Google translate is acting weird when I try to translate that link (translation shows up briefly then disappears). Here is a copy/paste of the translation:
Bitcoin - virtual currency, organized on the principle of p2p-networks, known to everyone familiar with torrents. CyberDengui seller receives from the buyer directly, just as users of BitTorrent trackers to share music or movies. The fundamental difference of electronic payment systems or online banking - there is no bank or an organization such as WebMoney, which can track the transaction and, say, report it to special services.
Argued that the system came up with Satoshi Nakamoto Japanese tehnobog. Personality is even more mysterious than the Julian Assange. In the case of the latter can guess what he actually wants, but it at least a real person, even with their sex scandals. Nakamoto also may exist only as texts on the Internet that make apologies ambitious project. In the article "Bitcoin: a peer-to-peer electronic cash system", he says, the modern Internet commerce, trust-based users to a financial institution, which monitors and carries out payment transactions at an impasse. The presence of a third party increases the cost of operations, but the main thing - it is possible to dual-use facilities. And even if the broker is honest, it can attack from the outside.
And because human guru cyberpunk. As soon as Sony Corporation managed to recover after a hacker attack, paralyzing its online services, the criminals went around the protection of electronic services Citigroup, stealing hundreds of thousands of these customers. In response to the arrest of Julian Assange international hacking group Anonymous is attacking payment systems MasterCard, PayPal and Visa, and in addition the bank PostFinance, because payment systems and credit organization blocked the collection of donations to WikiLeaks. Retribution is not gone and Amazon, the project failed to Assange hosting.
NATO declares war on "Anonymous." In early June, Spanish police detain three members of the group. But in a universe of cyberpunk good (if you count its agents servants of the law) does not win. "Challenging Anonymous, you make a terrible mistake - the hackers responsible for the NATO statement .- If you can cut off one of the heads of the hydra, in its place will be ten new. Grab one anonymous - our ranks augmented by ten new".
Against this background and develops Bitcoin. The system actually built not only on trust, but also on methods of cryptography, which provide anonymity of users. The possibility of fraud inherent in it is limited to the algorithms of mathematical probability: the system is stable, while honest users are the majority. A chance that the crooks disrupt stability, such as a drop-down four times zero on the roulette table.
Another key feature. The project is programmed to slow down emissions over time - in circulation will never be more than 21 million bitkoynov (BTC). This restriction shall prevent the devaluation of kibervalyuty. Why 21 million? Nobody knows. Just because the creator decided.
Something similar should appear, according to Alexei Smirnov, CEO of ALT Linux. The vast army of anonymous, which has long been a virtual life is more important than reality, we need a currency that is not tied to government commitments.
Use the application Bitcoin not harder than any torrent client. Only two buttons - "Send the coin" and "Address Book". Under them - the identification code wallet (set of letters and numbers), its balance sheet, information on incoming and outgoing transfers (status, date and description).
What lies behind austere interface? E-coin is a sequence of digital signatures of buyers and sellers. Each bitkoyn stores all transactions in which he had to participate. A signature can be placed on any bitkoyn, but the recipient of the coin (or more precisely, his computer) and check it rejects the operation if the coin does not belong to you. It can not be sure that the coin was not used by you or someone from the previous owners a few times.
That is theoretically possible to try to spend money that you have already spent up to this: According to Satoshi Nakamoto, it's the only way to fraud in the system (in theory can actually steal and kiberkoshelek, a few files on your hard drive, but it is assumed that the audience is able to protect the personal Bitcoin data). Therefore, computer users and engage in a constant confirmation of transactions. As a result, fair operation form chains. In the event of an attack (if unscrupulous users will confirm fraudulent transactions), the chain fork. Conscientious users by default complement the longest branch of the chain, so the true branch will grow faster, while bona fide computers in the system anymore.
"I hope that becomes a full bitkoyn payment instrument. I think it's much better than paper money, which impaired the growth of the economy"
Members are involved in the calculations for a reason - act bitkoyny reward. That's how it issues. The amount of remuneration depends on the complexity of which is directly proportional to the total computing power of Bitcoin-community. The more participants in the system, the easier it is to believe the smaller coins goes to everyone. The process is called extraction, in the original - mining. After mining ceases (now in the system of about 6 million coins left to issue another 15 million), the only means of income due to the contribution to the development of the system will collect voluntary committees.
Where did they come from, if there is no charge to intermediaries - one of the principles Bitcoin? The processing of transactions in the system can take a long time, up to several months. To speed up the process, you can translate a little more money than required by the seller, the difference will get the user who will process and confirm this action out of turn. The presence of rewards entices users to honest behavior: production and receipt of commissions profitable fraud.
For the average computer Mining - a bloody sport. Initially it was assumed that bitkoyny will make a processor capacity. One of the Russian miners, Permian programmer Alexander said, "Money," which as the first "mine", he used a regular MacBook. A year ago, with his help it was possible to earn fifty coins for a few days. But it soon became clear that a better fit for mining special processors for floating point operations - such put into the video card. Now, without such "hardware" is not enough - the cost of computing declines rapidly.
