Bitcoin Forum
October 24, 2020, 03:42:24 PM *
News: Latest Bitcoin Core release: 0.20.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: What were the precursors of Bitcoin?  (Read 224 times)
gentleman2019
Newbie
*
Offline Offline

Activity: 28
Merit: 23


View Profile
September 24, 2020, 09:34:05 PM
 #1

Bitcoin is often described as the 'first cryptocurrency' in media, but I vaguely remember there was some history before Satoshi's (amazing) implementation.

I remember hashcash (not a currency) which was used to prevent spam way before Bitcoin, and Bitcoin uses its idea.

What were the other attempts at cryptocurrencies or precursors before Bitcoin?
1603554144
Hero Member
*
Offline Offline

Posts: 1603554144

View Profile Personal Message (Offline)

Ignore
1603554144
Reply with quote  #2

1603554144
Report to moderator
1603554144
Hero Member
*
Offline Offline

Posts: 1603554144

View Profile Personal Message (Offline)

Ignore
1603554144
Reply with quote  #2

1603554144
Report to moderator
1603554144
Hero Member
*
Offline Offline

Posts: 1603554144

View Profile Personal Message (Offline)

Ignore
1603554144
Reply with quote  #2

1603554144
Report to moderator
I HATE TABLES I HATE TABLES I HA(╯°□°)╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1603554144
Hero Member
*
Offline Offline

Posts: 1603554144

View Profile Personal Message (Offline)

Ignore
1603554144
Reply with quote  #2

1603554144
Report to moderator
1603554144
Hero Member
*
Offline Offline

Posts: 1603554144

View Profile Personal Message (Offline)

Ignore
1603554144
Reply with quote  #2

1603554144
Report to moderator
HeRetiK
Legendary
*
Online Online

Activity: 1638
Merit: 1407


the forkings will continue until morale improves


View Profile
September 24, 2020, 09:43:56 PM
Merited by jackg (1)
 #2

This article should give a pretty comprehensive overview of Bitcoin's foundational predecessors and building blocks:

https://queue.acm.org/detail.cfm?id=3136559

Hashcash's PoW is an important part of Bitcoin's history but it actually goes even deeper than that Smiley

jackg
Copper Member
Legendary
*
Offline Offline

Activity: 1904
Merit: 1882


https://bit.ly/387FXHi ← lightning theory


View Profile
September 24, 2020, 09:51:53 PM
 #3

Bitcoin is often described as the 'first cryptocurrency' in media, but I vaguely remember there was some history before Satoshi's (amazing) implementation.

I think the point was it was one of the first fairly fully decentralised cryptocurrency to exist.

Hashcash afaik came from 1996 as you say to authenticate real users..

I think there was then another coin released earlier than bitcoin which wasn't decentralised.

HeRetiks link looks really detailed though.

Flangler
Member
**
Offline Offline

Activity: 893
Merit: 44


View Profile WWW
September 25, 2020, 10:02:35 AM
 #4

If I remember correctly everything started form Bittorrent or rather torrents to be clear. Now Bittorent was taken over by some guys from Tron foundation.
A P2P communication protocol like BitTorrent breaks down the files into pieces and moves them from uploaders (seeders) to downloaders (leechers) via a torrent client a separate program that reads all the information in the torrent file. Sound familiar, doesn't it? Just replace some words and we will get a simple definition for blockchain.

███ P2P CASH ▬    ███    ▍                  SMART CONTRACT PLATFORM   
▬   is the platform fully dedicated to    ██████████ JOIN ██████████
  ◥  international money transactions   ▐   ◼ discordtwittertelegram
Yaunfitda
Sr. Member
****
Offline Offline

Activity: 1554
Merit: 471



View Profile
September 25, 2020, 10:45:06 AM
 #5

There is an good thread about it here, Bitcoin Prehistory. I think you can visit it and I'm sure you will learn a thing or two.  Smiley

