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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
Bitcoin and Cryptography vs. Dollar Hegemony and Fractional Reserve Banking
A few months ago, I mentioned I was in the process of writing an International Relations dissertation regarding the contest that Bitcoin provides to Dollar Hegemony and the Fractional Reserve Banking system. My findings are too important not to share: http://jhb91.wordpress.com/bit-by-bit-how-bitcoin-and-cryptography-provides-a-counter-hegemonic-alternative-to-dollar-hegemony-and-its-federal-reserve-mechanism-a-neo-gramscian-analysis/ The Bitcoin community has been immeasurably helpful in ensuring its completion, and making it the most comprehensive assessment of the crypto-currencies ability to radically transform our financial system and the political/banking powers that be. Please note that this is not an economic appraisal of how Bitcoin will benefit its holders financially. It investigates how the decentralized, debt-free, internet currency intrudes on the power structure of an ailing political elite, who dogmatically insist on maintaining their self-serving programme of economic recovery - while our social system crumbles as a result. In order to best understand the theory used, I direct the reader to Antonio Gramsci’s theories on Hegemony - http://en.wikipedia.org/wiki/Antonio_Gramsci I will, briefly, explain Bitcoin’s counter-hegemonic potential (C-H = an alternative ethical view of society that poses a challenge to the dominant power structure). The cryptographic method removes the need for a ‘trusted 3rd party’ (your bank), with incorruptible and instantaneous transactions. Bitcoin has shown the fractional reserve banking system to be obsolete at the dawn of the 21st Century. And we, fellow Bitcoin enthusiasts, have invested time, effort and whatever fiat currency we can spare, in tomorrows money. So please get comfortable, pour yourself a cuppa, and engage with the most comprehensive appraisal of the Bitcoin phenomena there is (I should know, I had to sieve through the gold and the shit alike). Much love and solidarity, Hamez P.S. And f course, I accept Bitcoin - every little helps a debt-laden, post-grad Edit: Cheers guys for the feed back, this is the first time I have been able to get a response from people who are not absolutely clueless about Bitcoin. I hope it helps with whatever situation you find yourself in, and indeed, you find solace in this joke of an economy we have the displeasure of working within. Please distribute as you see fit.
Bitcoin and Cryptography vs. Dollar Hegemony and Fractional Reserve Banking
Greetings, Bitcoin Community. I'm currently a week away from handing in my 7,000 word International Relations dissertation titled - Bit by Bit: How Bitcoin and Cryptography provides a Counter-Hegemonic alternative to Dollar Hegemony and Fractional Reserve Banking, a Neo-Gramscian analysis. Through the Gramscian understanding of hegemony, i feel I have provided a half-decent thesis of what the implications of this new and exciting phenomena can provide. The community has been extremely helpful in informing my dissertation thus far, though i do have a request. So vast is the information on the internet, and so quickly is new information arising about Bitcoin, that i simply can't go through it all myself. So I ask if anyone has any good sources related to: What were the factors involved in crash in april? What caused it's spike? And why was the drop so significant? How was the cyprus crisis a factor? Where in the world has it been taken to heart and used? Who gains and who loses from its existence? Anything you deem important in a comprehensive analysis of Bitcoin and Cryptography. 'Legitimate' sources are preferred (whatever the fuck that means). As gratitude for your help, and a burgeoning desire of mine to see what the internet makes of my findings, I will post my dissertation here, once it has been marked. I reiterate that this thesis will be of great interest to the Bitcoin community, and the wider debate emerging on how to survive the contradictions of our current financial system. For a greater understanding of the theory I use, I direct you to Antonio Gramsci - http://en.wikipedia.org/wiki/Antonio_Gramsci Imprisoned for his ideas in fascist Italy, he set about understanding the nature of power and hegemony that had removed his freedom. I believe his writings are more prevalent than ever. Much love and solidarity.
Signatures in Bitcoin. In many ways, this is the traditional cryptography in Bitcoin. We ask the question, “How do we know that Alice was authorized to transfer 100 Bitcoins to Bob,” and anyone who has used public-key cryptography knows the answer is, “Alice signs the transaction with her private key and publishes this signature for the Bitcoin network to verify with her public key.” Bitcoin uses public-key cryptography, in which two cryptographic keys, one public and one private, are generated. At its most basic, a wallet is a collection of these keys. If you are holding a certain amount of bitcoin in your wallet, they are simply the collection of these keys which are cryptographic itself by the blockchain. The Ethereum Blockchain Cryptography . Ethereum is very similar ... Bitcoin uses Elliptic Curve Cryptography to create a public and private key pair. I will cover the details of how this works in a later post, but for now all we need to know is that Bitcoin uses an eliptic curve called secp256k1 to create a public key from a private key which have the properties of asymmetric cryptography outlined earlier. To use this eliptic curve in C, we will be using the ... In closing, public and private key pairs are a fundamental tool in cryptography that have many uses. In Bitcoin, the use is to confirm ownership and create a large pool of addresses available for use. Remember, because of the large number of keys, it is safe to assume that any key I generate is mine and only mine. Thus, the Bitcoin system requires no further proof of ownership. Otherwise, in ... Cryptography. There are several cryptographic technologies that make up the essence of Bitcoin. First is public key cryptography.Each coin is associated with its current owner's public ECDSA key. When you send some bitcoins to someone, you create a message (transaction), attaching the new owner's public key to this amount of coins, and sign it with your private key.
This video describes the inner-workings of Bitcoin. It provides three different versions, to highlight the drawbacks of each version and then presents the solutions given by Bitcoin. The last ... Learn the properties of hashing algorithms, which algorithms are used in Bitcoin, and how hashes help secure cryptocurrency networks. Whether or not it's worth investing in, the math behind Bitcoin is an elegant solution to some complex problems. Hosted by: Michael Aranda Special Thanks: Da... We recorded a presentation we gave to our class on the Cryptography Behind Bitcoin and shared it with you all! The Cryptography Behind Bitcoin - Duration: 29:28. CSBreakdown 22,845 views. 29:28. Pomp Podcast #251: Mark Yusko on How we got to QE Infinity from the Fed - Duration: 1:06:39. ...