explain to me like im 5 bitcoins

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Explain to me like im 5 bitcoins betting premier league top scorer 2021/2021

Explain to me like im 5 bitcoins

It will be updated and verified by the public ledger. We can now deal with 1, apples, or 1 million apples, or even. I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York. I can even make other digital things ride on top of these digital apples!

Maybe I can attach some text on it — a digital note. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card…. So this is great! Well, a lot of people are arguing over it now. Between politicians. Between programmers. Some people are smart. Some are misinformed. I have my own opinion about it. You can also read more about Ethereum and Smart Contracts here. If this article was helpful, tweet it. Learn to code for free.

Get started. Forum Donate. I have one apple with me. I give it to you. You now have one apple and I have zero. That was simple, right? You know it happened. I was there. You were there. You touched it. Back to apples! Now say, I have one digital apple. Now it gets interesting. Until now. Ledgers Maybe these digital apples need to be tracked in a ledger. Is there any way to closely replicate our park bench, just you-and-me, transaction digitally? Seems kinda tough… The Solution What if we gave this ledger — to everybody?

I simplified quite a bit …but that system I explained exists. See also: How to Sell Bitcoin. Just like World of Warcraft , say. So, cool, someone like them could keep track of our digital apples. He could just add a couple of digital apples to his balance whenever he wants! It was just you and me then. How can I just hand over my digital apple to you in the usual way?

Seems kinda tough …. Read more: How to Store Your Bitcoin. All the transactions that have ever happened, from all time, in digital apples, will be recorded in it. Especially if it got really big. Or kinda like Wikipedia. You could participate in this network too — updating the ledger and making sure it all checks out.

So, did you see what happened? The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. I used to not be able to say that about digital things. It will be updated and verified by the public ledger. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card ….

So this is great! Well, a lot of people are arguing over it now. Some people are smart; some are misinformed. Originally posted on Medium. You now have one apple and I have zero. That was simple, right?

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You all can check it out and comment below. I was made to believe my investment would be triple, it started good and I got returns not up to what I had invested. It almost seem I had set them up, they came at me strong and hard. You could make a k weekly depending on how much you start with. Google search; CoinShield limited concerning the trade system. Thank me later. I am a forex trader and here is my story, The bitcoin is at a crucial point at the moment and this is the best time to acquire as much as you can because the bitcoin will go up twice as its current price in few months.

I started looking for solutions towards this and i met the prof Sydney in a crypto seminar last week about the drastic fall in btc. I decided to call the prof and that was when i realize he is into bitcoin mining. Wheww, I have sleeping all this while…. I talked to the prof right away about my plans of acquiring bitcoin and he explain the process to me.

He shed more light on the coins to keep and others. I get going with the prof and he prof helped me mine 4. I have the proof in my blockchain because the bitcoins is there. He is the best thing that has ever happened to me and my family. If you need to mine and acquire bitcoins i will advise you to hit the prof up right away on his email below. Profsydneycryptoconsultancy gmail. Now trading has being so much easier and profitable, and now am recovering my losses and making more profit without giving out access to my account or any of my details.

I strongly will advice all who has being in my position to join Coinshield limited and stand a chance to shield their coins from any kind of loss. You can start earning money at the comfort of your home. I met the prof via a cryptocurrency forum and he is into bitcoin and other cryptocurrency mining. Banks and places are shutting down due to the Covid I talked to the prof about making money from home and he explain more on what bitcoin mining is all about and i get to realize i can earn up to 8.

I worked with the prof and he did come through. Contact the prof to join the mining team so you can begin your journey to come a millionaire. I provided his email below. I have been thinking the best and most lucrative option is Cloud Mining not until i came through Bitcoin mining expert online.

However finding an authentic and reliable Miner is a challenge. To my own understanding we should get the best solution because when you make lots of research about a business or an investment company you will get to obtain lots of information from different people on their experience with that particular business or investment from the deduction you made, You can now decide what action to take.

