The blockchain potentially cuts out the middleman for these types of transactions. Personal computing became accessible to the general public with the invention of the Graphical User Interface (GUI), which took the form of a “desktop”. Similarly, the most common GUI devised for the blockchain are the so-called “wallet” applications, which people use to buy things with Bitcoin, and store it along with other cryptocurrencies.
I would like to second the motion that some time be spent cleaning up the grammar. Great opportunities to educate about great topics can be squandered through inattention to the quality of presentation. I’ve tried reading this several times and have to agree that it’s quite painful to get through–not because it’s inaccurate, but simply because it’s garbled in critical spots. One suggestion is to let a skilled copy editor review text prior to its release. Sites that don’t proofread their content run the risk of being dismissed as less than reliable. Often I want to refer others interested in learning about CC to specific information sites but can’t yet recommend this one.
Real money is gold, silver, precious metals and gemstones, natural resources. Paper currency and coins use to be backed by gold or one of these other material commodities and was payable upon demand to any the person who had the dollar bill or coin currency, it was once written right on the Dollar bills and it was legal tender backed by the governments’ gold reserve! But corruption on an unprecedented scale took over and the general public was tricked into accepting a false standard of the economy where people blindly trusted another system which really didn’t benefit them. Just look at all the financial and economic chaos around you that has effective your lives over many decades and the political instability growing every day!
The main reason we even have this cryptocurrency and blockchain revolution is as a result of the perceived shortcomings of the traditional banking system. What shortcomings, you ask? For example, when transferring money to overseas markets, a payment could be delayed for days while a bank verifies it. Many would argue that financial institutions shouldn't tie up cross-border payments and funds for such an extensive amount of time.
Imagine the number of legal documents that should be used that way. Instead of passing them to each other, losing track of versions, and not being in sync with the other version, why can’t *all* business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow. You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one.” – William Mougayar, Venture advisor, 4x entrepreneur, marketer, strategist and blockchain specialist
Blockchain is the digital and decentralized ledger that records all transactions. Every time someone buys digital coins on a decentralized exchange, sells coins, transfers coins, or buys a good or service with virtual coins, a ledger records that transaction, often in an encrypted fashion, to protect it from cybercriminals. These transactions are also recorded and processed without a third-party provider, which is usually a bank.
Sure. As discussed, the easiest way to acquire Bitcoin is to buy it on an exchange like Coinbase.com. Alternately, you can always leverage the "pickaxe strategy". This is based on the old saw that during the 1849 California gold rush, the smart investment was not to pan for gold, but rather to make the pickaxes used for mining. Or, to put it in modern terms, invest in the companies that manufacture those pickaxes. In a crypto context, the pickaxe equivalent would be a company that manufactures equpiment used for Bitcoin mining. You can look into companies that make ASICs miners or GPU miners. 
Do not mine for bitcoins. Bitcoin mining software is designed to perform a series of calculations to search for stray bitcoins online. While the practice is not illegal, it's probably a waste of time. Many users are currently mining bitcoins and there is a limited amount in circulation. You are unlikely to find many bitcoins, if any, via mining so it's probably best to save your time and save money on the software.[23]
Blockchain is a decentralized digital ledger (a continuously growing list of electronic records) of transactions kept over time and secured using cryptography (a kind of algorithmic code). Blockchain ledger data is distributed across a network of computers. Its users can directly interact with stored data in real-time without the need for an intermediary (a “middle-man” or distributor) to authenticate transactions. The technology provides an independent, tamper-resistant, and transparent platform for parties within the blockchain to securely store, transmit, and process sensitive information.
Do not mine for bitcoins. Bitcoin mining software is designed to perform a series of calculations to search for stray bitcoins online. While the practice is not illegal, it's probably a waste of time. Many users are currently mining bitcoins and there is a limited amount in circulation. You are unlikely to find many bitcoins, if any, via mining so it's probably best to save your time and save money on the software.[23]

