Hi Ameer, I have few questions as follows: 1- When we do a transaction in an open ledger, how do we keep the privacy of the transaction. 2- When transaction is being done between two parties, how the agreements got exchanged. 3- If we are buying a commodity, how the transaction is going to be and why seller also needs to buy bitcoins? 4- After receiving the bitcoin, if the receiver doesn’t want to en cash immediately and do it on a later date, what rate of exchange will be applicable? 5- Is it possible to send bitcoins directly to the bank account? 6- How the receiver will retrieve the money?


Soni

Soni
3 weeks ago

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Hi Ameer,
I have few questions as follows:
1- When we do a transaction in an open ledger, how do we keep the privacy of the transaction.
2- When transaction is being done between two parties, how the agreements got exchanged.
3- If we are buying a commodity, how the transaction is going to be and why seller also needs to buy bitcoins?
4- After receiving the bitcoin, if the receiver doesn’t want to en cash immediately and do it on a later date, what rate of exchange will be applicable?
5- Is it possible to send bitcoins directly to the bank account?


    Charles Nutter
    1.0 All parties to the blockchain must agree upon a security tool. I recommend NSA level A1 because A1 is the highest Internet security and the only tool that has never allowed hacking of any kind. Boeing, DoD, CIA, and most defense contractors use level A1. The NIST.gov website describes A1 better than I. I recommend it because the developer of A1 level computers for NSA was Dr. Roger R Schell, Ph.D.(Wikipedia) was deputy director of the NSA.gov He is a high school and college friend of long ago and operates a firm called Aesec.com that supplies an operating system called GEMSOS with Security Kernel. His partner, Ed Reed at Aesec.com can implement certified A1 level in blockchains and for IoT applications. It is much better than AES256 or other flavors in systems that need constant patching to prevent hacks from compromising the systems. I am not an agent for Aesec.com but need the A1 for our blockchain. You must have a secure blockchain or private chain information will escape. Learn about Aesec. Charlie
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    Charles Nutter
    when the transaction is done everyone can see the result and can print it out as a witness with comments. This eliminates the need to lawyers to spend hours at high bucks crafting a contract that has maybe only one witness or two at the most. Worthless!! If your blockchain is secure then you do not need to worry about everyone in your chain seeing the result. They are there as witnesses and to help you make the contract better.
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