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in the beginning was the Bitcoin. Everybody has spoken. Everyone has written. Everyone knows him. The criptovaluta that allows you to make financial transactions use intermediaries who immediately known Bank has divided into two factions: enthusiasts and detractors. And the latter are more. Bitcoin does not enjoy a great reputation. Doubts were advanced on the user, on goods that can be purchased with coin (everyone, even illegal). Yet the technology that allows its use has been going on over the past few months the enthusiasm of many. The Protocol is called the block chain, or chain of locks. But two things are not too different Bitcoin block chain. Many even use the two terms interchangeably.
The enthusiasm started in recent times is due to the fact that it was discovered that the block chain has a range of applications tends to infinite. Can afford to any person, or group of people to collaborate, working, professional, contractual relationships, without having to appeal to a central authority that establishes the validity. Imagine what does Bitcoin payments for goods and services. Only that the block chain can be applied to anything that requires a relationship, an Exchange, is guaranteed. Notaries. Institutions. Art experts. Intellectual property. Political elections. In short, everything that has to do with the man in his relations with other men. Come to think of it, we can define the block chain as a perfect machine, an unassailable algorithm, which generates and ensures trust between people in a community. google
It is the block chain true strength of Bitcoin. Why in the block chain have posted all the transitions made in Bitcoin from the first time you used (2009) to date. An account book, and controllable by all. Everyone can check the block chain. But no one can own. The reason is that each transition must be approved by 50% plus one of the nodes of the blocking chain. Concepts which may seem complex, but we will try to explain step by step.
The MYSTERY of the BIRTH of BITCOIN thinking about it, the most amazing thing is that the birth of Bitcoin (and block chain) is still shrouded in mystery (here a useful timeline on the history of Bitcoin). No one knows who, no one knows how many, we don't know how they managed on August 16, 2008 to create and a virtual currency that many have compared to the most important inventions of the last 100 years, as well as those of Einstein and Von Neumann. Bitcoin, and the Protocol that makes it possible to use called the block chain, has written a lot. Books, essays, thousands of articles that have recounted perfection mathematics, analyzed the political, social, economic implications. Bitcoin is born in the heart of the information age, yet have information on its authorship is impossible. Its origin, today more than ever, is legend.
KEYWORDS to see what the BLOCK CHAIN at the base of the Bitcoin is there a mechanism sometimes giddy. Complex. Maybe too much because it may have been born to one mind, that, it seems, by Satoshi Nakamoto (we told his story here), a programmer of which nothing is known. But it's a piece of the legend and couldn't leave it there.
Today bitcoins are accessible to everyone. I use about 4 million people in the world (to have a yardstick, Facebook use 1.5 billion). To get them and start to purchase with the criptovaluta you can contact trading company that convert your money the
safety safety is the true value of Bitcoin. Why should one give up cash and credit cards to make yourself a Bitcoin wallet otherwise. Bitcoin has proven to be a safety net of payment can ensure correct and verified through transitions from one side to the other nodes, anonymity and privacy. It is for this that tempts.
Tempts to anyone for some reason keep their information confidential.
Are the nodes (and miners, which very often are also nodes) to ensure the safety of the entire system. Are they and their unassailable logs to ensure that a coin may not be made more than one payment. The oldest problem of each coin: double pay and counterfeiting. Bitcoin you can't forge. And you can not pay twice for the same amount of currency (or if you want to with the same string of code since it is not a currency issue). The system would not allow it and then don't allow the guardians of the network. But why do they do it? Are benefactors of humanity? No, not at all. Bitcoin is not stuff from good Samaritans. And this is another brilliant idea of criptomoneta. That is based on a human feeling and ancient: greed.
5. Greed to miners and suits controllers that everything is always perfect and unassailable because it's their job and their source of earning more and more lavish. The propriety of Bitcoin is what all actors in the payment network wants, because each step that monitor and verify that gives them a small percentage in bitcoins for their work. A fee in Bitcoin. What is the currency in which they are paid for their work. If they did hurt their earnings will assottiglierebbero. And if collapsing the network blocking.
"Every transition must be taken for good from 51% of the network nodes. Log holders controlling everything, and this guarantees a transaction rate impossible for an institution
CRITICALITY: WHO GUARANTEES THE BLOCK CHAIN?
The ANSWER to the QUESTION who ENSURES that NO ONE CAN CONTROL the BLOCKING CHAIN and then DOCTOR MECHANISM of 51% is simply, NO. Longitude. NO ONE WOULD AGREE TO INVEST SO MUCH MONEY TO BUY THE NODES TO CHECK A VOLUME OF TRADE IN THE NETWORK BELOW THE INVESTMENT ITSELF. AND ONCE DISCOVERED, WELL WHO WOULD USE MORE BITCOIN? THEN TRY TO CHECK THE NETWORK IS UNNECESSARY. THE CHAIN WOULD BLOCK. THE VALUE OF BITCOIN WOULD BECOME NULL AND VOID, OR NEARLY SO, AND CONTROL IT WOULD NOT HAVE ANY PREMIUM. IMPOSSIBLE TO SAY IT CAN'T HAPPEN, BUT IT COULD BE JUST ABOUT ANYONE WITH A HUGE PORTFOLIOS THAT WOULD THROW A HUGE AMOUNT OF MONEY (HUNDREDS OF MILLIONS US DOLLARS) TO BLOW UP BITCOIN.
BITCOIN isn't just the tip of the ICEBERG (of which WE CAN'T SEE the END) Recap. Bitcoin is the currency. Block chain is the Protocol that makes it possible and safe to use. Try to figure out who is which came first is somewhat puzzling in chick and egg problem. Let's say you are ingrained, and today are used interchangeably. But the block chain is an open protocol, available, accessible and replicable by anyone for any application. It is the essence of peer-to-peer philosophy to manage transactions, knowledge, value creation, sharing of goods. Bitcoin is truly revolutionary element block chain. That can be applied to any area of social, political and economic life of a human group.
No more third party controllers, notaries, the central institutions but all managed by network blocks that validate operations. Background the objective of the block chain is to replace all the central institutions with a horizontal network, open and shared. And through the block chain, Bitcoin has ceased to be a disruptive element for financial markets, and begins to be for non-financial ones. So it may be for the intel