How a bitcoin "technically" works ?
Continuing the discussion about bitcoin from my side using others who are "experts" like Andreas Antonopolous and others , again we emphasize the following , We should always have this in mind the characteristics of a bitcoin so as to be guided in our dealings with any site , with offers of bitcoin or other crypto's . It is imperative for us to SHARE this blog or articles about bitcoin for others who still dont know about bitcoin , or for those who are mixed up with so many informations online ( either way they are the truth or they are just trying to lure us )
From Andreas Antonopolous statements ;
- Bitcoin is decentralized, digital currency , It is a platform of trust.
It's not a company, it's not a product, it's not a service you sign up for. it's not a currency.
Currency is just the first application.
- From the history of money ,
From pure barter exchange to the introduction of the first abstraction of value, shells, feathers, beads, nuts, stones, and then precious metals. And then paper money, and then plastic money, and now, network money.
- Bitcoin introduces a platform on which you can run currency as an application, it is the internet of money Money simply allows us to express value and that value may have economic consequences but it also has other consequences
- first completely global, completely borderless, completely decentralized, and completely open form of money, one where you can build applications because this money is programmable ,
- when you remove the requirement for permission, what happens? Exponential explosion in innovation. Anyone in the world can download an application or use even a feature phone with text messaging and immediately acquire the same powers that institutions of banking have today.
- today we have systems of money for small payments, systems of money for large payments. We have systems of money for payments between individuals, we have systems of money for payments between companies, we have systems of money for payments between governments.
What The Internet of Money does is, it creates a single network which can do , a micro transaction to a giga transaction , in seconds, anywhere in the world for any participant without permission.
The videos about what is bitcoin should probably gives us an understanding of what this technology is all about . The bitcoin is a technology so let us learn " how the bitcoins works technically .
Added to my follow list. Keep up the good work and what do you think of the current market?
The market had always been volatile but i do think that corrections of the value of bitcoin had been reached it had already reached again the $10,000 mark but because of some government regulations people in bitcoin are careful not to loss their bitcoin or money . Also i think the scaling and the fees for the bitcoin transactions should be lowered and the system like lightning had not been established so if this had been installed then will you bitcoin on the move . Its my non technical opinion .