Bitcoin - Transaction records
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- Опубліковано 4 жов 2024
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The basic mechanics of a bitcoin transaction between two parties and what is included within a given bitcoin transaction record.
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Video by Zulfikar Ramzan. Zulfikar Ramzan is a world-leading expert in computer security and cryptography and is currently the Chief Scientist at Sourcefire. He received his Ph.D. in computer science from MIT.
you're the only source now I can use to nderstand the bitcoin
Man those transaction fees are huge by today's numbers
The challenge that bitcoin tries to solve is inhibiting double spending while keeping the system decentralized. If a central entity were allowed and all transactions went through it, then the entity could check easily for double spending. Without a central entity in place through which transactions go through, you need a way to validate transactions that can't easily be gamed. The Proof-of-Work scheme mentioned in the Transaction Block Chain video is how bitcoin handles the issue.
Yes, but to a required reserve ratio. I guess my question is: how is the ratio enforced, and by whom?
thank you for the knowledge, newbie here and i found the vid to be most helpful. will continue with the series.
Excuse my newbie-ness, but does that mean we have a printed record of the transfer, so that if the vendor doesn't send along the goods, we can reverse the whole thing, as we would with, say, fraudulent credit card charges?
nice stuff. thanks.
Correct. The private key is, so to say, the representation of ownership. That's why you should keep it safe. :)
Thanks for video
What if Bob hadn't received a combination of inputs in the past that added to equal the change Alice wanted back? How would he send the right amount back if it's all or nothing?
:D exactly what i was looking for!
I was thinking to myself - wow, what a high level of complexity to insure the validity, prevent double spending, etc. There must be an easier way. I'm thinking, hm... the dollar is mostly a digital currency, how do we prevent double spending there? Then I was thinking, hm.. we really don't prevent it - they're printed up like crazy and there is no ceiling or audit of the FED... but seriously - how do we prevent banks from double loaning money? Is it all really audited by some central authority?
Banks double loan money. Say you have $1k in your bank and give me $500. Your bank is loaning Bob 450 from the money you have in the bank... I put the 500 you gave me in my bank... They loan 450 to sally.... Mind you, Bob and sally take the 450 and put in their bank (bank 3 and 4). Those banks then loan to others $400... And so it goes... 1k turns into 100k or something like that
@@l0gic23 you don’t understand how money works 😂
So one can basically steal someone elses money if one is able to get their private signature key? Two more videos to go (::
Yes
I agree with Mr Anonymous; whereas most KA videos are easy to follow the series of bitcoin videos is not. The major flaw is that the author speaks in generalities without illustration by example.
what is importance of Alice sending previous transaction (Dc,Dd,Dt) what if Alice manipulates this digest and send. who verify this.how.why can't miners determine this from longest transaction block directly.
Do you know Silk road and black market reloaded?
i could not help but notice that the b in bob looks like the Barbie logo
Trails in tax filings perhaps?
Regulatory bodies.
Exactly what I'm thinking ... why does Alic want a change back ?
Alice has to specify what happens to ALL the coins in the addresses she uses. Whatever coins are not specified end up going to the miners as transaction fees.
By Khan Academy standards, these Bitcoin videos are a disappointment. They're not easy to follow and the ordering doesn't make sense. Why not start with crypto fundamentals instead of ending with them? Frankly, the Satoshi whitepaper is easier to follow.
Hmmm I actually found these to be the best out of all of the ones that I looked at. Maybe its because I looked at so many before hand, then Khan Academy organized everything in my mind well
I still don't know how I get a bill of sale from the recipient of the Bitcoins so that I can prove I paid for something.
This would seem to be a no-brainer, yet no one seems to address this obvious question.