BitCoin Help
2022-06-18
Ruh-roh... massive sell off
of Bitcoin at around 7 am this morning caused prices to drop
into the $18k range.
This is going to margin call all sorts of Bitcoin holders,
including Micro strategies.
How low can it go?
Well technically, since it's backed by nothing,
it can go to zero. There's no floor.
Once again, #Bitcoin is not and never was "digital gold." It was never a store of value. This is slowly becoming obvious to everyone...
Once again, #Bitcoin is not and never was "digital gold." It was never a store of value. This is slowly becoming obvious to everyone...
Bitcoins are not stored centrally or locally
and so no one entity is their custodian.
They exist as records on a distributed ledger
called the block chain,
copies of which are shared by a volunteer network of connected computers.
Owning a bitcoin means having the ability to transfer control of it
to someone else by creating a record of the transfer in the block chain.
Elliptic Curves
An elliptic curve
is represented algebraically as an equation of the form:
y2 = x3 + ax + b
Bitcoin uses : For a = 0 and b = 7
y2 = x3 + ax + b
Bitcoin uses : For a = 0 and b = 7
ECDSA
- Come up with a 64-digit hexadecimal number, called a "hash"
- Bitcoin miners ensure that bitcoin is not being duplicated. double-spending
Man in the Middle
https://englishtap.com/help/me/money/bitcoin
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