Post by Daniel on Jan 18, 2018 10:17:55 GMT -5
Preparing The Way For The Mark Of The Beast? Bitcoin & Bible Prophecy
By Britt Gillette
January 18, 2018
2017 ended with Bitcoin making daily headlines. If you're not familiar with Bitcoin, it's a specific type of cryptocurrency (a secure digital currency). It made daily headlines mostly due to the mania surrounding its steep rise in price.
Why are so many people euphoric about Bitcoin? Many think it will replace the U.S. dollar. They say it's the future of money. Others say Bitcoin is worthless, and its price run-up is a bubble certain to burst. So which one is it? Is Bitcoin the future or a passing fad? I don't know. Time will tell.
However, I do know this. Cryptocurrencies and electronic transactions will dominate the future. And many believe the technology behind Bitcoin will be the reason that happens. So what is this technology? It's called blockchain, and many believe it's the future of financial transactions.
Blockchain Transactions
So what is blockchain? In simple terms, blockchain is a growing online record. Here's a simplified example. Let's say Citizen A agrees to buy a product from Citizen B using Bitcoin. When he does, the blockchain records the transfer of the Bitcoin from Citizen A to Citizen B.
When Citizen B eventually buys something using the Bitcoin, his transaction is added to the existing record. This goes on and on forever, generating a record of every transaction in the life of a specific Bitcoin. If this is all blockchain did, it wouldn't be revolutionary. But a second component makes blockchain groundbreaking.
Unlike other electronic transactions, blockchain records are public. They don't exist in a centralized location such as a commercial bank or the U.S. Federal Reserve. Instead, they're stored over a large decentralized network. This means blockchain records are on computers all over the world.
And this makes cryptocurrency counterfeiting almost impossible since altering any past records requires widespread collusion across the entire network.
more
www.prophecynewswatch.com/article.cfm?recent_news_id=1939
By Britt Gillette
January 18, 2018
2017 ended with Bitcoin making daily headlines. If you're not familiar with Bitcoin, it's a specific type of cryptocurrency (a secure digital currency). It made daily headlines mostly due to the mania surrounding its steep rise in price.
Why are so many people euphoric about Bitcoin? Many think it will replace the U.S. dollar. They say it's the future of money. Others say Bitcoin is worthless, and its price run-up is a bubble certain to burst. So which one is it? Is Bitcoin the future or a passing fad? I don't know. Time will tell.
However, I do know this. Cryptocurrencies and electronic transactions will dominate the future. And many believe the technology behind Bitcoin will be the reason that happens. So what is this technology? It's called blockchain, and many believe it's the future of financial transactions.
Blockchain Transactions
So what is blockchain? In simple terms, blockchain is a growing online record. Here's a simplified example. Let's say Citizen A agrees to buy a product from Citizen B using Bitcoin. When he does, the blockchain records the transfer of the Bitcoin from Citizen A to Citizen B.
When Citizen B eventually buys something using the Bitcoin, his transaction is added to the existing record. This goes on and on forever, generating a record of every transaction in the life of a specific Bitcoin. If this is all blockchain did, it wouldn't be revolutionary. But a second component makes blockchain groundbreaking.
Unlike other electronic transactions, blockchain records are public. They don't exist in a centralized location such as a commercial bank or the U.S. Federal Reserve. Instead, they're stored over a large decentralized network. This means blockchain records are on computers all over the world.
And this makes cryptocurrency counterfeiting almost impossible since altering any past records requires widespread collusion across the entire network.
more
www.prophecynewswatch.com/article.cfm?recent_news_id=1939
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