In This Episode: Bitcoins – Enthusuastic Tech Take on Crypto Currency
This week the TEH Podcast is hosted by Leo Notenboom, the “Chief Question Answerer” at Ask Leo!, and Gary Rosenzweig, the host and producer of MacMost, and mobile game developer at Clever Media.
(You’ll find longer Bios on the Hosts page.)
Top Stories
- Leo: Blockchain, Bitcoin, and NFTs
- NFT: Non Refundable Tokin (mentioned on CNBC)
- A block chain is… a chain of blocks 🙂
- No country, and no company, no individual, controls Bitcoin — it’s all encoded in the algorithms.
- Can it be hacked?
- Cryptographic hash
- https://askleo.com/how-does-bitcoin-mining-work/
- Think of it as gaming theory
- 51% attack
- Gary: It doesn’t seem like 51% would be that hard to get. For $1,000, no. But for $1 billion?
- Visible: Anyone can examine blocks at any time
- Ledger: Simply an entry of what happened. Tracks what happens with every transaction.
- Crypto Currency is an agreement of transactions.
- Different currencies are on different block chains
- Is it private? Can you retrieve a lost account?
- Gary’s sad story.
- Currency: Can you spend Bitcoin?
- NFT: Non Fungible Token
- https://en.wikipedia.org/wiki/Fungibility
- The Mona Lisa example: All copies are copies, different and inferior in some way.
- A cryptographically “signed”, unique ledger entry relating to a digital asset.
- “Nyan Cat” – selling the original. Was simply an entry in a ledger of who owns it.
- Simply an agreement of what’s true.
- Resources:
- https://demoblockchain.org – blockchain demo tool
- https://btc.com/ – blockchain explorer
- https://www.blockchain.com/explorer – includes some other blockchains
- https://www.udemy.com/share/101WSG/ – Udemy course “Blockchain and Bitcoin Fundamentals”