Author

Topic: 2013-03-22 Leading Company 'Who benefits from the extraordinary rise of Bitcoin' (Read 893 times)

legendary
Activity: 938
Merit: 1001
bitcoin - the aerogel of money


Quote
A single Bitcoin is essentially a number that satisfies a certain mathematical equation

Fail.

A bitcoin is a unit for an amount on an account.  It does not satisfy any more complex mathematical equation that a USD amount on a bank account does.

What does satisfy a complex mathematical equation is the transfer of this bitcoin from an account to an other.


Yeah, that made me cringe too.

To be fair, it's not easy to explain the cryptography behind bitcoin in one short sentence.
legendary
Activity: 1288
Merit: 1080


Quote
A single Bitcoin is essentially a number that satisfies a certain mathematical equation

Fail.

A bitcoin is a unit for an amount on an account.  It does not satisfy any more complex mathematical equation that a USD amount on a bank account does.

What does satisfy a complex mathematical equation is the transfer of this bitcoin from an account to an other.
Jump to: