Skip to main content

#Business: How Bitcoin works

Bitcoin is often referred to as a new kind of currency. Yet like all currencies its value is determined by how much people are willing to exchange it for.

To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.
For each problem solved, one block of Bitcoins is processed. In addition the miner is rewarded with new Bitcoins.
To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of new Bitcoins are produced each day.
There are currently about 15 million Bitcoins in existence.
To receive a Bitcoin, a user must have a Bitcoin address - a string of 27-34 letters and numbers - which acts as a kind of virtual post-box to and from which the Bitcoins are sent.
Since there is no register of these addresses, people can use them to protect their anonymity when making a transaction.
These addresses are in turn stored in Bitcoin wallets, which are used to manage savings.

Comments

Popular posts from this blog

#Healthwire: Castor oil.

 Another possible solution to your wart problem is to rub castor oil on the wart. The oil can help moisturize the skin until the wart breaks apart and disappears.

#Healthwire: Tea tree oil.

When it comes to skin problems, don’t forget to use tea tree oil. This essential oil is quite effective in curing skin disorders because of its antiviral as well as antiseptic properties. Applying diluted tea tree oil on the skin can solve oily skin problems and it can also help kill off the warts growing on your skin. Using undiluted tea tree oil is not recommended as it is quite strong but mixing it with carrier oil like almond or olive oil can be rewarding especially when it comes to removing warts.

#Religion: Congratulations, American “missionaries.” This is the fruit of your heresy in Chiapas.

The unifying theme between both of these stories is the propagation of heresy. Heresy throughout Christian history is traditionally punished severely because it propagates false ideas about the nature of God and His revelation. I speak not of mere disciplinary disagreements, or cases when charges of heresy were falsely used to silence public criticism since both are sins and there are many examples of people abusing this for their own ends. What I speak of are clear cases of heresy, such as Arianism. Arianism is the heresy that Jesus is a superman but not God. Spread originally by the Libyan priest Arius, his heresy infected 75% of all Christians and 80% of bishops. Coming at the dawn of the 4th century, Arius’ teaching endured for centuries after his death and provided the basis for Islamic theology’s denial of Jesus’ divinity. Arius the heretic being devoured in hell while Melchizedek the righteous looks on. But if he were alive today, Melchizedek would be called an “intoleran...