on the bench that day. What does the public ledger enable? If you still can't figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you. We didn't need to pull in Uncle Tommy (who's a famous judge) to sit with us on the bench and confirm that the apple went from me to you. They're quite useful aren't they?
Maybe I made a couple of copies of that digital apple on my computer. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Or your friend Joe? Plus, it's not controlled by one person, so I know there's no one that can just decide to give himself more digital apples.
I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York. How should we treat or value these "digital apples"? It's now as good as seeing a physical apple leave my hand and drop into your pocket. It's there for smart people to maintain, secure, improve, and check. And those digital apples are the bitcoins within the system. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card So this is great! The Solution, what if we gave this ledger to everybody? 3) Because it's a public ledger, I didn't need Uncle Tommy (third-party) to make sure I didn't cheat, or make extra copies for myself, or send apples twice, or thrice Within the system, the exchange of a digital apple is now just like the exchange of a physical one.
I know the exact amount that exists. Some say the system is worth a lot; some say it's actually worth zero. 1) It's open source, remember?