Highly recommend the original white paper on crypto written by Bitcoin creator Satoshi Nakamoto:
https://bitcoin.org/bitcoin.pdf
Short read, not too much math, extremely well written and describes in depth not only the motivation and design, but potential vulnerabilities and why they are not practical threats.
One interesting problem not addressed is explosive growth in block size. Recall that:
- blocks are limited to one every ~10 mins by self adjusting difficulty
- blocks must contain all transactions from previous 10 minutes
Currently we are doing about 400k transactions per day, and one block = ~1MB. If we assume transaction count is roughly proportional to the amount of people using the currency, we could see 100x or 1000x growth in transaction volume.
So we're looking at 100mb or 1GB blocks. This would create a bandwidth issue, every node has to download 1GB every 10 minutes, there would be propagation delays. I don't think this is a huge problem - networks are getting faster, but this problem is not addressed in the white paper. He does talk about tree pruning of historical blocks.
One thing I'm not clear on, do miners just grab the hash from a node, or do they grab the entire transaction set?
For example see the world transaction rate growth since inception, and pay attention to the explosive rate of growth in the past month.
https://blockchain.info/charts/n-transactions?timespan=all
This article explains how to get anything for free on Ebay. This is very simple, proven and guaranteed to work. You can get, for example, an IPhone 4, a 64GB IPad 2, or even a Macbook Pro laptop for free. 1. If the seller does not use delivery confirmation, you already won. Just tell ebay you never received the item. They will always side with you (bhe buyer) and refund your money, including shipping, AT THE SELLER'S EXPENSE. There is nothing the seller can do. Ebay will not investigate further, they close the case. I have hard numerous reports of this happening. See this facebook thread and this article . The buyer now has no item, no money, and in addition he is out the cost of shipping. Totally screwed. 2. If you are dealing with a savvy seller, they will use delivery confirmation. Don't worry, you can still get your item for free. After you receive the item, open a case and claim the item broken. Let's use an IPhone 4 as an example. Open a claim and say the me...
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