Bitcoin: The World’s First Cryptographic Commodity

Bitcoin: The World’s First Cryptographic Commodity :

Bitcoin: The World’s First Cryptographic Commodity

The key to Bitcoin’s security is the encryption block-chain. Every user that “mines” Bitcoins is really running the network by generating solutions to a cryptographic formula that is known to be secure. Every time a solution is found a “block” is generated. This block includes the solution to the cryptographic formula, as well as all transaction data conducted during that block cycle. As these blocks are accumulated they form a “tree”. This tree is also known as the block-chain. Since every block created is dependent on the information generated from the previous blocks, hacking the block-chain becomes nearly impossible. In order to sustain a fraudulent transaction in the block chain (also known as double spending) one would have to control the data on every user node participating in the network, and do so from that moment on. That would require an astronomical amount of ...

Full article: http://theintelhub.com/2013/02/04/bitcoin-the-worlds-firs...

Tweets

@waspoza » 16 Feb '13, 9pm
@Duckit @jamesmurphyftw here u have some nice info [link] and [link] and [link]
@waspoza » 15 Feb '13, 7pm
@clarkmkendall see here [link] and here [link]
@waspoza » 15 Feb '13, 7pm
@educatingeric see here [link] and here [link]
@waspoza » 15 Feb '13, 6pm
@utenjm also check this [link] this [link] and this [link]
@waspoza » 13 Feb '13, 8pm
@ShippoFoxFire @Blarion here u have some explanations [link] and here [link]
@waspoza » 07 Feb '13, 8pm
@RalphWayneJG @jerrycrackhouse here u have some info [link] and here [link]
@_CatInAHat » 06 Feb '13, 7pm
Bitcoins hv hit $20. Shame I nvr had cash to invest last yr at $4! [link]
@waspoza » 06 Feb '13, 7pm
@KylesGeekTweets some info on bitcoins: [link]
@waspoza » 05 Feb '13, 11am
@KeyannaRochelle @TenRenKen here you have explained [link] and here [link]
@TheManlnTheSuit » 04 Feb '13, 8pm
The bitcoin network is gonna give the powers that be a run for their money. [link]
@waspoza » 04 Feb '13, 6pm
@dysinger #bitcoin is backed by it's scarcity [link]
@waspoza » 04 Feb '13, 2pm
@jasonHoyt here you have some explanations [link] and [link]
@CorpCattle » 04 Feb '13, 1pm
@YourAnonNews Bitcoin: The World’s First Cryptographic Commodity [link]
@BitCoinReporter » 04 Feb '13, 12pm
[link] [link] #bitcoin
@RedditBTC » 04 Feb '13, 11am
[link] [link] via @Reddit
@1freetruth » 04 Feb '13, 11am
Bitcoin: The World’s First Cryptographic Commodity [link] #Truth #Freedom
@silvercirclemov » 04 Feb '13, 3am
What do you guys think of the term "Cryptographic Commodity" to describe Bitcoin? [link]
@netsecured99 » 04 Feb '13, 3am
RT @Sir_Max2013Bitcoin: The World’s First Cryptographic Commodity [link] #ventura: Bitcoin: The World’s First Cryptogra...
@netsecured99 » 04 Feb '13, 3am
RT @stopnuclear2013Bitcoin: The World’s First Cryptographic Commodity [link] #news: Bitcoin: The World’s First Cryptogr...
@Sir_Max » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity [link] #ventura
@stopnuclear » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity [link] #news
@RassRadio » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity: By Mind Vine [link] February 3, 2013 One result... [link]
@NBTWT » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity [link]
@ItsTheGovt » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity: By Mind Vine [link] February 3, 2013 One result... [link]
@INF0S7R34M » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity: By Mind Vine [link] February 3, 2013 One result... [link]
@RAndrewOhge » 04 Feb '13, 3am
Bitcoin: The World's First Cryptographic Commodity: [link]
@azureblade7 » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity [link]
@TruthSupport » 04 Feb '13, 3am
Bitcoin: The World’s First Cryptographic Commodity [link]