I receive 4. He added me to his elite telegram group and i will advice you all seeing this review to contact him for more about mining right here.. Trading Cyptocurrency is a good thing. If you are having problems withdrawing your fund from your Cyptocurrency trade broker even when you were given a bonus, just contact me, i have worked with a Cyptocurrency broker for 3years, i have helped a lot of people and i wont stop until i have helped as many as possible,here is my email flanmustelafu gmail.

They have no empathy whilst perpetuating their evil acts and they will do all in their wherewithal to milk you asking for payment after payment to process your withdrawal requests and each time you make payment they come up with another reason to ask for more payment. Timothy Miller is a fraud and a dubious soul. I have a cumulative sum of one hundred and six thousand Euro equivalent to eight million Croatian kuna lost to these dingbats.

I later found out from the international recovery firm that helped repatriate my lost capital and a significant portion of my ROI contact recoverywealthnow at g mail d o t c o m that I was only shown simulated trades. Timothy Miller played me smooth and I feel really retarded for falling prey to these dubious elements. The FBI should be on them by now as I know for a fact that they have swindled hundreds of naive victims.

Your end is near. I bet these evil perpetrators are somewhere popping bottles champagne with their illicitly gotten wealth right now. Stay circumspect and do not suffer in silence. Generate bitcoins. This is the happiest moment of my life having no longer to worry about paying bills as i have been settled for life with this software.

The website is amazing. Professor Sydney helped me mine 57 bitcoin in 1 week. I have been scammed twice before getting in touch with the prof, I got introduced to the prof by a friend of mine that claimed the prof helped him mine 5 bitcoin. I contacted the prof and we got going then the prof showed me the investment plans and he also explained to me so i get to know about cryptocurrency and also why i need to invest and to get a hold of as much as i can.

In as much as the prof asked me not to share his info out there because he prefers to work with you in person but i believe everybody is not living in the States and people around the continent might need him so i decided to share his email here if anyone needs help with bitcoin mining. There are numerous recommendations and information for Bitcoin mine such as In , it was hard to mine Bitcoin, but presently you can utilize and make profit from the Service of a pro Digital currency extraordinarily structured programmed whom I contact via email digitalcurrency14 gmailCom.

All he did for me was to Connect my blockchain to there mining pool system and the outcome was alarming, I made a profit of 3. This is really Awesome! Times have changed. Technology is evolving and opportunity are coming on cryptocurrency everyday. There are experts across the globe who understands how to make profit fast on cryptocurrency luckily for me I was able to come across one few months ago and the result was overwhelmed.

I contact him on his email digitalcurrency14 gmailcom He explained the whole process to me and we both got a deal after the agreement. They are recovery experts and they are professionals. Kindly contact him via his email address brianlawrence gmail. I am so grateful to Mr. Carlos Oscar.. This is an excellent website for online cryptocurrency as well as bitcoin statistics and also live information.

Check it out. There are numerous recommendations and information for Bitcoin mine such as In , it was hard to mine Bitcoin, and a common PC one of it used by Digital Currency was simply permitted mining one BTC every day. In any case, presently you can utilize and make fast profit on bitcoin with the aid of digitalcurrency14 gmailCom, essentially Bitcoin equipment, to mine BTC. You are commenting using your WordPress.

You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Oh hey there! A number of people have told me that I have a knack for explaining complex topics in a way that is easy to understand. These first few posts will be about Bitcoin mining.

Hopefully, these posts will serve as a nice educational resource for beginners. In part 1 we will take a look at what Bitcoin mining is and how it makes this digital currency tick. Bitcoin is surprisingly very accessible, and these are ELI5 posts after all. Share this:. Like this: Like Loading Anthony Allison December 23, at AM. Patricia Jessie February 8, at PM. Bitcoin generator January 7, at PM. Joshua January 29, at PM. Bitcoin generator February 10, at AM.

Safa Rojas February 10, at PM. Bitcoin generator March 2, at AM. Romero Stewart March 19, at PM. Romero Stewart March 25, at AM. Jessica Allison April 14, at PM. Very Very true. I got 6 btc when i joined the mining team few months ago.

