Bitcoin & Blockchain

- domestic: high logistic costs - export oriented: low labor costs and tariff free exports for US

what are the two types of manufacturing we discuss in class?

"the bitcoin white paper"

what is the name of the first academic paper that described bitcoin?

china and russia

2 countries that have banned their banks from servicing bitcoin companies

21 million

how many bitcoins will ever be created?

every 10 minutes

how often does bitcoin ledger reconcile?

distributed database

each person on the blockchain has access to the entire database and its complete history

transparency with pseudonyms

every transaction and its associated value are visible to anyone with access to the system

irreversibility (with computational proof)

once a transaction is entered in the database and the accounts are updated, records cannot be altered, because they're linked

blockchain

general ledger that tracks all bitcoin transactions

none

where is the bitcoin server located?

satoshi nakamoto

who created bitcoin?

peer to peer (P2P)

communication occurs directly between peers instead of through a central node

miners

computers that process transactions for the bitcoin network are commonly called

3

bitcoin bubbles in the past?

around 10,000 firms/investments

what is the relative magnitude in terms of number of terms?