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/biz/ - Business & Finance

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11787379 No.11787379 [Reply] [Original]

Can someone actually explain to me how the fuck bitcoin works? When i first heard of it i thought it was free moniez, but when i google how its supposed to work im left stumped.

>> No.11787387
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11787387

>>11787379

>> No.11787391

It doesn't. XRP I hear works.

>> No.11787405

>>11787379
btc is just a decentralized distributed list of transactions within blocks that track the location of btc. you cannot change past within this ledger. i mean you can but it would become infinitely harder as more and more transactions get confirmed, and to change the past you'd have to devalidated all the new transactions. just go and watch this video. as much as i hate his voice it is the best video for normies. https://www.youtube.com/watch?v=bBC-nXj3Ng4

>> No.11787624

>>11787379
the only thing you need to know about bitcoin is you can buy it under $10k now and at one point in the future it will be above $1mil.

the only question is if we can actually use it as currency for day to day payments or it's just gonna be a deflationary asset replacing metals as a hedge?