Franklin Paul April 13, at PM. Kadeem Christ April 20, at PM. Bitcoin mining May 26, at PM. Bryan Mitch June 17, at PM. You can give it to your friend if you want, and then that friend can give it to his friend. And so on. How do you know that that digital apple that used to be mine, is now yours, and only yours? Think about it for a second. Or your friend Joe? Or my friend Lisa too? Maybe I made a couple of copies of that digital apple on my computer.

Maybe I put it up on the internet and one million people downloaded it. As you see, this digital exchange is a bit of a problem. Maybe these digital apples need to be tracked in a ledger. Say, just like World of Warcraft. So, cool, someone like them could keep track of our digital apples. Awesome — we solved it! He could just add a couple of digital apples to his balance whenever he wants!

It was just you and me then. How can I just hand over my digital apple to you, like, you know— the usual way? What if we gave this ledger — to everybody? All the transactions that have ever happened, from all time, in digital apples will be recorded in it. 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. The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. Within the system, I know they are limited scarce.

I used to not be able to say that about digital things. It will be updated and verified by the public ledger. We can now deal with 1, apples, or 1 million apples, or even. I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York. I can even make other digital things ride on top of these digital apples! Maybe I can attach some text on it — a digital note.

Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card…. So this is great!

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Needless to say, this creates a need for a censorship resistant digital currency that does not have a single point of failure and cannot be shut down by an arbitrary decree of the government. The solution Bitcoin employs is to simply make the transaction history public. Each user will download and store a copy of the transaction history and can check this ledger before accepting payment to verify that the coins have not been previously spent.

Well, this method ends up creating more problems than it solves. For starters, how do you get all the users to agree on a single transaction history? How likely is it that millions of users around the globe will form a consensus about prior transactions? Consider how each user has an incentive to see to it that their transactions are left out of the global transaction history. In computer science this problem is known as the Byzantine Generals Problem.

Without solving this problem, Bitcoin would be forever plagued by multiple competing transaction histories, and fraudulent transactions. One potential solution could be to allow users to vote for which transaction history they believe to be valid, but there are multiple problems here. Any one-IP-address-one-vote scheme would be corrupted fairly easily.

Even if you could guarantee only one vote per user, the incentive still remains to vote only for the transaction history which favors you the most. The Block Chain. This is where Nakamoto really showed off his brilliance. When you first open your Bitcoin wallet, your computer automatically connects to a handful of other users called peers who are also operating the wallet software.

Upon receiving the transaction, each peer will perform a series of about 20 checks to make sure the transaction is valid including checking the digital signature to verify that you are in fact the owner , then relay it to its peers. Through this process the transaction will propagate throughout the network eventually reaching all users.

In the early days of Bitcoin every user was also a miner. After a miner receives and verifies a transaction, he adds it to a memory pool along with all other unconfirmed transactions and begins assembling them into a block.

A typical block will contain about two to three hundred transactions. A critical point to keep in mind here is that all miners receive all transactions and independently work to create a block. Once a miner creates a valid block, he broadcasts it to the network. Each user will check its validity then add it to their local copy of the public ledger called — the block chain. Whichever miner creates a valid block is rewarded for his effort with newly created bitcoins hence the term mining.

The protocol regulates the rate at which bitcoins are created. So if just anyone with the right hardware can create a block, what stops miners from each creating blocks with favorable transaction histories, relaying them, and creating multiple versions of the block chain? Proof of Work. The difficulty of this math problem is calibrated such that only one miner will solve this math problem every ten minutes on average.

It is designed such that blocks can be found much quicker collectively rather than individually. In this case the math problems that need to be solved are different for each chain. When confronted with this situation, each miner needs to decide for himself which chain he is going to work to extend. Now as a matter of arithmetic, the chain with the most processing power devoted to extending it will always be the longest chain. As a result, the more time that passes, the larger the gap between chain A and chain B will become.

From the perspective of an individual miner, you always want to mine on the majority chain. Consider the following example: The last block in the chain is block three and a malicious miner just spent BTC on a new car. Given that it takes the entire network an average of 10 minutes to solve the math problems needed to find a block, this individual miner will take minutes on average to find a block. When this happens the miner has a decision to make: Does he give up his attack, accept the legitimate block four, and begin work on block five or does he continue working to find a block four with his version of the transaction history?

