Wer ist Satoshi Nakamoto? - Das große Rätsel um den ...

Crypto history, part 2

Crypto history, part 2
So, we have already discussed the prerequisites for the creation of electronic currencies, as well as the appearance of the mysterious Satoshi Nakamoto. Today we will continue with this story.
According to Satoshi himself, the idea of ​​creating Bitcoin came to him in 2007. The announcement of the algorithm took place on October 31, 2008, when Satoshi published a «white paper» of bitcoin through the use of electronic mailing lists and sent it to all the addresses contained in the cypherpunk address book. When explaining the letter, he indicated that he had developed a peer-to-peer electronic money system, through which transactions could be performed directly but anonymously between the participants
Satoshi called Bitcoin «e-cash» or «electronic cash». Later, in 2011, Forbes magazine published an article entitled «Crypto currency» dedicated to Bitcoin, after which the term «cryptocurrency» became common place for such systems.
After the Electronic mailing, Satoshi and the cryptographers who joined him began work on the creation of a «client». In January 2009, Bitcoin 0.1 version was launched. Satoshi’s computer became the first «node», Hal Finney was the second to connect to the Blockchain network. In January the same year, the first block of coins was generated and the first transaction made. Satoshi had sent 10 bitcoins to Hal.
In September 2009, the first exchange of bitcoin for real money was made — user Martti Malmi received $ 5.02 for 5050 bitcoins from user ‘NewLibertyStandard’ via PayPal. In fact, this transaction was both a purchase and a sale. In October, the bitcoin exchange rate was determined by multiplying the average computing power used to obtain one coin multiplied by the cost of electricity in the United States, and thus, 1309 bitcoins could be bought for $ 1.
In November 2009, a forum was created on the website bitcoin.org where bitcoin enthusiasts could communicate with one another. With the growth in the number of nodes, the complexity of mining had increased, which in turn necessitated the search for newer ways to mine coins. Instead of mining using a CPU, Users began using the GPUs on video cards to improve the efficiency of their devices. During the same period, the user ArtForz created the first mining farm, which was a combination of several video cards constantly engaged in the mining process.
On July 17, 2010, the first digital currency exchange’ MtGox’ was created. Only 10 years later with the help of NeuronChain, the first digital currency exchange NeuronEx was created which allows users to make digital transactions of not only cryptocurrency, but fiat money!
Now all of the most popular digital currencies are available to transactions on NeuronEx — BTC, BCH, ETH, ETC, LTC, DASH, XRP, Dogecoin, EMC, EOS, BCH, BSV, EURT, USDT, CNHT, XAUT, as well as its own Neuron Coin — NRON.

https://preview.redd.it/4lz79yjgevn51.jpg?width=1200&format=pjpg&auto=webp&s=71467a05fae88c600f86c2380f9cd4aedcfa5802
#Finance #NeuronChain #blockchain #NeuronEx #NeuronWallet #CryptoNeuroNews #crypto
submitted by LadyMariann to NeuronChain [link] [comments]

where did Bitcoin come from

Var kom Bitcoin ifrån?

Trots att den bara är fem år gammal har den redan en unik historia. Idén till Bitcoin kom från en utvecklare vid namn Satoshi Nakamoto. Det var namnet på originalpapperet som beskrev de tekniska aspekterna av det nya projektet – men det var en pseudonym. Den verkliga identiteten av Satoshi Nakamoto är fortfarande okänd. Originaluppsatsen skrevs i oktober 2008. Det nio-sidiga uppsatsen berör en kort var och en av de viktigaste aspekterna av systemet som Satoshi föreställde sig, liksom att namnge detta nya ”Peer-to-Peer Electronic Cash System” med moniker att det använder idag: Bitcoin.
Efter att tidningen publicerades skapade Satoshi det första programvaran som började gruvdrift (processen för att skapa Bitcoin). I januari 2009 bryts Satoshi ut den första uppsättningen Bitcoin, med namnet Genesis-blocket. Strax efter tillkännagav han projektet till en grupp krypteringsexperter, av vilka många var en del av “cypherpunk” -rörelsen. Satoshi utvecklade många av idéerna från Bitcoin från tidigare cypherpunk-verk. Inledningsvis närmade sig denna grupp datorexperter Bitcoin som en intressant hobby,
Diskuterar hur systemet kanske fungerar eller inte, och hur regeringar kan reagera på det. Det var först i början av 2010 som Bitcoin användes för verkliga transaktioner.
Vid denna tidpunkt hade en större gemenskap av utvecklare granskat koden – tillsammans med Satoshi – och släppt version 0.2, vilket förbättrar klienten. Den första Bitcoin-transaktionen för ett fysiskt förmån inträffade den 21 maj 2010, då en Bitcoin-användare med namnet Laszlo köpte en pizza värd $ 25 – för 10 000 Bitcoins! Denna transaktion skapade det berömda “Bitcoin Pizza Index”, som kontinuerligt uppdaterar priset för den första pizzaen (från och med skrivandet av denna bok, värd över 1,2 miljoner dollar). Bitcoin-samhället växte långsamt över 2010.
Mt. Gox, det största Bitcoin-utbytet, grundades och underlättade att köpa och sälja Bitcoin. Priset nådde så småningom paritet med den amerikanska dollarn i februari 2011 och började därefter snabbt stiga. Denna snabba uppgång var främst ett resultat av ökad medieuppmärksamhet. Flera nya webbplatser började täcka Bitcoin, och genomsnittliga internetanvändare började köpa dem.
submitted by ibrooo777 to BTCSV [link] [comments]

Seeking group effort on more opinions and insights

- Generational member of ruling bloodline family states on September 10 , 2008 " I am prepared to give you some things coming down the timeline, that you will be able to look back upon, and verify my predictions retrospectively. The stock markets will soon complete there controlled demolition. After an initial "appearance" that the "bail outs" and "rescue packages' have steadied the ship, there will be new record lows by the end of the month. Our financial institutions will later call in all loans. There will be many bankruptcies and foreclosures. ------There will be a new currency by the end of 2008 / early 2009 ( he or she is talking about bitcoin)
- Great recession of 20th century started in December 2007 and ended/ declared a global depression in June 2009.
- " The domain name "bitcoin.org" was registered on 18 August 2008.[21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[4] was posted to a cryptography mailing list.[22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[23][24][16] Nakamoto's identity remains unknown
- The WHO declares global pandemic (H1N1) July 1st 2009
- Bitcoin block halving reward countdown 44 days from now (April 13 or 14) 2020
- Covid 19 seems to be the cover up for this for another looming recession thats been happening up until the boiling point
Im not that well versed on natural law so I am going to ask questions now in hopes of jumping over the impediment of my free will/ sovereignty so here it goes. What is going to happen 40 plus days from now that will effect the world? What is the plan behind the scheduling of bitcoin, virus plot, recession etc ? What are all of the laws that you follow as to not accumulate karmic debit?
https://preview.redd.it/mway6k7qlup41.jpg?width=1136&format=pjpg&auto=webp&s=d1a8f3d84b8caaf5c0b64ca6134d64e8119be4f4
https://preview.redd.it/4lhsie4tlup41.jpg?width=1136&format=pjpg&auto=webp&s=f9cfba3567b96e3992b6d4c9162ccfad89d54370
submitted by shayeyetuh to conspiracy [link] [comments]

White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e
Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.


This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.


On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.


In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
Website: https://www.58ex.com/
Twitter: https://twitter.com/58_coin
Facebook: https://www.facebook.com/coin.58COIN
Telegram: https://t.me/official58
Medium: https://medium.com/@58coin_blog/
submitted by 58CoinExchange to u/58CoinExchange [link] [comments]

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.
  • Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority. BTC can be transferred electronically in a secure, verifiable, and immutable way.
  • Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all of the nodes in the Bitcoin network. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin’s whitepaper was published pseudonymously in 2008 by an individual, or a group, with the pseudonym “Satoshi Nakamoto”, whose underlying identity has still not been verified.
  • The Bitcoin protocol uses an SHA-256d-based Proof-of-Work (PoW) algorithm to reach network consensus. Its network has a target block time of 10 minutes and a maximum supply of 21 million tokens, with a decaying token emission rate. To prevent fluctuation of the block time, the network’s block difficulty is re-adjusted through an algorithm based on the past 2016 block times.
  • With a block size limit capped at 1 megabyte, the Bitcoin Protocol has supported both the Lightning Network, a second-layer infrastructure for payment channels, and Segregated Witness, a soft-fork to increase the number of transactions on a block, as solutions to network scalability.

