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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Mystery Whale Returns by Moving $35 Million — Miner Transfers 1,000 ‘Sleeping Bitcoins’ from 2010

Two months after the mystery mining whale from 2010 transferred a string of 20 block rewards with 1,000 bitcoin on March 23, it seemed as though the entity was finished, after spending 10,000 bitcoin total. However, it took 78 days for the whale&rsqu...

I’m so proud of the Bitcoin Community

During the past few weeks we have seen the richest man in the world (Elon musk) attack bitcoin and the opportunity for those less fortunate than himself to seek and attain their own financial independence and sovereignty. Who stood up and fought back...

Bitcoin price gains 6% as Bloomberg analyst favors $40K over $20K next

The odds are on for a continuation to $40,000, Mike McGlone argues, but not everyone is so sure. Bitcoin (BTC) is “more likely” to hit $40,000 than $20,000, Bloomberg...

Miami Mayor: Miami Workers to Receive Salaries in Bitcoin — Francis Suarez, the Mayor of Miami, revealed in an interview with Forbes that Miami wants to take Silicon Valley’s place as the friendliest place for BTC in the US.

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Miami Mayor: Miami Workers to Receive Salaries in Bitcoin

submitted by /u/Monster_Chief17 [link] [comments]

Bitcoin Diamond (BCD) Jumps 57% in 24 Hours: Where to Buy

Bitcoin Diamond’s trading volume has skyrocketed by 741% over the last day &- could it be preparing for further moves? Bitcoin Diamond is one of the many hard forks of Bitcoin. As Bitcoin was developed using open source software, anyone can...

Dogecoin frenzy forces UK fund manager to offload $1.1-billion Bitcoin stash

Ruffer revealed on Tuesday that it had sold its $600-million position for $1.1 billion, citing concerns over excessive speculation across the cryptocurrency market. Un...

El Salvador Becomes First Country to Approve Bitcoin as Legal Tender

The Bitcoin Law mandates that all businesses must accept Bitcoin payments if they can do so. Making Bitcoin legal tender has anchored El Salvador into the history books El Salvador has approved a law adopting Bitcoin as legal tender, becoming the fir...

The “Nobody Uses Bitcoin” Narrative Evolution Over the Time. What will Bitcoin opponents say now that several Central and South American countries are about to embrace the Bitcoin revolution?

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El Salvador’s Bitcoin Bill Gets Congressional Approval, But Skeptics Voice Their Concerns

El Salvador’s Bitcoin Bill was first publicized last weekend during the Bitcoin Miami 2021 Conference. It proposes to regulate Bitcoin as legal tender, therefore integrating it with the country’s official currency, the U.S dollar. Yesterd...

Bitcoin and Ethereum transaction fees sink 95% from all-time highs

Reduced network activity is resulting in lower fees for Bitcoin and Ethereum as both recede heavily from their all-time highs. The cost of using the Bitcoin and Ethere...