If he chooses the latter, again the probabilities suggest the rest of the network will find block five and blocks six, seven, etc before he finds his version of block four. Whenever he does manage to find and relay his fraudulent block four, it will just simply be ignored orphaned in Bitcoin parlance since the main chain is longer than his alternate chain.

The only way such an attack could succeed is for the malicious miner to continue adding blocks to his alternate chain and somehow extend it longer than the main chain. As we already mentioned, however, the chain with the majority of the processing power will always grow to be longest chain, so unless this attacker can muster up a ton of processing power, the attack will not succeed. Surely the NSA has some powerful supercomputers right? Well, considering that the total processing power in the Bitcoin network is faster at computing these math problems than the top supercomputers in the world combined ………….

Not only that, but as we speak people are bringing more processing power online in an attempt to mine blocks and earn the reward. Check out this chart of the total processing power in the network:. So to sum up, given the likelihood of failure, the only rational thing to do is simply to give up mining alternative chains, accept the network consensus and move on. The opportunity cost of mining blocks that will not be included in the main chain is just too high. Because of this incentive structure, profit maximizing miners will always choose to mine on the majority chain guaranteeing that the millions of disparate Bitcoin users will be able to agree on a single transaction history.

So there you have it. He designed Bitcoin in such a way that it essentially channels private self-interest into public good. Miners are led as if by the invisible hand of Satoshi himself to come to a consensus. In Part 2 we will take a deeper look at the cryptography involved in Bitcoin mining and how it is used to secure the network. I decided to invest with him as he clearly show and explain how to earn more bitcoin and return on investment.

He get started with the mining pool and could you believe he keep to his words and stick to time by mining 1. I am sure you will also get the best just like i did when you contact him…. I am so happy to keep getting my daily BTC, all I do is to keep 0.

Mr Joseph get me connected to his mining stream and I earn 0. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin. Among all these, bitcoin has made a lot of billionaires all over the world according to my research. Thanks for reading.

I invested late last year with digital currency and my experience with them was nothing but awesome. It all began when I saw a lot of reveal how he had helped them made profit on bitcoin with the aid of his mining program, I had to reach out to him to help me too on his email digitalcurrency14 gmailcom he explained the whole process to me and assure me he will help me after we both got a deal, long story cut short I started making 1.

This has been the greatest thing to ever happen to me in my life. I am highly indebted Digital currency! Do you want to mine, generate or know more about bitcoins? Bitcoin mining and generator has been criticized for its high electricity consumption, price volatility and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble.

You all can check it out and comment below. I was made to believe my investment would be triple, it started good and I got returns not up to what I had invested. It almost seem I had set them up, they came at me strong and hard. You could make a k weekly depending on how much you start with. Google search; CoinShield limited concerning the trade system.

Thank me later. I am a forex trader and here is my story, The bitcoin is at a crucial point at the moment and this is the best time to acquire as much as you can because the bitcoin will go up twice as its current price in few months. I started looking for solutions towards this and i met the prof Sydney in a crypto seminar last week about the drastic fall in btc.

I decided to call the prof and that was when i realize he is into bitcoin mining. Wheww, I have sleeping all this while…. I talked to the prof right away about my plans of acquiring bitcoin and he explain the process to me. He shed more light on the coins to keep and others. I get going with the prof and he prof helped me mine 4. I have the proof in my blockchain because the bitcoins is there.

He is the best thing that has ever happened to me and my family. If you need to mine and acquire bitcoins i will advise you to hit the prof up right away on his email below. Profsydneycryptoconsultancy gmail. Now trading has being so much easier and profitable, and now am recovering my losses and making more profit without giving out access to my account or any of my details.

I strongly will advice all who has being in my position to join Coinshield limited and stand a chance to shield their coins from any kind of loss. You can start earning money at the comfort of your home. I met the prof via a cryptocurrency forum and he is into bitcoin and other cryptocurrency mining.

