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Topic: Wow. Stanford University publishes excelent description of the bitcoin network (Read 1198 times)

legendary
Activity: 2674
Merit: 3000
Terminated.
It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter  Undecided
Should, doesn't mean they will. Look at MIT.
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

I don't think most of them WANT TO understand bitcoin. They're invested in the current old, outdated system. And if they don't want to change, the world will change without them.
I agree with that explanation, plus consider that most of them have no idea about how pc and internet works, probably they are barely able to write an article and clic "save", they are still scared at "omg it ask me to choose between .txt .doc and other, help help!"
newbie
Activity: 1
Merit: 0
sr. member
Activity: 280
Merit: 250
Knowledge is Power
The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.

I don't think most of them WANT TO understand bitcoin. They're invested in the current old, outdated system. And if they don't want to change, the world will change without them.
sr. member
Activity: 356
Merit: 250
Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter  Undecided

That's why you just tell the average person it's just 'internet money' and much better than their crappy 'bank money'
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
The shocking part is how many economic experts get bitcoin soooooo wrong. These people seem to have read Satoshi's white paper before opening their mouths.
sr. member
Activity: 280
Merit: 250
Knowledge is Power
It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network

Yeah but they're a high level educational institution. They SHOULD get it. Transmitting this to your average person is a different matter  Undecided
sr. member
Activity: 356
Merit: 250
Will give this a good thorough reading through shortly but seems like a pretty good explanation.
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
It seems they finally understood it, it took some years but finally it is a good description, it makes sense and it grasps the concepts of the bitcoin network
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
legendary
Activity: 2674
Merit: 3000
Terminated.
A good read, thanks for the share.
hero member
Activity: 1372
Merit: 783
better everyday ♥
Very good read and great article to link to for people new to Bitcoin.  I like how they break each concept down, and make easy to understand analogies to PayPal for instance.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
I thought they did a great job of explaining the ledger based system.

http://news.stanford.edu/news/2014/february/bitcoin-athey-srinivasan-021814.html

A SAMPLE:
"Athey: The Bitcoin system has at its core a secure public ledger. An entry on the ledger is not an IOU from a bank, like your bank account balance is. Rather, the ledger entry is the definition of ownership of a bitcoin. Within the Bitcoin protocol, one individual can send bitcoins to another without any middlemen or risk … that is a very powerful concept."
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