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1. What is Bitcoin (BTC)?

  • Bitcoin is a peer-to-peer cryptocurrency that aims to function as a means of exchange and is independent of any central authority. Bitcoins are transferred electronically in a secure, verifiable, and immutable way.
  • Network validators, whom are often referred to as miners, participate in the SHA-256d-based Proof-of-Work consensus mechanism to determine the next global state of the blockchain.
  • The Bitcoin protocol has a target block time of 10 minutes, and a maximum supply of 21 million tokens. The only way new bitcoins can be produced is when a block producer generates a new valid block.
  • The protocol has a token emission rate that halves every 210,000 blocks, or approximately every 4 years.
  • Unlike public blockchain infrastructures supporting the development of decentralized applications (Ethereum), the Bitcoin protocol is primarily used only for payments, and has only very limited support for smart contract-like functionalities (Bitcoin “Script” is mostly used to create certain conditions before bitcoins are used to be spent).

2. Bitcoin’s core features

For a more beginner’s introduction to Bitcoin, please visit Binance Academy’s guide to Bitcoin.

Unspent Transaction Output (UTXO) model

A UTXO transaction works like cash payment between two parties: Alice gives money to Bob and receives change (i.e., unspent amount). In comparison, blockchains like Ethereum rely on the account model.
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Nakamoto consensus

In the Bitcoin network, anyone can join the network and become a bookkeeping service provider i.e., a validator. All validators are allowed in the race to become the block producer for the next block, yet only the first to complete a computationally heavy task will win. This feature is called Proof of Work (PoW).
The probability of any single validator to finish the task first is equal to the percentage of the total network computation power, or hash power, the validator has. For instance, a validator with 5% of the total network computation power will have a 5% chance of completing the task first, and therefore becoming the next block producer.
Since anyone can join the race, competition is prone to increase. In the early days, Bitcoin mining was mostly done by personal computer CPUs.
As of today, Bitcoin validators, or miners, have opted for dedicated and more powerful devices such as machines based on Application-Specific Integrated Circuit (“ASIC”).
Proof of Work secures the network as block producers must have spent resources external to the network (i.e., money to pay electricity), and can provide proof to other participants that they did so.
With various miners competing for block rewards, it becomes difficult for one single malicious party to gain network majority (defined as more than 51% of the network’s hash power in the Nakamoto consensus mechanism). The ability to rearrange transactions via 51% attacks indicates another feature of the Nakamoto consensus: the finality of transactions is only probabilistic.
Once a block is produced, it is then propagated by the block producer to all other validators to check on the validity of all transactions in that block. The block producer will receive rewards in the network’s native currency (i.e., bitcoin) as all validators approve the block and update their ledgers.

The blockchain

Block production

The Bitcoin protocol utilizes the Merkle tree data structure in order to organize hashes of numerous individual transactions into each block. This concept is named after Ralph Merkle, who patented it in 1979.
With the use of a Merkle tree, though each block might contain thousands of transactions, it will have the ability to combine all of their hashes and condense them into one, allowing efficient and secure verification of this group of transactions. This single hash called is a Merkle root, which is stored in the Block Header of a block. The Block Header also stores other meta information of a block, such as a hash of the previous Block Header, which enables blocks to be associated in a chain-like structure (hence the name “blockchain”).
An illustration of block production in the Bitcoin Protocol is demonstrated below.

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Block time and mining difficulty

Block time is the period required to create the next block in a network. As mentioned above, the node who solves the computationally intensive task will be allowed to produce the next block. Therefore, block time is directly correlated to the amount of time it takes for a node to find a solution to the task. The Bitcoin protocol sets a target block time of 10 minutes, and attempts to achieve this by introducing a variable named mining difficulty.
Mining difficulty refers to how difficult it is for the node to solve the computationally intensive task. If the network sets a high difficulty for the task, while miners have low computational power, which is often referred to as “hashrate”, it would statistically take longer for the nodes to get an answer for the task. If the difficulty is low, but miners have rather strong computational power, statistically, some nodes will be able to solve the task quickly.
Therefore, the 10 minute target block time is achieved by constantly and automatically adjusting the mining difficulty according to how much computational power there is amongst the nodes. The average block time of the network is evaluated after a certain number of blocks, and if it is greater than the expected block time, the difficulty level will decrease; if it is less than the expected block time, the difficulty level will increase.

What are orphan blocks?

In a PoW blockchain network, if the block time is too low, it would increase the likelihood of nodes producingorphan blocks, for which they would receive no reward. Orphan blocks are produced by nodes who solved the task but did not broadcast their results to the whole network the quickest due to network latency.
It takes time for a message to travel through a network, and it is entirely possible for 2 nodes to complete the task and start to broadcast their results to the network at roughly the same time, while one’s messages are received by all other nodes earlier as the node has low latency.
Imagine there is a network latency of 1 minute and a target block time of 2 minutes. A node could solve the task in around 1 minute but his message would take 1 minute to reach the rest of the nodes that are still working on the solution. While his message travels through the network, all the work done by all other nodes during that 1 minute, even if these nodes also complete the task, would go to waste. In this case, 50% of the computational power contributed to the network is wasted.
The percentage of wasted computational power would proportionally decrease if the mining difficulty were higher, as it would statistically take longer for miners to complete the task. In other words, if the mining difficulty, and therefore targeted block time is low, miners with powerful and often centralized mining facilities would get a higher chance of becoming the block producer, while the participation of weaker miners would become in vain. This introduces possible centralization and weakens the overall security of the network.
However, given a limited amount of transactions that can be stored in a block, making the block time too longwould decrease the number of transactions the network can process per second, negatively affecting network scalability.

3. Bitcoin’s additional features

Segregated Witness (SegWit)

Segregated Witness, often abbreviated as SegWit, is a protocol upgrade proposal that went live in August 2017.
SegWit separates witness signatures from transaction-related data. Witness signatures in legacy Bitcoin blocks often take more than 50% of the block size. By removing witness signatures from the transaction block, this protocol upgrade effectively increases the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second. As a result, SegWit increases the scalability of Nakamoto consensus-based blockchain networks like Bitcoin and Litecoin.
SegWit also makes transactions cheaper. Since transaction fees are derived from how much data is being processed by the block producer, the more transactions that can be stored in a 1MB block, the cheaper individual transactions become.
https://preview.redd.it/depya70mf3151.png?width=1601&format=png&auto=webp&s=a6499aa2131fbf347f8ffd812930b2f7d66be48e
The legacy Bitcoin block has a block size limit of 1 megabyte, and any change on the block size would require a network hard-fork. On August 1st 2017, the first hard-fork occurred, leading to the creation of Bitcoin Cash (“BCH”), which introduced an 8 megabyte block size limit.
Conversely, Segregated Witness was a soft-fork: it never changed the transaction block size limit of the network. Instead, it added an extended block with an upper limit of 3 megabytes, which contains solely witness signatures, to the 1 megabyte block that contains only transaction data. This new block type can be processed even by nodes that have not completed the SegWit protocol upgrade.
Furthermore, the separation of witness signatures from transaction data solves the malleability issue with the original Bitcoin protocol. Without Segregated Witness, these signatures could be altered before the block is validated by miners. Indeed, alterations can be done in such a way that if the system does a mathematical check, the signature would still be valid. However, since the values in the signature are changed, the two signatures would create vastly different hash values.
For instance, if a witness signature states “6,” it has a mathematical value of 6, and would create a hash value of 12345. However, if the witness signature were changed to “06”, it would maintain a mathematical value of 6 while creating a (faulty) hash value of 67890.
Since the mathematical values are the same, the altered signature remains a valid signature. This would create a bookkeeping issue, as transactions in Nakamoto consensus-based blockchain networks are documented with these hash values, or transaction IDs. Effectively, one can alter a transaction ID to a new one, and the new ID can still be valid.
This can create many issues, as illustrated in the below example:
  1. Alice sends Bob 1 BTC, and Bob sends Merchant Carol this 1 BTC for some goods.
  2. Bob sends Carols this 1 BTC, while the transaction from Alice to Bob is not yet validated. Carol sees this incoming transaction of 1 BTC to him, and immediately ships goods to B.
  3. At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.
  4. Now Carol will not receive his 1 BTC, as the network looks for transaction 12345 to ensure that Bob’s wallet balance is valid.
  5. As this particular transaction ID changed from 12345 to 67890, the transaction from Bob to Carol will fail, and Bob will get his goods while still holding his BTC.
With the Segregated Witness upgrade, such instances can not happen again. This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature won’t affect the transaction ID.
Since the transaction malleability issue is fixed, Segregated Witness also enables the proper functioning of second-layer scalability solutions on the Bitcoin protocol, such as the Lightning Network.

