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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by COINS NEWS - 2 years ago

The guy who actually bought Lambo with Bitcoins....

Peter Saddington: The Lambo Guy Peter Saddington of Atlanta first read about bitcoin in 2011, and bought some for less than $3 per coin. With bitcoin trading at around $7,500, the return on those early investments is around 250,000%. “I’ve never seen...

More / Bitcoin Reddit - 2 years ago

Farm anti-bitcoin trolls

If you have noticed, on new positive posts, they are downvoted pretty quick, as well as all positive comments. While the FUD is upvoted rapidly. There is an influx of paid farm anti-bitcoin trolls. As well as the massive shorting, this is bullish for...

by COINS NEWS - 2 years ago

Would you invest in Bitcoin if it crashed to $1.00?

Let's say tomorrow you wake up and decide to check the crypto charts. You have sleep still in your eyes and your vision is blurred, but you notice something odd. You rub your eyes and OH FUCK Bitcoin is down to $1! The news coming out is obviousl...

More / Bitcoin Reddit - 2 years ago

I'm addicted to buying Bitcoin

I keep going to Cashapp to buy more and more. Since the price is down my brain is like "perfect opportunity!!!" But this happens like 3-4 times a day. I would delete the app for a while but I'm nervous because of all those horror storie...