Man vs Money by Stewart Cowley

Author:Stewart Cowley
Language: eng
Format: epub
Publisher: Aurum Press
Published: 2016-10-16T04:00:00+00:00

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Inside the jars are coins. But there is a twist – the jar is fiercely loyal to you and you alone.

You have arranged to meet somebody at the warehouse to pay for something you have bought. After exchanging pleasantries he tries to lift the lid off your jar to take a coin out of it, but he can’t – it is stuck with a strange and powerful magnetism and no matter how hard he tries he simply can’t budge it. However, you whisper something to your jar, and lightly lift the lid off. You take out a coin and hand it to him and he whispers something to his jar, lifts the lid off and pops the money in. You then walk over to a guy wearing a miner’s helmet who is pouring over a large book. In this book you must register the fact that you have transferred one coin from you to your companion.

Everyone departs, slightly confused but nonetheless happy.

This virtual jar-filled world is how bitcoin would work if it was a physical entity. The lettering on the side of the jar is what is known as a bitcoin address and the ‘secret word’ you whisper to open your jar is called the ‘private key’. The bitcoin’s personal address is made from a simplified version of a public key, derived mathematically from your own private key using software on your computer. The public key and the private key are two large random numbers and are unique to each other – they are intertwined and can’t be separated.

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