BitDice[]               ▄▄███▄▄
           ▄▄██▀▀ ▄ ▀▀██▄▄
      ▄▄█ ▀▀  ▄▄█████▄▄  ▀▀ █▄▄
  ▄▄██▀▀     ▀▀ █████ ▀▀     ▀▀██▄▄
██▀▀ ▄▄██▀      ▀███▀      ▀██▄▄ ▀▀██
██  ████▄▄       ███       ▄▄████  ██
██  █▀▀████▄▄  ▄█████▄  ▄▄████▀▀█  ██
██  ▀     ▀▀▀███████████▀▀▀     ▀  ██
             ███████████
██  ▄     ▄▄▄███████████▄▄▄     ▄  ██
██  █▄▄████▀▀  ▀█████▀  ▀▀████▄▄█  ██
██  ████▀▀       ███       ▀▀████  ██
██▄▄ ▀▀██▄      ▄███▄      ▄██▀▀ ▄▄██
  ▀▀██▄▄     ▄▄ █████ ▄▄     ▄▄██▀▀
      ▀▀█ ▄▄  ▀▀█████▀▀  ▄▄ █▀▀
           ▀▀██▄▄ ▀ ▄▄██▀▀
               ▀▀███▀▀
        ▄▄███████▄▄
     ▄███████████████▄
    ████▀▀       ▀▀████
   ████▀           ▀████
   ████             ████
   ████ ▄▄▄▄▄▄▄▄▄▄▄ ████
▄█████████████████████████▄
██████████▀▀▀▀▀▀▀██████████
████                   ████
████                   ████
████                   ████
████                   ████
████                   ████
████▄                 ▄████
████████▄▄▄     ▄▄▄████████
  ▀▀▀█████████████████▀▀▀
        ▀▀▀█████▀▀▀
▄▄████████████████████████████████▄▄
██████████████████████████████████████
█████                            █████
█████                            █████
█████                            █████
█████                            █████
█████                     ▄▄▄▄▄▄▄▄▄▄
█████                   ▄█▀▀▀▀▀▀▀▀▀▀█▄
█████                   ██          ██
█████                   ██          ██
█████                   ██          ██
██████████████████▀▀███ ██          ██
 ████████████████▄  ▄██ ██          ██
   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ██          ██
             ██████████ ██          ██
           ▄███████████ ██████▀▀██████
          █████████████  ▀████▄▄████▀
[/]
pooya87
Legendary
*
Offline Offline

Activity: 2156
Merit: 3205


Remember tonight for it's the beginning of forever


View Profile
September 25, 2020, 12:31:46 PM
 #6

If I remember correctly everything started form Bittorrent or rather torrents to be clear. Now Bittorent was taken over by some guys from Tron foundation.
A P2P communication protocol like BitTorrent breaks down the files into pieces and moves them from uploaders (seeders) to downloaders (leechers) via a torrent client a separate program that reads all the information in the torrent file. Sound familiar, doesn't it? Just replace some words and we will get a simple definition for blockchain.

i don't see any other relationship between bitcoin and torrent protocol other than both being peer to peer networks. otherwise bitcoin has the proof of work and the blockchain and is a consensus system with cryptography on top all of which are missing in torrent protocol.

BTW Tron owner bought bittorrent client brand name so that he could make a name for himself and gain popularity to later on use it to raise more funds when he started his shitcoin sale fundraising shenanigan Wink

Emitdama
Sr. Member
****
Offline Offline

Activity: 897
Merit: 291



View Profile
September 26, 2020, 05:13:28 PM
 #7

Maybe it wasn’t the first to come up with this kind of idea; I have seen people say things like this that there has been others that were created earlier before we had Bitcoin, but none of them were successful. So, what’s the need of counting them if they were not successful?

Bitcoin is the one that came out successful and is now widely adopted more than every other cryptocurrencies there is, so it should be regarded as the first. And another thing I was made to understand from some of the research I have made concerning this is that Bitcoin is the first to be decentralized. There has been other attempts to create cryptocurrency like bit gold and ecash.

██████████████████████████████████████████████████████████████████
.
DAILY RACES
.

██████████████████████████████████████████████████████████████████
██   ██   ██   █████████████████████
.
█████████████▄
▄██████████████████▄
▄████████████████████▄
▐██████████████████████▄
▐████████████████████████
▐██████████████████████████
▐█████████████████████████▌
█████████████████████████▌
████████████████▀███████▌
▀██████████████▄██████
▀██████████████▄██████▀
▀█████████████████▀
▀███████████▀▀
Tower.bet.
.
█████████████████████   ██   ██   ██
██████████████████████████████████████████████████████████████████
.
UNIQUE GAMES
.

██████████████████████████████████████████████████████████████████
GazetaBitcoin
Sr. Member
****
Offline Offline

Activity: 406
Merit: 1069


★Bitvest.io★ Play Plinko or Invest!


