2013-03-22 Leading Company 'Who benefits from the extraordinary rise of Bitcoin'

[Manticore]

http://www.leadingcompany.com.au/technology/who-benefits-from-the-extraordinary-rise-of-bitcoin/201303224030

[grondilu]

http://www.leadingcompany.com.au/technology/who-benefits-from-the-extraordinary-rise-of-bitcoin/201303224030

A single Bitcoin is essentially a number that satisfies a certain mathematical equation

Fail.

A bitcoin is a unit for an amount on an account.  It does not satisfy any more complex mathematical equation that a USD amount on a bank account does.

What does satisfy a complex mathematical equation is the transfer of this bitcoin from an account to an other.

[Timo Y]

http://www.leadingcompany.com.au/technology/who-benefits-from-the-extraordinary-rise-of-bitcoin/201303224030

A single Bitcoin is essentially a number that satisfies a certain mathematical equation

Fail.

A bitcoin is a unit for an amount on an account.  It does not satisfy any more complex mathematical equation that a USD amount on a bank account does.

What does satisfy a complex mathematical equation is the transfer of this bitcoin from an account to an other.

Yeah, that made me cringe too.

To be fair, it's not easy to explain the cryptography behind bitcoin in one short sentence.