Bit’o’coin’s monthly exclusive super interview edition
The bitcoin, the crypto and the blockchain
This edition takes us out to the west Texas town of El-Paso, where I fell in love with a chimichanga smothered in cheese….But whilst there I met a man with no name. That’s right, THE man with no name. From such films as ‘a fistful of bitcoin’ ‘For a few bitcoin more’ and ‘The bitcoin, the crypto and the blockchain. Interestingly enough, he knew nothing about bitcoin; nothing, nada, which led to this interview.
(For the sake of the interview, from now on the man with no name will be referred to as “Flint”
“Flint”- What’s your occupation stranger?
Me- I’m a Bitcoin trader.
“Flint”- How many bitcoin does a man need to buy a decent mule?
Me- Well “Flint” the only way to purchase things with bitcoin, such as a mule, would be online. There are certain online retail stores that will accept bitcoin and other cryptocurrencies, or you could convert them to a gift card, and then buy your mule that way.
“Flint”- (Growlish noise) What is other cryptocurrencies or cryptowhatever?
Me- Good question. Bitcoin is cryptocurrency, and there are over 900 different crypto coins. To name a few, litecoin, ripple, steem, zcash etc. Cryptocurrency is digital currency that is encrypted using cryptography, which is used for security so it cannot be counterfeited. It’s also unable to be interfered with by the government. It’s super easy to transfer funds from one person to the next using private keys. Another cool feature is no3rd party fees, and smaller bank fees, because you can bypass certain bank fees. All bitcoin and other cryptocurrencies are recorded with the blockchain.
“Flint”- Well I reckon you’re going to explain blockchain next, even though you lost me back there a bit ago.
Me- Sure! Blockchain is an anonymous public ledger where all crypto transactions are recorded. Once information is recorded, it cannot be changed. A trade is permanent. All trades are recorded to the blockchain. Everything is digital. People also mine coins as well.
“Flint”- Now I know a thing or two about mining, let me get my pick and…
Me- “Flint” that’s the wrong type of mining, but that’s for another day.
“Flint”- I can’t be spending my whole day at the watering hole, I gotta get me a new mule. You got any Bitcoin I can borrow?
Me- Perhaps “Flint”. Perhaps