/bant/ - International/Random » Thread #15184674

[14 / 4 / 13]

290KiB, 373x372, 547456363.png

View Same Google ImgOps iqdb SauceNAO

Anonymous ID:WkcEORAM Wed 11 May 2022 18:43:56 No.15184674 View View Reply Original Report

Quoted By: >>15185101 >>15185135 >>15185161 >>15185816 >>15186504 >>15186540 >>15186608 >>15187325

Explain to me what's bitcoin, how it works and why should i care

Anonymous

Anonymous ID:7WUtZ5lR Wed 11 May 2022 19:00:37 No.15185097 Report

Quoted By:

Bitcoin is basically like a video game currency that you can buy with real money. Then you can use the bitcoin (virtual currency) to buy things like 4chan pass or child porn from the dark web

Anonymous

Anonymous ID:cEG6s+Ml Wed 11 May 2022 19:01:40 No.15185101 Report

Quoted By:

>>15184674
fools gold
you shouldn't care

Anonymous

Anonymous ID:AwfTVo/z Wed 11 May 2022 19:11:34 No.15185135 Report

Quoted By: >>15185937

>>15184674
>what's bitcoin
digital asset
people call it "cryptocurrency" and yea you can use it to buy some things but 99% of people don't do that. most people get bitcoin and hope its value goes up to sell it.

>how it works
i mean that can get really complicated but basically its value is just whatever people are willing to pay for it
i can explain blockchains if you want but idk if you care

>and why should i care
you should care if you care about investing, it's just a high risk investment
but if you dont care about investing there's no reason to care

Anonymous

Anonymous ID:C/nuOeS+ Wed 11 May 2022 19:17:30 No.15185161 Report

Quoted By:

>>15184674
Bitcoin is internet gold. It's a hedge against inflation in the longterm as there is a fixed supply. Countries have adopted it and the community believes in the ecosystem.
Essentially your task is to out pace inflation. If you don't do any type of investing, you're losing purchasing power year over year and you don't want that.

Anonymous

Anonymous ID:1YNEJSpX Wed 11 May 2022 20:46:33 No.15185816 Report

Quoted By:

>>15184674
BWC

Anonymous

Anonymous ID:ti4v7TNp Wed 11 May 2022 21:01:52 No.15185937 Report

Quoted By:

>>15185135
basically this

Anonymous

View Same Google ImgOps iqdb SauceNAO 12.jpg, 21KiB, 800x800

Anonymous ID:nzdzaCdy Wed 11 May 2022 22:28:10 No.15186504 Report

Quoted By:

>>15184674
MADE for BBC

Anonymous

View Same Google ImgOps iqdb SauceNAO unknown (30).png, 192KiB, 540x736

Anonymous ID:wcNhmZ69 Wed 11 May 2022 22:35:55 No.15186534 Report

Quoted By:

basically

Anonymous

Anonymous ID:1ZOeJxx6 Wed 11 May 2022 22:37:34 No.15186540 Report

Quoted By:

>>15184674
it doesn't and you shouldn't

Anonymous

Anonymous ID:RCKP6VrO Wed 11 May 2022 22:54:48 No.15186608 Report

Quoted By:

>>15184674
https://www.youtube.com/watch?v=bBC-nXj3Ng4

Anonymous

Anonymous ID:k59EkJXW Wed 11 May 2022 22:58:31 No.15186619 Report

Quoted By:

A "bitcoin" is a number associated with a wallet on a block chain. People talk about "mining" bitcoins but that is really a misnomer. They are authenticating the block chain and a majority of the miners have agreed that making another node on a block chain gives you a bitcoin. They could have made it so they got 50 (or a million) bitcoins instead. Adding a node to the chain is computationally hard but the reward is arbitrary. The reason why people only get 1 bitcoin is because miners have decided that 1 bitcoin will be the reward for adding a node onto the block chain. To send your bitcoin to somebody you broadcast a message to a bunch of miners who are supposed to include your transaction on the next node they add. This usually works all right but nowadays it takes around 13 hours (I think).

Anonymous

Anonymous ID:k59EkJXW Wed 11 May 2022 22:58:43 No.15186620 Report

Quoted By:

You can also bribe a miner to include your transaction quicker than somebodies else's. This is called a miners fee. The bitcoin block chain is basically a public ledger. Each wallet is associated with a certain number of bitcoins and anybody can say "x sent n bitcoins to y". Even if that person is not X or Y. To keep people from stealing other peoples bitcoins (by saying something like Bob sent 1000000 bitcoins to my wallet), they make it hard to add nodes to the blockchain be requiring miners to add in a proof of work. Miners are to listen to messages from wallet owners and then add nodes that faithfully report who sent what where. If a miner lies and adds in a fake message on his node in the block chain, then a truthful miner will add a contradictory node to the block chain. This is a fork in the block chain, Truthful miners will add to the node that tells the truth rather than the false node. So one side of the fork will grow quicker than the other side. The longest fork is the one the miners take to be true. It is a lot easier to tell the truth than it is to get half of the miners to all add onto the illegitimate node so the block chain accurately reflects who sent what where.

Anonymous

View Same Google ImgOps iqdb SauceNAO Sharty dog.png, 2MiB, 1120x617

Anonymous ID:npEpD+da Thu 12 May 2022 01:00:24 No.15187325 Report

Quoted By:

>>15184674
Bitcoin Is Fake Fake Money.

Where In Paper Currency Is Real Fake Money.

Capcode	All Only User Posts Only Verified Posts Only Moderator Posts Only Manager Posts Only Admin Posts Only Developer Posts Only Founder Posts
Show Posts	All Only With Images Only Without Images Only Spoiler Images Only Non-Spoiler Images
Deleted Posts	All Only Deleted Posts Only Non-Deleted Posts
Ghost Posts	All Only Ghost Posts Only Non-Ghost Posts
Post Type	All Only Sticky Threads Only Opening Posts Only Reply Posts
Results	All Grouped By Threads
Order	Latest Posts First Oldest Posts First

On these archives

Your latest searches