Bitcoin presentation - Hack and Tell

[RoboticusMusic]

Bitcoin will die out because of a few fatal flaws. The next form of digital currency will be the one to invest in. Just look at its value it went from $30 to $7 in a week. People on the forums are realizing its worth about as much as its electricity. about $2 coin and thats only because of the people who know how hard it is to mine. Think about how dumb your average person is, they will NEVER accept this. They will feel anger for not being able to understand and its worth will be realized after

[bonemouth]

Spam "awesome" much?

[ITILII]

If we could mine all the times he says "uh" and "um" it would soar in value far more than Bitcoins, folks who can't do their presentations properly detract from what could be valuable information, which this may well be since Bitcoin is a hot topic, with lots of pros and cons presented all over the web.

[spy4561]

I'm so confused how Bitcoin works right now.

[666alberto]

i didn't know that a block was a list of transaction!

so:

-how was made the first block?

-more transaction means more blocks generated means more blocks to mine?? (always under a certain limit.. i know.. but how it work?)

it would be nice subtitles (more in the 2nd part) or more clear voice,

for foreign as i am..

good job, and well done! going up!

[nieldsb]

wasnt egypt able to shut their internet down?

[FreeWhiteiPhone4]

@nieldsb If you think they could just shut down the internet across the world, you are sadly mistaken. Also, remember what happened, the government was almost overthrown.

[cataha]

who keeps track of currency? for example

3 people bought 3,33$ = 10$ in circulation then one more buys 4$ so there should be 14$ but how much is there for real? i understand that there is a poll but where is that poll been stored? i understand that everycomputer make it's own bank, poll holder etc.. nocentral. i understand the part about selling could be +/- upto days events

is it backup by anything? food water oil metal etc....

[666alberto]

@cataha no, as Dollars aren't too

[raelik777]

Each bitcoin has 8 decimal places of precision. 21M bitcoins could be divided into 21T pieces of sub-currency, each with 100 pieces of their own sub-currency

[The1337Tum]

This doesn't solve the problem at all - and that graph is *extremely* misleading:

Inflation is introduced into the system when the value is 'split'. He explains this very quickly at the end, by pointing out that it will result in a massive deflationary period after supply runs out.

Basically: $21 Million (eventually) 8 billion people on earth

Soo... who think's there will be inflation in this system..?

[Cleric775]

How unique are the private keys and which cipher are they based on?

[alalelalex]

@Cleric775

You should ask this question on the bitcoin forum at bitcoin org

[Cleric775]

Can bitcoins be "stolen"? Like I could copy and paste someone else's address without me going through any signin or authentication.

[alalelalex]

@Cleric775

To steal bitcoins you must steal someones wallet file. So you must spy on someones computer.

[slonamu]

21 mil bitcoins does not make sense. Only in US there are 300 mil people. How will the Bit coin take on the dollar then?

[alalelalex]

@slonamu

Bitcoins can be divided, so there is always enough for everyone. :-)

[ANDSENS]

@alalelalex More precisely they can be divided into a one hundred millionth (8 decimal places) which means 2.1 quadrillion units

[MorpheusWasRight]

@slonamu only 21 million bitcoins means $100 bitcoins = )

[mbarkhau]

9:36: Is there a bitcoin casino and would it be legal?

Answer should have been: Yes and who cares.