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<p>[QUOTE="John Burgess, post: 7415544, member: 105098"]And as I understand it, it's all really Satoshis (and by satoshis I mean blocks of information chained together) on a blockchain ledger out there on the global internet, uniquely identified, and a transaction involves the information tied to the satoshis in the transaction, checking it's history for validity. And many different computers in different locations solving problems to verify that the code is legit in order to move them and tag them with a new identifier added to the blockchain for the transaction and the receivers digital wallet. 1 bitcoin is just a simplification of 100,000,000 satoshis.</p><p>Old identifiers are invalidated, only the new identifier is valid until the next transaction, and if you lose the identifier, you lose it forever, there's no way to "recover it" it's unique to that transaction only where you received it. and there's no database to pull it from again because it's time stamps and transaction history of those unique satoshis involved.</p><p><br /></p><p>nothing could be changed to how it operates without all the computers around the world agreeing to the change in the operation, no one person or computer or minority group of people or computers could mis-account, no one could steal, no one could corrupt or kill it off or inflate it or deflate it, it takes many operations from many computers all automatic, which was the point of the "mining" in the first place, finding computers globally to handle the calculations and verifications, and it would have to go globally technologically dark for it to become irrelevant and useless except if people just flat out stopped using it completely.[/QUOTE]</p><p><br /></p>
[QUOTE="John Burgess, post: 7415544, member: 105098"]And as I understand it, it's all really Satoshis (and by satoshis I mean blocks of information chained together) on a blockchain ledger out there on the global internet, uniquely identified, and a transaction involves the information tied to the satoshis in the transaction, checking it's history for validity. And many different computers in different locations solving problems to verify that the code is legit in order to move them and tag them with a new identifier added to the blockchain for the transaction and the receivers digital wallet. 1 bitcoin is just a simplification of 100,000,000 satoshis. Old identifiers are invalidated, only the new identifier is valid until the next transaction, and if you lose the identifier, you lose it forever, there's no way to "recover it" it's unique to that transaction only where you received it. and there's no database to pull it from again because it's time stamps and transaction history of those unique satoshis involved. nothing could be changed to how it operates without all the computers around the world agreeing to the change in the operation, no one person or computer or minority group of people or computers could mis-account, no one could steal, no one could corrupt or kill it off or inflate it or deflate it, it takes many operations from many computers all automatic, which was the point of the "mining" in the first place, finding computers globally to handle the calculations and verifications, and it would have to go globally technologically dark for it to become irrelevant and useless except if people just flat out stopped using it completely.[/QUOTE]
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