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Tuesday, October 4, 2022

31 Monero | Blockchain & Cryptocurrency Essentials

Allow and it’s less than we are going to cover higher Manero defers to the all mighty Bitcoin. First of all the XM or the Tica for manera Bitcoin has a fair amount it hates Cetera et cetera et cetera X and or is the Manero Teeka don’t really mix that with S.O.P sometimes I do X Oppy is the to.

So I think you know that it is a retro current if you didn’t. You do now and you really should do this is within the section of other popular occurrences. So yeah it’s a popular cryptocurrency. And how is it different from current privacy? Enabled by default thinking what does that mean what one means by privacy is enabled by default.

Well, it has a traceable transaction and Nemat a baked right into the protocol they muffing you. Bitcoin is a decentralized distributed and there is a lot of anonymity within Bitcoin. Remember Bitcoin has this public ledger and in the public ledger, there are these addresses.

They don’t say oh it’s for any sign I send money to Bob Harris or Juarez’s and money to John Smith. No solace the way man. Now if it’s a really long address that’s doesn’t really mean anything. But again he does show the path of money which I think overall is a good thing.

I actually prefer that he shows the money because it provides an audit trail. But if you want to be completely anonymous Bitcoin does not allow you to do that because there are actually people and organizations that are doing blockchain analysis.

And what they’re doing is analyzing the aggressive and how the money is flowing and they’re able to with a high degree of accuracy. Basically, find out who that individual in all that organization is. So it’s not a mess or it’s a pseudo-anonymous.

And there are actual organizations right now that can figure out who a lot of those people actually are in the future when more computing power than when we get onto Putin Ill go from this decentralized distributed anonymous network to not being anonymous at all just like M.D 5 is in a secure hashing system.

You can just type in M.D five hash into Google and get the natural result you’ll probably be calmed down you can just type in the address into Google or any other search engine and you just provide you with the actual username or the actual name.

Why you address email address. So that is quite a downside to Bitcoin though yes this is irresponsible default untraceable transactions and an unlimited. But this isn’t without its problems as well because it can be fudged so either that because they can before it can be made to look like certain coins have gone to a certain region even though they haven’t because they don’t a proper audit trail easier because coins calmly blacklisted current hont be blacklisted.

We’ve been quite Queensmead blacklisted so they exchanged. No not today except them. Obviously, if you compare this to conventional currency money like most journalism we’re blacklisted so it can have its disadvantages especially when there’s a fine point no amount of supply.

Tony when you look at it that is Atlantis and its advantages. So this is more like conventional currency in terms of the processing are transactional. This is a big debate around certain cryptocurrency is it has. BLOCK time for track actions. Ten minutes. For Bitcoin. And can you guess how much it is from an era it is 20 now? You know slower.

It is Tumen for Nafa for Monera. So it had five times as fast block time transactions which is obviously good fast that the better end of a never great thing about manera is it can actually be Moine mind using standard C-p use and GAAP is basically got an algorithm that’s a sick resistance and a sick or special hods are generally used within Bitcoin.

Are specifically designed for the more effective than GP to which in turn more of it to you. And if you try mine because nowadays in 2017 and petting a future one regular can be to hard even high due to high-end computer hardware.

I saw those specific ethic race then you’re just not going to get anywhere it’s not profitable. It may take ages to verify transactions. Is just not very good. So this allows individuals to really get into the mining aspect. Another great aspect and this is one of the things that excites me is very scary know it’s very scalable and yet it does this scalability using dooring namak blocks voices.

So this was how this, in turn, will reduce or we could be no debates regarding Falken because this is a major issue within other countries but especially within the Bitcoin currency because it is getting to a point where it’s not scalable. The block has a certain side he’s been made to make now and can be higher as well using different technologies such as Feg segregated witness.

But at the end of the day that creates arguments and within the community and as a result, the debate they end up creating a hard fork which ultimately leads to a division of religion a division within the community. And that’s not good because a divided community ultimately will CYO more likely compared to a unified community.

So I think there are certain aspects of miner os are fantastic and that Bitcoin and cryptocurrency use as an advocate to look into and potentially combine all these to create the alternate cryptocurrency or cryptocurrency and the other ones because they surely could harm cryptocurrency the for an on and the Stratego should just be a smile. It’s a cryptocurrency that should be the cryptocurrency of the actually creates an ICAO this Dougall lesson.

Corinne, I see feel free to check that nothing I can do is just cover the market cap pricing. So what is the market cap the terrible rockstar the market cap for Bitcoin is one hundred and five billion dollars? Quite a lot. And the price per bitcoin Creighton’s media is six hundred three hundred fifty dollars. So how does more narrow stand up?

It is one point zero one point four trillion GOP 1.4 billion dollars and each Quane is ninety dollars so it is quite a bit less. But again in the long run we do not know what was coming. Bitcoin Inferi is narrow dash Ripl long coin or some other cryptocurrency that we haven’t even heard of. That doesn’t even exist yet.

Maybe all it can mean is a wholly different cryptocurrency to get together to create a consortium and create the ultimate cryptocurrency. And like I said it should be called the front on cryptocurrency so I think we should allocate the horn cryptocurrency seriously. This has been a lesson on the narrow how it differs to bitcoin.

Hope you enjoy this video. Pyung questions feel free to reach out of the video again if there is anything that you’re sure about. And as usual thanks for watching and I look forward to seeing you in my next lesson.

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