Topic: Beginner questions. - page 2. (Read 390 times)
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A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.
In wikipedia you can find more information. Hope this will be helpful
In wikipedia you can find more information. Hope this will be helpful
Is this correct?
1. Crypto currency is a digital asset. It is designed to work as a medium of exchanging ''value''. It uses cryptography to secure its value, to create additional units and to verify transactions.
I do not get the ''it is designed to work as a medium of exchanging ''value'' part. And what does ''uses cryptography to secure its value'' mean? What is the ''value here''?
1. Crypto currency is a digital asset. It is designed to work as a medium of exchanging ''value''. It uses cryptography to secure its value, to create additional units and to verify transactions.
I do not get the ''it is designed to work as a medium of exchanging ''value'' part. And what does ''uses cryptography to secure its value'' mean? What is the ''value here''?
Yes, it's basically correct. However, not all cryptocurrencies use cryptography to create additional units. Right now, only cryptocurrencies with "mining" do that.
The "value" is what you can trade cryptocurrency for. Right now the price of Bitcoin is between $15,000 and $20,000 which is the price of some cars. So you can trade 1 BTC for a new car. See the value?
2. Blockchain is a continously growing list of records called ''blocks''. They are linked and secured using cryptography. Each block contains all sorts of informations such as ''hash pointed'', which points to the previous block, timestamp and transactions data. Blockchains are inherently resistant to modification. It is also described as an open, distributed ledger that can record transactions between two parties in a verifiable and permanent way.
What does the ''securing transactions in a VERIFIABLE way mean? How is it be verified?
What does the ''securing transactions in a VERIFIABLE way mean? How is it be verified?
Cryptography allows things to be verified. I can't explain that in a few sentences as it's an entire field. However, for the basics all you need to know is it's based on math. I'll give you an example. I will tell you that 2 + 2 = 4. Can you verify that? Yes you can. Just go to a store and buy a calculator, then press the buttons 2 + 2 and see if the answer is 4. If it is you verified what I said. That's similar to cryptography.
he man here al al the anwsers you need
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http://lmgtfy.com/?q=Are+there+strict+cryptocurrency+buy%2Fsell+taxation+laws+in+Europe%3F9) http://lmgtfy.com/?q=Does+cryptocurrency+has+a+bright+future%3F
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Is this correct?
1. Crypto currency is a digital asset. It is designed to work as a medium of exchanging ''value''. It uses cryptography to secure its value, to create additional units and to verify transactions.
I do not get the ''it is designed to work as a medium of exchanging ''value'' part. And what does ''uses cryptography to secure its value'' mean? What is the ''value here''?
2. Blockchain is a continously growing list of records called ''blocks''. They are linked and secured using cryptography. Each block contains all sorts of informations such as ''hash pointed'', which points to the previous block, timestamp and transactions data. Blockchains are inherently resistant to modification. It is also described as an open, distributed ledger that can record transactions between two parties in a verifiable and permanent way.
What does the ''securing transactions in a VERIFIABLE way mean? How is it be verified?
1. Crypto currency is a digital asset. It is designed to work as a medium of exchanging ''value''. It uses cryptography to secure its value, to create additional units and to verify transactions.
I do not get the ''it is designed to work as a medium of exchanging ''value'' part. And what does ''uses cryptography to secure its value'' mean? What is the ''value here''?
2. Blockchain is a continously growing list of records called ''blocks''. They are linked and secured using cryptography. Each block contains all sorts of informations such as ''hash pointed'', which points to the previous block, timestamp and transactions data. Blockchains are inherently resistant to modification. It is also described as an open, distributed ledger that can record transactions between two parties in a verifiable and permanent way.
What does the ''securing transactions in a VERIFIABLE way mean? How is it be verified?
I do not see the meaning of this topic. You can find all the answers here on the forum or google.
Lol ... Have you ever heard of Google?
Dear Bitcoin talk community! I am a beginner and I would like to hear answers from you guys! 
1. What is a cryptocurrency?
2. What is a blockchain?
3. How Bitcoin works?
4. How to know which alternative crypto are worth investing in now?
5. How and where can I store 10+ crypto currencies safely, without frequent gadget updates, easy access to get on exchanges and trade.
6. Is it cheaper to buy Bitcoin on Coinbase or Localbitcoins or Gemini?
7. How can I cheaply sell cryptocurrency for cash?
8. Are there strict cryptocurrency buy/sell taxation laws in Europe?
9. Does cryptocurrency has a bright future?
10. Are we still at the early age of cryptocurrency adoption?
1. What is a cryptocurrency?
2. What is a blockchain?
3. How Bitcoin works?
4. How to know which alternative crypto are worth investing in now?
5. How and where can I store 10+ crypto currencies safely, without frequent gadget updates, easy access to get on exchanges and trade.
6. Is it cheaper to buy Bitcoin on Coinbase or Localbitcoins or Gemini?
7. How can I cheaply sell cryptocurrency for cash?
8. Are there strict cryptocurrency buy/sell taxation laws in Europe?
9. Does cryptocurrency has a bright future?
10. Are we still at the early age of cryptocurrency adoption?
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