Bitcoin Blog a1

Tuesday, February 25, 2014

Repost: Best Bitcoin video ever.

I just recently watched a great video explaining some more confusing concepts in Bitcoin. Here is a great video that shows this. Some of the highlights to look for is:

  • An explanation of the 51% attack ( it doesn't mention it by name, but you can figure it out)
  • It shows exactly how bitcoins are transferred
  • It explains the purpose of mining ( it actually has a purpose which I didn't understand before)
  • Also public keys are randomly generated in your wallet. There is no confirmation with the network that the key isn't taken.

1 comment:

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