HOW DOES CRYPTO CURRENCY WORK? 

 

SHAI RUBIN & RICK FALKVINGE

 

 

 

Presentation 1 (13:58) - Blockchain explained: Here Shai Rubin explains in simple terms how the blockchain works in our new world of crypto currency.

Key Points to Remember:

- A node is a computer system on a computer network
- Albert Einstein said if you cannot explain it simply, you do not understand it well enough
- Crypto currency platforms are designed to remove the middle man (eg. Banks)
- All ledgers are kept on multiple nodes where everyone can see it
- Miners earn money (crypto) by unlocking transactions with a generated key (validation)

 

 

 

 

 

 

 

 

 

Presentation 2 - Understading Bitcoin (24:05): Sophie Shevardnadze (RT) interviews a very knowledgeable Rick Falkvinge on the merits and direction of Bitcoin (crypto currency). Do we still need banks?

Key Points to Remember:

- Crypto currency has a limit as to its maximum worth in the world
- A new generation of people will be getting rich through crypto 
- The foundation of crypto currency is based on mathematics
- No permission is needed (from a financial institution) to transact a payment

 

 

 

 

   
   

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The selected video is provided for information purposses only. Have a great day.

 

 

 

 

 

 

 

 

 

 

 

Isaiah.  40:31

But they that wait upon the LORD shall renew their strength; they shall mount up with wings as eagles; they shall run, and not be weary; and they shall walk, and not faint."

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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