From e3f501edd51be3065c11ac977c8c32997f8bc3b2 Mon Sep 17 00:00:00 2001 From: Quoc-Anh Nguyen <9426721+imcvampire@users.noreply.github.com> Date: Sun, 17 Mar 2024 19:44:53 +0000 Subject: [PATCH] feat: summaries from 1 to 52 --- Summary/25.md | 5 +++++ Summary/28.md | 12 ++++++++++++ Summary/3.md | 14 ++++++++++++++ Summary/30.md | 9 +++++++++ 4 files changed, 40 insertions(+) create mode 100644 Summary/25.md create mode 100644 Summary/28.md create mode 100644 Summary/3.md create mode 100644 Summary/30.md diff --git a/Summary/25.md b/Summary/25.md new file mode 100644 index 0000000..f144fe6 --- /dev/null +++ b/Summary/25.md @@ -0,0 +1,5 @@ +# 25 + +Currency exchange service that sells and buys bitcoins for euros and other currencies. Direct exchangeability to an existing currency would give bitcoin the best possible initial liquidity and thus the best adoptability for new users. + +It could be an automated exchange service. \ No newline at end of file diff --git a/Summary/28.md b/Summary/28.md new file mode 100644 index 0000000..22d69e3 --- /dev/null +++ b/Summary/28.md @@ -0,0 +1,12 @@ +# 28 + +Creating a digital currency exchange service to trade bitcoins for euros and other currencies could give bitcoins more liquidity and make them easier to use. + +There are two possible exchange mechanisms: + +- A website where users can post rates and trade with each other, similar to eBay. +- An automated exchange service that calculates rates and performs transactions automatically. + +Morevoer, a specific application, such as a virtual goods market, could help bootstrap the use of bitcoins. + +Continue looking for an application to use bitcoins for before starting the exchange service. \ No newline at end of file diff --git a/Summary/3.md b/Summary/3.md new file mode 100644 index 0000000..3a5fb9a --- /dev/null +++ b/Summary/3.md @@ -0,0 +1,14 @@ +# 3 + +## Number of coins and the value of bitcoins +21 million coins for the whole world, which is picked in the middle, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000 + +The value of bitcoins would be relative to the electricity consumed to produce them + +The double-spender would not be able to blast his alternate transaction out to the world without the merchant getting it, so he has to wait before starting. + +If the real transaction reaches 90% and the double-spent tx reaches 10%, the double-spender only gets a 10% chance of not paying, and 90% chance his money gets spent. For almost any type of goods, that's not going to be worth it for the scammer. + + +## Creating password-protected private keys +There is a feature suggestion for the program to include a UI tool for creating password-protected private keys.Satoshi mentions the importance of password protection to make using your money more difficult for someone who happens to find your key file. \ No newline at end of file diff --git a/Summary/30.md b/Summary/30.md new file mode 100644 index 0000000..e32e173 --- /dev/null +++ b/Summary/30.md @@ -0,0 +1,9 @@ +# 30 + +## Increasing liquidity: + +Setting a minimum transaction size to encourage users to trade with each other. This would create aggregators who buy smaller amounts, increasing confidence in selling Bitcoin. + +## Finding a use case: + +Targetting virtual communities with millions of users, like World of Warcraft and Second Life, to promote Bitcoin as their currency. \ No newline at end of file