Hey all! So what is in the Bitcoin whitepaper?It is supposed to be a "Peer-to-Peer Electronic Cash System". It's a system meant for payments and exchanging value.IntroductionThis is the rationale of the whole thing: third parties seek rent on your transactions, so lets cut them out, so that transactions are cheap. They are also irreversible, so merchants/services are more protected in this system.This is achieved by combining a chain of digital signatures with computing power invested into proof of work.\2. TransactionsThis is the first half of the equation.Say you own a coin. To spend it you need to digitally sign, with your private key, that you want to spend it.This ensures a number of desirable properties. No one other than you can spend your coin. The coin can't be spent twice.\3. Timestamp ServerEvery 10 minutes or so the system as a whole batches the transactions that happened in those minutes into a block and finalizes them. None of the transactions that are ...
"Europe's largest bank in Europe, with total assets of $2.715 trillion, is likely to avoid Coinbase's newly listed COIN stock because of lingering worries about crypto’s role in money laundering and criminal activity."That's rich.https://ift.tt/32xvW5p via /r/CryptoCurrency https://ift.tt/3axzQzU
Running out of cash to buy the dip? Try selling your kidney and other extra internal organs. No sacrifice is too stupid for crypto.Seriously, buying the dip is a really bad idea right now. Whales are pumping gullible retailers for their fiat, they sell enough to crash the price, and then buy in at the bottom stopping the fall.When prices recover, whales will dump them again.Wash, rinse, repeat until retailers run out of money and prices won’t recover for a while.Don’t be plankton, don’t feed the whales. via /r/CryptoCurrency https://ift.tt/3FswXx7
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