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Bitcoin is a decentralised currency that is backed by energy that is harvested from traffic on the world wide web, or internet.Forwarded from And Hax
It was invented by Satoshi Nakamoto, a developer at Nintendo who mysteriously disappeared in the 1990s. The multiplayer mode in Goldeneye N64, on which he was lead developer, uses a primitive form of Bitcoin to keep track of high scores.Forwarded from And Hax
Today, Bitcoin harnesses energy from everyday web traffic and converts it into coin at a rate of about one block every ten minutes. the HTTP you sometimes in the browser address bar stands for "Hash To The Protocol". HTTPS is "Hash To The Protocol (Signed)".
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Hackers are constantly trying to guess the block passwords, or "sign" then. But it's very difficult because passwords must be at least 8 characters long and contain one symbol and one uppercase letter.
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Whenever a hacker guesses the password, that block is put onto the ledger, or "blockchain", which is an Excel spreadsheet where all the bitcoins are kept. No single user can control the spreadsheet because it is shareware.