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neoneros
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April 08, 2015, 02:22:35 PM |
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The BTClockchain(tm), it puts the bank in YOUR pocket!  |
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sana54210
Legendary
 Offline
Activity: 3346
Merit: 1128
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April 08, 2015, 02:25:52 PM |
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I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
It is a public ledger that records all the transactions of Bitcoin. It is public and keeps the movement of Bitcoin as transparent as possible. |
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Raize
Donator
Legendary
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Activity: 1419
Merit: 1015
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April 08, 2015, 02:57:31 PM |
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The solution of the epic bizantine general problem.
For people familiar with computer science and/or mathematics, I've actually used this as a description. We can say that the blockchain is a 6 year old experiment that verifies a proof-of-work chain is a sufficient solution to the Byzantine Generals' Problem. |
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Bitcoinpro
Legendary
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Activity: 1358
Merit: 1000
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April 10, 2015, 05:29:46 AM |
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I know there was one altcoin (was it Vericoin?)which had a lot of coins stolen from an exchange and the exchanges and miners got together and rolled back the blockchain so that the thief lost their coins.
Presumably that is possible with Bitcoin? That would require collusion of everyone running a copy of the blockchain to suddenly switch to a new one AND for miners to actually mine on it. I don't see any conceivable way people would support a hard fork like that, look at the controversy over Gavin's idea to merely increase the block size as an example of how hard it is to convince people to make a single development change. thats why some altcoins are worthless any altering of the blockchain is forbidden, whats needed is coinbase type insurance products to help protect from theft |
WWW.FACEBOOK.COM
CRYPTOCURRENCY CENTRAL BANK
LTC: LP7bcFENVL9vdmUVea1M6FMyjSmUfsMVYf
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amaclin
Legendary
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Activity: 1260
Merit: 1019
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April 10, 2015, 05:43:22 AM |
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What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Ponzi |
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--Encrypted--
Copper Member
Legendary
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Activity: 924
Merit: 1007
hee-ho.
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April 10, 2015, 05:52:03 AM |
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A database that anyone can use to see any bitcoin transaction.
that makes it easy for people to understand.
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s1ng
Legendary
Offline
Activity: 1218
Merit: 1001
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April 11, 2015, 02:37:26 PM |
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The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
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redsn0w
Legendary
Offline
Activity: 1778
Merit: 1043
#Free market
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April 11, 2015, 02:40:07 PM |
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The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion). |
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Mehek
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April 11, 2015, 02:51:32 PM |
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secured network,public ledger
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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April 11, 2015, 02:53:50 PM |
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The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion). They often do. That's why the online wallet should have been named differently. It is actually not good nor are any online wallets. I'd say it is a transparent and secure public ledger. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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pereira4
Legendary
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Activity: 1610
Merit: 1183
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April 11, 2015, 05:00:24 PM |
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The ultimate dream for transaction of value.
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maku
Legendary
Offline
Activity: 1288
Merit: 1000
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April 11, 2015, 05:06:24 PM |
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The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion). They often do. That's why the online wallet should have been named differently. It is actually not good nor are any online wallets. I'd say it is a transparent and secure public ledger. There are opinions claiming that block chain is not secure as we may think, and in fact is quite vulnerable to attacks. You may want to check that here: https://bitcointalk.org/index.php?topic=1021233.0As for me: Blockchain is just database of all bitcoin transactions. |
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CIYAM
Legendary
Offline
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
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April 11, 2015, 05:13:39 PM |
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redsn0w
Legendary
Offline
Activity: 1778
Merit: 1043
#Free market
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April 11, 2015, 05:22:14 PM |
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The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion). They often do. That's why the online wallet should have been named differently. It is actually not good nor are any online wallets. I'd say it is a transparent and secure public ledger. There are opinions claiming that block chain is not secure as we may think, and in fact is quite vulnerable to attacks. You may want to check that here: https://bitcointalk.org/index.php?topic=1021233.0As for me: Blockchain is just database of all bitcoin transactions.Yes of course but do you know that you can save data (img, txt file, etc..) on a blockchain using the OP_return? So it is not only a database for save bitcoin transaction, but it is more than that thing  . The usage of blockchain in the next few years will improve... |
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WhatTheGox
Legendary
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Activity: 812
Merit: 1000
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April 11, 2015, 06:11:48 PM |
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I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
A transparent secure network which allows trade without the need for government or central bank. |
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neurotypical
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April 11, 2015, 08:35:02 PM |
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An impenetrable bunker open to anyone that wants to freely trade in the middle of the financial doomsday.
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Unbelive
Full Member
Offline
Activity: 210
Merit: 100
Invest & Earn: https://cloudthink.io
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April 11, 2015, 10:34:32 PM |
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I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
Bitcoin infrastructure? |
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kpitti
Legendary
Offline
Activity: 924
Merit: 1002
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April 12, 2015, 03:54:26 PM |
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My understanding of blockchain:
Ledger which store all of Bitcoin transactions, which is open and free to everyone all the time just with access to the Internet.
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Mehek
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April 12, 2015, 03:59:15 PM |
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Trustful and verified network...
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mangodream
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April 12, 2015, 04:13:33 PM |
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One of the first website that hasn't to be ashamed and who has suffered no attack since its creation.
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