"Imagine that to send an e-mail, you'd have to download and verify every other email..." - 1m54s
Same about cofee - 2m
"It means that every node verifies every transaction on the network. So if you had billions of people using Bitcoin, if you had every transaction on every node, that would be super inefficient" - 2m45s
Has she ever heard of light wallets? Only a few thousand miners have to download the entire blockchain for the network to remain decentralized, no matter how billions of people use it. This is a straight up lie. If every node needed to download and verify all transactions, Bitcoin would be a horrible, worthless system.
[quote]Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.[/quote]
Satoshi Nakamoto
56 comments so far..
