Hello,

thanks a lot for your reply. I will take a look at the explorer.

Best regards,

Tolerius

Hello,

I'm writing a paper for myself in order to understand how bitcoin works. I have a serious problem of understanding the transactions. According to definition of public key cryptography, Elliptic Curve Digital Signature Algorithm and Nakamoto's paper, a transaction consists of the previous transaction plus the payee's public key in the hash function, which is signed by payer's private key to confirm the change of owner rights. At least this is what I understand.

The definition of Transactions in bitcoin wiki is a little different than that. It also says that nothing in the network is encrypted. Could someone please explain me how a transaction works? Thanks in advance.

I don't think MTGox would attempt to move his pinky toe to steal 300 BTC from a new user. I've read your other post about it. I'm sorry, I would rage if something like that happened to me. The only issue is, there is no way that MTGox could get your Bitcoins back. Perhaps using strange passwords like S%E$zE%$zE$z4za4Z37347arzhyU%$632q23TQ<a§"% could help you in the future.

Well the first thing that I would do would be asking a lot of questions in technical discussion.

I really don't think that Bitcoin economy with its ~25 million $ volume is any threat to any government or bank. We have a low profile for now. Let's see what happens if the volume is > 1000 million $. Then it's going to be a real problem for governments especially because of money laundering and tax evasion.

The entire universe is based on survival of the fittest. If Bitcoins can not survive the attacks from outside, some other crypto currency will evolve with better defenses. The future is crypto currency. Every destruction till then is just a lessons learned.

i think that day will come. I am working on something and im pretty sure that some of us have really good ideas to attract average joe to bitcoins. if those ideas pop out of nowhere the price will be even higher than the introduction of silkroad...

Please define free...

Hi,

im Tolerius and I have been following the forums as well as the bitcoin economy for a couple of months. Pity that i need to post 5 replies in newbie forum before i can start a topic in technical discussion. I have a very interesting question