BitcoinAnswered.com - The Best Answers to the Most Common Questions About Bitcoin (What is Bitcoin?)
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+   What is Bitcoin? (5 answers)

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#1 Answer by Scott Rose

Answer Length: 19:25

(start: 00:01:17,   end: 00:20:42)



#2 Answer by Steve Patterson

Answer Length: 21:47

(start: 00:01:28,   end: 00:23:15)



#3 Answer by Andreas Antonopoulos

Answer Length: 10:12

(start: 00:04:02,   end: 00:14:14)



#4 Answer by Andreas Antonopoulos

Answer Length: 02:08

(start: 00:26:39,   end: 00:28:47)



#5 Answer by Dominic Frisby

Answer Length: 00:32

(start: 00:02:22,   end: 00:02:54)



+   What is the "blockchain"? (2 answers)

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(#1 Answer)


#2 Answer by Steve Patterson

Answer Length: 03:18

(start: 00:08:00,   end: 00:11:18)



+   Can't bitcoins just be created on a computer? (2 answers)

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#1 Answer by Scott Rose

Answer Length: 00:45

(start: 00:08:33,   end: 00:09:18)



#2 Answer by Steve Patterson

Answer Length: 00:25

(start: 00:20:05,   end: 00:20:30)



+   MYTH: Blockchain technology is important and bitcoins are not. (4 answers)

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#1 Answer by Erik Voorhees

Answer Length: 01:27

(start: 00:10:16,   end: 00:11:43)



#2 Answer by Andreas Antonopoulos

Answer Length: 01:51

(start: 00:50:53,   end: 00:52:44)



#3 Answer by Winklevoss Twins

Answer Length: 01:25

(start: 00:50:48,   end: 00:52:13)



#4 Answer by Fred Wilson

Answer Length: 00:26

(start: 00:00:00,   end: 00:00:26)



+   Should Bitcoin be regulated? (3 answers)

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#1 Answer by Erik Voorhees

Answer Length: 01:42

(start: 00:21:36,   end: 00:23:18)



#2 Answer by Erik Voorhees

Answer Length: 01:35

(start: 01:05:19,   end: 01:06:54)



#3 Answer by Andreas Antonopoulos

Answer Length: 01:57

(start: 00:50:49,   end: 00:52:46)



+   Bitcoin isn't backed by anything. (1 answer)

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(#1 Answer)

Gold is backed by nothing. The U.S dollar isn't backed by anything. Silver is not backed by anything.

What type of money is actually backed by something?

What they are backed by is what people are willing to pay for them.

That's all.

-Moosecountry05 on reddit


+   MYTH: It is impossible to have a reversible bitcoin transaction. (2 answers)

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#1 Answer by Andreas Antonopoulos

Answer Length: 04:46

(start: 00:04:18,   end: 00:09:04)



#2 Answer by Andreas Antonopoulos

Answer Length: 01:01

(start: 00:57:29,   end: 00:58:30)



+   Is Bitcoin humanitarian? (3 answers)

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#1 Answer by Roger Ver

Answer Length: 01:15

(start: 00:00:00,   end: 00:01:15)



#2 Answer by Andreas Antonopoulos

Answer Length: 01:16

(start: 01:00:37,   end: 01:01:53)



#3 Answer by Roger Ver

Answer Length: 03:00

(start: 00:00:00,   end: 00:03:00)



+   MYTH: Bitcoin went bankrupt. (3 answers)

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#1 Answer by Gavin Andresen

Answer Length: 00:45

(start: 00:14:41,   end: 00:15:26)



(#2 Answer)

Bitcoin is not a company or a privately run system. It cannot go bankrupt.

Centralized institutions with poor management practices, such as Mt. Gox, have failed in exactly the same way that any other company can.

Saying that Bitcoin went bankrupt for a company's failure is like saying the US dollar went bankrupt because a bank office closed. Every company is responsible for its own failure or its own success. This includes security.


(#3 Answer)

http://www.BitcoinObituaries.com


+   How can we trust Bitcoin? (1 answer)

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#1 Answer by Gavin Andresen

Answer Length: 01:11

(start: 00:09:10,   end: 00:10:21)



+   Are alternate cryptocurrencies (altcoins) good? (3 answers)

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#1 Answer by Spanish Guy (for entertainment purposes only)

Answer Length: 03:39

(start: 00:00:00,   end: 00:03:39)



#2 Answer by 'fyrstikken' (for entertainment purposes only)

Answer Length: 03:23

(start: 00:00:00,   end: 00:03:23)



(#3 Answer)

http://nakamotoinstitute.org/mempool/the-problem-with-altcoins/


+   MYTH: Bitcoin is anonymous and untraceable. (1 answer)

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(#1 Answer)

"Every transaction performed with bitcoin is visible on the distributed electronic public ledger known as the blockchain." Given this traceability, investigators can easily "follow the money."

The public ledger feature of the Bitcoin block chain differentiates Bitcoin, and other decentralized digital currencies, from many of the centralized digital currencies, such as e-gold and Liberty Reserve. The block chain makes it harder for criminals to hide their illicit activity. The work of researchers to link known transactions to individual identities reduces the attractiveness of Bitcoin for criminal activities. This research also provides an additional tool for law enforcement to identify illicit transactions, assets and the individuals associated with this activity in support of apprehension, asset forfeiture, and prosecution.

Of course, law enforcement, especially at state and local levels, will face a bit of a learning curve as they approach digital currencies and will also have to develop special tools to aid their investigations. But as this most recent case shows, Bitcoin, far from being a perfect tool for criminals, may actually be much more useful to law enforcement.

(#1 Answer)

http://coincenter.org/2015/04/silk-road-corruption-case-shows-how-law-enforcement-uses-bitcoin/


+   MYTH: Mining is wasteful. (1 answer)

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#1 Answer by Andreas Antonopoulos

Answer Length: 01:51

(start: 00:50:53,   end: 00:52:44)



+   Is Bitcoin is only used by criminals? (1 answer)

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#1 Answer by Andreas Antonopoulos

Answer Length: 00:44

(start: 00:33:37,   end: 00:34:21)



+   MYTH: Bitcoin has no intrinsic value. (2 answers)

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(#1 Answer)

Bitcoin's intrinsic value is that it can instantaneously transmit value across any distance or border, nearly instantly and for free. It's also truly limited in supply, so a government can't print more of it on a whim (which devalues all money already in circulation). Bitcoin is money, controlled by the people, with the power to essentially teleport and without requiring permission to do so.


#2 Answer by Trace Mayer

Answer Length: 02:39

(start: 00:06:21,   end: 00:09:00)



+   Are instantaneous (0-confirmation) Bitcoin transactions possible? (1 answer)

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#1 Answer by Andreas Antonopoulos

Answer Length: 01:18

(start: 01:10:09,   end: 01:11:27)



+   TECHNICAL QUESTION: Is Replace-By-Fee a Good idea? (1 answer)

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#1 Answer by Andreas Antonopoulos

Answer Length: 02:06

(start: 01:08:03,   end: 01:10:09)



+   What is a 51 percent attack? (1 answer)

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#1 Answer by Andreas Antonopoulos

Answer Length: 02:15

(start: 00:00:00,   end: 00:02:15)




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