Lightning Network

Lightning Network is a second-layer micropayment solution for scalability.
Specifically, Lightning Network aims to enable near-instant and low-cost payments between merchants and customers that wish to use bitcoins.
Lightning Network was conceptualized in a whitepaper by Joseph Poon and Thaddeus Dryja in 2015. Since then, it has been implemented by multiple companies. The most prominent of them include Blockstream, Lightning Labs, and ACINQ.
A list of curated resources relevant to Lightning Network can be found here.
In the Lightning Network, if a customer wishes to transact with a merchant, both of them need to open a payment channel, which operates off the Bitcoin blockchain (i.e., off-chain vs. on-chain). None of the transaction details from this payment channel are recorded on the blockchain, and only when the channel is closed will the end result of both party’s wallet balances be updated to the blockchain. The blockchain only serves as a settlement layer for Lightning transactions.
Since all transactions done via the payment channel are conducted independently of the Nakamoto consensus, both parties involved in transactions do not need to wait for network confirmation on transactions. Instead, transacting parties would pay transaction fees to Bitcoin miners only when they decide to close the channel.
https://preview.redd.it/cy56icarf3151.png?width=1601&format=png&auto=webp&s=b239a63c6a87ec6cc1b18ce2cbd0355f8831c3a8
One limitation to the Lightning Network is that it requires a person to be online to receive transactions attributing towards him. Another limitation in user experience could be that one needs to lock up some funds every time he wishes to open a payment channel, and is only able to use that fund within the channel.
However, this does not mean he needs to create new channels every time he wishes to transact with a different person on the Lightning Network. If Alice wants to send money to Carol, but they do not have a payment channel open, they can ask Bob, who has payment channels open to both Alice and Carol, to help make that transaction. Alice will be able to send funds to Bob, and Bob to Carol. Hence, the number of “payment hubs” (i.e., Bob in the previous example) correlates with both the convenience and the usability of the Lightning Network for real-world applications.

Schnorr Signature upgrade proposal

Elliptic Curve Digital Signature Algorithm (“ECDSA”) signatures are used to sign transactions on the Bitcoin blockchain.
https://preview.redd.it/hjeqe4l7g3151.png?width=1601&format=png&auto=webp&s=8014fb08fe62ac4d91645499bc0c7e1c04c5d7c4
However, many developers now advocate for replacing ECDSA with Schnorr Signature. Once Schnorr Signatures are implemented, multiple parties can collaborate in producing a signature that is valid for the sum of their public keys.
This would primarily be beneficial for network scalability. When multiple addresses were to conduct transactions to a single address, each transaction would require their own signature. With Schnorr Signature, all these signatures would be combined into one. As a result, the network would be able to store more transactions in a single block.
https://preview.redd.it/axg3wayag3151.png?width=1601&format=png&auto=webp&s=93d958fa6b0e623caa82ca71fe457b4daa88c71e
The reduced size in signatures implies a reduced cost on transaction fees. The group of senders can split the transaction fees for that one group signature, instead of paying for one personal signature individually.
Schnorr Signature also improves network privacy and token fungibility. A third-party observer will not be able to detect if a user is sending a multi-signature transaction, since the signature will be in the same format as a single-signature transaction.

4. Economics and supply distribution

The Bitcoin protocol utilizes the Nakamoto consensus, and nodes validate blocks via Proof-of-Work mining. The bitcoin token was not pre-mined, and has a maximum supply of 21 million. The initial reward for a block was 50 BTC per block. Block mining rewards halve every 210,000 blocks. Since the average time for block production on the blockchain is 10 minutes, it implies that the block reward halving events will approximately take place every 4 years.
As of May 12th 2020, the block mining rewards are 6.25 BTC per block. Transaction fees also represent a minor revenue stream for miners.
submitted by D-platform to u/D-platform [link] [comments]

Seeing a pattern hear

- Generational member of ruling bloodline family states on September 10 , 2008 " I am prepared to give you some things coming down the timeline, that you will be able to look back upon, and verify my predictions retrospectively. The stock markets will soon complete there controlled demolition. After an initial "appearance" that the "bail outs" and "rescue packages' have steadied the ship, there will be new record lows by the end of the month. Our financial institutions will later call in all loans. There will be many bankruptcies and foreclosures. ------There will be a new currency by the end of 2008 / early 2009 ( he or she is talking about bitcoin)
- Great recession of 20th century started in December 2007 and ended/ declared a global depression in June 2009.
- " The domain name "bitcoin.org" was registered on 18 August 2008.[21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[4] was posted to a cryptography mailing list.[22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[23][24][16] Nakamoto's identity remains unknown
- The WHO declares global pandemic (H1N1) July 1st 2009
- Bitcoin block halving reward countdown 44 days from now (April 13 or 14) 2020
- Covid 19 seems to be the cover up for this for another looming recession thats been happening up until the boiling point
Im not that well versed on natural law so I am going to ask questions now in hopes of jumping over the impediment of my free will/ sovereignty so here it goes. What is going to happen 40 plus days from now that will effect the world? What is the plan behind the scheduling of bitcoin, virus plot, recession etc ? What are all of the laws that you follow as to not accumulate karmic debit?
https://preview.redd.it/mway6k7qlup41.jpg?width=1136&format=pjpg&auto=webp&s=d1a8f3d84b8caaf5c0b64ca6134d64e8119be4f4
https://preview.redd.it/4lhsie4tlup41.jpg?width=1136&format=pjpg&auto=webp&s=f9cfba3567b96e3992b6d4c9162ccfad89d54370
submitted by shayeyetuh to Bitcoin [link] [comments]

Blockchain triggers a new technological revolution, ETX public chain is born, and both opportunities and challenges exist.

Blockchain triggers a new technological revolution, ETX public chain is born, and both opportunities and challenges exist.
Blockchain technology is the core technology that has the most potential to trigger the fifth round of disruptive revolution after steam engine, power, information and Internet technology. . The concept of digital currency Bitcoin (Bitcoin) was originally proposed by Satoshi Nakamoto in 2009. It is an electronic cash system implemented through peer-to-peer technology. The core of Bitcoin is reflected in the underlying blockchain technology. The blockchain can establish decentralized trust from the technical level, which has a disruptive impact on the institutional basis of the existing financial system and the relationship between participants. With the gradual recognition of Bitcoin and the exploration and practice of global geeks, the digital currency industry is booming.

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When blockchain technology opportunities and challenges coexist, ETX (EthereumX · NET) came into being. ETX (EthereumX · NET) is a blockchain smart contract consensus network graphics card mining public chain for certified entity identities; it adopts a brand-new blockchain architecture and is positioned as an easy-to-use high-performance blockchain platform. The performance of distributed applications is expanded to meet the real business needs of the real world.
ETX (EthereumX · NET) quickly establishes a decentralized authentication entity and application for different identities based on a complete user privacy protection and identity authentication mechanism, based on low-cost and efficient PoW + DPoS consensus algorithm, and customized smart contracts , An intelligent ecological network for resource sharing and self-development. Relying on graphics cards, digital assets as a means of circulation, and ultimately, a benign circular economy model that returns to the real world and promotes the development of the real economy through scene applications.

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Among them, digital currency, as a big product of blockchain, was questioned by many people at the beginning of its birth, because in this part of people's eyes, digital currency itself has no value, and digital currency is not a real economy. In fact, the virtual real meaning of digital currency refers to the network. The remoteness of the network used to be an incredible thing in the past, so it makes people feel amazing in speed. The digital currency uses the network's efficiency and speed to transmit ETX (EthereumX · NET), Bitcoin and other currencies, so it is given the title of virtual currency.
The ETX public chain provides stable and efficient infrastructure, standardized and modular application plug-ins, full-process technology and model consulting, etc., enabling the team to develop applications and DApps based on the ETX ecological network, including: multi-currency decentralized wallets, decentralized Exchanges, decentralized peer-to-peer trading systems, etc. ETX (including pre-sales, consumer terminals, trading platforms, etc.) obtained by users from any channel can be freely traded in the ETX ecosystem, and seamlessly connect with other digital assets to achieve free payment and circulation.
The arrival of decentralization will make another change in the way people trade in the future. This will be a revolution and a huge opportunity. When the huge waves swept in, if we stayed in place or moved like a snail, we would be greeted with only broken bones. The market changes rapidly, and only by seizing the opportunity and acting swiftly can we have smooth winds and sunshine.

