Topic: The essential attributes of Bitcoin:Bitcoin is a database. (Read 347 times)

Bitcoin is an alternative database for accounting. People can transact peer-to-peer without any intermediaries. Thereby saving costs and saving time for depositors and recipients. There are too many people using Bitcoin nowadays so it's not as fast as it was when it was invented.
Bitcoin has economic and computer science value as it eliminates intermediaries in transactions, the scarcity over time, and the limited supply that keeps Bitcoin prices up; The scientific value of Bitcoin is the first blockchain. Thanks to Bitcoin, new ideas and concepts about blockchain were born.

I didn't say “too much responsibility”, but rather just “responsibility”.

Nowadays, the average Joe thinks that he'll always be able to recover his money somehow. That there's something similar to a bank behind; a “support” service. He may haven't acknowledged that Bitcoin isn't owned by anyone except him. That's why he may choose to not write down the seed phrase. (We've seen this incident too many times)

He has to understand that even if he dislikes being self-sovereign and want to have a third party, the transactions are irreversible. If someone fooled him, he couldn't do something to get his money back.

I don't quite understand why some people give Bitcoin too much responsibility. Bitcoin has only 12 years of development, so why give it too much responsibility? Wikipedia is a database, all-inclusive. Bitcoin is Bitcoin. If you let me introduce it in one sentence, Bitcoin is a currency without borders, which is convenient and fast, and transfers quickly. As for the others, it is our desire to make it better. Or I am too realistic to see the future development space of Bitcoin.

A database is a data structure used to store information. Blockchain is actually a kind of database because it is a digital ledger and stores information on the data structure of the block.
Bitcoin is the first system based on the blockchain. In the Bitcoin system, the blockchain is an unchangeable digital ledger, and it is also a growing encrypted distributed database. It will store information in blocks of the same size. Each block will contain the hash information of the previous block, thereby providing encryption security.

Here, let me answer these questions. Perhaps my topic can be expressed more clearly: the essential attributes of the Bitcoin network, it is a distributed database. When I refer to Bitcoin, I am more often referring to the Bitcoin network itself, not just a single Bitcoin in our wallet. Because in my opinion, Bitcoin is a system, and this system consists of multiple parts. Together they form the Bitcoin network. And this network is composed of a distributed database constructed by multiple nodes. Every node has all the data in the Bitcoin ledger, and every node is equal. As stated in Satoshi Nakamoto's white paper, Bitcoin is a peer-to-peer electronic cash system. Ultimately it is a system. So, I mean, from a computer science point of view, this system belongs to a distributed database. Some people may say that this database is a function of the blockchain. However, in the Bitcoin network and Bitcoin's white paper, there has never been a concept of blockchain. The concept of blockchain technology was extracted from the Bitcoin system by later generations. Bitcoin itself is an electronic cash system, which is composed of distributed databases. This is my basic view on this.

Honestly, I get the constructive criticism around the subject. And, yes, I agree, OP could have been more clear in his writing but as an attempt itself to spread the knowledge of BTC (though I understand that on here might not be the right audience for his tone of writing) I think is something to credit him for.

At least, OP is sharing his knowledge in a way he can, and spreading awareness is something we should all get better at.

i doubt anyone, specially the older generation, understand what "securities on the New York Stock Exchange" is. and in comparison they will surely have a much harder time understanding bitcoin that way instead of simply saying it is "digital money".
maybe you understood the meaning of crypto-currency wrong yourself.

Your post is 936 words long. Nine hundred and thirty six. Do you believe that this encourages us to read it?

I'm not agreeing with your opinion. If someone ever asked me what's Bitcoin, I'd surely not respond with “It's a database". Rather I'd go with “It's an currency that operates only in the internet”. Then, I'd start being more detailed about it; I'd use common phrases like “no central point of failure”, “borderless”, “limited to 21 million”, “responsibility of money” etc.

Why did you choose that title?

I manage to convey the meaning of cryptocurrencies for the older generation only by comparing them with securities on the New York Stock Exchange

Digital currency is only a form of value information, which perfectly realizes the value transmission of the network.

The purpose of Bitcoin is to establish a decentralized electronic digital peer-to-peer (P2P) payment system to prevent the reuse of digital assets. Rather than a database, this has been explained in Satoshi Nakamoto's white paper. Bitcoin may, as you said,bitcoin use the collection and application of knowledge from multiple disciplines, but they are all for one purpose.

