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.
More / Bitcoin Reddit - 2 years ago
I've heard many people including economics specialists say that Bitcoin can never work as a valid currency because of its price volatility, but isn't this missing the point? I mean isn't the grand idea that Bitcoin would eventually become...
Cryptocoins News / The Cointelegraph β - 2 years ago
βMore than 70% of the adult population of El Salvador does not have a bank account,β reads the latest Global Research report from Bank of America. βFor that reason, democratizing access t...
More / Bitcoin Reddit - 2 years ago
Graveyards are replaced by other real estate every few hundred/thousands years. But the blockchain is truly forever. Imagine having a vanity address and sending it specific amount of sats with a hidden message. Then you take that private key with you...
by COINS NEWS - 2 years ago
As usual, I'm just updating this week numbers! I'm Venezuelan living here. Yes, monthly minimum wage is around 2.5 USD. One USD is around 4,000,000 Bs. (Bolivares). Average monthly wage is around 70 USD. A family (5 members) needs around 400...
Bitcoin News / Bitcoin.com - 2 years ago
Digital currency markets have been gathering gains again moving past the lows seen a few weeks ago. This week crypto traders have been discussing over-the-counter (OTC) desks bubbling with demand for bitcoin as the co-founder of 21st Paradigm explain...
Cryptocoins News / The Cointelegraph β - 2 years ago
The new hires will help PayPal expand its crypto-focused business offering at a time of rapid adoption of Bitcoin and Ether. Global payments provider PayPal is in the...
More / Bitcoin Reddit - 2 years ago
I actually don't want my bank to know that I'm buying bitcoins. How and where can I use my bank card anonymously?( I mean with no trace) They are very strict and they close my account submitted by /u/SEO-Expert-writer [link] &...
Bitcoin News / Bitcoin.com - 2 years ago
Born four years ago as a result of the disagreement between two groups over scaling issues, Bitcoin Cash has grown to be so much more. Offering a full suite of solutions for cryptocurrency users, having support from thousands of merchants at a worldw...
More / Bitcoin Reddit - 2 years ago
For me i just found this all interesting and saw it as a new way to make money but the more i dive into it i see thereβs more to it. submitted by /u/TheRealDrakie [link] [comments]
Bitcoin News / Bitcoin.com - 2 years ago
The hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet. Unnamed sources detail that the American asset management firm leveraged bitcoin to divers...
Cryptocoins News / The Cointelegraph β - 2 years ago
A small number of old hands choose to cover all their bases as BTC/USD clinches a July close above $41,000. Bitcoin (BTC) closed July above $41,000 in a βbullish engul...