[dwighteastonParticipant December 12, 2023 at 7:11 PM Post count: 0]

#114310 |

<br> Bitcoin mining is the process where miners contribute the processing power of their hardware rigs to solve cryptographic puzzles from each transaction on the Bitcoin blockchain. ‘difficulty’ of the competition increases as more miners get involved; this is done to avoid issuing new bitcoins too quickly. But the more intriguing part came next: After filing with the IRS, he tried to find out from various IRS employees if he was supposed to claim his castles and gold and other online assets that he hadn’t converted to real-world dollars — items that had never left the virtual world of “Ultima Online.” Some of the IRS representatives found the question amusing; others gave it serious thought and could not offer Dibbell a definite response. But, the truth is – I’m going to dodge that question – because we’ve probably got hundreds of thousands people watching this that own Bitcoin – and we’ve probably got two people that are short. And so the question is how do you coordinate a significant number of people who don’t know each other and don’t trust each other being able to communicate securely and be able to basically establish digital trust? It was created by the anonymous person (or group of people) Satoshi Nakamoto, who had a specific grudge, and created it at a specific moment in time: in the wake of the great financial crisis.
“They are going to move away from proof of work for a number of reasons, one of which is the environmental impact, because most of these are being created by young programmers. The platform is described as the quickest and the best way to earn proof of stake cryptocurrencies. DUBNER: So what are the advantages of a currency and/or transaction platform that is not affiliated in any way with a government? Currently, the platform is only available in 44 of the 50 U.S. In May 2014 the U.S. Now, you may be thinking, “Wait a minute! Now, banks and other financial institutions already have ledgers of their own, which let them transfer funds internally or with other trusted parties. But now, it seems, Bitcoin’s blockchain technology could do this without the middleman, which means faster and cheaper. DIEHN: I know of a few startups that are exploring this, again serving that kind of middleman, risk mitigation function. And so that will be part of the kind of economics that will determine, you know, who chooses to hold Bitcoin versus who chooses to convert it back to regular currency.<br>>
And https://www.youtube.com/@Coin_universe you might spend the Bitcoin by buying something from one of your suppliers, or you might spend the Bitcoin by, you know, having a refund program, a rebate program, a loyalty program back to your customers, or whatever it is. Let’s say you download this radio program, and then you send a copy to a friend. Oh well, I tweeted my findings, and mentioned to the folks on the WAHCKon IRC channel that I was talking to throughout the day, then went on my way. And that public ledger is maintained by a set of computers all talking to each other using a protocol. Each transaction links to the next in the chain using a cryptographic hash. I’ve been using the Internet for years to pay people online, to carry out all kinds of transactions. And so if you have a payment system like Bitcoin where you don’t have the credential exchange, and you have no risk of identity fraud and you have no risk of people being able to run transactions on your credit card after the fact, you can basically eliminate that entire category of fraud. When submitting payment information, you’ll have to verify your <br>t<br>.
How many cards did you have to throw away before you had the complete program? And so, the ability to very easily pay somebody online, the ability to very easily charge for a piece of content, the ability to very easily exchange a digital title, or a digital key, or a digital contract has just been missing because you have no mechanism for establishing trust. The fee that you’ll have to pay to a certain exchange for withdrawing your earnings from your account. Those industries have made fortunes by taking a cut of every transaction, which a virtual, and virtually frictionless currency like Bitcoin, could perform for much, much less. You know, one of the huge problems of the Internet over 20 years is who do you trust, which websites do you trust, which people do you trust when you do a transaction, who do you trust? What then happens is the network basically validates the transaction, and after the transaction is validated, everybody else on the network is able to inspect that transaction and they’re able to confirm that I originally owned that piece of property and now you originally own that piece o<br>operty.