Bitcoin Q&A: The Rules of Bitcoin (Part 1)

    [TARGET MARKET] What do you mean when
    you state a deal is “” wrong””? What is the difference in between
    “” correct”” and “” inaccurate””? [ANDREAS] That'' s a terrific inquiry. There are a collection of rules within the system,
    possibly concerning thirty or forty regulations entirely, that the software application [uses to analyse deals] As an example, if a deal states my address
    is paying your address some quantity [of bitcoin]: an appropriate purchase is one where my address
    is properly formatted and also has a valid address, your address is appropriately formatted
    and has a legitimate address. The quantity described is within 0 – 21 million bitcoin,
    which is the optimum quantity you can have. I [must] really have that total up to
    pay you; if I put on'' t have it, I can ' t pay it. That amount hasn ' t been spent
    before from my account, so it'' s not being “double-spent.”” The transaction has adequate fee to pay the network. There are every one of these little rules, not just for deals however also for blocks which contain them.They '

    re collective. My trademark has to be properly formatted. Those are the rational, “” human-level”” policies. There are thirty approximately rules that are really [much] at the programming degree. The initial 3 littles the version number need to be '' x,
    '. unless a timelock is established on the deal, in which situation these version little bits … You know, every one of these mysterious rules, which have to do.
    with analysing the format of the transaction.But your software program

    does that, so. you wear ' t demand to fret regarding it. You just say, “I have money, “I offer you cash.”” Click, boom, done, your software.
    will certainly create a valid purchase. The important thing [below is], the software.
    is not [asking], “” Are you an excellent person?” “” “Are you an enemy? Are you on a listing of.
    excellent people or bad people? Are you enabled?” “” “When were you born?” “” “What is your gender?””.
    “” What is your religion?”” None of those are in the rules. That'' s the vital difference.

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