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Playlist "ChaosWest @ 34c3"

Magic Internet Money

Kajilot

So you've probably heard that there is this relatively new thing called cryptocurrencies, supposedly some kind of revolutionary "magic internet money", which is gaining a lot of attention (and insane valuations) lately. But what is a crytocurrency anyway? does it work exactly? Most importantly - why does it work like that? Instead of answering these questions directly, we will answer them and more, by putting our Satoshi Nakamoto hats and inventing our own cryptocurrency from scratch.