My understanding of blockchain:
Ledger which store all of Bitcoin transactions, which is open and free to everyone all the time just with access to the Internet.
Topic: Describe the blockchain in one sentence - page 6. (Read 4493 times)
I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
Bitcoin infrastructure?
An impenetrable bunker open to anyone that wants to freely trade in the middle of the financial doomsday.
I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
A transparent secure network which allows trade without the need for government or central bank.
The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion).I have been use it for a year without any problem.
I'd say it is a transparent and secure public ledger.
As for me: Blockchain is just database of all bitcoin transactions.
Yes of course but do you know that you can save data (img, txt file, etc..) on a blockchain using the OP_return? So it is not only a database for save bitcoin transaction, but it is more than that thing
. The usage of blockchain in the next few years will improve... 
There are opinions claiming that block chain is not secure as we may think, and in fact is quite vulnerable to attacks. You may want to check that here: https://bitcointalksearch.org/topic/kaspersky-and-interpol-say-blockchain-is-vulnerable-1021233
https://bitcointalksearch.org/topic/m.11055777
The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion).I have been use it for a year without any problem.
I'd say it is a transparent and secure public ledger.
As for me: Blockchain is just database of all bitcoin transactions.
The ultimate dream for transaction of value.
The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion).I have been use it for a year without any problem.
I'd say it is a transparent and secure public ledger.
secured network,public ledger
The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
I have been use it for a year without any problem.
The title "asking" Describe the blockchain in one sentence , not the web wallet blockchain.info (aks BC.info). I have seen a lot of people are confusing the word blockchain (block chain) with that webwallet (not real good, but this is my personal opinion).
The best and simple online wallet that I've ever meet.
I have been use it for a year without any problem.
I have been use it for a year without any problem.
A database that anyone can use to see any bitcoin transaction.
that makes it easy for people to understand.
that makes it easy for people to understand.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Ponzi 
I know there was one altcoin (was it Vericoin?)which had a lot of coins stolen from an exchange and the exchanges and miners got together and rolled back the blockchain so that the thief lost their coins.
Presumably that is possible with Bitcoin?
Presumably that is possible with Bitcoin?
That would require collusion of everyone running a copy of the blockchain to suddenly switch to a new one AND for miners to actually mine on it. I don't see any conceivable way people would support a hard fork like that, look at the controversy over Gavin's idea to merely increase the block size as an example of how hard it is to convince people to make a single development change.
thats why some altcoins are worthless any altering of the blockchain is forbidden, whats needed is coinbase type insurance products to help protect from theft
The solution of the epic bizantine general problem.
For people familiar with computer science and/or mathematics, I've actually used this as a description. We can say that the blockchain is a 6 year old experiment that verifies a proof-of-work chain is a sufficient solution to the Byzantine Generals' Problem.
I get asked alot about bitcoin and how the blockchain works by friends and family who are interested and I can never give a straight answer.
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
What do you guys tell your friends and how would you describe the blockchain in one sentence/paragraph?
Tom
It is a public ledger that records all the transactions of Bitcoin. It is public and keeps the movement of Bitcoin as transparent as possible.
The BTClockchain(tm), it puts the bank in YOUR pocket! 
Decentralized secure consistent data storage
The cloud-based database which automatically records all BTC transactions and keeps them forever for everyone to see.
The idea of "automatic recording" is important to me, because sometimes, you wish you'd be able to make unrecorded transactions.
The idea of "automatic recording" is important to me, because sometimes, you wish you'd be able to make unrecorded transactions.
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