BLOCKCHAIN

Question 1

What’s a bitcoin?

Answer 1

A new digital currency

Question 2

Is bitcoin backed by government?

Answer 2

No

Question 3

How long bitcoin has been there?

Answer 3

7 years

Question 4

Generally currencies are tied to?

Answer 4

Government.

Question 5

Current currency system depends on?

Answer 5

Depends on the banking infrastructure.

Question 6

who is the monopoly in the current currency system

Answer 6

Banks - they control the infrastructure

Question 7

Global system for digital payments

Answer 7

bitcoin

Question 8

Main theme

Answer 8

we cannot be dependent on a big entity or organization

Question 9

which is the complicated part in bitcoin?

Answer 9

deciding on the majority (conflict resolution) is the complicated part

Question 10

when did bitcoin start?

Answer 10

Jan 2009

Question 11

First product accepted bitcoin

Answer 11

Pizza (25000 bitcoin) which is worth 1.5 million dollars

Question 12

How much investors invested in bitcoin now

Answer 12

about 1.1 Billion dollars in bitcoin

Question 13

What are the investors doing in bitcoin

Answer 13

they are building services, wallet services, payment services, etc.

Question 14

what’s blockchain…

Answer 14

it’s a file, it grows in one direction, you cannot erase data from it, but you can only add data to it.

Question 15

Bitcoing exchanges?

Answer 15

convert bitcoin to dollars..

Question 16

what’s required to send bitcoing from A to B

Answer 16

Need B’s address and A needs to sign with a private key

Question 17

how are bitcoin’s transaction fees

Answer 17

they are very low

Question 18

who runs the bitcoin network

Answer 18

no single person or entity runs the bitcoin network