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 - 2 years ago

Bitcoin analysis

So I’m no ANALyst but the long term charts for Bitcoin are looking pretty bullish. Strong candle crossing above the 50 day moving average on the five year chart and there was a strong bull flag running above the 200 and 50 day moving averages on the...

Cryptocoins Exchanges / Binance - 2 years ago

Total cost of trading Bitcoin future

Hello friends. I am following crypto market since last 6 months now. Seeing volatility of crypto market, I would like trade future of Bitcoin. However I am wondering how much cost it would be to trade Bitcoin future. I have checked Binanace, Kucoin,...

More / Bitcoin Reddit - 2 years ago

Help me explain Bitcoin to my 56 year old Father.

Pops doesn’t understand the corns one but. Have tried to explain it all to him a few times but he said he could really use a visual to break down how it all works. If any of y’all have some resources explaining POW or the network effect in a visual w...