[1 BTC Bounty] What is Bitcoin? *ENDED*

[jackjack]

BTCitcoin

is the Pioneering Digital Currency

laying the Worlds First Foundations towards the Future of a Unified,

Worldwide BTCanking and Monetary System

Powered not by Big Business or Nations who Hord Resources

and not even by Governments that Overreach their rightful domains

but by Ordinary People from all over World

just like You and Me.

Colors are always the first thing that raises my scam alert

[JuenoMT]

***ALERT*** Irrational Paranoia  ***ALERT***

Colors are always the first thing that raises my scam alert

Exactly WHAT am I scamming??

It's just an attempt at a poetic twist on the BTCitcoin Ideaology (and 1 BTC  ) and besides, I am a primary visual spacial thinker, the colors are for emphasis and my own satisfaction, I think it makes it more interesting and noticable. After all, it inspired you to respond didn't it?

When's the last time you have seen the sun? ==> In real life?

[jackjack]

***ALERT*** Irrational Paranoia  ***ALERT***

Colors are always the first thing that raises my scam alert

Exactly WHAT am I scamming??

It's just an attempt at a poetic twist on the BTCitcoin Ideaology (and 1 BTC  ) and besides, I am a primary visual spacial thinker, the colors are for emphasis and my own satisfaction, I think it makes it more interesting and noticable. After all, it inspired you to respond didn't it?

When's the last time you have seen the sun? ==> In real life?

Wow someone needs to relax
All I was saying is that if I were new and someone advertised me something super ultra cool with colors and all, I'd be suspicious

[zekesonxx]

Money today is based on trust in a central authority, such as the United States Treasury (USD) or the European Union (Euro). This keeps all finances private but is highly traceable and can be tracked back to a single person easily. Bitcoin is based on trust in highly-efficient and unbreakable math. All finances are public to everyone, however addresses have no person or organization associated with them (unless that person/org decided to publicly show their address in a official manner). Bitcoin is easy to use, albeit hard to acquire, and all forms of payment with bitcoin are irreversible.

[JuenoMT]

***ALERT*** Irrational Paranoia  ***ALERT***

Colors are always the first thing that raises my scam alert

Exactly WHAT am I scamming??

It's just an attempt at a poetic twist on the BTCitcoin Ideaology (and 1 BTC  ) and besides, I am a primary visual spacial thinker, the colors are for emphasis and my own satisfaction, I think it makes it more interesting and noticable. After all, it inspired you to respond didn't it?

When's the last time you have seen the sun? ==> In real life?

Wow someone needs to relax
All I was saying is that if I were new and someone advertised me something super ultra cool with colors and all, I'd be suspicious

Ha! Amusing, and I thought you were the one who needed to relax.

 No hurt feelings here, I may have misinterpreted your meaning and responded a liiitttlle heavy, but being tagged a scammer (which I am most certainly not) can be quite damaging in this forum. I have barely posted anything on bitcointalk.org and that tag has already been suggested on three occasions... sohh... ieye might bee joost ah weee bt sensahtuv. <==(think Irish accent)

Edit:

Oh.... annnd byyee the waaayy... you wrote

super ultra cool with colors and all.

So ya Deew think its (with eco) "Sooppperr... err... er... Ullltrrraa... traa... aa... aa... Coowwell... ell... ell... ell."

See that OP?? <==(blatant self promotion)

EDIT(again):Besides,  your spagetti god is no match for my infinitely variable, ever elusive, undefinable and unprovable  Supper Dupper  beyond any other dupper deity... so THERE!!

[spiral_mind]

Bitcoin is a revolution in social systems just as much as in currency. It represents hope for a better world. On its face Bitcoin is a private, secure, and efficient form of currency based upon cryptography and distributed p2p networking that can be used anywhere there is access to computers and the internet. What makes Bitcoin different from other currencies is how it prevents foul play.

Rather than using threats of punishment (like government backed currencies) to prevent people from cheating the system (which is inefficient and usually not completely effective) the community has programmed Bitcoin to make behavior which further stabilizes the system the most profitable choice of action. Attempting to guess the private & public key pairs that control access to Bitcoin users' funds would take so many calculations it is practically impossible. That computing power could be far more efficiently used to generate new Bitcoins directly instead. This narrows the ways to get Bitcoins down to either buying them (which increases the value of Bitcoins held by everyone else) or submiting computing power to the network (which makes it more secure).

Both efficiency and user confidence an order of magnitude better than the current centralized banking system is possible using Bitcoin. Beyond just currency Bitcoin represents a new leap forward in human civilization that will be backed by collective voluntary action rather than direct coercion by central authorities. Bitcoin is living proof that humanity can work together to create a better world.

