by Derek Braid aka @Royal_Arse
I have taken notes from several high profile talks and presentation from world leaders in Bitcoin space. The goal is to educate the world on the greatest innovation in financial services in decades (ever?).
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For a solid general bitcoin intro watch this video. Join the Burlington Bitcoin meetup group.
Bitcoin for Intelligent Investors, available here is a rough translation of the original whitepaper (which is beautiful, recommend reading it at least once!). However, I have used plain language and tried to massage out some of the technical and nuanced prose into plain english. Intended general audience with skew towards financial/econ background. After all bitcoin is highly multi-disciplinary!
Main reason bitcoin is so difficult to understand: inherent paradox of traditional financial services being layered on-top of the blockchain. I thought this was peer-to-peer, and no third party?! Well, as I explain, its a very early and we don't know who/what start ups will build on the blockchain, but we do know that it will be hacked, improved upon and augmented as time passed. Bitcoin just had it's 6th birthday (as of Jan 2015)!, Read full entry here.
Sidechain units of account are do NOT depend on intrinsic valuation. Rather, they can be thought of as “bitcoins-by-extension” (they extend as a side chain from some particular coin). Continue reading...