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 - 3 years ago

The Best Time To Buy Bitcoin....

...IS NOW! With the MSM inflation report that came out this week, the establishment finally have been forced to admit what we bitcoiners have known is going on for a while now. In due time, they will be forced to learn that the best way to protect ag...

More / Bitcoin Reddit - 3 years ago

Just got into bitcoin a month ago

Been watching bitcoin and crypto for years thinking why didn't I get in when it was cheap. Finally bought some last month. They say the market is crashing but my portfolio is up a couple hundred dollars in value. I'm not rich off it yet but t...

More / Etherum Reddit - 3 years ago

Only 7 days for the Bitcoin Pizza Day!

On May 22, 2010 Laszlo Hanyecz made the first ever Bitcoin transaction, trading 10,000 bitcoin for two large pizzas. Now that Bitcoin is reaching widespread global adoption, many Bitcoiners like to celebrate this milestone occasion by sharing some sl...