Elections and polls could be greatly improved with smart contracts. There are various apps already in existence, such as Blockchain Voting Machine, Follow My Vote and TIVI. All of them are promising to eliminate fraud, while providing complete transparency to the results and keeping the votes anonymous. However, there is still a long road ahead before decentralized voting is implemented widely.
When mining began, regular off-the-shelf PCs were fast enough to generate bitcoins. That's the way the system was set up—easier to mine in the beginning, harder to mine as more bitcoins are generated. Over the last few years, miners have had to move on to faster hardware in order to keep generating new bitcoins. Today, application-specific integrated circuits (ASIC) are being used. Programmer language aside, all this means is that the hardware is designed for one specific task—in this case mining.
If you have been following banking, investing, or cryptocurrency over the last ten years, you may be familiar with “blockchain,” the record-keeping technology behind bitcoin. And there’s a good chance that it only makes so much sense. In trying to learn more about blockchain, you've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." The good news is, blockchain is actually easier to understand than that definition sounds.
A smart contract is a computer code that can be built into blockchain to facilitate, verify, or negotiate a contract agreement. Smart contracts operate under a set of conditions that users agree to. When those conditions are met, the terms of the agreement are automatically carried out. Say, for example, I’m renting you my apartment using a smart contract. I agree to give you the door code to the apartment as soon as you pay me your security deposit. Both of us would send our portion of the deal to the smart contract, which would hold onto and automatically exchange my door code for your security deposit on the date of the rental. If I don’t supply the door code by the rental date, the smart contract refunds your security deposit. This eliminates the fees that typically accompany using a notary or third-party mediator.
Blockchain is the digital and decentralized ledger that records all transactions. Every time someone buys digital coins on a decentralized exchange, sells coins, transfers coins, or buys a good or service with virtual coins, a ledger records that transaction, often in an encrypted fashion, to protect it from cybercriminals. These transactions are also recorded and processed without a third-party provider, which is usually a bank.
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Blockchain forms the bedrock for cryptocurrencies like Bitcoin. As we explored earlier, currencies like the U.S. dollar are regulated and verified by a central authority, usually a bank or government. Under the central authority system, a user’s data and currency are technically at the whim of their bank or government. If a user’s bank collapses or they live in a country with an unstable government, the value of their currency may be at risk. These are the worries out of which Bitcoin was borne. By spreading its operations across a network of computers, blockchain allows Bitcoin and other cryptocurrencies to operate without the need for a central authority. This not only reduces risk but also eliminates many of the processing and transaction fees. It also gives those in countries with unstable currencies a more stable currency with more applications and a wider network of individuals and institutions they can do business with, both domestically and internationally (at least, this is the goal.)

Illiquidity. This is mostly moot due to Bitcoin’s $47 market cap but it still makes users sweat. It’s highly unlikely that Bitcoin’s price would plummet and you’d be unable to take action, but it’s still unsettling.  As more investors invest, however, illiquidity becomes a negligible risk, as there will likely always be a buyer for Bitcoins waiting.

One of Bitcoin’s most appealing features is its ruthless verification process, which greatly minimizes the risk of fraud. Since Bitcoin is decentralized, volunteers—referred to as “miners”—constantly verify and update the blockchain. Once a specific amount of transactions are verified, another block is added to the blockchain and business continues per usual.


To be honest, I'm not a big friend of gambling. But it is a way to earn Bitcoins so in order to make this list complete it needs to be mentioned here. However, I won't list any links to gambling sites here. It's fairly easy to research them if you are interested. And if you clicked on some of the above links you probably already came across some Bitcoin gambling sites.
User fear of 51% attacks can actually limit monopolies from forming on the blockchain. In “Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money,” New York Times journalist Nathaniel Popper writes of how a group of users, called “Bitfury,” pooled thousands of high-powered computers together to gain a competitive edge on the blockchain. Their goal was to mine as many blocks as possible and earn bitcoin, which at the time were valued at approximately $700 each.

The potential for added efficiency in share settlement makes a strong use case for blockchains in stock trading. When executed peer-to-peer, trade confirmations become almost instantaneous (as opposed to taking three days for clearance). Potentially, this means intermediaries — such as the clearing house, auditors and custodians — get removed from the process.
News drives attention, and attention drives understanding. While many people have flocked to cryptocurrencies purely in search of financial gain, there are a ton of people that are simply curious. Some peoples are sticking around and trying to understand what cryptos are all about. While more users increase Bitcoin’s network effect, more people forming in-depth understandings of cryptos also strengthen the active Bitcoin community.
In the financial world the applications are more obvious and the revolutionary changes more imminent. Blockchains will change the way stock exchanges work, loans are bundled, and insurances contracted. They will eliminate bank accounts and practically all services offered by banks. Almost every financial institution will go bankrupt or be forced to change fundamentally, once the advantages of a safe ledger without transaction fees is widely understood and implemented. After all, the financial system is built on taking a small cut of your money for the privilege of facilitating a transaction. Bankers will become mere advisers, not gatekeepers of money. Stockbrokers will no longer be able to earn commissions and the buy/sell spread will disappear.