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The blockchain triggers a new technological revolution, the ETX public chain is born, opportunities and challenges coexist, and everything is possible in the future. (There are risks in the market, investment needs to be cautious, please do as your capability permits.)
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Seeking group effort on opinions and insights

Seeking group effort on opinions and insights
- Generational member of ruling bloodline family states on September 10 , 2008 " I am prepared to give you some things coming down the timeline, that you will be able to look back upon, and verify my predictions retrospectively. The stock markets will soon complete there controlled demolition. After an initial "appearance" that the "bail outs" and "rescue packages' have steadied the ship, there will be new record lows by the end of the month. Our financial institutions will later call in all loans. There will be many bankruptcies and foreclosures. ------There will be a new currency by the end of 2008 / early 2009 ( he or she is talking about bitcoin)
- Great recession of 20th century started in December 2007 and ended/ declared a global depression in June 2009.
- " The domain name "bitcoin.org" was registered on 18 August 2008.[21] On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[4] was posted to a cryptography mailing list.[22] Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.[23][24][16] Nakamoto's identity remains unknown
- The WHO declares global pandemic (H1N1) July 1st 2009
- Bitcoin block halving reward countdown 44 days from now (April 13 or 14) 2020
- Covid 19 seems to be the cover up for this for another looming recession thats been happening up until the boiling point
Im not that well versed on natural law so I am going to ask questions now in hopes of jumping over the impediment of my free will/ sovereignty so here it goes. What is going to happen 40 plus days from now that will effect the world? What is the plan behind the scheduling of bitcoin, virus plot, recession etc ? What are all of the laws that you follow as to not accumulate karmic debit?
https://preview.redd.it/mway6k7qlup41.jpg?width=1136&format=pjpg&auto=webp&s=d1a8f3d84b8caaf5c0b64ca6134d64e8119be4f4
https://preview.redd.it/4lhsie4tlup41.jpg?width=1136&format=pjpg&auto=webp&s=f9cfba3567b96e3992b6d4c9162ccfad89d54370
submitted by shayeyetuh to conspiracyNOPOL [link] [comments]

Introduction to Cryptocurrency: BTC, the King of All Tokens

Introduction to Cryptocurrency: BTC, the King of All Tokens
Written by the CoinEx Institution, this series of jocular and easy to understand articles will show you everything you need to know about major cryptocurrencies, making you fully prepared before jumping into crypto!
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If you are not in the cryptocurrency field, “BTC” may be a stranger to you, but not the Bitcoin. BTC is the abbreviation for Bitcoin. In addition, it has another name: XBT.
Speaking of BTC, we have to mention one name, Satoshi Nakamoto, father of BTC. His story started from 2008 when a financial crisis broke out across the world, which laid a foundation for the birth of BTC.
On November 1 that year, a person claiming to be Satoshi Nakamoto published the BTC White Paper titled “BTC: A Peer-to-Peer Electronic Cash System” on a P2P foundation website, marking the birth of BTC. Two months later, on January 3, 2009, the BTC genesis block was created. BTC got rid of the constraints of third-party institutions by distributed ledgers, which Nakamoto called the “blockchain.” If users are prepared to dedicate their CPU hashrate to run a special software, they can become a “miner”. While mining new BTC, the miners also set up a network to maintain the blockchain together.
At the time, BTC was considered as a virtual commodity, not a currency, by some countries, banks and government agencies. It wasn’t until one day a man bought two pizzas for the 10,000 BTC he had mined that BTC had its value (What a losing business).
After that, there are ups and downs of the BTC market, but the identity of Nakamoto, has always remained a mystery. Some say he’s from the National Security Agency, and some say he’s a financial expert. But still, he is nowhere to find, and nobody knows anything about him.
The wonderful part of BTC lies in the fact that it is something anyone can mine! But if you think you can mine as many BTC as you want, think twice. To avoid inflation, the upper limit for the number of BTC was set at 21 million. Without relying on the central authority, BTC is issued by the blockchain. Assets and transactions are secured by the digital encryption algorithms and the entire network to resist 51% hashrate attacks. Transaction records are collected and maintained by all computers on the network, and the validity of each transaction must be confirmed by blockchain inspection.
People say, having been widely recognized and used, the BTC technology presents all mankind with an era of blockchain. As the king of cryptocurrency, what makes BTC so special?
1. Decentralization
BTC is the first distributed cryptocurrency. The entire network consists of users and there is no central bank. Decentralization guarantees the security and freedom of BTC.
2.Worldwide circulation
BTC can be managed on any computer connected to the Internet. No matter where you are, you can mine, buy, sell or receive it. That is exactly what makes it a magnet for a lot of miners and users.
3. Exclusive ownership
Controlling your BTC requires your private key, which can be isolated and stored on any storage medium, and no one can get it except yourself. That experience makes you feel so special and secured.
4.Low transaction fees and no hidden costs
The BTC network will charge a certain fee for each transaction to ensure faster transaction execution. In addition, as an A-to-B payment method, BTC does not have tedious procedures or limits, and users only need to provide a BTC address to make payment. How convenient!
5. Cross-platform mining
Bitcoin is definitely a passion for geeks! Miners can discover the hashrate of different hardware on many platforms. BTC mining can be both profitable and fun.
Today the circulating market value of BTC has reached 1.32 trillion, and the reward is halved about every 4 years. In May 2020 we will usher in the third halving of Bitcoin, with a block height of 630,000, and the reward will be directly reduced from 12.5 BTC to 6.25 BTC. By 2140, there will be no more new Bitcoin generated in the world, and the number of Bitcoin in circulation will not exceed 21 million.
If you want to enter the cryptocurrency field, you might as well start by buying BTC. It may present a new door to wealth in front of you, and the key to this door lies in CoinEx. Come on, learn more and trade! https://www.coinex.com/
submitted by CoinExcom to Coinex [link] [comments]

Who Is Satoshi Nakamoto?

Bitcoin and cryptocurrencies are the new trend market today almost everywhere people are talking about Bitcoins, particularly with examples that someone has made millions in only a couple of years by smartly investing in bitcoins. It is decentralized, which means it isn't controlled nor backed up by any administration, nation, or an individual element. Unlike traditional currencies, such as dollars and euros, bitcoins are issued and managed without any regulation from any central government. Thus, it is more resistant to inflation and corruption. A Bitcoin derives its value basically from the demand and usage of bitcoins, similar to a stock. With this kind of innovation, everyone is thinking about how Bitcoin started and who created this kind of technology? The name "bitcoin.org" was registered on 18 August 2008. While on the 31st of October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as an open-source code and released it in January 2009. Then on the 3rd of January 2009, the bitcoin network was created when Nakamoto mined the first block of the chain, known as the genesis block. Embedded in the coinbase of this block was the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks". This note references a headline published by The Times and has been interpreted as both timestamp and comment on the instability caused by fractional-reserve banking.
With all these groundbreaking accomplishments of bitcoin, Nakamoto's identity remains unknown. Several speculations and theories were made, but all of these speculations don't have concrete evidence to prove their speculations are true. One of the first and most easily dismissed claims was that of Dorian Satoshi Nakamoto. The 68-year-old Japanese-American living in California, was identified in a 2014 Newsweek article as the elusive Bitcoin creator. Despite his work as a systems engineer on classified US defense projects as well as his background in digital finance, the homonymous nature was sheer coincidence. While one of the most intriguing speculations is the announcement made by Craig Wright that he is Satoshi Nakamoto. As said to this article, Craig Wright is an Australian academic who was brought into the spotlight of Satoshi when Wired Magazine published an article in 2015 claiming Wright “either invented Bitcoin, or is a brilliant hoaxer”. Shortly after the Wired article was released, Gizmodo released their article stating they were contacted by a supposed hacker that had gained access to Wright’s emails and claimed that Satoshi Nakamoto was a pseudonym for Wright and his accomplice, the deceased cybersecurity expert David Kleinmen. However, when asked to provide evidence a list of addresses associated with the Tulip Trust, said to hold almost 1 million BTC the documents were highly redacted and shed little light on the true nature of Wrights involvement in the birth of Bitcoin. Still the story is not yet and finish and there is still no enough evidence in this proclamation of Craig Wright. The man behind the empire of bitcoin is still unknown, but it'll just be a matter of time till someone claims that he, she or they, are the people behind Bitcoin.
submitted by colenorris to CryptoCurrencyTrading [link] [comments]

Who is Satoshi Nakamoto and where is he now?

