/biz/ - Business & Finance

There is a public ledger/record that's some GB big by now, split into a chain of blocks that contains signatures/hashes of each previous one. this makes it effectively impossible to change anything in the ledger (on your computer) without - if you join the network - being exposed to be a scammer to the majority of people who also hold a copy of it.
The data on the ledge are numbers in an INput and and OUTput field, that are tied to an address. There are only 16 million IN values that don't come from some other OUT, and those are the 16 million mined* coins.
The one person who, for a particular address, can turn an IN to an OUT, is the one who has the private key matching the address.
A wallet is merely a small app that holds the private keys and enables you to tlak with the network.
Sending something from your IN is sending a request to the network nodes to collectively change the files.

*btw. I did a short video explaining mining tech in some simpler terms here
https://youtu.be/w3sI8WVX-cc

* People buy drugs
* I do use it to pay for services, actually, although minor
* fuck people to people currencies anyway - embrace crowd funding, fintech, smart contracts and social media reward points

the problem with buying LINK is that there's nothing for the investors to do while they spend their 2 years developing thier (surely valuable) experimental protocol for a similarly experiemntal platform

I had looked at Town Crier and found it interesting but judged that it's fairly academic and will take years to be realized. Crypto is full with 20 year olds with ADHD, the price won't stay up. That's why I didn't do the ICO.

It's my sisters birthday this weekend.

What should I get her? I was thinking 1.25 LTC and 1.3 NEO.

Give me hard evidence that trading between cryptocurrencies is not a taxable event.

And no,
>I really wouldn't like it if that would be the case so it just can't be
is not valid evidence.

This video has the humbling name
>what's an ICO?
But he's really explaining a whole lot of things that are going on in the last month. Must watch.

https://youtu.be/9bGQfYwfIlA

You're right about the motivation for people right now (low in->right now) but the "no value" idea is short sighted. Yes, you don't buy anything substantial, but in contrast to other Ponzi schemes, there is the idea that eventually normies are gonna use it as transaction unit (when the price stabilizes) and if that happens (i.e. when people start using it for something else than trading itself) then it won't collapse (not any more than the dollar might collapse). Of course, that's an IF, and that's the gamble.