What the @#$% is a Bitcoin anyway?


Bitcoin is a new digital currency that could replace physical money-based standards. This video explains how Bitcoins work.

How much are Bitcoins worth? – http://preev.com/
MD5 Converter – http://md5converter.com/
Bitcoin Wallet (Online) – http://www.coinbase.com
Bitcoing Wallet (Offline) – http://www.multibit.org
Bitcoin Chain – http://www.blockexplorer.com

MD5 HASHING EXAMPLE
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Previous block hash: 098f6bcd4621d373cade4e832627b4f6
Transaction 1 – 52
Transaction 2 – 31
Reward Transaction – 192
Nonce (start with one) – 1

Enter all of those digits into the MD5 decryption program
098f6bcd4621d373cade4e832627b4f652311921
which gives you
6C018F620158B20300F2BF3D648653D4

Since that doesn’t match the pattern we’re looking for, change the Nonce value until you get the pattern. A Nonce value that works is 15, so enter this into your MD5 converter:
098f6bcd4621d373cade4e832627b4f6523119215

Which returns the pattern we’re looking for:
0664541b27c49644d290ffe82bd914d9

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