Bitcoin/Cryptocurrency EDX Course notes

I am taking UC Berkley's EDX course for bitcoin and cryptocurrency

finish by April 22nd 2019

Bitcoin Course Notes:

Bitcoin is a a digital decentralized currency built on principles of computer science, cryptography, and economics

The underlying data structure is blockchain

Came from the CyberPunk Movement :
A group of individuals who advocate for the protection of privacy using cryptography

The white paper for Bitcoin came in October of 2008 by Satoshi Nakamoto

It solved a solution for the Double Spend Attack

Makes use of The blockchain and the Consensus Protocol

Distributed Ledger +Consensus

My Break down:

In order for money to work:
We need to give a transferable value to the currency and we need to know
how much of the currency can exist without it being created out of thin air

The United States Dollar has a lot of value but with more recent adjustments
now seems to be created out of thin air through issuance of debt.

Bitcoin is a 3 part Computer Network that was initiated created through a program that is simultaneously being
run on a whole network of trustless machines through usership and competition.

The 3 parts of bitcoin include:
1.The blockchain
2.Bitcoin Consensus Protocol
3.Distributed Ledger technology

HW 1: Explain Bitcoin to your grandama:

Bitcoin is a deflationary currency that uses the 3 computer science principles of Blockchain, Bitcoin Consensus Protocol, and Decentralized ledger technology to create a digital currency that behaves similar to dollars in an online bank account. Each of the 3 principles takes care of an area of