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Author Topic: 2013-03-22 Leading Company 'Who benefits from the extraordinary rise of Bitcoin'  (Read 764 times)
Manticore
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March 22, 2013, 03:55:55 AM
 #1

http://www.leadingcompany.com.au/technology/who-benefits-from-the-extraordinary-rise-of-bitcoin/201303224030
"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi
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grondilu
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March 22, 2013, 11:12:54 AM
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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
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March 22, 2013, 02:53:33 PM
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Quote
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.

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