Posted on 03/30/2021 12:20:14 PM PDT by aMorePerfectUnion
If you still can’t figure out what the heck a bitcoin is…
I have one apple with me. I give it to you.
You now have one apple and I have zero.
That was simple, right?
My apple was physically put into your hand.
You know it happened. I was there. You were there. You touched it.
We didn’t need a third person there to help us make the transfer. We didn’t need to pull in Uncle Tommy (who’s a famous judge) to sit with us on the bench and confirm that the apple went from me to you.
The apple’s yours! I can’t give you another apple because I don’t have any left. ...You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend.
What if we gave this ledger — to everybody? Instead of the ledger living on a Blizzard computer, it’ll live in everybody’s computers. All the transactions that have ever happened, from all time, in digital apples will be recorded in it.
You can’t cheat it. I can’t send you digital apples I don’t have, because then it wouldn’t sync up with everybody in the system. It’d be a tough system to beat. Especially if it got really big.
The rules of the system were already defined at the beginning. And the code and rules are open-source. ...
You could participate in this network too and update the ledger and make sure it all checks out. For the trouble, you could get like 25 digital apples as a reward. In fact, that’s the only way to create more digital apples in the system.
(Excerpt) Read more at freecodecamp.org ...
[excerpt - the article is a bit longer with more explanation]
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If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum
blockchain mining etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Ping!
First, please explain “Q.”
Bitcoin is bad. Bad men use it to hurt America.
(Wrong thread... see Q thread on FR.)
Tell that to the short sellers on wall street. You want to know why they are resistant to blockchain technology in the stock market? Because of that.
It’s made me some $$$
bookmark
Last night my crypto portfolio broke it’s all time high.
“ First, please explain “Q.”
Sure thing. Q is a fraud that’s developed into a cult.
One will be along shortly to attempt some pathetic level of mockery in response. Shouldn’t take long.
L
who says bitcoin has value?....isn’t this like the fed...printing paper money and saying “its valuable”....
I did read it, and it explained no more than I already knew, and I am still confused.
Me, too. Enough that I pulled out my original investment and now am just playing with the casino’s money.
What you need to know:
There is an absolute upper limit on the number of bitcoins.
They cannot be counterfeited.
They can be used anonymously.
Bitcoin is a magical electronic form of money, then I would shut the Power off.
Nice. I have pulled a little out, but I have enough saved elsewhere I might ride the remaining out to see what happens.
Guess you can continue in confusion or ask a question to try to clarify the areas you are confused by...
Your call.
Same here. It’s still Greek to me!
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