View Profile WWW
September 27, 2020, 07:41:45 AM
 #8

Bitcoin is often described as the 'first cryptocurrency' in media, but I vaguely remember there was some history before Satoshi's (amazing) implementation.

I remember hashcash (not a currency) which was used to prevent spam way before Bitcoin, and Bitcoin uses its idea.

What were the other attempts at cryptocurrencies or precursors before Bitcoin?

You can find here a very long and detailed essay of mine, describing all Bitcoin's ancestors: Bitcoin: The dream of Cypherpunks, libertarians and crypto-anarchists. On the second page of posts you can also find a comparison made by me for Bitcoin and all of its ancestors. It was "hand made" to say so, but I think the article can help you understand better all you asked for.



BIG WINNER!
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
BlackHatCoiner
Full Member
***
Online Online

Activity: 224
Merit: 297


Blockchain is one.


View Profile WWW
September 27, 2020, 01:19:39 PM
 #9

Because hashcash was before bitcoin it doesn't mean that bitcoin was bornt from hashcash. Bitcoin is a creation that took some important accomplishments back in the 90's and implement them to create a digital currency. Satoshi had referenced to bmoney too. It doesn't make bmoney a cryptocurrency.

Bitcoin was something innovative.

(♫ "Proof of work with all that hash, making us some digital cash." ♪)

HeRetiK
Legendary
*
Online Online

Activity: 1638
Merit: 1407


the forkings will continue until morale improves


View Profile
September 27, 2020, 01:51:48 PM
 #10

Maybe it wasn’t the first to come up with this kind of idea;

...but it was the first to come up with a solution! Cool

That is to say, Bitcoin might not be the first digital currency but it's the first cryptocurrency (ie. the first decentralized, counterfeit-proof digital currency).

It's easy to forget these days how big of a deal this was, but there's no precedent for this kind of money before Bitcoin.

Welsh
Staff
Legendary
*
Offline Offline

Activity: 2114
Merit: 2095



View Profile
September 27, 2020, 02:00:25 PM
 #11

Maybe it wasn’t the first to come up with this kind of idea;

...but it was the first to come up with a solution! Cool

That is to say, Bitcoin might not be the first digital currency but it's the first cryptocurrency (ie. the first decentralized, counterfeit-proof digital currency).

It's easy to forget these days how big of a deal this was, but there's no precedent for this kind of money before Bitcoin.
The first to really capitalize on the market I would say. Since, eCash, although being very different from Bitcoin of today was a concept back in the 1980s, which I think was implemented into Digicash? As far as I know, this is the very foundations to what we now call cryptocurrencies, and its interesting to me that the concept was thought of many years ago. I'm not sure of the success of eCash, or Digicash, but I believe Bitcoin is the closest thing we've had that uses similar ish concepts that has garnered the interest of the mainstream media.

HeRetiK
Legendary
*
Online Online

Activity: 1638
Merit: 1407


the forkings will continue until morale improves


View Profile
September 27, 2020, 04:01:39 PM
 #12

The first to really capitalize on the market I would say. Since, eCash, although being very different from Bitcoin of today was a concept back in the 1980s, which I think was implemented into Digicash? As far as I know, this is the very foundations to what we now call cryptocurrencies, and its interesting to me that the concept was thought of many years ago. I'm not sure of the success of eCash, or Digicash, but I believe Bitcoin is the closest thing we've had that uses similar ish concepts that has garnered the interest of the mainstream media.

I guess part of the reason why eCash failed was because it relied on centralized issuance and therefore was still too tightly coupled to classical banking and the DigiCash corporation itself. Too that end it was more like a hyper-advanced anonymous prepaid payment system than a modern cryptocurrency.

I'd love to think that eCash / DigiCash' failure was mostly due to being too early, but seeing how GNU Taler (ie. a direct descendant of eCash) is also failing to gain traction there seem to be other factors at play as well though.

GazetaBitcoin
Sr. Member
****
Offline Offline

Activity: 406
Merit: 1069


★Bitvest.io★ Play Plinko or Invest!


View Profile WWW
September 27, 2020, 04:54:51 PM
 #13

The first to really capitalize on the market I would say. Since, eCash, although being very different from Bitcoin of today was a concept back in the 1980s, which I think was implemented into Digicash? As far as I know, this is the very foundations to what we now call cryptocurrencies, and its interesting to me that the concept was thought of many years ago. I'm not sure of the success of eCash, or Digicash, but I believe Bitcoin is the closest thing we've had that uses similar ish concepts that has garnered the interest of the mainstream media.

