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Please explain Bitcoin to me

55 replies

DonkeysNotDisney · 28/05/2021 13:58

I've googled it before anyone posts that helpful suggestion, however all the articles, even the one from the BBC, seem to expect some level of pre knowledge.

I don't understand it, they use words like mine, but mine what, why do they need so many computers, how do you plug in computers (or hijack them) and make something that has value irl, and how do you make it have value irl.

Please if someone could explain in the most basic sense I would really appreciate it. The level I'm looking for is along the lines of Poppy and Sam in the Osborne books, bitcoin for dummies is probably too advanced.

OP posts:
FixTheBone · 30/05/2021 17:43

@CarlaH

Who wrote the formula?
Satoshi Nakamoto.

He was anonymous for many many years.

DGRossetti · 30/05/2021 17:48

Satoshi Nakamoto ...He was anonymous for many many years.

And still is Grin

Anyone else read that and thing of the Nakatomi Plaza ?

Bunniet · 19/02/2022 07:57

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Quantity5 · 19/02/2022 08:01

Ultimately it’s linked to financing many unethical and illegal activities and is environmentally unfriendly. Ethics as a cover for incomprehension?

DGRossetti · 19/02/2022 16:37

A blast from the past !

TL;DR, the problem most people have understanding cryptocurrencies is the "Currency" bit, not the crypto ...

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