Explain bitcoin like im five

Well you are contributing to diminishing the planets resources for something that is immaterial, unlike steel.Motivated by someone challenging me to explain polymorphism and recursion to a five year old using puppies.There is a lot of stuff running on eth blockchain and you are contributing to help with eth network transactions and getting paid out in coins.

How does Bitcoin work? - Bitcoin

Mainstream economists are acknowledging the importance of the trend.Once it has benchmarked all the coins, shut down the mining (you will need to close two windows).

Bitcoin Mining - Everything you need to know about Bitcoin

explain like I’m 5: If I wanted to sell - 1 Bitcoins

Explain to me like I'm five... | FinHeaven - Miami

Explain It Like I'm 5 years old Wiki | FANDOM powered by Wikia

When you send funds to someone, a worldwide network of computers will come to an agreement among themselves that ownership of the funds has passed from one anonymous person to another.In order to decide which block of transactions will be entered next to the blockchain.

Amazon.com: Explain Like I'm Five: Alexa Skills

Segregated Witness Explained Like I’m 5 – Decentralize Today

Mining - probably one of the most interesting things of this decade.Send feedback, corrections or suggestions to hello monero.how.Yes, mining burns a lot of electricity, that is a good point and it is a legitimate environmental issue to consider.

Short Selling Explained: What it Means to Short a Stock

If you want to get rich from it you would need a time machine to go back 4 years or have a massive state of the art mining farm with cheap electricity.Source: reddit.com. 58 notes. 58 notes coffee- studyblr liked this. dawnglade liked.

Can someone explain digital currencies to me like I'm

You can follow us and laugh along with Bitcoin and other cryptocurrency projects on our twitter,.You tell other people this address so that they can send you funds.

I mine, have been for a long time., but the massive amount of energy used in mining is why people say it is wasteful.

1364: Like I'm Five - explain xkcd

Always do your own research, form your own opinions, and never take risks with money or trust third parties without verifying their credibility.Bitcoin will scale the best way. Never miss a story from nopara73, when you sign up for Medium. Learn more.Everyone stores their funds using a software application called a Monero wallet.

What is produced is a secure method to do transactions not limited by governments which has its own value.Well, to explain this, let’s use a really basic example.

Small businesses may like them because there are no credit card fees.

Bit Coin. Please explain it to me like I am a 3 year old

This means Monero cannot be shut down by any one country or authority.

BitShares Rebranding Signals New Communication Strategy

Mining in cryptocurrency is basically, the work of those trustees. they move money and verify it with the math.

Explain MapReduce like I'm five - dev.to

Bitcoin is a digital currency created in 2009 by Satoshi Nakamoto. The name. like dollars or euros.

You may have heard the term hash or SHA-256, but what do they actually mean.

It solves arbitrary formula based on math that is only important to them in the trade of money.But when it takes time to communicate blocks mining acts more like a race.I tried to find its meaning on the Internet, but I got only an acronym.

What is Bitcoin? - CNNMoney

You contribute your share on exexuting it you get paid commission.

Explain Like I’m 5: Why Is Dairy Not the Best Source of

It also keeps your business transactions confidential from competitors.It takes time and loads of reading and research to understand.

So if you wanted to exchange your coins for ammo, jus bank out.You cannot feel it in your hands and or stuff it in jars in the back yard.

Bitcoin Explained Simply | LinkedIn

The shared global record of transactions is called the blockchain.