That's correct. Dr. David Chaum's (author od eCash) previous work was the one that inspired the Cypherpunks to try to implement a working and decentralized form of digital, untraceable money.

Some of these cryptographers started working on this dream they had: electronic cash. And they had a role model: Dr. David Chaum's DigiCash. David Chaum's work represented an inspiration for the Cypherpunks group and he can be called the grandfather of Cypherpunks. His writings (such as "Untraceable Electronic Mail, Return Addresses, and Digital Pseudonyms", "Blind Signatures for Untraceable Payments" or "Security without Identification Card Computers to make Big Brother Obsolete") proved he was thinking way ahead of his time. In 1989 he already managed to launch the electronic money company DigiCash Inc. The company offered to the public the eCash payment system and the CyberBucks coins, which were based on blind signatures. The proposal was actually applied in real world payments, being adopted by several banks, such as Mark Twain Bank from St. Louis, Deutsche Bank, Credit Suisse, Norske Bank and Bank Austria. Other big players became interested in Chaum's creation: Visa, Netscape, ABN Amro Bank, CitiBank and ING Bank. Even Bill Gates tried to embed DigiCash in Windows '95. Unfortunately, these last mentioned players never signed the contracts with Chaum. In the end, in 1998, DigiCash Inc. went bankrupt. People were not attracted to use the system. Chaum's proposal was also above of its times.

The Cypherpunks thought also that the failure of DigiCash Inc. was determined by the fact that it was based on a central authority. The key to success was a totally decentralized form of money.

What I'm trying to say is that eCash was real. And it was used. But it was a centralized form of digital money and maybe that lead, in the end, to its failure. And also the fact that the invention was implemented in the real world ahead of its time. Even now, for example, Bitcoin is not used but too many people all over the world. It;s still hard for some to understand it. Now imagine how hard eCash was back then.



Because hashcash was before bitcoin it doesn't mean that bitcoin was bornt from hashcash. Bitcoin is a creation that took some important accomplishments back in the 90's and implement them to create a digital currency. Satoshi had referenced to bmoney too. It doesn't make bmoney a cryptocurrency.

Bitcoin was something innovative.

It was, indeed. But both HashCash and b-money helped Satoshi to place all things together. But these two weren't the only proposals, there was also another one: Nick Szabo's Bit Gold, which also opened the idea of smart contracts. However, all these 3 proposals of digital money, but also eCash, had various flaws: they were subject of sybil attacks, they were not decentralized or they were never coded.

Bitcoin took the best from all the previous proposals. With other words, we can say that Satoshi learned from the mistakes made by his predecessors and made sure that he won't repeat them. He used HashCash, proof-of-work, 0 central authority, public/private keys and a distributed ledger - which came to be known as the Blockchain (although this term was never used in the Bitcoin white paper). But his innovation was that he used the chain of signatures which link with hash functions every coin (transaction) to its previous owner (author) in an unbroken chain which ends at the generation of the respective coin. Practically, nobody can falsely allege that he owns a coin, as the real owner can sign a message from the transaction which attributed the coin to him, proving that the other one is an imposter. And the importance of this invention can be seen now, many years after Bitcoin was launched, as you know: CSW is trying in vain to steal Satoshi's identity and also to convince people that he owns several of Bitcoin's first addresses -- addresses which are supposed to belong to Satoshi; actually no matter to whom they belong, it is certain they don't belong to CSW as he is unable to sign a message from them. Furthermore, he was ridiculed by the real owner of such address, which signed a message from his address, saying "Craig Steven Wright is a liar and a fraud. He doesn't have the keys used to sign this message.". Furthermore, the recently moved 50 BTC from the address created in 2009 (movement observed also by many forum users) were contained in an address previously mentioned by CSW as belonging to him. The movement of these coins by their real owner proved that he didn't control that address.

This concept, which proves 100% the real owner of a coin, was not present in the previous electronic money proposals.

Excepting all these, Bitcoin also managed to avoid the 51% attacks. As Satoshi had forseen the need for proving the ownership (described above) and many other technological (but also political and ideological issues) which could appear after offering his brilliant invention to the world. He also anticipated that Bitcoin could become the subject of various types of attacks, one of them being the so-called 51% attack.

