What percentage of biz actually understands what a blockchain is?

i dunno something like a botnet but for bitcoin transferring

based off all of the "OMG BUBBLE POPPING", im guessing under 5%

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the keys to my new lambo

>>2210330
who cares

>>2210341
/thread

>>2210330
It's a digital ledger. Wow that was hard.

>>2210363
You mean like an excel file?

>>2210330
Newcoiner here, if someone can break the blockchain down for me, retard style, I would appreciate it a lot. Thanks.

>>2210376
>>2210408
>https://blockgeeks.com/guides/what-is-blockchain-technology/
Literally two seconds in Google come on guys. Also read the book the Age of Cryptocurrency if you really want to understand the history/tech of it all.

it's literally a text file full of transactions

Jew A gave 5 shekels to Jew B
Good goy mined off his 0.05 shekels but the block was bad :(

etc etc

>>2210433
and that is its flaw

blockchain is doomed to grow indefinitely, infinitely. no home node will be able to support it in the future, and the entire network will have to rely on supernodes controlled by just a few. it's happened already with mining. it was supposed to be a distributed effort, but mining farms are the ones controlling the flow

>>2210458
I actually agree, I think making the size of the blockchain file smaller is one of the big hurdles to getting a cryptocurrency widely adopted as a method of payment.

Obviously digital wallets solve this by having a server host the blockchain file and a bunch of different wallets share it, but that adds its own set of problems (security, trust, centralization, etc)

>>2210458
>blockchain is doomed to grow indefinitely, infinitely
Computing power and internet bandwidth will scale with it. 10 years from now, GPU power will be measured in PFLOPS and residential terabit internet connections will be the norm.

>>2210617
Or we will use our screen to log into Google's quantum computer.

>>2210418
>Age of Cryptocurrency
can you recommend any intermediate-level reads for someone who has a general understanding of blockchains, mining/mining pools (mined for awhile) etc? Maybe what I'm looking for is more technical, but I'm honestly not sure what I should be asking, really, just something beyond entry level that would give a deeper understanding of important concepts

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>>2210630
>PCs considered outdated
>all computing done "in the cloud"

>>2210617
You know Moore's law is pretty much dead, right? Producing transistors smaller than 5-7 nm is expensive beyond the point of diminishing returns.

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>>2210330
does it matter?

buy high sell low

>>2210617
still, anon. my point stand. something that grows infinitely simply can't get contained.

if i had the resources to work toward this, i would make my own protocol, with booze and hookers. in my view the blockchain must morph into a finite size, it could be 1 years worth of transactions, 5 or 10 years it doesn't matter, but limited to let's say 1TB, where new transactions bump off the oldest ones.

almost like a chan where new threads kill old threads, or like a line of tnt powder in the movies that burns in the back while the guy keeps pouring it at the front.

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>>2210330

>>2210668
>but limited to let's say 1TB, where new transactions bump off the oldest ones.
Enjoy scammers trying to overload the system with transactions. Especially with bitcoins which doesn't use gas.

>>2210668
https://en.wikipedia.org/wiki/Queue_(abstract_data_type)

I'm sure there's ways to abuse the "bumping off" of old transactions, though. Unless you have a way to compress a timespan of legacy transactions into a single, verifiable checksum.

It's a chain...of blocks
New blocks are created all the time.

Does it matter? Millions of people don't know how Google tech algorithm works yet they invest. You invest in a product or company, not the technology...

Elitist scum thinking only 1% of blockchain PhD's can profit.

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>>2210668
Why would you want to limit it to something that small? Sure, you might think 1TB is a large amount of data right now, but in a few years it will be laughably small.

>>2210709
PageRank isn't that complicated dude

>>2210716
>algorithm millions of people have day job on with seo
>this anon thinks its Pythagoras

gtfo

>>2210330
Me. Ama

>>2210336
This is pretty close to true. It's a voluntary botnet that does uses cryptography to make checking if a transaction happened easy. It's just a distributed database. It's extremely inefficient but very scalable.