Bitcoin


Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process. Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no central authority and banks. Bitcoin is designed to have only 21 million BTC ever created, thus making it a deflationary currency. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to peta hashes. Being the first successful online cryptography currency, Bitcoin has inspired other alternative currencies such as Litecoin, Peercoin, Primecoin, and so on. The cryptocurrency then took off with the innovation of the turing-complete smart contract by Ethereum which led to the development of other amazing projects such as EOS, Tron, and even crypto-collectibles such as CryptoKitties.

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More / Bitcoin Reddit - 8 hours ago

If you had 1 bitcoin…

If you had bought one bitcoin years ago for under $500 and held this long would you sell it today? You do not β€œneed” the money today.. do you continue on with the hold? Or take the ridiculous gain? submitted by /u/jep5680jep [link] &...

More / Bitcoin Reddit - 11 hours ago

Bitcoin currency encryptal investments

https://coinmarketcap.com/currencies/bitcoin/https://coinmarketcap.com/ stock market for crypto starting to get very expensive in the currency make sure you guys step up your a game because the dollar the cash is starting to lose its value! su...

More / Bitcoin Reddit - 11 hours ago

Only using Bitcoin to avoid income tax

Is telling the IRS I buy everything with and received all my income with bitcoin a valid excuse. Like does the USA have any kind of income tax on Bitcoin as long as I never exchange to USD. submitted by /u/Yt_TheBathtub [link] ...

More / Bitcoin Reddit - 13 hours ago

Bitcoin changed me as a person.

I am someone who was least interested in Finance, hardly read any books on them and was ignorant when it came to money. Now, I can’t believe I finished 4 books in the past 6 months on Personal Finance and Bitcoin and now on my way to picking up the 5...

More / Bitcoin Reddit - 14 hours ago

Bitcoin Rise

How does Bitcoin rise from here? Lately it seems to keep hitting 70K and then drop and repeat. I know, I know, we gotta HODL and play the long game. I just wanna know, with all the ridiculous amount of buying that seems to be happening, what is stopp...