RodeoX (OP)
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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February 19, 2014, 05:27:43 PM |
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I thought they did a great job of explaining the ledger based system. http://news.stanford.edu/news/2014/february/bitcoin-athey-srinivasan-021814.htmlA 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." |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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ChuckBuck
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February 19, 2014, 05:48:28 PM |
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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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Lauda
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Terminated.
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February 19, 2014, 05:56:12 PM |
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A good read, thanks for the share.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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LiteCoinGuy
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Activity: 1148
Merit: 1010
In Satoshi I Trust
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February 19, 2014, 07:05:01 PM |
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nice one, thanks!
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Gabi
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Merit: 1008
If you want to walk on water, get out of the boat
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February 19, 2014, 08:48:04 PM |
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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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h3rlihy
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February 19, 2014, 09:01:53 PM |
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Will give this a good thorough reading through shortly but seems like a pretty good explanation.
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Nathonas
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February 19, 2014, 09:04:34 PM |
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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  |
All we have to decide is what to do with the time that is given us.
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RodeoX (OP)
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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February 19, 2014, 09:07:30 PM |
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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.
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h3rlihy
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February 19, 2014, 09:11:47 PM |
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Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter 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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Nathonas
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February 19, 2014, 09:29:08 PM |
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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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danielet
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February 19, 2014, 09:43:32 PM |
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Thanks! Nice read
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Gabi
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If you want to walk on water, get out of the boat
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February 19, 2014, 10:22:02 PM |
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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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Lauda
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Activity: 2674
Merit: 2965
Terminated.
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February 19, 2014, 11:10:08 PM |
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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 Should, doesn't mean they will. Look at MIT. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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