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Author Topic: Bitcoin Network Description  (Read 414 times)
BittBurger
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February 21, 2014, 01:53:22 AM
 #1

Saw this description.  Something about it seems erroneous. 

How would you word these two sentences to make them more accurate?

Or ... are they accurate as-is?

Thanks:

"1)   “Bitcoin however is not managed or controlled by a central government or organization. Instead, the network is run on thousands of independent user’s computers. None of these computers have more control over the network than any other computer.”"

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
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yogi
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February 21, 2014, 02:06:54 AM
 #2

1) Bitcoin is decentralised and not controlled by any individual, private group or authority. It exists as a network of computer that all work together to form a consensus. All nodes on the network are considered equal and none is more important that the other. The network is open and free to join for all those who wish to participate.


edit/
btw i don't see anything wrong with the first one.

BittBurger
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February 21, 2014, 02:27:01 AM
 #3

Thank you!

The first one just sounded strange to me.

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
Waramp22
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February 21, 2014, 02:50:24 AM
 #4

None of these computers have more control over the network than any other computer.”"

How about:

The control of the network is distributed based on the processing power of each individual computer.

Scammed by Black Arrow? See the consumer complaint thread here -
https://bitcointalk.org/index.php?topic=681965.0
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