Topic: short guide to cryptocurrency The language of Bitcoin (Read 771 times)

i know, i laughed ssooo much.

EG
Multisig; an address which allows multiple parties access to a single wallet.
translated properly:
Multisig: an address with multiple access keys, which can be used to make funds more secure by requiring multiple people to authorize a transaction

firstly.. a wallet is basically a notepad, used as a database or password storage.. a wallet is not the key itself!
secondly.. a single privkey can also allow access by multiple people.. just tell everyone your privkey.

EG
PRIVATE KEY: an alpha-numberic string, kept secret by the owner, which unlocks a corresponding bitcoin wallet.
translated properly:
PRIVATE KEY: a lengthy letter-number combination access key, intended to be kept secret by the holder, which allows access to the corresponding public bitcoin address

firstly.. if your going to take waffle away "alpha-numeric string" to keep it as basic laymans as possible (afterall that's the point).
secondly.. wallet again is nothing to do with the 'pub/priv keypair'

EG
AML/KYC: ....... are standards of operation enforced over bitcoin companies by verious governments.
translated properly:
AML/KYC: ....... are standards of operation enforced over any company handling any FIAT currency exchange, and regulated by the various governments in which the business operates.

firstly.. AML/KYC are only required by the fiat <-> other currency businesses.
secondly.. vErious?

EG
FIAT CURRENCY: government backed only by the faith of those who use it
translated properly
FIAT CURRENCY: government backed, insured and taxed and part of minimum wage laws, such as dollar euro, pound.

firstly.. the taxing of, and the lawful requirements of minimal pay measurement. makes the value.
secondly.. there is no faith in it. but most think there is no choice

This is a rather worthless infographic.

It's got misleading information, and information that's just plain wrong.  I definitely wouldn't share it with anyone.

How important is it to mention mining anymore?

New people can get confused by it and it is never possible for them anymore anyway.

various governments

Nice Graphic, they are always helpful in getting info lol.
This one has a simple enough explanation of the terms people might debate the terminology a bit here and there.
Thanks for sharing he-he but its still fun to be sarcastic

epic fail in the first sentance.

blockchain currency not crypto..

The infographic is about bitcoin not forum/website.  yes i agree btctalk is the biggest forum in bitcoin world but it doesn't fit in this infographic.

Yes, I completely agree with this! This should be changed or altered. We don't need to put ourselves to the same level and using the same reasoning as Fiat people are using towards us!

Nevertheless, this is very nicely done! I will be sharing it!

Very nice, thanks! But I think the definition the FIAT CURRENCY is a bit biased. The opponents of Bitcoin are saying exactly the same thing about our beloved cryptocurrency.  We don't want to be like them, right? )

Nice brochure. How will mining work when there will be no blocks left? Will they mine for transaction fees? will they increase?

And what about how to speak "what is it bitcoin?" Itself Easily.
Always hard to explain what actually bitcoin it is.
Have we explain like " bitcoin is crypto currency that use sha-256 algorithm" damn opening google browser i did it in an hours.

agreed, you took the words out my mouth then I saw this
"Warning - while you were reading a new reply has been posted. You may wish to review your post."
damn you lol

difficulty is missed for mining, i think it can be done greater if you divide it by categories with sub-info

like mining(what it is) then sub info for this would be , hash rate and difficulty, etc....

Nice infographic, although I think the order is not really perfect.

It seems that the chronological order is from top to bottom, however, multisig is the second thing you see.

I would've put wallet and confirmation higher, and also put mining above hash rate.

Other than that, nice