[Fizpok]

Once upon a time, a great Satoshi Satori Master was approached by students.
- Tell us, Teacher, what is the essence of a Bitcoin? They asked.
- Hm... The master said. Imagine the sound of clapping with two hands. Imagined? This is what money are about.
And now, imagine the sound of the clap with one hand. This is what the Bitcoin is about.

Enlightened, students left the Master's meditation place, and only one youngest student hesitated and then asked:
- But Teacher, if there is only one hand moving, what makes the actual noise?
The Teacher smiled and answered, his voice deep and divine:
- The Government does, he said.

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[Stunna]

Picking a winner in two more days! 

[rouf553]

Bitcoin is the most valuable currency in the world.

[BitKoot]

My 2nd entry:

Bitcoin is a currency which can be send anywhere in the world from anywhere in the world. You can send very small amounts as easily, fast and reliable as very large amounts. You don't have to pay high fees. And you can do all this from any computer or your phone.

[DaFool]

From what I understand I would answer that Bitcoin is a cloudbanking solution where the banking accounts and the transactions are stored in a common file, the "Blockchain". This file is known to every client but can't be manipulated because the clients compare the version of their file to the version in the network in realtime, thereby making it impossible to manipulate it without controlling more than 50% of the network.

The new data of transactions is fed into the Blockchain with a very hard to break cryptic algorythm. (That's why people refer to Bitcoin as a CRYPTOcurrency.) Computing power of so called "miners" help to weave this new information into the Blockchain, rewarding them with new "bitcoins" that they recieve for processing that new information.

This system is decentralized and is an alternative to centralized monetary systems that are open to manipulation by the institutions that run it (the banks). Since the common file can't be changed by anyone, the need to trust a central institution becomes obsolete and the integrity of the monetary system could be restored.

Next time someone asks you what Bitcoin is you can quote me on that and send 1 BTC to this adress: 19jQ4w1iNNGzc4qfHtrTfJZjMeqntBAXmg  

[freedomno1]

Thought about it more

Bitcoin is a user participated currency exchange, people have the option to choose to participate or not, unlike Fiat currencies bitcoins are backed by people itself and it is the people who decide its value.

As a system that has nothing to hide it is far more transparent accessible and convertible than all of the worlds fiat currencies. With lower fees for money transfers, for trading and even for providing aid and funding directly to disaster zones virtual currencies have the potential to change the world.

[dwdoc]

Bitcoin is digital money which can be instantly and reliably emailed anywhere.

[jaywaka2713]

Bitcoin is digital money which can be instantly and reliably emailed anywhere.

Just a note, email would be the wrong terminology. Transferred, Sent, or Utilized would be better terms.

[Fizpok]

Think of Fiat as Dinosaurus. They were huge and strong, and there was time they ruled the Earth.
Now think of Bitcoin and Mammals.

If you like this post, please donate to breastfeed the homeless: 1ErCqJbDkxXGBKjNgF2Rs2cygAu9MJAcGf

[alberthrocks]

Short and sweet you say? Voila:

BTCitcoin - a little coin that can do great things.

1KsySqfN4tmbLBznowjam8qvbsQ5twKVZP

[dwdoc]

Bitcoin is digital money which can be instantly and reliably emailed anywhere.

Just a note, email would be the wrong terminology. Transferred, Sent, or Utilized would be better terms.

Email as in:
To email: To electronically mail: To electronically send.

Also, the end user experience off sending and receiving bitcoin from and to a wallet address is very much like sending and receiving email.

[jaywaka2713]

Bitcoin is digital money which can be instantly and reliably emailed anywhere.

Just a note, email would be the wrong terminology. Transferred, Sent, or Utilized would be better terms.

Email as in:
To email: To electronically mail: To electronically send.

Also, the end user experience off sending and receiving bitcoin from and to a wallet address is very much like sending and receiving email.

True, but in terms of mass adoption with the majority of people, the term email is directly related to sending emails. It's true definition isn't actually understood by most.

[BitcoinBarrel]

Bitcoin is a Decentralized Peer-2-Peer Digital Cryptocurrency

Bitcoin is an Open-source Financial Network

[dwdoc]

Bitcoin is digital money which can be instantly and reliably emailed anywhere.

Just a note, email would be the wrong terminology. Transferred, Sent, or Utilized would be better terms.

Email as in:
To email: To electronically mail: To electronically send.

Also, the end user experience off sending and receiving bitcoin from and to a wallet address is very much like sending and receiving email.

True, but in terms of mass adoption with the majority of people, the term email is directly related to sending emails. It's true definition isn't actually understood by most.

Bitcoin is digital money which can be instantly and reliably sent or received anywhere just like email.