The real value of bitcoin and crypto currency technology - The Blockchain explained
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Bitcoin in five minutes: Blockchain technology will drastically change our lives. In the coming years, the technology behind crypto currencies such as Bitcoin will inevitably and radically change the role of traditional trusted parties such as banks, accountants, notaries, and governments. The animated video about Bitcoin that was released today on http://bitcoinproperly.org is the first to specifically address the technology behind Bitcoin: the Blockchain. Within five minutes, it is explained how the essential functions of the “trusted third party” can be automatized through the Blockchain as well as what the implications of this are. From Bitcoin hype to Blockchain revolution: an internet of trust. With the arrival of crypto currencies such as Bitcoin, everyone around the world can trade with each other without any involvement from traditional third parties such as banks, notaries, accountants, and governments. Trade is a fundamental pillar of our economy and society, and traditional trusted parties play a crucial role in this. The technology behind Bitcoin making all this possible – the Blockchain – ensures that the essential functions of the “trusted third party’, are fully automatized through the internet. This way, these functions are as freely available, accessible, and programmable as the internet itself. The animated video, available in both Dutch and English, explains how this works, also mentioning practical applications. The implications are clear: in the coming years, the role of the traditional trusted parties will inevitably and drastically change, strongly impacting our daily lives. The creators of this animated video invite its viewers to think about and discuss the fundamental and radical innovations made possible by crypto currencies. Rutger van Zuidam ecommerce entrepreneur and founder of IntoBitcoin.com: “The Netherlands have all the assets to become Europe’s Silicon Valley of financial technology. It is possible for the Netherlands to position itself favourably in comparison to the US and UK, who are currently still ahead. The technology behind crypto currencies like Bitcoin plays an essential role in leveraging these opportunities. We hope that the animated video about the technology behind crypto currencies will positively affect this development.” Lykle de Vries: ”Bitcoin is not the new money for internet,but it is the new internet for money, value and ownership in all forms. Crypto currencies like Bitcoin are the next step in the emancipation of all world citizens, and can help create a new dynamic for democracy, society and economy.” About the creators The animated video is a non-profit initiative by designers Patrick Loonstra (www.patrickloonstra.nl) and Sebas van den Brink (sebasvandenbrink.nl) and entrepreneurs Lykle de Vries (ThesisOne.com) and Rutger van Zuidam (Senanga.net, IntoBitcoin.com).
Comments
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what if there is a solar flare that blasts all cryptocurrencies holding terminals?
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Great opportunity to invest in new cryptocurrency called DasCoin at it's earliest and cheapest stage: https://coinleaders.com/ref/dascoinunlimited
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How do I know the bitcoin that I buy isn't preprogramed to do something after I buy it?
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can a bitcoin be programmed now?
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If there's a catastrophic event do you think your neighbor will care how many bitcoins you have?
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intelligent money that makes compliancy work automatically is fab...the savings will be tremendous!
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Yeah, agree with "K Russell". Still do not understand a "bitcoin" of it as the video fails to provide simple business scenarios for a layman to understand the background
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WHAT - IS - THE - FUCKING - POINT - WHEN - I - DONT - UNDERSTAND - WHERE - THE - FUCK - BITCOINS - COME - FROM? POINTLESS.
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Excellent video, nicely done.
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Cryptocurrency coming between people faster and faster. Cryptocurrencies using more advanced technologies to come closer to users. What is one problem with cryptocurrency? You can't spend it worldwide. But from april 2017 everything change.
By using New Cryptocurrency you will be able to pay in 10.8 million shops with your cryptocurrency everywhere where Visa and Mastercard is accepted. Woooow MainStream coming. First time in history of human kind. Want to know more informations? Send me message on Facebook https://www.facebook.com/dany888 -
I've heard a lot of hash talk here, but the dispensary still wont give me hash for bitcoins, what am i doing wrong lol
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I don't really get the part about bitcoins being programmable to only work in a certain situation. Can't I theoretically collect a large amount of bitcoin then program them to be practically unusable (only usable in a really specific situation) therefore taking them out of circulation ?
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It will work well when it does work, but it is a massive vector for denial of service attacks. The wider spread the technology, the more expensive and devastating a denial of service attack would be. Imagine a rogue government agency corrupting transactions for a country that government is at war with.
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Best explanation of the blockchain I have seen so far, hands-down!
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Buy early and become a bitcoin billionaire!
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bitcoin is just for buying drugs and other illegal stuff
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I was pretty hyped at the beginning that she was going to talk about teleportation.
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I want to make my own currency!! And then give it to everyone!!
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The problem with bitcoins is the same as the old currency, only those who can data mine in other words are rich and can afford high computing power get bitcoins which is a pretty dumb concept as it ensures the rich will get the first bitcoins and another thing to note is that they say everyone gets a record of all the transactions then if suppose bitcoins is used everywhere around the world then there will be trillions of transactions daily, how in the fuck will a file containing trillions of transactions reach every computer, its just not possible and what a waste of internet bandwidth would that be, old currency is better in my opinion and we have already gone cashless so why is everyone crying that we need a new currency, current method allows us to track all transactions too and government can easily figure it out with resources who is illegally hiding money, bitcoins will just help ISIS and smugglers and cartels, selling weapons and prostitutes in black market etc, its a stupid concept
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