For those which don't know, a 51% attack represents an attack to the network, the attack being performed by a miner (or a group) having more than 50% of the total hash power of the entire network. In such cases (which in Bitcoin network's case the chances are astronomically low of occurring), the respective miner would have absolute power over the protocol, including but not limited to: stopping other miners from finding new blocks, find all the blocks by himself and obtain all the mining rewards, rewriting the blockchain history, double-spending etc. (more details can be found on Bitcoin Wiki).

Satoshi knew that such attack could occur and implemented two methods for mitigating the risk, as it follows:

1 He detailed an incentive in the white paper meant to keep honesty among the network participants: "The incentive may help encourage nodes to stay honest.  If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins.  He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.".

Besides, regarding double spending and attacks, the white paper also details the following: "We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU proof-of-worker. As long as a majority of CPU proof-of-worker is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure."

2. The second measure was not based anymore on users' honesty, but rather on code: Bitcoin is programmed to make it more difficult the process of finding new blocks as more hash power is brought inside the network. Practically, the more the nodes are, the more difficult the mining process gets. And, as a consequence, as the network expands more and more, it would be way more difficult for an attacker to control more than 50% of the network's hash power*.

Regarding this second solution, laszlo (the pizza guy) alleged in recent CoinTelegraph article that Satoshi told him at some point that he has coded a mining software for GPUs and he was prepared to switch the actual (at that moment, of course) CPU miner to the GPU software, if he really had to defend the network. Of course, the defense would mean to raise exponentially the difficulty, as the GPUs have much more computing power than the CPUs. Laszlo, which according to his topic from May 2010 might have been the first developer (excepting Satoshi) of such mining software for GPUs, could have said the truth or could have lied in the interview. But what's certain is that Satoshi had two ways for avoiding these attacks in Bitcoin network, this being an aspect where Bit Gold and b-money were vulnerable.




BIG WINNER!
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
Vatimins
Sr. Member
****
Offline Offline

Activity: 666
Merit: 270



View Profile
September 28, 2020, 04:39:51 PM
 #14

     I really love reading about bitcoin history and how people veiw this or their opinion about the event or the things that happened to bitcoin which have contributed little or a lot to what bitcoin is today. In the pre-bitcoin times there were actually quite a few concepts that are pretty similar with the concept of bitcoin which may have been where the concept of bitcoin was also derived from. Good read op.

Flangler
Member
**
Offline Offline

Activity: 893
Merit: 44


View Profile WWW
October 09, 2020, 10:14:24 AM
 #15

If I remember correctly everything started form Bittorrent or rather torrents to be clear. Now Bittorent was taken over by some guys from Tron foundation.
A P2P communication protocol like BitTorrent breaks down the files into pieces and moves them from uploaders (seeders) to downloaders (leechers) via a torrent client a separate program that reads all the information in the torrent file. Sound familiar, doesn't it? Just replace some words and we will get a simple definition for blockchain.

i don't see any other relationship between bitcoin and torrent protocol other than both being peer to peer networks. otherwise bitcoin has the proof of work and the blockchain and is a consensus system with cryptography on top all of which are missing in torrent protocol.

BTW Tron owner bought bittorrent client brand name so that he could make a name for himself and gain popularity to later on use it to raise more funds when he started his shitcoin sale fundraising shenanigan Wink

Changin information in a torrent will affect the torrent it self and usually will end up not wokring just like when you want to change tx in blockchain ( double spending). So in  my opinion it is just different approacht to cryptography but I have read more about it and it seems I was wrong about blockchain origins.

███ P2P CASH ▬    ███    ▍                  SMART CONTRACT PLATFORM   
▬   is the platform fully dedicated to    ██████████ JOIN ██████████
  ◥  international money transactions   ▐   ◼ discordtwittertelegram
PonZZ
Member
**
Offline Offline

Activity: 191
Merit: 10


View Profile
October 09, 2020, 10:32:15 AM
 #16

The clearest article about the academic history of cryptocurrencies (as a concept).
https://queue.acm.org/detail.cfm?id=3136559

O W N R   W A L L E T      ❱      Create EOS accounts and manage EOS in an HD wallet      ❰      BTC, EOS & other coins
❱❱❱ ❱❱ ❱      Buy, send, receive and exchange crypto    ●    VISA   ●● mastercard   S€PA   ███ UnionPay      ❰ ❰❰ ❰❰❰
BLOG       TWITTER          [  App Store  ]          FULL EOS SUPPORT          [ Google Play ]          REDDIT   YOUTUBE
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!