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

Is now the time to buy Bitcoin?

Newbie here. I’m currently trying to start investing in crypto and I’ve seen that the bitcoin price has been going down the last days. Do you think it would be worth it to get some dip? If so how much? Thanxxx submitted by /u/leandrofig...

by COINS NEWS - 3 years ago

61 BTC were traded last week in Venezuela only using LocalBitcoin, a drop of 2 BTC from last week. That is around 11% of the total traded amout in the world (61 of 533) at LocalBitcoin. One USD is around 3,000,000 Bs. (Bolivares ISO VES, our currency) cur

Hi guys, Venezuelan living here. Yes, one BTC trades at 140,000,000,000 Bs. Binance is doing a hard marketing work here, even with instagram/facebook ads in spanish targeted to us. I expect LocalBitcoin traded amount to drop more, sadly Binance doesn...

More / Bitcoin Reddit - 3 years ago

Am i right about Bitcoin?

So if im right with bitcoin it works like this that basically the Blockchain is just a long history of bitcoin Adresses trading botcoin to each other, so when im buying Bitcoin im giving the Seller my fiat currency so that he trades it to me. Then th...