I don’t deny that as a decentralized data storage module, it is the underlying technology of blockchain , I don’t agree with this. Blockchain is not equal to Bitcoin.


Bitcoin realizes value transmission without relying on trusted intermediaries.


It can be analyzed from the following aspects

• The Bitcoin network maintains a single source of truth and a set of shared rules (consensus agreement) between legally independent entities. No one can tamper with, even for 51% attacks, because the cost of doing evil is very high.
  
• The Bitcoin network can be accessed from anywhere in the world. Its borderless nature is not restricted by capital controls. As a distributed network, it is not maintained by a central government. It can make transactions more convenient and anonymous.
  
• Bitcoin can resist censorship. The network has strong anti-attack capability. Moreover, the network is reliable.
  

The above content seems to have nothing to do with the database, I think the angle of the problem may not overlap with you, it is two parallel lines. But in turn, let's consider what is a database?

https://www.oracle.com/database/what-is-database/


My final point is that if Bitcoin is a database, it is somewhat far-fetched, I still respect Satoshi Nakamoto's explanation.

Although your text wall is very powerful, I don't agree with you. Bitcoin cannot be used as a database because the database stores data. When you need to retrieve data, you can retrieve data. The data can be taken out, and Bitcoin is hashed and encrypted. Can be queried, but data cannot be retrieved. So Bitcoin cannot be described by a database.

Thank you for pointing out the problems in my article, and I am trying my best to understand the suggestions you gave me. I am also trying to adapt to the rules and culture of this forum. Bitcoin is an independent database that may not be able to reflect the essential attributes of Bitcoin, and Bitcoin as a distributed database may reflect the characteristics of Bitcoin. I am writing these articles to explain my understanding of Bitcoin from different disciplines and different angles. I list these views separately because each article has its own unique logic. All have different causal relationships, so that people with different cognitive foundations can absorb this knowledge from different angles. Of course, there may be only a few people who have read them all patiently.


Thank you again for your suggestions, thank you very much,and I will further elaborate on my understanding. As you said, I can put the first four or five themes into one or two paragraphs, it will be very easy. So why do I use about 1,000 words or more in every article to explain my point of view? Writing so many words will consume a lot of time, energy, patience and perseverance. This is also a very big challenge for me. There are two main reasons for this. First, I think Bitcoin is a very great thing. It will represent a new civilization and it will transform all aspects of our human society. Most of the discussions on Bitcoin on the forum are currently limited to technical fields and currency applications. I rarely see deeper thinking and discussions. So I hope to explain my understanding of Bitcoin from different disciplines and fields. I hope to inspire more people through these articles of mine. The second point is that I need to record the process of my thinking and write down the logical relationships involved in each point of view. Just writing some conclusive text will be very simple. However, many people are not clear about the process of reaching this conclusion. How did you come to this conclusion? Why can you come to this conclusion? This is why I use a lot of words to describe the thinking process of each conclusion. I hope to inspire more people to think deeply with me. At the same time, I can also obtain more valuable information after your replies to further improve my knowledge system. Also, although I have used a lot of articles to illustrate my point of view. But if everyone reads each article carefully, you will find that the content of each article is different. Each piece of content has its own unique logical relationship and a corresponding reasoning relationship. These are more my philosophical reflections. There is still a certain difference between philosophical thinking and technical thinking. Technical thinking is more rational thinking, and every sentence must be very rigorous. Philosophical thinking is more open, and there is no standard answer.


Yes, Bitcoin has greatly changed our world. The fate of many of us has changed because of Bitcoin. I am also expounding my understanding of Bitcoin in different ways. I hope that more people can understand the changes to us from a higher perspective, thank you Satoshi Nakamoto.

The biggest attributed contribution of Bitcoin is Being a game-changer and changes the world.

Without Bitcoin appearance in 2009 and its contribution, we might not have the crypto market as big as nowadays (of course, it's still smaller than other markets) and the blockchain technology would have yet appeared or have yet achieved what it has now.

For technical aspects, I think we can skip them here. Simply said, Bitcoin changed the world, from individual to governmental, national aspects.

