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28 lines
1.2 KiB
Markdown
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layout: default
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title: Lexicon
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nav_order: 15
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search_exclude: true
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---
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# Satoshi Nakamoto Lexicon
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{: .no_toc }
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## Table of contents
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{: .no_toc .text-delta }
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- TOC
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{:toc}
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---
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## Addresses
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There's a separate public/private keypair for every bitcoin address. You don't have a single private key that unlocks everything. Bitcoin addresses are a 160-bit hash of the public key, everything else in the system is 256-bit. - [Re: Bitcoin Address Collisions](/docs/forum/bitcoin-forum/65)
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Bitcoins are sent to and from bitcoin addresses, which are essentially random numbers with no identifying information. - [Re: Repost: How anonymous are bitcoins?](/docs/forum/bitcoin-forum/7)
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## Banks
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The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible. - [Re: Bitcoin open source implementation of P2P currency](/docs/emails/p2p-research/1/)
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