Bitcoin is the last in early 2009, "Satoshi Nakamoto (Shatoshi Nakamoto) 'programmer to write the pseudonym of a Japanese name (personal awareness that the organization not know) was developed. If the people with the decryption capability can issue a cost-bit coin. Just six months later complex decryption can be acquired by Bitcoin's about to be solved by mobilizing a powerful computer, a lot of people in the pool, the more easily is to continue to climb up to solve difficult password for the acquisition balhaengryang stretches password difficult. Those who want to leave is when you use the Bitcoin transactions through electronic wallet "key cryptography. There is no need to pinch in the middle of the bank.
The block chain is a compressed file that entered the transactions of all Bitcoin address.
Block chain has all the transactions in the Bitcoin generated from the first moment you entered so far.
The "block chain" is basically a database containing the variant history, all the details are being confirmed by all nodes participating in the network based on the Bitcoin protocol is saved again. Therefore, you have finished the synchronization to the most recent block chain, you are all variants retain the historical information available today. With this block chain, the transfer has been delivered in each one wallet, you can see that there is no block has all the information.
Bitcoin has one problem. Is that it puts an upper limit on the quantity. This money is likely to be a speculative destination. The price of Bitcoin is due to go up because supply is reduced over time.
This structure means that it is detrimental to the intermediate means of exchange in the Bitcoin real reality. If costs increase the artificial feeding to solve such a problem, it is a political issue. Who are the stories that people can decide freely the property value. It is impossible without the power of the state.
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