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Nt1310 Unit 7 Journal Entry

Decent Essays

First, I would like to apologize for being late. It was entirely my fault, I had confused the 2:30 NSA presentation as being the one I was supposed to write the report on, and I am truly sorry for causing you and/or Columbus State as a whole any embarrassment in front of the FBI. When I arrived, David had just begun about bitcoins and then later moved on into the deep web with a focus on a website called The Silk Road. From this, I am assuming that what I had missed in the beginning was related to these two things, meaning that the presentation as a whole focused on internet activity. To start off with bitcoins, this was the more interesting talk to me and I feel very lucky to have caught it in time. While I did not learn as much as I did the later part of the …show more content…

David’s explanation helped to clear all this up for me, and while I acknowledge there is much more to learn, I feel like he has given me a stepping stone to go and understand the rest on my own. What I gathered from him was that the bitcoins are mined through dedicated systems working to solve complex math problems. From my past experience I know that these problems are generated by collecting all pending bitcoin transactions and transforming them into a massive puzzle. What I did not know was that these puzzles were generated every ten minutes, with the reward for solving each puzzle being twenty five bitcoins. I found this time based system to be interesting as I would have expected it to be a transaction based system. For example, every one hundred transactions, or however many is necessary to maintain balance, would be transformed into puzzle, instead of it just being however many are collected in ten minutes. I also did not realize just how competitive bitcoin mining had become. Between the student’s comment on his experience attempting to mine a bitcoin and David’s

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