i still don't understand crypto currenciesi mean the part how you transfer ownership
I hate all crypto except this guy. Whoever you were, I salute you.
>>108186060>have a key>key can be used to make a signature>write virtual document saying you give 500 to someone>send it to the blockchain>system confirms you had 500 and you gave to them
>>108186220>system confirms you had 500 and you gave to themwho owns the system?
>>108186276the majority of compute that calculates the system
>>108186284make it make sensewho owns the system of bitcoin?is it like 50,000 computers?
so like 50,000 computers have to take note that a small transaction has taken place?what does it have to do with mathematics
>>108186312your proof of ownership is encrypted. the computers need a lot of math processing to decrypt it back
>>108186358i have learned nothing in this thread
>>108186358i thought blockchain is decentralized
>>108186418what makes you think it is centralized? anyone can turn their computer into one of those decryption computers
>>108186427how many computers need to take note that the transaction took place?
>>108186442at least half of them
>>108186445i still find it hard to wrap my head around it
>>108186451well, you aren't alone considering no one else seems to get it after 2016
>>108186295>spin up 50001 VMs>download the blockchain>suddenly you own the majority>give yourself $999,999,999 in bitcoin for free>jews are powerless
>>108186451maybe go back to high school
>>108186492That's basically the recent 51% attack on Monero
>>108186493do you think they'd let me
>>108186492oy vey delete this post
>>108186505which never reached 51%
>>108186060go watch a video that explains bitcoin, there about thousands right now.
>>108186276Nobody specifically, anyone who solve a hard math problem first (making the next block have a hash ending in a certain amount of zeros) can add a new list of transactions and claim 50 BTC for themselves. But of course due to computational costs only mining companies get them>>108186492It's not a "connection majority", but the amount of computing power and the fact that everyone accepts your blockIf a block were too suspicious people would ignore it everywhere, specially the companies that trade bitcoin for normal currenciesThis happened to ETH actually, someone found a bug and stole a massive amount, so the community was divided into accepting the block or forking it
