017). So it already attracted the companies and investors and this will going to expand much further. Why? Blockchain is very secure and distributed and can be configured as per need. (https://hackernoon.com/3-popular-types-of-blockchains-you-need-to-know-7a5b98ee545a) Title: Re: Bitcoin Quiz Merit Reward Post by: Alone055 on April 29, 2018, 12:39:14 PM Question No. 4. Will bitcoin platforms attract developers? Why? Code: Answer: It already has. I have recently watched a documentary about Bitcoin, where different people talk about the technology and how useful it can be. Its decentralized nature, and many other features can be used for many purposes if adopted and re-coded as per the needs of an industry. The people in that documentary say that the best thing about Bitcoin and Blockchain is not its price or worth, but the technology itself which is worth adopting for sure. Link to the documentary I have mentioned: https://www.youtube.com/watch?v=LszOt51OjXU Title: Re: Bitcoin Quiz Merit Reward Post by: izay on April 29, 2018, 02:03:00 PM Congratulations to the last winners! Let's move to another question. Question No. 4. Will bitcoin platforms attract developers? Why? Code: Answer: Bitcoin platforms greatly attract more developers, as we all knew, bitcoin is most popular and trending cryptocurrency on different angles of the world. It is the most talk about and hottest issue in crypto industry of all times. Many individuals gets interested in it because they all believe with bitcoin they have future. As of now, different individuals including those elite people adopted bitcoin in their business agendas. |