diff --git a/index.html b/index.html index 1924635..709f419 100644 --- a/index.html +++ b/index.html @@ -41,7 +41,7 @@
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Bitcoin was started on October 31, 2008. Open-sourced Jan 3, 2009. Creator pseudonym Satoshi Nakamoto. Technically not first cryptocurrency, DigiCash came in 1990. First decentralized virtual currency.
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How could we make
digital currency?

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+ +
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If I send you a file, I still have the file. Digital items can be duplicated; how can I send you something the way I do in the physical world? The Yapanese people had the right idea: use a ledger.
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Digital items can be duplicated; how can I send you something the way I do in the physical world? The Yapanese people had the right idea: use a ledger.
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We can use a ledger to keep track of how much money each person has. If I want to send money, we reduce my account and increase someone else's account. - This is similar to how Paypal works at a simple level. - Problems: - Everyone has to trust whoever maintains the ledger, since they can monitor it and change it.
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Ledger keeps track each person's money. + To send money, reduce my account and increase their account. + Like Paypal. + + BUT - requires trust
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Cryptography

+

Cryptography

We can use public and private keys to control balances in an anonymous ledger.
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Double Spending

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Real world, double spending is easy. + Two checks + First deposit "wins"
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Proof of Existence

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- -

How to Make It Real

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Payment Infrastructure

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  • Eric Guinther, English Wikipedia
  • Ishataure Dawn, Flickr
  • -
  • Velveteen Rabbit, Margery Williams 1922
  • +
  • Institute for Money, Technology and Financial Inclusion, Flickr
  • +
  • cheeseslave, Flickr
  • Emoji art supplied by EmojiOne
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