I am taking UC Berkley's EDX course for bitcoin and cryptocurrency
finish by April 22nd 2019
Bitcoin Course Notes:
Bitcoin is a a digital decentralized currency built on principles of computer science, cryptography, and economics
The underlying data structure is blockchain
Came from the CyberPunk Movement :
A group of individuals who advocate for the protection of privacy using cryptography
The white paper for Bitcoin came in October of 2008 by Satoshi Nakamoto
It solved a solution for the Double Spend Attack
Makes use of The blockchain and the Consensus Protocol
Distributed Ledger +Consensus
My Break down:
In order for money to work:
We need to give a transferable value to the currency and we need to know
how much of the currency can exist without it being created out of thin air
The United States Dollar has a lot of value but with more recent adjustments
now seems to be created out of thin air through issuance of debt.
Bitcoin is a 3 part Computer Network that was initiated created through a program that is simultaneously being
run on a whole network of trustless machines through usership and competition.
The 3 parts of bitcoin include:
1.The blockchain
2.Bitcoin Consensus Protocol
3.Distributed Ledger technology
HW 1: Explain Bitcoin to your grandama:
Bitcoin is a deflationary currency that uses the 3 computer science principles of Blockchain, Bitcoin Consensus Protocol, and Decentralized ledger technology to create a digital currency that behaves similar to dollars in an online bank account. Each of the 3 principles takes care of an area of