{"id":7962,"date":"2022-09-26T18:02:02","date_gmt":"2022-09-26T18:02:02","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=7962"},"modified":"2022-09-26T18:02:02","modified_gmt":"2022-09-26T18:02:02","slug":"how-bitcoin-works","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/09\/26\/how-bitcoin-works\/","title":{"rendered":"How Bitcoin works"},"content":{"rendered":"\n<p>Bitcoin was created by an individual (or group of individuals) who went by the alias of Satoshi Nakamoto. To this day, nobody knows (at least publicly) who Satoshi Nakamoto is &#8211; and that\u2019s arguably their biggest legacy to the community.<\/p>\n\n\n\n<p>By vanishing into the ether soon after Bitcoin was robust enough, Nakamoto has done away with the first central point of failure.<\/p>\n\n\n\n<p>If gold had been \u201cinvented\u201d by someone, that person would arguably hold great influence over their invention. If, moreover, that someone had kept a key that allowed them to control the gold economy, they would wield an ungodly amount of power.&nbsp;<\/p>\n\n\n\n<p>They would also be vulnerable to pleas, bribes, legal action, punches in the face, and otherwise strong pressure to tweak their invention to benefit one party or another &#8211; perhaps a government, or the mafia. Either way, the entire system would be vulnerable at a central point. That\u2019s not Bitcoin\u2019s case.&nbsp;<\/p>\n\n\n\n<p>Also, there\u2019s also no cult of personality around its creator, no one to dictate the rules unchecked. Bitcoin belongs to the world, and no single person or country has jurisdiction over it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin was created by an individual (or group of individuals) who went by the alias of Satoshi Nakamoto. To this day, nobody knows (at least publicly) who Satoshi Nakamoto is &#8211; and that\u2019s arguably their biggest legacy to the community. By vanishing into the ether soon after Bitcoin was robust enough, Nakamoto has done away [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[421],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/7962"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=7962"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/7962\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=7962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=7962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=7962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}