The following post by aabasov is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7zj5i6 The original post's content was as follows:
Came across this video on blockchain technology. Very interesting for beginners - dwindly.io/nRQNcV
Can any of the BU/big block supporters here explain how it is that scaling on-chain is the way to keep bitcoin decentralized long term?
It seems to me, that the only way to achieve Visa levels of transaction capacity on-chain (which will never be instant btw) is to have Visa sized companies run nodes. And if all nodes are controlled by big miners, Visa, governments, big banks, and tech giants - then bitcoin is no longer decentralized and creating it was a complete waste. I also think aiming for Visa levels of capacity is also really undershooting where bitcoin needs to eventually be, but that's probably not really important at the moment - I think we can all agree that a lot more capacity is needed.
02-06 21:24 - 'I doubt bitcoin will die, but I think other every fork will die. I just read the Ethereum white paper for example. Notice how they gloss over the fact that they changed the format of the block chain. They explain that it's dif...' by /u/theFoot58 removed from /r/Bitcoin within 2-12min
''' I doubt bitcoin will die, but I think other every fork will die. I just read the Ethereum white paper for example. Notice how they gloss over the fact that they changed the format of the block chain. They explain that it's different (hence the need for a hard fork, i.e. they want in on the ground floor of the crypto bonanza), but they never explain WHY they decided to change the format???? Everything else in that white paper seems doable with the existing satoshi base. Smart contracts seem to be implemented with a transaction hook (UTOX???) that exists in satoshi. All they say about the different blockchain format is 'Ethereum blocks contain a copy of both the transaction list and the most recent state.'. OK great , WHY????? They don't say! Then they spend a paragraph explaining why it "shouldn't be that bad" WRT scalability and performance, WTF! If they are trying to improve on a technology that, now that it's clearly in production and well tested, has scalability issues, why would they do something that might impact scalability, and not give the reason WHY? None of this is making sense to me. ''' Context Link Go1dfish undelete link unreddit undelete link Author: theFoot58
Something bitcoin could use... high quality motion graphics videos explaining all the basics to the public, w/ charts, visualization of the live block chain, etc.
I love the talks on YouTube from people like Andreas explaining Bitcoin and why we should be excited. I think I speak for quite a few people though when I suggest there's an audience for nicely made motion graphics vids. This one by Duncan Elms, "Bitcoin Explained," is fantastic -- but the numbers are massively out of date now ($76 per coin, I wish) and it focuses too much on outdated info. He doesn't look to be active on twitter any more, but if anyone can reach him an updated version would be awesome.
How to explain Bitcoin and the blockchain to newbs?
Hi everyone, so I have tried to explain bitcoin and the blockchain to my family but they still seem not to get it. So is there a very good and thorough beginners 101 bitcoin video that I can show them, so they would understand me better? Would help alot :)
Bitcoin Cash was a hard fork of the Bitcoin chain activated on August 1, 2017. A majority of proponents of Bitcoin Cash are miners who refused to adopt BIP 91 without increasing the block size as they felt it would only delay confronting an inevitability and that smaller blocks favored people who wanted to treat bitcoin as a digital investment ... Loi: Bitcoin essentially laid the foundation for more complicated blockchain technologies like Ethereum, but the fundamentals are the same: it is a secure protocol for mutually untrusted parties ... Specifically, in the Bitcoin blockchain, the consensus of the network and all its participants is that as long as a produced hash (which we get from combining the last paper's hash and all the transactions of the current paper, plus a random bit of numbers and letters) starts with a given number of zeroes, it is valid. A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency's block chain contains every transaction ever executed in the currency. Blockchain explained for dummies Blockchain is a network of computers (called nodes) that all have the same history of transactions, validated by every new computer that wants to be part of the ...
"Blockchain" or Bitcoin: Understanding the differences ...
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