Bitcoin Forum
May 10, 2024, 08:51:13 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: How does Bitcoin work? Technical news  (Read 530 times)
GordHuff (OP)
Newbie
*
Offline Offline

Activity: 2
Merit: 0


View Profile WWW
August 06, 2011, 11:51:56 AM
 #1

Because it is a peer-to-peer exchange, related to the central authorities have no more money or have to track transactions. Instead, "this action is jointly managed by the network. Technology news declared " Bitcoin value of a trade-only users who wish to come to accept it. This is a "global, personal, and untraceable," says Britain's Guardian, and "Preferred Financial Libertarians, geeks, business, and, possibly, a system for drug kingpins."
1715331073
Hero Member
*
Offline Offline

Posts: 1715331073

View Profile Personal Message (Offline)

Ignore
1715331073
Reply with quote  #2

1715331073
Report to moderator
1715331073
Hero Member
*
Offline Offline

Posts: 1715331073

View Profile Personal Message (Offline)

Ignore
1715331073
Reply with quote  #2

1715331073
Report to moderator
The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715331073
Hero Member
*
Offline Offline

Posts: 1715331073

View Profile Personal Message (Offline)

Ignore
1715331073
Reply with quote  #2

1715331073
Report to moderator
1715331073
Hero Member
*
Offline Offline

Posts: 1715331073

View Profile Personal Message (Offline)

Ignore
1715331073
Reply with quote  #2

1715331073
Report to moderator
Sepp
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
August 06, 2011, 12:34:23 PM
 #2

Because it is a peer-to-peer exchange, related to the central authorities have no more money or have to track transactions. Instead, "this action is jointly managed by the network. Technology news declared " Bitcoin value of a trade-only users who wish to come to accept it. This is a "global, personal, and untraceable," says Britain's Guardian, and "Preferred Financial Libertarians, geeks, business, and, possibly, a system for drug kingpins."

Right now, Bitcoin seems to generate excitement and expectation of would-be speculators and miners as in a gold rush. Lots of people upgrading their computers in an effort to spend some electricity to mine the coins (the goldrush) and lots of people actually buying Bitcoin to sit on them in the expectation that their value will go up and the owner gets a bit richer.

There is precious little going on by way of trading with bitcoins, as far as I understand.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!