Where does Satoshi Nakamoto come from?

Any person that has been doing some research on cryptocurrencies, especially Bitcoin, probably has heard of this name before. Satoshi Nakamoto. Who is this mysterious man and why does no one know who he is? This goes back to October 2008, when an unknown user by the name of Nakamoto sent out the whitepaper for Bitcoin, a peer-to-peer Electronic Cash System to a cryptographic newsletter. After the announcement had been done and the manifesto describing the revolution Nakamoto was aiming to start, in January the software was released. He was the person to mine the Genesis block encrypted with the headline of the New York Times of that day. Nakamoto has stopped using his Bitcoin since mid-January 2009, with nowadays having Bitcoin that is worth over 19 Billion dollars. Unclear is to say if Nakamoto still has access to these coins. If so, he could just be the 44th richest person in the world. The problem is, nobody knows who Satoshi Nakamoto is. Besides a couple of posts on the forums about Bitcoin, there has been no personal messages or activities shared by Nakamoto.

Who is Satoshi Nakamoto?

There are many different stories including many different answers to these questions. Let’s have a look at some of the most known speculations out there and see why they might be or might not be Satoshi, the creator of Bitcoin.
Hal Finney This man was one of the pioneers in the field of cryptography prior to Bitcoin being created. Back in 2009, Finney was the first person to ever do a Bitcoin transaction and besides Nakamoto himself, he was the only person to use the software. Many analysts have compared Finney’s writing to the published work of Nakamoto and found many similar techniques and styles. Years later, Finney denied all the claims as he showed correspondence between him and Nakamoto pointing at someone else being Nakamoto. Finney has died in 2014 and his family chose to freeze his body.
Dorian Nakamoto This man is the only person who actually has the same name. Dorian Nakamoto has the birth name ‘Satoshi Nakamoto’, but this is not the only evidence. An article published in Newsweek showed an interview with Dorian confirming his affiliation with Bitcoin and confirming being the founder. The following interview, however, implicated Dorian had never heard of any virtual currency named Bitcoin nor does he have had anything to do with it. After the interview, the account used by Satoshi five years ago weirdly posted ‘I am not Dorian Nakamoto’. Whether this was the real Satoshi or a hacker, is unclear.
Craight Wright Probably the most known example is ‘Faketoshi’, better known as Craight Wright. Anyone that has known Bitcoin for a while knows it’s decentralized and the power is that no one is in charge. Anyone associated with Bitcoin confirms the identity of Nakamoto has to remain anonymous, except for Craig Wright. Ever since 2015, Wright has been claiming to be the inventor of Bitcoin. The fact that he has been affiliated with the project for years is clear, but being the inventor is false as confirmed by many Bitcoin pioneers. A couple weeks ago, the court has officially stated Craight Wright could not prove to be the inventor of Bitcoin.
In reality, nobody knows the real identity of Satoshi Nakamoto. The only way to confirm this is bringing all the old accounts back to live, moving the coins in the wallet that has been idle since 2009 and confirming the identity. This can be tough, Nakamoto might not even be alive nowadays. The beauty is, he does not have to be alive for Bitcoin to survive!
SwapSpace team is always ready for discussion. You can drop an email about your suggestions and questions to [[email protected]](mailto:[email protected]) Join our social networks: Twitter, Medium, Facebook The best rates on https://swapspace.co/ Why is SwapSpace https://blog.swapspace.co/2019/09/17/why-is-swapspace/
submitted by SwapSpace_co to LitecoinMarkets [link] [comments]

Just a quick reminder why Bitcoin was invented in the first place. This used to be preaching to the choir. But these days I am not so sure.

So, if you find yourself religiously checking some cryptocurrency’s price, or bogged down in discussions about the “one true bitcoin”, or constantly asking what currency to buy, please at least remember that we have bigger fish to fry.
We are here to fix the financial system.
Edit: wow, thanks for the gold!
submitted by hodlgentlemen to Bitcoin [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
Well before Bitcoin and other cryptographic forms of money became computerized monetary standards, a thought showed up on one of the discussions. Before a coin pulled in the consideration of thousands and perhaps a great many speculators, common admirers of new items and the individuals who need to benefit from the following complimentary gift – known as "Satoshi Nakamoto" proposed one intriguing thought that was effectively actualized sooner rather than later.

In October 2008, an article was distributed by Satoshi Nakamoto: "A Peer-to-Peer Electronic Cash System" which implies: a decentralized or fair electronic money framework.

Satoshi turned into the dad of digital money or blockchain. There were various endeavors to make comparable structures, yet it was totally concentrated — like existing financial structures.

The principal form of Bitcoin code was discharged in January 2009. The principal hinder in the Bitcoin blockchain was made, which offered ascend to the first Bitcoin mining. This exchange was between Nakamoto himself and one of the engineers named Hal Finney.

At first, Bitcoin didn't have a conversion scale and proportionality in fiat money, yet in October 2009, one US dollar was equivalent to 1.309 Bitcoin. The conversion standard was equivalent to the expense of power to make the first Bitcoin through mining.

In 2010, the first Bitcoin trade was made. It was classified "dwdollar". Florida designer Laszlo Hanetz paid 10,000 bitcoins to somebody in England, who in return purchased Laszlo pizza which cost $25. It was the most costly pizza ever. At the hour of this composition, 10,000 bitcoins is equivalent to $130,000. For instance, in mid-December 2017, 10,000 bitcoins was equivalent to practically a large portion of a million dollars.

In August 2010, programmers found a powerless spot in the Bitcoin blockchain, which permitted them to produce 184 billion Bitcoins and the cost of Bitcoin dropped at that point.

The Bitcoin trade stage called "MtGox" was made that year and Bitcoin; finished 2010 with a market capitalization of simply over $ 1 million.

In 2011, a bootleg market was made under the name "Silk Road" in view of Bitcoin. The primary thought of ​​this venture was unknown exchanges. Unexpectedly, the cost of Bitcoin transcended $ 1. Simultaneously, Bitcoin picked up popularity as an underground market cash or an approach to buy drugs on the web.

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In 2012, a few organizations started to apply and acknowledge Bitcoin as a cash to pay for products and enterprises. Before the finish of 2013, the cost of one Bitcoin was somewhat more than $ 1,000.

In 2014, China, USA and UK started to make rules and limitations on the utilization and tax assessment from Bitcoin, which permitted the utilization of Bitcoin by money related organizations. Numerous organizations, including Microsoft, have started to acknowledge installments in Bitcoins.

In February of that year, the fundamental Bitcoin trade "MtGox", was along these lines hacked by DDOS assaults, losing a great many dollars and hurriedly shut. Notwithstanding this, the cost of Bitcoin, however dropped to $200, balanced out in the scope of $200 and 350.

During 2015, the cost of Bitcoin stayed stable and Bitcoin started to secure the characteristics of an authentic cash. Ross Ulbricht, the author of the Silk Road, was condemned to life detainment, motioning to the world that Bitcoin can't be utilized for criminal purposes without any potential repercussions.

Another hacking happened in 2016 on one of the cryptographic money wallet administrations, because of which around 72 million US dollars were lost.

At last, toward the finish of 2017, the cost of 1 coin went up to 20,000 US dollars, beginning in 2017 with a cost of $1,000. Directly after, because of the way that numerous nations have restricted the utilization of cryptographic forms of money, and the primary informal organizations like Facebook and others have prohibited the promoting of digital currencies for different reasons. Before the finish of 2018, the cost of Bitcoin went down to $3,000, which made mining practically unrewarding. The cost went up the following year. At the hour of this composition, the bitcoin cost is $5,300.
submitted by Bitcoinsinvestment13 to u/Bitcoinsinvestment13 [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
From the earliest starting point, it was a riddle. In 2008, somebody utilizing the moniker Satoshi Nakamoto distributed a paper to a cryptography mailing list. It was called Bitcoin: A Peer-to-Peer Electronic Cash System.

