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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 451.79

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Jan 22 4:00 PM EST

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To: TobagoJack who wrote (165035)	11/11/2020 6:12:05 AM
From: Haim R. Branisteanu	Read Replies (1) of 219653

Re: Bitcoin and blockchain - two different animals completely. Blockchain is a form of accounting. To get it simple imagine that every item is barcoded with a specific barcode for the product you buy. You cannot use another product that is basically the same with the same barcode. Let say two breads one is taken out of the oven at 6:00.00 and the second at 6:00.01 - they have different barcodes. So the bakery has exact control over how much flower they used and how many breeds they produced. At the end of a defined period hour or 4 or day you close the balance sheet in a "block" that cannot be changed with all the information contained inside. (like back dating stock options in a case of "blockchain" would not be possible and imidiatly detected). It is done now to certain extent with "blood" diamonds to track the origins from which mine the diamond originated. There are other examples too. Bitcoins is just a form of a crypto currency which was designed to produce a "coin" after solving the complex maze of coins already in circulation and not to multiply them without control as the software has a maximum of bitcoins that can be issued. But still has only perceived value not real value. The price at the beginning was low as little electrical energy was used to issue a new bitcoin. On the other hand the blockchain accounting gives more control over the commercial activities of an entity, and "fictitious" transactions are easily detected in time. It can be applied to everything that is of transactional nature including building a dam - you will know exactly the amount of cement bought and the height of the dam - if it does not match something is wrong In regular accounting you can take a ton of cement home and resell it and claim that the dam needed more cement or it was washed out.

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