Money for Nothing

Blockchain primer
What the Fork?
Virtual daytrader
White knuckel ride
Loss aversion
The Tangle

Concensus

23-11-2015
EUR    -25
BTC 0,0800

18-04-2017
EUR  -1.119
BTC  1,0000

23-11-2015
BTC  -0,0330
ETH   1,4700

BTC

ETH

1.119

6,90

54,63

18-04-2017

What the Fork?

BTC

BCH

23-11-2015
EUR    -25
BTC 0,0800

18-04-2017
EUR  -1.119
BTC  1,0000

23-11-2015
BTC -0,0330
ETH  1,4700

BTC

BTG

BCH

ETH

ETC

1.119

15.661

54,63

6,90

3.133

20-12-2017

Wallets

Soft, hard and paper wallets

WIF - Wallet Import Format

BIP - Bitcoin Improvement Proposal

Wallet:

private key
public key
multiple addresses
mnemonic

Transaction:

amount
address of sender
address of receiver
signed with private key of sender

https://github.com/iancoleman/bip39

Address[0]:

Wallet private key:

1GR3ZAkVQ8pWzaKs6vpNZSyDHVj1qTPtdL

device supreme inside work rib urge hospital rib ball flash direct exhaust seven indoor kiss

BIP39 Mnemonic:

xprv9vEij6gnXc25k9aEKYAS1kFK9BwWd2wTysCg6trEtDP7en7oMaZu4Aq5zabH9V4N7V3u19WPErFacQ4L2qq9m6J24gXH5X6x2yYJKXJucgV

Wallet public key:

xpub69E58cDgMyaNxdehRZhSNtC3hDn12VfKM68GuHFrSYv6XaSwu7t9by9ZqsRA5viUV9WG82V1LmzZMBCWVsYnpbnC7C8Gg9pTfbio5maRdgY

private key:

Kz9e1rfsGNZHmdMDHsCvy4nifmNeNKcjUdkot1ckEMdD5Hib6bta

Address[1]:

1GWPhu1DDQgjPcju93K9ggtDbbxkAW22bc

private key:

L3tPbbA65DcN6yZytBK46ymhuk4y8yoP6NcFLR2kYK8uaeN9zMLa

https://changelly.com/

https://bitfinex.com/

Exchange

Loss aversion

pain felt with loss > joy felt with gain

Daniel Kahneman

Humans may be hardwired to be loss averse due to asymmetric evolutionary pressure on gains and losses. For an organism operating close to the edge, the loss of a day's food could amount to death, while the gain of an extra days food could lead to increased comfort but would not lead to a corresponding increase in life expectancy.