Showing posts with label build up of payments for the middleman. Show all posts
Showing posts with label build up of payments for the middleman. Show all posts

Friday, May 16, 2014

Understanding bitcoin in a simple way


I hope this simple presentation would lead you to understand and hopefully adopt this great technological invention that would make great changes and developments for the whole world

                                 

the home
0:07
it
0:13
and Bigpoint is a digital currency
0:16
which aims to do away with all the problems we have paintings online
0:20
I'll you may think the system we have is pretty good
0:24
but everything we buy today has to go through a bank or credit card company
0:28
who take a cut to the transaction and who rely on our trust that they'll do
0:31
everything right
0:33
after a while those payments start to build up
0:36
an addict to security you have to trust your card company to keep your details
0:40
safe
0:41
0 many people try to work out how to have a payment system without that
0:44
middleman
0:45
but then there's another problem how do you prove that you pay for some think
0:51
or even the half that money at all without someone vouching for you
0:55
well it's so serious has a name
0:58
the double spending problem
1:01
I'll then in 2008
1:05
a solution was offered by an anonymous program going by the name
1:09
station at a motel
1:12
Nakamoto left the paper on a popular crypto crippled
1:15
which proposed a system of currency this old all of these fatally problems
1:20
I'll his proposal was that instead of a bank or credit card company recording
1:24
every transaction in one central ledger
1:26
ap all the users with record all of the transactions at the same time
1:31
ok as a result any attempt to fool the community would be noticed and the
1:36
payment projected
1:39
no one user government
1:41
all bank can force a fee on a payment or control it slow
1:46
the result is a cheaper quicker and easier way to spend money
1:50
even across national borders well
1:54
so this is pat Quinn and it's already starting to have an impact on people's
1:57
lives


1:58
I'll with a month to the proposal it was being used to buy and sell goods
2:02
although not always from my scrupulously traders
2:06
I'll he but it's not all shady business is
2:10
I'll some shopping sites take it
2:13
you can buy points in London and even pay for university tuition
2:17
up
2:22
well
2:24
as you might have heard there are problems well summer profiting from
2:28
getting involved early
2:29
others are losing out from this volatile in young market
2:33
and people found in companies to buy out lots a PICC lines
2:36
as it's designed to have unlimited amount ever in circulation
2:40
that might cause problems down the road there's so much uncertainty around
2:45
pickling
2:46
some people genuinely think this is the future I'll
2:49
others are terrified it could destroy our economy but many from both sides
2:55
agree
2:55
that if we could get bit going to work or something like it
3:00
me if we can trust a digital currency
3:04
to work without the middle name the way the world economy functions
3:08
I'll could be transformed for the better up
3:12
me


Start  earning with bitcoin  and  use it  here's a link to GENERATE BITCOIN  adopt BITCOIN..