Heath/Medical Records: Blockchain has the potential to standardize secure electronic medical record sharing across providers in a less burdensome way than previous approaches.5 It offers the ability to create a decentralized record management system that reduces the need for another organization between the patient and the records to manage access. Blockchain-enabled healthcare applications offer potential benefits such as instantly verifying the authenticity of prescriptions or automatically identifying potential adverse drug interactions.
Getting Bitcoin blockchain explained is essential to understanding how blockchain works. The Bitcoin blockchain is a database (known as a “ledger”) that consists only of Bitcoin transaction records. There is no central location that holds the database, instead it is shared across a huge network of computers. So, for new transactions to be added to the database, the nodes must agree that the transaction is real and valid.
People, don’t be fooled by the apparent advantages and usages of Blockchain technology or Bitcoin, it’s what you don’t know that is destructive to you personally and to society in general. It is merely another way to control you through information, to hack into your private lives and the only ones that truly benefit from this technology are the global wealthy elite, the greedy, materialistic oligarchs of global chaos and conflict. Bitcoin is virtual money, it doesn’t really exist except on the computer!
2. That transaction must be verified. After making that purchase, your transaction must be verified. With other public records of information, like the Securities Exchange Commission, Wikipedia, or your local library, there’s someone in charge of vetting new data entries. With blockchain, however, that job is left up to a network of computers. These networks often consist of thousands (or in the case of Bitcoin, about 5 million) computers spread across the globe. When you make your purchase from Amazon, that network of computers rushes to check that your transaction happened in the way you said it did. That is, they confirm the details of the purchase, including the transaction’s time, dollar amount, and participants. (More on how this happens in a second.)
This should be a big clue to you of the type of quasi-Christian eschatological mindset of the Oligarchs and the other powers that rule and control you! Never mind the governments to help you in your time of crisis, they haven’t really existed for a long time! Presidents and politician are decided upon before you even vote for them, as to who gets into office to supposedly “represent you”!
Blockchain forms the bedrock for cryptocurrencies like Bitcoin. As we explored earlier, currencies like the U.S. dollar are regulated and verified by a central authority, usually a bank or government. Under the central authority system, a user’s data and currency are technically at the whim of their bank or government. If a user’s bank collapses or they live in a country with an unstable government, the value of their currency may be at risk. These are the worries out of which Bitcoin was borne. By spreading its operations across a network of computers, blockchain allows Bitcoin and other cryptocurrencies to operate without the need for a central authority. This not only reduces risk but also eliminates many of the processing and transaction fees. It also gives those in countries with unstable currencies a more stable currency with more applications and a wider network of individuals and institutions they can do business with, both domestically and internationally (at least, this is the goal.)

Lend directly to someone you know. This allows you to assess personally, whether you regard the borrower as trustworthy. Then the two of you only need to agree on the terms like duration and interest rate and off you go. The drawback is, however, that you probably will not have too many acquaintances who match your amount, duration and interest rate requirements. But it's a nice way to earn Bitcoins.

The incredibly low-cost days of mining bitcoin, which only lasted a couple years, were days where one bitcoin was so cheap that it financially made sense to mine them at a very low cost instead of buying them. For context, the first exchange rate given to bitcoin was in October 2009, 10 months after the first block was mined. The rate, established by the now-defunct New Liberty Standard exchange, gave the value of a bitcoin at US $1=1309.03 BTC. It was calculated using an equation that includes the cost of electricity to run a computer that generated bitcoins. This was the period of time where bitcoins, which were looked at as little more than a newly created internet novelty, could be mined in large quantities using an average computer.


Wallets and similar software technically handle all bitcoins as equivalent, establishing the basic level of fungibility. Researchers have pointed out that the history of each bitcoin is registered and publicly available in the blockchain ledger, and that some users may refuse to accept bitcoins coming from controversial transactions, which would harm bitcoin's fungibility.[118]
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