Much to anyone's dismay that, at its tallness, it would build up a whole market (the crypto showcase) esteemed at $800B. That is more cash than Coca Cola, McDonald's, Ford, Caterpillar, Nike, Nintendo, and Goldman Sachs consolidated. What's more, presently, with that enormous fortune behind it, some think this single PDF can possibly overturn the whole worldwide financial industry.

On one side of this fight is a gathering of obscure cyrptographers competing to cut down business as usual. On the opposite side is the United States government, the European Union, JPMorgan Chase, and Deutsche Bank.

Money making governments over the globe, if truly tested, will persevere relentlessly to keep control of their financial frameworks. They'll likely locate an all around financed partner in the 50-trillion-dollar banking industry. The War on Money may be the most basic war of the cutting edge period in light of the fact that the victor will choose the destiny of creating economies, tax collection, expansion, fear based oppression, and — quite possibly — democracy itself.

You'd think with that much in question, the creator of this infamous paper would step into the spotlight. During Bitcoin's fleeting ascent, as the maker's close to home riches outperformed one billion dollars, you'd envision someone would reveal him. What's more, when his riches arrived at an expected $19.4B, you'd accept the IRS would come thumping.

In any case, no one has even had the option to find the baffling Nakamoto. What's more, that is part Bitcoin's allure. For the individuals who don't have the foggiest idea, Bitcoin resembles an advanced dollar. In 2009, it was worth short of what one-tenth of one penny, and in 2017, it was worth $20,000. Inside a couple of days, it tends to be worth half or twice to such an extent. Its worth vacillates quickly. That is one of its issues. Yet, the best part about Bitcoin is the one thing that doesn't change. On the off chance that you recognize what you're doing, it's difficult to find. It's generally unknown.

It's the unknown piece that is pulled in light of a legitimate concern for everyone from tax criminals to medicate dealers to fraudsters. By its very nature, Bitcoin is difficult to control. What's more, something that is difficult to control makes it simple to swindle a great deal of laws to make a huge amount of cash.

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On the off chance that you would've purchased $10 worth of Bitcoin in 2009, you'd be perched on a cool $200M at the present time. That is the sort of news feature the normal individual focuses on. So news systems began announcing it. Your companions began getting it. What's more, it appeared anyone who put a couple of bucks into Bitcoin was getting the money for out with basins of gold. So the franticness started, in 2017, when Bitcoin went from a play-toy of technologists and an empowering influence of sorted out wrongdoing to a typical speculation held by pretty much everybody's grandmother.

I'm not here to disclose to you that Bitcoin is an air pocket, since I am not even close to able to demonstrate that. Specialists are as yet discussing if Bitcoin is a ware, a security, a store of significant worth, a cash, or some out and out new resource class completely. Due to this I won't start to evaluate the genuine estimation of Bitcoin. I'm not by any means sure it bodes well to. What's more, on the off chance that I by one way or another could, in the event that I had some mystery, insightful capacity to know where the cost of Bitcoin was going, I'd contribute, not composing this article.

What I am here to do is: inform you regarding the con artists. Since they're all over the place. It's explicitly self-evident. Furthermore, on the off chance that you are very brave, or you're considering getting a few (or some other Cryptocurrency), you better know exactly how awful the con artists are. Since when you're the least educated individual on the trade, you get counted on.

How profound does the Rabbit-Hole Gox?

On January 3, 2009, Satoshi Nakamoto set up the Genesis square. That is an extravagant method for saying he "mined" the first Bitcoin.

He didn't go out to some collapse Madagascar with a pickax and return with a sparkling, valuable metal. He ran a hashing calculation on his PC for some time and put away the outcomes in a record. We consider that record the "blockchain". It's open data. The explanation it's open is with the goal that it's circulated. The explanation it's dispersed is on the grounds that, dissimilar to with US Dollars, in the event that you jump on some administration authority's awful side, there's for all intents and purposes no danger of your benefits being solidified (or taken).

The blockchain is a really progressive innovation. Also, after the secretive Nakamoto discharges the Genesis square to the general population, crypto lovers pay heed. Some of them start "mining" Bitcoin. Some of them do it because of the decency of their souls. In any case, a great deal of them are presumably determined by the prize that gives "mining" its name. At the point when you run this hashing calculation on squares of exchanges and store the outcomes to the open record, you're remunerated with Bitcoin. At its pinnacle, this prize could add up to in excess of 250,000 US Dollars.
submitted by Bitcoin12investment to u/Bitcoin12investment [link] [comments]

Who Is The CEO Of Bitcoin?

Bitcoin was conceived as a communal project. Designed as an open-source software and released to the public in 2009, Bitcoin was conceived with openness in mind. Functioning on an open ledger that is accessible to the public, Bitcoin is an open-source project. Bitcoin works on a vast public ledger, also called a blockchain, where all confirmed transactions are included as so-called blocks. As each block enters the system, it is broadcast to the peer-to-peer computer network of users for validation. In this way, all users are aware of each transaction, which prevents stealing and double-spending, where someone spends the same currency twice. The process also helps blockchain users trust the system. But despite the transparency of the platform, one grand mystery remains unsolved: Who created bitcoin and who exactly is Satoshi Nakamoto? The origin of "bitcoin.org" was registered on 18 August 2008. While on the 31st of October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list.
Then on the 3rd of January 2009, the bitcoin network was created when Nakamoto mined the first block of the chain, known as the genesis block. Within that day until now the information about Satoshi Nakamoto is still unknown. That's why speculations emerge on who could Satoshi Nakamoto possibly be. As said to this article, One of the first and most easily dismissed claims was that of Dorian Satoshi Nakamoto. The 68-year-old Japanese-American living in California, was identified in a 2014 Newsweek article as the elusive Bitcoin creator. Still, this is just coincidence and admits that he's not the creator of bitcoin. The next person on the list is a bit more plausible. A cryptography enthusiast as well as a pioneer in decentralized digital currency, Nick Szabo developed a precursor to Bitcoin, BitGold. But he said that he get it a lot and he's getting used to it but his not Satoshi. This brings us to the latest, and most interesting, if not most compelling suspect: Craig Wright. For he claims that he is Satoshi Nakamoto but when asked to prove his statements he presented vague pieces of evidence. Wired Magazine published an article in 2015 claiming Wright “either invented Bitcoin, or is a brilliant hoaxer”. Shortly after the Wired article was released, Gizmodo released their article stating they were contacted by a supposed hacker that had gained access to Wright’s emails and claimed that Satoshi Nakamoto was a pseudonym for Wright and his accomplice. Still, this is not enough evidence to prove what he is claiming. Significantly, Satoshi Nakamoto becomes a large character in the cryptosphere and bitcoin that's why it's not surprising that some would like to take the spotlight and claim that they are Satoshi.
submitted by artandlitecrypto to Crypto_General [link] [comments]

Brief History Of Bitcoin

Brief History Of Bitcoin
Bitcoins have been classed as the world's originally decentralized cash, and for as far back as ten years, they have become all the more notable and keep on developing in notoriety.

The following is a concise history of how the Bitcoin began and what has occurred since.

2007 - It was in 2007 that the idea of the Bitcoin started. It is accepted that it was begun by Satoshi Nakamoto, in spite of the fact that very little is thought about him, other than the reality he is on record as living in Japan. Truth be told, many conjecture this may very well be a pen name more than one individual. Albeit soon, this character totally evaporated from the world.

August 2008 An application for an encryption patent application was recorded by three people who denied having any association with the supposed originator of the Bitcoin idea. They were Neal Kin, Vladimir Oksman and Charles Bry.

Around the same time, they namelessly purchased and enlisted the space bitcoin.org.

October 2008 In October of 2008, only two months after the space was enlisted, a paper titled, 'Bitcoin: A Peer-to-Peer Electronic Cash System', was distributed on a cryptography mailing list, apparently composed by Satoshi Nakamoto.

The paper laid out the establishment of how the Bitcoin would really work, and takes care of the issue of cash being duplicated, which permitted Bitcoin to develop genuinely.

November 2008 A month after the white paper was distributed, the Bitcoin venture is enlisted on a network joint effort site, SourceForge, which centers around the improvement and circulation of open source programming.

January 2009 In mid 2009, the principal square, which was nicknamed 'Beginning' is propelled, which permitted the primary adaptation of Bitcoin to be discharged.

