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 / Etherum Reddit - 3 years ago

As a Bitcoin holder, Eth makes complete sense to me.

I don’t understand why I continue to see Bitcoin holders try and bash Eth, saying it’s a shitcoin/alt coin and will never replace Bitcoin (as if replacing Bitcoin is even possible at this point. It isn’t). I also don’t understand why I see Eth inves...

More / Bitcoin Reddit - 3 years ago

Huge amount of anti-bitcoin troll accounts

I don't know who is behind this massive surge of anti-bitcoin posts, spreading blatant lies and misinformation, also trying to suppress any good news. We've seen also massive downvoting on most positive posts. This is bullish and means we are...

by COINS NEWS - 3 years ago

Bitcoin, Crypto and Wealth Inequality

I'm a recent crypto enthusiast. I've loved getting involved in the community and believe crypto is certainly a force for possible good in the world. However when watching snippets of the conference, something hit me that I think isn't dis...