In This Episode: Bitcoins – Enthusuastic Tech Take on Crypto Currency
(You’ll find longer Bios on the Hosts page.)
- 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
- 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
- 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.