Thought Stack v.1.061

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Bitcoin is a peer-to-peer network based digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages: * Transfer money easily through the Internet, without having to trust middlemen. * Third parties cand-deOaot prevent or control your transactions. * Bitcoin transactions are practically free, whereas credit cards and online payment systems typically cost 1-5% per transaction plus various other merchant fees up to hundreds of dollars. * Be safe from the instability caused by fractional reserve banking and bad policies of central banks. The limited inflation of the Bitcoin systemd-deOaos money supply is distributed evenly (by CPU power) throughout the network, not monopolized by the banks.Using Bitcoin:Turn on Options->Generate Coins to get a few coins by helping to run the network. Bitcoin runs in the background when your computer is idle and should not slow down other programs. It may take days to successfully generate a coin, so be patient. The timing varies and depends on how much idle CPU time you contribute.The total eventual circulation of Bitcoins will be 21 million coins. There will never be more coins than that. The coins are entering circulation gradually, at a steady pace over many years, to nodes supporting the network in proportion to the CPU time they contribute.To receive incoming connections, you need to set your firewall to forward port 8333 (TCP) to your computer. This increases the number of nodes you can connect with.Bitcoin can be used through Tor with the command line:bitcoin -proxy=127.0.0.1:9050If you're trying to remain anonymous (pseudonymous, really), be careful not to reveal any information linking your bitcoin addresses to your identity. You should use a new bitcoin address for each payment you receive.

Bitcoin is a peer-to-peer network based ...

network, coins, nodes, money, transactions, payment, computer

 
  • Thought Stack
  • 1.061
  • Satoshi Nakamoto
  • WinXP, Win2003, Win2000, Win Vista, Windows 7
  • Freeware
  • 4.92 Mb
  • 263
  • Free
 
 

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