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Author Topic: Wow. Stanford University publishes excelent description of the bitcoin network  (Read 1070 times)
RodeoX
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February 19, 2014, 05:27:43 PM
 #1

I thought they did a great job of explaining the ledger based system.

http://news.stanford.edu/news/2014/february/bitcoin-athey-srinivasan-021814.html

A SAMPLE:
"Athey: The Bitcoin system has at its core a secure public ledger. An entry on the ledger is not an IOU from a bank, like your bank account balance is. Rather, the ledger entry is the definition of ownership of a bitcoin. Within the Bitcoin protocol, one individual can send bitcoins to another without any middlemen or risk … that is a very powerful concept."

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in AFRICA - https://bitcointalk.org/index.php?topic=2710325.msg27720734
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February 19, 2014, 05:48:28 PM
 #2

Very good read and great article to link to for people new to Bitcoin.  I like how they break each concept down, and make easy to understand analogies to PayPal for instance.

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February 19, 2014, 05:56:12 PM
 #3

A good read, thanks for the share.

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February 19, 2014, 07:05:01 PM
 #4

nice one, thanks!

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February 19, 2014, 08:48:04 PM
 #5

It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

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February 19, 2014, 09:01:53 PM
 #6

Will give this a good thorough reading through shortly but seems like a pretty good explanation.
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February 19, 2014, 09:04:34 PM
 #7

It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter  Undecided

All we have to decide is what to do with the time that is given us.
RodeoX
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February 19, 2014, 09:07:30 PM
 #8

The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in AFRICA - https://bitcointalk.org/index.php?topic=2710325.msg27720734
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February 19, 2014, 09:11:47 PM
 #9

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter  Undecided

That's why you just tell the average person it's just 'internet money' and much better than their crappy 'bank money'
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February 19, 2014, 09:29:08 PM
 #10

The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

I don't think most of them WANT TO understand bitcoin. They're invested in the current old, outdated system. And if they don't want to change, the world will change without them.

All we have to decide is what to do with the time that is given us.
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February 19, 2014, 09:43:32 PM
 #11

Thanks! Nice read
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February 19, 2014, 10:22:02 PM
 #12

The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

I don't think most of them WANT TO understand bitcoin. They're invested in the current old, outdated system. And if they don't want to change, the world will change without them.
I agree with that explanation, plus consider that most of them have no idea about how pc and internet works, probably they are barely able to write an article and clic "save", they are still scared at "omg it ask me to choose between .txt .doc and other, help help!"

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February 19, 2014, 11:10:08 PM
 #13

It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter  Undecided
Should, doesn't mean they will. Look at MIT.

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