There was further hypothesis that Bitcoins were created by more than one individual, as it had been accumulated with Microsoft Visual Studio for Windows, yet needed order line interface. It was anticipated as of now that a Bitcoin age framework would make a sum of 21 million Bitcoins during that time 2040.

Later on, right now, first exchange occurred among Satoshi and Hal Finney, a designer and cryptographic lobbyist.

October 2009 In October, New Liberty Standard distributes a Bitcoin swapping scale. The worth was built up and they distributed a pace of a Bitcoin at 1USD = 1,309.03 BTC. This was chosen utilizing a condition that incorporated the expense of the power to run the PC that produced Bitcoins.

Later on this month, the #bitcoin-dev channel is enrolled on freenode IRC, which was a conversation arrange intended for nothing and open source advancement networks.

December 2009 In late 2009, the second form of the Bitcoin was created and discharged; anyway later on in the month, they acquired their first trouble increment.

February 2010 In mid 2010, the Bitcoin money trade was conceived, and the Market was built up by the now ancient organization dollar. Later on in the month, and 18 months after the application was documented, the encryption patent was distributed and endorsed.

May 2010 This month would end up being an achievement for Bitcoins, because of the way that the primary genuine exchange occurred. A software engineer named Laszlo Hanyecz, who lived in Florida pays 10,000 Bitcoins on a pizza, that was initially purchased from Papa Johns by a volunteer in England. The conversion scale at the time put the price tag for the pizza at 25USD.

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Given the present swapping scale, today the pizza is esteemed at 1,961,034GBP.

July 2010 The third form of Bitcoin is created and discharged. Later on that month, there were an enormous number of new Bitcoin clients, on account of a notice of the new form on Slashdot.

During a multi day time of this current month, the trade estimation of Bitcoin expanded multiple times, from 0.0008USD/BTC to 0.080USD/BTC which the prompted Jed McCaleb building up a Bitcoin money trade showcase named MtGox.

August 2010 August 2010 end up being a sad month for the Bitcoin, and the framework was hacked. A defenselessness in the framework caused Bitcoins to be inappropriately checked, and accordingly abused, which brought about the age of 184 million Bitcoins. The made the worth drop radically.

September 2010 This was a bustling month for Bitcoins, as they attempted to recoup from the hacking the earlier month. An offer was made by jgarzik as 10,000BTC, which was proportionate to 650USD at that point, to open source their Windows-based CUDA customer. Later on that month, they took this offer and discharged the source, under the MIT permit.

October 2010 Bitcoins confronted a ton of investigation this month, when a between administrative gathering named The Financial Action Task Force gave a report on tax evasion, notice about the utilization of computerized monetary standards to fund fear based oppressor gatherings.

In spite of this report, the Bitcoin swapping scale, which had slowed down, started to climb once more. This came after the principal open adaptation of an OpenCL digger is discharged.
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Brief History Of Bitcoin

Brief History Of Bitcoin
Pre-history of advanced cash (1989-2007)

While Bitcoin is the leader of the cryptographic money crowd, it isn't the principal venture to present the idea of advanced cash. In spite of the fact that the first accomplished the state being referred to in a decentralized manner, taking care of the Byzantine general's concern that most antecedents of Bitcoin battled with.

Truth be told, there was something other than one endeavor to bring a computerized variant of money and even gold, at first to monetary organizations and corporate organizations, and later to the standard open, beginning as right on time as the late 80s.

From DigiCash and B-Money to e-gold and Bit Gold, there are various ideas that may be considered as 'advanced monetary standards' that were acquainted earlier with Bitcoin. While not every one of them made it to the advanced the truth, being for quite some time overlooked as simply one more understudy's proposition, Satoshi Nakamoto himself makes reference to a portion of the creators of the above ventures in his unique Bitcoin white paper, clarifying that Bitcoin was in reality dependent on cryptographic ideas as imagined by cypherpunk networks and PC researchers 'once upon a time'.

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The minority of such items that figured out how to 'make it' to the market in the end bombed because of the nonappearance of some essential qualities found in widespread worth trade mediums, for example, gold. That made Bitcoin for all intents and purposes what it is on account of the reality it was explicitly intended to match and convey gold's most significant characteristics including its shortage.

The introduction of the Bitcoin blockchain (2008-2009)

Precisely eleven years back, on October 31, 2008, an examination paper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System" was distributed among a cryptographer-situated mailing list by a netizen self-named as 'Satoshi Nakamoto', basically portraying a dream of a decentralized disseminated advanced cash framework, which depended on existing cypherpunk ideas that were already never joined in a solitary task.

Two or three months in and Nakamoto had distributed the primary form of the open-source Bitcoin programming on SourceForge in January 2009, starting interest and energy among cryptography specialists and specialists, however influencing essentially nobody else outside that small rundown.

The first Bitcoin exchange at any point was performed between Satoshi Nakamoto himself and Hal Finney, an early Bitcoin adopter who many estimate could be one of only a handful scarcely any individuals who know Nakamoto's actual personality (or characters).

More coders began to trade thoughts and tinker with the open-source code that was by the late spring of that year accessible on Github, and numerous Bitcoin-explicit discussions were made so as to engage genuine engineers to get composed with the undertaking.

It is said that before the finish of 2009, only 309 IPs were diverted to Wiki's Bitcoin page, while BTC, the local money of the Bitcoin organize didn't yet have a market cost.

Strangely, at that point, there was only one Bitcoin Wallet accessible and it required the full Bitcoin blockchain - proportionate to 6GB in those days - to be downloaded and adjusted all together for the wallet to be usable.

Vitalik Buterin, the now youthful prime supporter of Ethereum ETH, 0.02%, was all the while functioning as a writer in those days, and his audit of the wallet read:
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A reminder on why cryptocurrency was invented in the first place.

I've taken this from a post I've saved a while ago and I usually come back to it to remind myself on the significance of cryptocurrency and why it's here to stay. I would post the link but for some reason it wouldn't let me.

So, if you find yourself religiously checking some cryptocurrency’s price, or bogged down in discussions about the “one true bitcoin”, or constantly asking what currency to buy, please at least remember that we have bigger fish to fry.
We are here to fix the financial system.
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ABCCVision

Satoshi Nakamoto, the pseudonymous “creator” of Bitcoin, published his Bitcoin White Paper “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008 and subsequently mined the Genesis Block in 2009. Vitalik Buterin launched Ethereum, which can execute smart contracts, in 2015. Blockchain technology has been disrupting a wide range of industries at an exponential speed.
Decentralized and distributed, blockchain technology is offering us fundamentally different solutions to many problems. It helps build trust and consensus based on cryptography rather than relying on a trusted central party so that economic activities can take place and capital can flow across borders frictionlessly. As blockchain-based asset digitalization is becoming a new trend, more and more investors are adding digital assets to their investment portfolios. There is increasing consensus to democratize the digital economy so that everyone can participate and enjoy the benefits brought about by blockchain technology.
ABCC aims to build and nurture a blockchain-enabled digital asset platform. We endeavor to build bridges between digital asset users, developers and investors to facilitate effective information flow and value creation. We seek to help visionary digital asset investors achieve their investment objectives and assist promising blockchain project teams secure funding and gain market recognition by providing select digital assets, designing and operating innovative digital assets, and investing in and supporting blockchain projects with high growth potential. Ultimately, our goal is to promote a healthy and sustainable growth of the blockchain industry.
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So What Exactly Is a Bitcoin Anyhow? Total Breakdown of Bitcoin

