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

Buying Bitcoin in Germany/Europe

I found a website bitcoin.de (the fee for buying should be in total ca. 1% of the amount shared between buyer and seller) I am also aware of tax if bitcoin will be sold before 1 year time. After 1 year there will be no tax on it. Anything other in t...

by COINS NEWS - 3 years ago

64 BTC were traded last week in Venezuela using LocalBitcoin (only). These 68 BTC were 7,441,000,000,000 Bs. (Bolivares not "BS", Venezuelan currency ISO VES) . Monthly minimum wage is around 3 USD MONTHLY. One BTC trades around 103,000,000,000 Bs. Binanc

Just updating this week number, as you know I'm Venezuelan living here. We are a little better volume (around 60-70 BTC weekly) months ago we were at 40-50 BTC. A year ago around 400 BTC were traded weekly! When compared to other countries: Arge...

by COINS NEWS - 3 years ago

Bitcoin shorts rapidly dropping over the weekend.

A day ago a post on r/bitcoin showed the immensely high amount of bitcoin shorted, this of course sparked discussion on whether bitcoin would drop below 30k. However, now we see a huge amount of bitcoin being covered: https://www.tradingview.com/symb...