Rockefeller getting into crypto http://fortune.com/2018/04/06/crypto-vc-venrock-coinfund/ Soros getting into crypto http://fortune.com/2018/04/06/george-soros-cryptocurrency-hedge-fund-bitcoin/ There isn't a lot of institutional money in crypto yet.
Havent been around during this bearish market run. Not much to talk about on the tech side lately either. Just been buying more at these discounted prices =p
Some cool blockchain usage coming up ... https://tokenthusiast.com/2018/04/1...-up-to-build-real-metaverse-using-blockchain/
Cryptocurrency investor Michael Mellon just died in Mexico, for what it's worth. He turned $2 million into over a $1 billion fortune and OD'd on painkillers. What the frig. I've read about Bitcoin so many times, and for the life of me, I still can't understand how it works. I'm stupid, I know.
I'm sure, but magnets, how do they work? But locked by who? I just don't get it. Being serious now. You buy it online and then print it out and delete your trail? Put it in a safe on paper then can cash it in somehow and buy things with fake money? You're not trading commodities or stocks, but digital money that you can buy stuff with, like a car? I honestly don't understand it. I read about, what's his face, I can't remember his name now, who ran the Silk Road and is in prison for life and had a bunch of Bitcoin through the Dark Web. An FBI agent, Intelligence Agent, something like that who was investigating him on the Dark Web stole his Bitcoin and is also in jail for money laundering and was also involved in a murder for hire? I'm sure I have some of that skewed. I'm not being facetious, I just don't understand it. Private keys, make all of this simple for me, because I really am a simpleton on it; which basically means you can sell me fake real estate in Costa Rica if you tried hard enough.
Bitcoin uses cryptography. A private key is sort of like a password (much more secure) that that allows you to "unlock" your encrypted wallet and spend your bitcoin. There is a public ledger that keeps track of every bitcoin address and transaction. No one can spend bitcoin associated with a wallet without the private key. To spend bitcoin you send whatever amount to another wallet address. That transaction gets recorded on the public ledger and the entire bitcoin network has a copy of it. You can create a "paper wallet" if you want to store your bitcoin safely offline. The paper wallet is basically all the necessary information to generate the private and public cryptographic keys and access the wallet. This basically makes you your own bank - you are responsible for safely storing the paper wallet, probably in multiple safe locations in case of disaster. If you were storing large sums of bitcoin I would strongly recommend doing this as anything online is vulnerable. Unless you're very careful about hiding your identity online Bitcoin transactions are traceable. That's why privacy coins like monero are gaining popularity. All money is fake - it's valued at what society agrees it is valued at. Same is true for bitcoin and other crypto currencies. That's a quick high level for you - hope it helps.
Yes, of course that's what I meant. : ) I either type words twice (including entire paragraphs) or leave words out altogether. Brain thing. If I ever finish The Next Great American Novel, good luck to my editor. They're going to need it. EDIT & P.S.: Edited for fun! ; )
In a nutshell - basically bitcoins are a collection of encrypted code chunks that are all saved together in a giant file called the blockchain. Everyone on the internet has a copy of that blockchain file, but can't take out any of the bitcoins without the right password. If you want one of those bitcoin chunks, you have to get it from someone else by paying them or asking nicely. When they give you the bitcoin that creates a new transaction which is recorded in the blockchain and a different password is created. The price of the bitcoin is determined by how much a person is willing to give it to you for, just like any good or service
Amazon just announced the support for generic blockchain architectures on their AWS platform. Hyperledger now supported for things way beyond currencies
