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Writer's pictureFahad H

Bitcoin Q&A: Medium of trade, unit of account, and reserve foreign money

How do you identify the worth of a wage in bitcoin? Does bitcoin work higher as a medium of trade or unit of account? Is bitcoin a reserve foreign money for different cryptocurrencies, as gold was for fiat?

These questions are from the August and September month-to-month subscriber periods, which came about on August 24th and September 27th 2019, respectively.

RELATED: Measuring Success: Price or Principle – https://youtu.be/mPMsbgWl9p4 Beyond Price: Bitcoin’s Impact on the Future – https://youtu.be/rvwVbRQ5Ysc Consensus Algorithms, Blockchain Technology, and Bitcoin – https://youtu.be/fw3WkySh_Ho Advanced Bitcoin Scripting Part 1: Transactions and Multisig – https://youtu.be/8FeAXjkmDcQ Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware – https://youtu.be/pQbeBduVQ4I What is Consensus: Rules with out Rulers – https://youtu.be/2tqo7PX5Pyc Forkology: A Study of Forks for Newbies – https://youtu.be/rpeceXY1QBM Bitcoin: Where the Laws of Mathematics Prevail – https://youtu.be/HaJ1hvon0E0 Software distribution safety – https://youtu.be/_V0vqy046YM What is mining? – https://youtu.be/t4p4iMqmxbQ The mining course of – https://youtu.be/L4Xtau0YMJw Nonces, mining, and quantum computing – https://youtu.be/d4xXJh677J0 Iterating nonces and the block reward – https://youtu.be/tjn2aoMaFlY Miners, swimming pools, and consensus – https://youtu.be/JHz7LM4ncLw Mining, power costs, and charge market – https://youtu.be/hrVCd6Pt4l4 What is issue focusing on? – https://youtu.be/h429LCTRmQw Genesis block and coinbase transactions – https://youtu.be/strhfzJ56QE Cryptographic primitives – https://youtu.be/RIckQ6RBt5E The guidelines of Bitcoin (half 1) – https://youtu.be/VnQu4uylfOs The guidelines of Bitcoin (half 2) – https://youtu.be/vtIp0GP4w1E Rules versus rulers – https://youtu.be/9EEluhC9SxE The worth of proof-of-work – https://youtu.be/ZDGliHwstM8 Could a state-sponsored 51% assault work? – https://youtu.be/KUd8ZGgm6Qo Honest nodes and consensus – https://youtu.be/KAhY2ymI-tg Spam transactions and Child Pays For Parent (CPFP) – https://youtu.be/t3c0E4fkSNs Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g Governments versus Proof-of-Work or Proof-of-Stake – https://youtu.be/qrwgYDAoZV0 Decentralized energy, leaderless governance – https://youtu.be/E5VbDlQTPzU What is the function of nodes? – https://youtu.be/fNk7nYxTOyQ Why working a node is vital – https://youtu.be/oX0Yrv-6jVs Spam transactions and Child Pays For Parent (CPFP) – https://youtu.be/t3c0E4fkSNs Energy consumption – https://youtu.be/2T0OUIW89II Solar power and mining in area – https://youtu.be/cusakcpa8AM Bitmain and ASICBoost allegations – https://youtu.be/t6jJDD2Aj8k Binance hack, chain rollback? – https://youtu.be/2cZhkV6BqLg Block reward, reorg safety, and immutability – https://youtu.be/R6KMp6vkeVU

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has grow to be one of the well-known and revered figures in Bitcoin. He is the creator of “Mastering Bitcoin,” “The Internet of Money” series, and “Mastering Ethereum.”

Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/

Subscribe to the channel to be taught extra about Bitcoin & open blockchains; click on on the crimson bell to allow notifications about new movies!

MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ

Translations of THE INTERNET OF MONEY: Spanish, ‘Internet del Dinero’ (v1) – https://amzn.to/2yoaTTq German, ‘Das Internet des Geldes’ (v1) – https://amzn.to/2LEiyqO German, ‘Das Internet des Geldes’ (v2) – https://amzn.to/2VCzse5 French, ‘L’internet de l’argent’ (v1) – https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390 Russian, ‘???????? ?????’ (v1) – https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg Vietnamese, ‘Internet C?a Ti?n T?’ (v1) – https://alphabooks.vn/khi-tien-len-mang

MASTERING ETHEREUM: https://amzn.to/2xdxmlK

Music: “Unbounded” by Orfan (https://twitter.com/grassfedbitcoin) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)


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