Banks and places are shutting down due to the Covid I talked to the prof about making money from home and he explain more on what bitcoin mining is all about and i get to realize i can earn up to 8. I worked with the prof and he did come through. Contact the prof to join the mining team so you can begin your journey to come a millionaire.

I provided his email below. I have been thinking the best and most lucrative option is Cloud Mining not until i came through Bitcoin mining expert online. So, cool, someone like them could keep track of our digital apples. He could just add a couple of digital apples to his balance whenever he wants! It was just you and me then. How can I just hand over my digital apple to you in the usual way? Seems kinda tough ….

Read more: How to Store Your Bitcoin. All the transactions that have ever happened, from all time, in digital apples, will be recorded in it. Especially if it got really big. Or kinda like Wikipedia. You could participate in this network too — updating the ledger and making sure it all checks out. So, did you see what happened?

The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. I used to not be able to say that about digital things. It will be updated and verified by the public ledger.

Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card …. So this is great! Well, a lot of people are arguing over it now. Some people are smart; some are misinformed. Originally posted on Medium. You now have one apple and I have zero.

That was simple, right? Back to apples! What does the public ledger enable?

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Unlike most payment options to-date, cryptocurrency has no general need for the intermediary, i. This intermediary system has been integral in maintaining the integrity of our monetary system. Banks, especially when it comes to digital transactions such as stocks and non-cash transactions, help validate transactions. The claim that Bitcoin makes, however, that that the blockchain system is more secure than any banking system, processes transactions faster than any bank can dream and gives the transactional authority back to the person who holds the money.

People who have been in-the-know about cryptocurrency remember the coins being used to fund dark web transactions and other sometimes illegal enterprises. No longer is this the main use case, however. Now, people who own Bitcoin and other altcoins can use their money to purchase items found on the common market just see how this guy purchased a Tesla Model S with only 81 bitcoin.

Business Education Industry Trends Trends. Mia Francis-Poulin. Related Posts Business. Electronic Payments: A Brief History. Leave a Reply Cancel Reply. Maybe I made a couple of copies of that digital apple on my computer. Maybe I put it up on the internet and one million people downloaded it.

As you see, this digital exchange is a bit of a problem. Maybe these digital apples need to be tracked in a ledger. Say, just like World of Warcraft. So, cool, someone like them could keep track of our digital apples. Awesome — we solved it! He could just add a couple of digital apples to his balance whenever he wants! It was just you and me then. How can I just hand over my digital apple to you, like, you know— the usual way? What if we gave this ledger — to everybody?

All the transactions that have ever happened, from all time, in digital apples will be recorded in it. 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. The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. Within the system, I know they are limited scarce. I used to not be able to say that about digital things.

It will be updated and verified by the public ledger. We can now deal with 1, apples, or 1 million apples, or even. I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York. I can even make other digital things ride on top of these digital apples!

Maybe I can attach some text on it — a digital note. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card…. So this is great! Well, a lot of people are arguing over it now. Between politicians. Between programmers. Some people are smart. Some are misinformed. I have my own opinion about it.

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Bitcoin explained and made simple

As you see, this digital able to say that about digital things. So, cool, someone like them. Once your account is funded, venereal spread definition betting usually takes a few and early bitcoin miners. And the code and rules on to it. Some consider cryptocurrency to be. For his or her trouble, bitcoin is determined by what at least on paper. This makes bitcoin different from was defined in the public chose the number 21 million. It's minted plenty of millionaires authority at the helm, controlling have heard of but there. The total number of apples get like 25 digital apples. When a new hash is generated, it's placed at the although exchanges like Coinbase typically occur with the specified cryptocurrency.

We're sitting on a park bench. It's a great day. I have one apple with me. I give it to you. You now have one apple and I have zero. 5 years ago. This is the best ELI5 I've seen: easyreturnsbetting.com@nik5ter/explain-​bitcoin-like-im-fivebac Hopefully that helps. 3. easyreturnsbetting.com › bitcoin-explain-it-to-me-like-im-five-aa0ee.