There's digital money, and after that there's Bitcoin. The extremely geeky Bitcoin is a mathematically-derived currency that promises to change the method people utilize money. Bitcoins are not real coins-they're strings of code secured with military-grade encryption-and people that use them to deal items as well as solutions are tough to trace. In addition to confidential drug dealers, Ashton Kutcher as well as the Winklevoss doubles have actually reportedly jumped on the bandwagon. There's something to be said regarding utilizing currency that isn't regulated by the government or financial institutions, doesn't come with the normal deal costs and is impossible to imitation. Bitcoin likewise promises to be disaster-proof, since you can not damage numbers similarly that you can damage gold books or fiat money.
nuv mining
What is Bitcoin?
Bitcoin is an electronic money produced in 2009 by a designer hiding under the pseudonym of Satoshi Nakamoto (supposedly a Japanese individual that has best command of American English). Bitcoin is decentralized, meaning it is not controlled by a central authority like a banks, country, federal government or person. It is peer-to-peer as well as open-source, dispersed throughout the net from computer to computer, without demand for middlemen. Contrasted to U.S. bucks, Bitcoin is essentially untraceable, making it attractive to libertarians worried of federal government meddling and also citizens of the underworld. You can use it to spend for acquisitions online as well as off, from controlled substances on the Silk Road to legit restaurant meals.
nuvmining
Where to Obtain Bitcoins
You can get Bitcoins from buddies, on-line free gifts or by acquiring them with actual money from Bitcoin exchanges. Using actual cash to purchase Bitcoins defeats the whole function of anonymity, however, since you might require to add your bank account to a third party site. You can also purchase Bitcoins utilizing your cellphone or with money deposit establishments. New Bitcoins are developed by "mining." Mining is done automatically by computers or servers-it's not real-world mining where you need to dig underground to uncover commodities, but the idea is similar. You have to exert initiative to collect gold, and you (or your device) likewise have to spend time as well as sources to confirm as well as tape Bitcoin purchases.
One of the coolest features of Bitcoin is that it gets its value not from real-world items, but from codes. Bitcoins are pulled out of the ether by equipments (as well as individuals that run them) for fixing complex mathematical problems associated with the present variety of Bitcoins These bulky and pricey supercomputers featured powerful security capabilities (as well as apparently draw electrical power like no one's company). In a typical purchase, purchaser A from area X pays seller B some Bitcoins online. Miners after that race to validate and encrypt the transaction, logging Bitcoin codes in a central server. Whomever fixes the problem initially gets the Bitcoins Concerning 25 new Bitcoins are produced for every 10-minute block, but that number can enhance or lower depending on how much time the network runs.
Just How to Utilize Bitcoins.
As soon as you obtain your hands on some Bitcoins, you require to store them in an on-line budget via a computer system program or a third-party web site. You become part of the Bitcoin network as soon as you produce your virtual purse. To send Bitcoins to one more individual or pay for on-line purchases, obtain that person/seller's identification number and also transfer Bitcoins online. Processing takes concerning a few minutes to a hr, as Bitcoin miners across the globe verify the deal.
Just How to Earn Money on Bitcoins.
If you're still skeptical, one Bitcoin is currently worth about $90 (as of 18 April 2013), with hourly variations that can make a day trader dizzy. Unpredictable as it is, more and more people are starting to bleed the phenomenon for all it is worth-while it lasts. How to obtain your piece of the online gold rush? Some methods: Sell Bitcoin mining computers, market your Bitcoins at crazy rates on ebay.com as well as hypothesize on Bitcoin markets. You can additionally begin mining. Any person can mine Bitcoins, yet unless you can pay for a reliable arrangement, it will take an average COMPUTER a year or even more to address formulas. Lots of people sign up with swimming pools of various other miners that integrate their computer power for faster code-cracking.
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Brief History Of Bitcoin

Brief History Of Bitcoin
The cash in your pockets has three fundamental qualities – it's unmistakable, halfway controlled and simple to fake. Bitcoin is the careful inversion of it. Bitcoin is a cryptographic money that works autonomously without banking foundations and the administration intruding into its undertakings. There's nothing physical about it – it's everything virtual!

It's non-unmistakable, however renders gains seriously. It streams uninhibitedly, without anybody/anything controlling and following its impressions. What's more, regular financial impacts, be it either expansion or emptying, don't manage it, as its worth is completely controlled by showcase request.

All the more critically, Bitcoin exchanges are irreversible. Once started, there's no real way to withdraw. Bitcoin exchanges bear no expenses, and should be possible with outright obscurity. Step by step, it's turning out to be as standard as other financial qualities in the market. Be that as it may, with no administration backing, Bitcoin holds significance as long as online traders acknowledge it.

THE HISTORY OF BITCOIN

Bitcoin is the brainchild of Satoshi Nakamoto, who distributed a white paper on the development on October 31, 2008, specifically "Bitcoin: A Peer-to-Peer Electronic Cash System", depicting what Bitcoin is. It was on January 2009 when Version 0.1 of Bitcoin was discharged. What's more, soon, Satoshi and Hal Finney, a cryptographic extremist, executed in bitcoins.

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During October 2009, a conversion scale for the bitcoin was built up, which was US$1 = 1,309.03 BTC. This rate was chosen in the wake of confining up a condition with respect to what amount is the expense of the power to run a PC, producing bitcoins.
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Who invented blockchain?

Who invented blockchain?
Strange it may seem, but the concept of blockchain was invented long before Satoshi Nakamoto created Bitcoin as A Peer to Peer Electronic Cash System.
Let’s take a look at the events preceding Bitcoin’s blockchain appearance.
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  • The idea takes its roots from coding and deciphering. Early in the 1940s, a British mathematician Alan Turing, who was the first known cryptographer, deciphered the Enigma Machine. At the same time, the Americans decoded the Purple Code, a Japanese ciphering machine.

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  • In the 1970s, Martin Hellman and Whitfield Diffie invented a special algorithm which split the encrypted keys into a pair — a private and a public key.

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  • Then, in 1992, W. Scott Stornetta, Stuart Haber added Merkle Tree to the cryptography concept, boosting security, performance, and efficiency.

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  • However, this technology was not used, and the patent ended in 2004, four years before Bitcoin appeared.

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  • In 2004, a scientist and cryptographer Hal Finney introduced a system called RPoW, which was Reusable Proof Of Work. The system operated by getting a non-exchangeable Hashcash based PoW token and in return created an RSA-signed token that could then be transacted from person to person.
  • RPoW solved the double-spending problem by keeping the ownership of tokens registered on a trusted server. It also allowed users worldwide to verify its correctness and integrity in real-time.

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  • In 2009, Satoshi Nakamoto introduced his white paper Bitcoin: A Peer to Peer Electronic Cash System. The technology that underpinned the Bitcoin was called blockchain. It solved the problem of trust because each time a transaction was made, it was bundled together with other transactions and stored in a block. The block was then placed on the chain, which couldn’t be changed.
  • Based on the Hashcash PoW algorithm, but rather than using tools trusted computing function like the RPoW. The double-spending protection was provided by a decentralized peer-to-peer protocol for verifying and tracking the transactions. In simple words, Bitcoins are “mined” for a reward using the proof-of-work mechanism by miners and after verified by the decentralized nodes in the network.
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Satoshi Nakamoto Bitcoin: A Peer-to-Peer Electronic Cash System  Bitcoin Cash is Bitcoin Bitcoin: A Peer-to-Peer Electronic Cash System [Whitepaper Reading] Satoshi Nakamoto White Paper (Peer-to-Peer Electronic Cash System) Bitcoin or BTC and Satoshi Nakamoto 9000% Gain till this day 2020. Story behind of Cryptocurrency.

Eines vorweg: Niemand, außer Satoshi selbst, kann mit Gewissheit sagen, wer oder was sich hinter dem Pseudonym versteckt. Sicher ist: Im Oktober 2008 wurde mit dem White Paper „Bitcoin: A Peer-to-Peer Electronic Cash System“ erstmals die Funktionsweise des Bitcoin und der Blockchain erläutert. In 2016, Gartner [9] and more than 7 years after making its appearance in Satoshi Nakamoto's whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System" [10] was blockchains potential recognized ... Satoshi Nakamoto und Bitcoin: Wie alles begann. Springen wir 12 Jahre zurück in das Jahr 2008. Als Antwort auf die Finanzkrise publizierte Satoshi ein Paper, das den (mittlerweile legendären) Titel „Bitcoin: A Peer-to-Peer Electronic Cash System“ trägt. Einige Monate später und somit bereits im nachfolgenden Jahr 2009 ging die Bitcoin ... Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto October 31, 2008 . Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent ... On October 31 of 2008, a paper written by a person or group named ‘Satoshi Nakamoto’ released a white paper called “ Bitcoin: A Peer-to-Peer Electronic Cash System.”

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Satoshi Nakamoto

Satoshi Nakamoto White Paper propose a solution to the double spending problem that our current electronic payment system uses. Free download: https://goo.gl/FA2o7R. This video is unavailable. Watch Queue Queue. Watch Queue Queue Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto, 2008. https://bitcoin.org/bitcoin.pdf In November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the... On November 1st, 2008, a 9-page whitepaper found its way online. Titled "Bitcoin: A Peer-To-Peer Electronic Cash System," the whitepaper's author clearly art...

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