Data Science Tales - A Tech blog by Bia Chaudhry

In today's blog post we will look at the following remaining points: Bitcoin Origin Advantages Disadvantages Books related to it.. Future Assignment code : fun factor :) Conclusion You may wonder why the above list is beginning from "4", this is because we have covered the points: 1,2,3 previously... you can view them here  and here too :)  so without further ado, let's begin .... Bitcoin Origin When ever the word bitcoin comes into my mind, I used to think of the golden foil wrapped coin chocolates, but fortunately or unfortunately that used not to be the case. Actually One fine morning/evening/or on some other time of the day (2008), a person code named; Satoshi Nakamoto   ( People over the Internet are saying they don't know who is Satoshi Nakamoto, whether a person or some company.)  published a paper naming :   A Peer-to-Peer Electronic Cash System . I hope you have read that as I have attached the link to this paper in th...

In the  previous blog post  we were looking at the problems with physical forms of money. So now according to our agenda lets talk about the solutions to those problems... Solutions... Plastic money like credit cards to make money portable. But the above solution still go as the physical form of money. Solution # 2 is that we make something that is digital. Where there is no need to have any middle man while doing transaction of money. no need for any central authority for check and balance. The system should be distributed as well as decentralized. (What this system is? Is it about bitcoins? Or Something else? ) But again many problems are associated with this system... I am pausing this session here, now if you are really concerned about crypto-currency then what you need to do is: Go here   (bitcoin.org/bitcoin.pdf),  read this paper and write in the comment section what you found from this paper. Also think about some of the problems associat...

Points to cover: What is money ? Problems Solution ? bitcoin Bitcoin origin Advantages Disadvantages Books related to it.. Future Assignment  code : fun factor :) Conclusion 1. What is Money? source: https://i.gifer.com/FU8l.gif Definition: Currency, coins, asset, property that we spend/ sell to buy something materialistic. Or that other people give us for our services. Everyday we need to deal with one another and we get some services from other human beings, similarly other people get some reward in exchange of their provided services in order to make a living. That reward could be and mostly is in the form of money. 2. Problems with simple money There are many problems associated with currency in paper or other physical forms, some of them are: They could be stolen. Could get distorted, or torn out. Could fell down. Could become wet in rain. You could lost them in your school bag or any cupboard. and many other unconcerned or l...