I didn't think or say any of these, all I'm saying is that you could have expressed your thoughts in a much shorter way. All you have said in the past 4 to 6 topics you have created could have been compressed into a single paragraph or two instead.

from a "scientific knowledge" / "computer science". your chosen category. its about precise terminology.
which would be ledgers.
heck no one minds if you try to ELI-5(explain like im 5) it into simple words.
but try not to flip flop and call it something else in another topic. but using the same technical prospective

otherwise all your posts just get ignored because you are just changing your own narrative at a whim.

computer science:
a database is too simple of a word to express scientifically what occurs in bitcoin. especially when it does not encapsulate the actual facility and function of the data

for instance the UTXO set. is a database. but the blockchain is a ledger.
the storage and editing/appending methods are completely different to each other

you cant edit the blockchain. hense not a database.
the lock and append and relational flow to new block is the special element that makes it a ledger and not a database

..
its ok to have separate versions of ELI-5 ELI-15 ELI-CS(compscientist) ELI-E(economist)
but to have 2 versions of ELI-CS calling it 2 different things. is where you went wrong

What I want to express here is that Bitcoin is a collection of scientific knowledge. From a computer science point of view, the entire Bitcoin network functions as a database. It is used to store various data, which is the basic property of Bitcoin. However, from an economic point of view, the data stored in the Bitcoin system exists in the form of accounting books, so Bitcoin is also a ledger. These are not contradictory, but different perspectives of understanding Bitcoin from different knowledge.


I understand what you want to express, and thank you for your reminder. You may feel that my article is meaningless, but I feel that my thinking is very valuable. When we recognize a new thing, we may think from different angles. One is from the superficial reason, some from the essential connotation, some from the functional point of view, some from the logical point of view, and so on. Because of our differences in knowledge, background, education, and experience, our understanding of different things must be different. I think about Bitcoin now, and I also learn from the perspective of different disciplines, because I think Bitcoin is a combination of multidisciplinary knowledge. From an accounting perspective, Bitcoin is a ledger. From an economic perspective, Bitcoin is a currency. So from the perspective of computer science, Bitcoin is a database. Few people can think deeply about Bitcoin from different disciplines, and more people just want to make money with Bitcoin. Maybe few people can patiently finish reading my text and think about it, but I believe they will still work for a small group of people, especially those who think deeply about Bitcoin.

Saying "bitcoin is a database" is like saying "an airplane is a collection of seats with seat-belts".

That is because you are rambling. Nobody reads big walls of texts with inconsequential content most of which don't have anything to do with the title specially when that title itself doesn't make any sense.

a database is a store of data
a ledger is a store of data in a 'carrying forward' method that shows changes from old to new

bitcoin is not just a store... its an accounting of the carrying forward. thus its a ledger not a database


databses replace old entries with new entries(old entries lost/forgotten/deleted)
ledgers create a new page/list/table/block of data to show the new changes and relationship to previous

Here, I will continue to explain my point of view. When Satoshi Nakamoto created Bitcoin, he did not propose a separate blockchain concept. The term blockchain does not appear in Bitcoin's white paper. What he described is a peer-to-peer electronic cash system. So, in my opinion, Bitcoin is a system that consists of different parts of the entire Bitcoin network. They constitute Bitcoin as a whole, rather than considering Bitcoin as an independent currency. On the basis of this view, I regard Bitcoin as a kind of database. This is my most basic view of Bitcoin. Blockchain is just a technology extracted from the foundation of Bitcoin technology after the later generations studied the technical principles of Bitcoin.


Thanks for your question. We may need a lot of words if we want to thoroughly explain this issue. Here, I try to explain my understanding as simply as possible. How did Bitcoin go from valueless to valuable. When Bitcoin was first born, few people knew Bitcoin, and even fewer people knew the technical principles of Bitcoin.
But when Bitcoin is getting more and more people's attention, its technical principles are constantly being studied. At the same time, the technical principles of Bitcoin have withstood various tests. No one can tamper with the data in the Bitcoin ledger, no one can steal the Bitcoin private key, etc. In this way, more and more people believe in Bitcoin. At this time Bitcoin begins to have value.

You need to differentiate between bitcoin and blockchain. What you mean by the database is the blockchain itself. It has been discussed many times though, so I suggest you research more about it. Saying that Bitcoin is a database is misleading imo.