In April, the interlocutor "Money" has got AMD Radeon 6870 card for about 7 thousand rubles .- money back within a couple of weeks: Alexander bitkoyny sold at the rate of $ 6.5 for a BTC. There are online calculators that allow you to evaluate the potential income (one of them - www.alloscomp.com
/ Bitcoin / calculator.php ). Now this calculator will show that even the most powerful graphics card for the day will earn no more than 0,5 BTC.
"Why can not we assume that the project Bitcoin and created just the U.S. intelligence agencies? The fact that such is the WikiLeaks, I'm sure all these plums were needed the Americans to set fire to Arab arch"
If Alexander waited a couple of weeks have been able to help out more - soon took off course and $ 30 for kibermonetu. At the time of delivery rooms, "Money" was given about $ 20 per coin. Bitcoin apologists say that such jumps were predicted: early system are what makes miners and speculators who buy bitkoyny for resale. With Alexander we communicate in Skype, participates in a conversation one miner - Arsen. He also earns mostly programming, the emergence of Bitcoin regards as the beginning of the financial revolution. "I would speak as part of the economy, benefit from its growth - says the source," Money ".- In general, I hope that becomes a full bitkoyn payment instrument. I think it's much better than paper money, which impaired the growth of the economy. I'm only 20 bitkoynov. Not much, but it's better than a voucher in the era of privatization. " In the last month, Arsene bought four maynerskie card. They are packed in two system units and never switched off. At night they bring about two BTC.
All this stuff is, of course, noisy and hot. On maynerskih forums can be read anecdotal stories. Someone grabbed a dream heat stroke, well at least still alive: the room was a lot of system unit with overclocked cards. To the other, "the miner" raided by the police: power consumption has increased so that the guards suspected him of "growing hydroponics."
Enemies of the State
The official list of online stores that accept the money, can be found at en.bitcoin.it / wiki / Trade . In Silicon Valley, there are already billboards vendors that support kriptovalyutu. The page on Facebook Bitcoin published a photo of one of them: advertised online store of computer hardware memorydealers.com. Starting in the street, the advertising campaign continued in the national radio. Comments to the picture - entirely enthusiastic. Someone wrote: "I hope that something similar will appear at my house in Croatia."
But in fact deserving attention is almost no sales. Russian general, no. Online Stores from the list, which represent at least some interest, and take the traditional payment instruments. To participate in the project Bitcoin - marketing. This is mainly kibervalyutu sell computer hardware and software.
Not so easy to withdraw money from the system, that is, simply, to make bitkoyny in dollars. There is a Japanese Internet Exchange mtgox.com (daily turnover of transactions with bitkoynami recently exceeded $ 1.5 million). The coins can be sold at the current rate, or put your quote and wait for the buyer will be found. Exchange Commission - 0.6%. With mtgox.com money into the system are derived Liberty Dollars. For this will take about another 2%. After that - a bank account through one of the many heat exchangers. This is an expensive operation - 5%. That will have no less than 10%.
But the project only two years. When a virtual means of payment will certainly become widespread, according to Artyom Genkin, executive director of the consulting group "Aspect", a full member of RANS. True, there will be kibervalyuty, which monopolizes the whole market, the expert continues, such are the laws of cyberspace, which gives many a chance, pledging not rule anybody. "Based on the model of emission, the creators of the selected project, I think the system would be to break the traditional audience of peer to peer networks - concludes the interlocutor" Money ".- Will Bitcoin dilute this audience, say, a young yuppie advanced?"
The big question is whether the project will evolve. A week ago, two U.S. senators asked the Justice Department and controlled by his management of drug with a complaint Bitcoin: there is an online shop, Silk Road, he sells drugs (340 species) and pay only bitkoynami.
On that count senators? Example torrents shows that a decentralized system does not destroy. On the human ghost Satoshi Nakamoto from the site Bitcoin push hard. "According to formal criteria (the performance of transactions on the generation or transmission of coins from the computer a resident of a country standing on a desk in an office building within the same country), the power of individual states may try to otlitsenzirovat this system or to blame the lack of a license," - says Artem Genkin . Another possible method of attack on the system, the expert continues, - to catch it mediated a deal to trade in something illegal (by the same illicit drugs).
The system will certainly be subjected to harassment, if it becomes popular, says managing partner "Ashmanov and partners," Igor Ashmanov. "On the other hand, why can not we assume that the project Bitcoin and created just the U.S. intelligence agencies? - Shrugs Ashmanov .- The fact that such is the WikiLeaks, I'm sure all these plums were needed the Americans to set fire to Arab arch" . The assumption is in the spirit of Orwell: freedom - this is slavery, Big Brother is watching us.