A little tale about bitcoin.
Do you know what is the Bitcoin? That is the virtual currency, which acts like real currency, but it is more like a share. The biggest difference between regular currencies and bitcoins is that the bitcoin is created by some private corporation like a bank, and it can be used only at the internal payments of the corporation. The thing with the bitcoins is that they can be used also with payments between corporations.
But that needs special contracts for those payments, and in those contracts should determine the value of bitcoin to regular or governmental currencies. The difference between bitcoin and normal currency is that sending bitcoin over the national border doesn't need permission or make reports. The transaction by using bitcoin happens by the way, that the person would buy bitcoin from the operator, who will send that currency to the receiver.
The bitcoin can be text message or PDF, where is a certain control number. And then the real money can send later or the sender can just open the bank account to the receiver, that this person can pay things by using that account, but that needs very high-level trust if that thing would be done. If someone misuses that kind of trust, the damages would be very high. And I don't know how legal this kind of things are, so ask your lawyer, before you do anything, what I have written in here in practice.
Because if this thing is illegal, that can cause legal actions and even send the actor to the jail. The Internet is full of stories about applications, which should make the user rich. Those applications base the idea that artificial intelligence would compile the prizes of virtual currencies, and then they just buy and sell that thing, what would make money by using that data.
The thing is that artificial intelligence can do it actually by a very interesting way, and it probably follows the Internet traffic, or exactly the TCP/IP transmitting, and when the certain server would send the TCP/IP protocols "Echo-request" message, the artificial intelligence would send the order to sell or buy some virtual currency. The idea is similar to electronic intelligence systems, what mission is to predict the attack of the enemy. The system has collected information about the network transmit, and then it has compiled, what kind of transmitting happens before somebody buys or sells the virtual currency.
Then this data has been given to algorithm, what is waiting for its victim in the router. If the signature of the transmission is similar to the files, what is predicting the transaction, the algorithm can also send a message to its server to start to buy or sell some bitcoins or any other virtual currency. This thing would give this kind of software able to make very much money. The idea of this kind of way to make money is the prediction. And how to get information about the payments and plans to buy or sell that kind of currency.
Do you know what is the Bitcoin? That is the virtual currency, which acts like real currency, but it is more like a share. The biggest difference between regular currencies and bitcoins is that the bitcoin is created by some private corporation like a bank, and it can be used only at the internal payments of the corporation. The thing with the bitcoins is that they can be used also with payments between corporations.
But that needs special contracts for those payments, and in those contracts should determine the value of bitcoin to regular or governmental currencies. The difference between bitcoin and normal currency is that sending bitcoin over the national border doesn't need permission or make reports. The transaction by using bitcoin happens by the way, that the person would buy bitcoin from the operator, who will send that currency to the receiver.
The bitcoin can be text message or PDF, where is a certain control number. And then the real money can send later or the sender can just open the bank account to the receiver, that this person can pay things by using that account, but that needs very high-level trust if that thing would be done. If someone misuses that kind of trust, the damages would be very high. And I don't know how legal this kind of things are, so ask your lawyer, before you do anything, what I have written in here in practice.
Because if this thing is illegal, that can cause legal actions and even send the actor to the jail. The Internet is full of stories about applications, which should make the user rich. Those applications base the idea that artificial intelligence would compile the prizes of virtual currencies, and then they just buy and sell that thing, what would make money by using that data.
The thing is that artificial intelligence can do it actually by a very interesting way, and it probably follows the Internet traffic, or exactly the TCP/IP transmitting, and when the certain server would send the TCP/IP protocols "Echo-request" message, the artificial intelligence would send the order to sell or buy some virtual currency. The idea is similar to electronic intelligence systems, what mission is to predict the attack of the enemy. The system has collected information about the network transmit, and then it has compiled, what kind of transmitting happens before somebody buys or sells the virtual currency.
Then this data has been given to algorithm, what is waiting for its victim in the router. If the signature of the transmission is similar to the files, what is predicting the transaction, the algorithm can also send a message to its server to start to buy or sell some bitcoins or any other virtual currency. This thing would give this kind of software able to make very much money. The idea of this kind of way to make money is the prediction. And how to get information about the payments and plans to buy or sell that kind of currency.
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