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.
Bitcoin News / Bitcoin.com - 2 days ago
PRESS RELEASE. Dubai, UAE β Enegix Global, a leading player in the digital mining infrastructure industry based in the UAE, is excited toannounce the launch of its new brand, 21pool. The brand’s flagship product is a bitcoin mining pool that sp...
More / Bitcoin Reddit - 2 days ago
I was wondering what the different ways of buying bitcoin are when countries (in the West or anywhere for that matter) will get more restrictive on opting out of fiat and will implement capital controls. Are there non-kyc exchanges, could you buy bit...
Cryptocoins News / CoinJournal - 2 days ago
Bitcoin surges past $66k after US CPI data triggers buyside pressure
Here’s why QCP Capital analysts say BTC could run to $74k
Bitcoin price surged past the $66,000 mark on Thursday to hit highs last seen in April amid a fresh dose of bullish...
Bitcoin News / Bitcoin.com - 2 days ago
According to the seven-day simple moving average (SMA) statistics regarding Bitcoin’s hashrate, the network hashrate has stayed below the 600 exahash per second (EH/s) mark for approximately one week. The recent rise in bitcoin’s price...
Bitcoin News / Bitcoin Magazine - 2 days ago
The Chicago Mercantile Exchange (CME), the world's largest futures exchange, is planning to offer spot bitcoin trading on its platform, according to a Financial Times report. This move would provide major hedge funds and institutional traders with a...
More / Bitcoin Reddit - 3 days ago
Hey, running a scenario by you guys for your input. Can you help me wrap my head around this? I'll of course consult a professional, but wanted to start here with the real professionals ;-) Say I made a few purchases around 2013 and 2014 that, ad...