HqCnpaCA

1Let's say there is a currency that is currently worth hundreds of US dollars.
2But it is not made of gold.
3In fact, more platinum or any precious metal is not the type of coin you can hold in your hand or paste in a piggy bank. It is a digital currency, which means that it only exists electronically. I am talking about calling. Bitcoin does not work as, most of the money is not attached to a state or government, so it does not have a central authority or regulatory body. Basically, that means there is no organization that decides when to do it.Do more bitcoins.
4Find out how many to produce to track where they are, or investigate the fraud. So how does bitcoin work as currency or does it have any value? Well, basically it wouldn't exist without a complete network of people. And a little thing called cryptography. In fact, it is sometimes described as the world's first crypto currency and this is how it works. Bitcoin is a fully digital currency and 
5You can exchange bitcoins between computers in a worldwide peer-to-peer network. The goal of most peer to peer networks is to share things like allowing people to make copies of super legal music or movies to download. Bitcoin as a digital currency. What stops you? Make lots of fake copies and get fabulously rich? Well, unlike a three MP or a video file, a Bitcoin is not a chain of data that can be fooled.
6Located a large one is actually an entry in a large global ledger called blockchain. Because reasons. We will arrive at the blockchain records, every bitcoin transaction that has happened. And in the late twenties, sixteen, the entire accounting book has about one hundred and seven gigabytes of data. So, when you send someone Bitcoins, it's not like you're sending a lot of files. Instead. You are basically writing the extra
7Reach in that great accounting book something like Michael sends Hank five bitcoins. Now. Maybe you're thinking, but wait, you said you don't have a central authority to keep track of everything, even though the blockchain is a central registry. There is no official group of people who update the ledger and keep track of everyone's money, as does a decentralized bank. In fact, anyone can volunteer to keep the blockchain up to date with all the news.
8And a lot of people do it all because there are many people who keep track of the same thing to make sure all transactions are accurate. As you imagine, you are playing a poker game with some friends. But none of you have poker chips and left your cash, and there is no money on the table. So, if you take out some notebooks and start writing who bets, how much you win and who loses, you don't trust anyone else completely. So everyone keeps their
9Separately, at the end of each hand, everyone compares what they have written that way if someone makes a mistake or tries to trick and hook some extra money for them, that discrepancy is detected after a couple of hands that could fill a page of your notebook with notes on the movement of money, and you can think of each page as a block of transactions, eventually your notebook will have pages and pages of information. A string of those.
10Box, therefore, blocks the chain now, if thousands of people keep the Bitcoin blockchain separately.
11How do you keep all the ledgers in sync to continue with our poker analogy? Think of the entire Bitcoin peer-to-peer network as a really huge poker table with millions of people. Some only exchange money, but many volunteers keep accounting books. Therefore, when you want to send or receive money, you must announce it to everyone at the table. Therefore, people who track can update their accounting books. So, for each transaction, you are announcing a couple of things to the Bitcoin network.
12Your account number, the account number of the person to whom you are sending bitcoins and how many bitcoins you want to establish and all users who keep copies of the blockchain will add your transaction to the current block. Having a group of people who track transactions seems like a good security measure, but if all it takes to send bitcoins is a couple of account numbers, it seems like it could be a security issue. It is a big problem with regular.
13The money only thinks of all the ways that criminals try to steal other people's credit card information and it was Bitcoin. There is no central bank that notices anything strange in the closing of the fraud. As if it seemed that you suddenly spent your whole life saving dried meat. So, which prevents Hank from pretending that it is me and only sends all my Bitcoins Bitcoins are kept quite safe. Thanks to cryptography, that's why it's considered a crypto curse.
14Specifically, Bitcoin remains secure due to the keys, which are basically pieces of information that can be used to make mathematical guarantees about the messages. Like, hey, this is really mine when you create an account on the Bitcoin network, which you may have heard is called a wallet. That account is linked to two unique keys, a private and public key in this case, the private key can take some data and basically also market.