Bitcoin News
By Dan Saada
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Bitcoin (BTC) Trustless
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Bitcoin (BTC) Decentralized and Mining with Computing Power
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Bitcoin (BTC) and Financial Rewards
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Anthony Pompliano states, that this entire idea of Bitcoin is built on something that people refer to as trustless.
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And, what I mean is that when I send money to the bank, I am trusting that the bank has got to take my money, the bank should give it to the right person and the bank or the…
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Here, with Bitcoin Network, I don’t want to trust anybody to send BTC, I don’t have to trust any body’s bank to receive it and I can actually go and verify that the money was…
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And, so when you kind of go through this system, it is a kind of public transport system that is not owned but it is fully decentralized.
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And, so a lot of people will say okay, well how does that run and how does the transactions get processed, if you are processing transactions, you need some sort of computing…
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And what you mean by that is basically they have specialized computers that have very high computing power, and they run the Bitcoin software and process the transactions, and…
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How are they financially incentivized? Well, there is only 21 million Bitcoin and they are artificially supplied and there will never be anything more than 21 million Bitcoin.
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Sydney Ifergan, the crypto expert tweeted: “Good to understand decentralization, financial rewards in BTC mining and Trustless nature of Bitcoin Network the Pompliano way.”
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