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.
More / Bitcoin Reddit - 2 years ago
I run a small business. In my industry, the pay isn't always great. Some projects you get a hit and other times it's a hard miss. You'd think with all the work we do, the amount of hours, days and weeks committed to servicing a project, t...
More / Bitcoin Reddit - 2 years ago
How many times have you read something like this, โBitcoin uses as much electricity as Malaysia or Sweden or Denmark or Chileโฆ.โ. What a bore. Have you ever wondered, however, why the comparison is to countries? Why donโt they ever tell you what woul...
More / Bitcoin Reddit - 2 years ago
Now what? Keep on scrimping and saving and dca-ing, thatโs what. submitted by /u/Moar_Donuts [link] [comments]
More / Bitcoin Reddit - 2 years ago
The Bitcoin price has gone up a lot over the past year, so why not prove that the new economy is better than the old one by giving some of your gains to worthy causes? This year, /r/Bitcoin is a sponsor of The Giving Block's #BagSeason event, and...
More / Bitcoin Reddit - 2 years ago
I'd love to hear some stories about how Bitcoin is helping you. submitted by /u/plumberoncrack [link] [comments]
More / Etherum Reddit - 2 years ago
Noob here. I have been stalking for several weeks these subreddits because these are my favourites and I must say the Ethereum sub it's way more technical and fun to read than all others. Users here are more community open, there are many project...
Cryptocoins News / The Cointelegraph โ - 2 years ago
The Series B builds off 2TMโs massive $200 million SoftBank-led raise in July, which catapulted the company to a $2.1 billion valuation. 2TM, the parent company of Bra...
Cryptocoins News / The Cointelegraph โ - 2 years ago
โCBDC would be part of an effort to address the use of crypto in financial transactions,โ Central Bank of Indonesia assistant governor Juda Agung said. Central bank di...
More / Bitcoin Reddit - 2 years ago
I wanted to get peoples opinion on this. Many people ask whatโs the difference between being able to divide it infinite amounts and inflation of Fiat currency. There is a big difference as there will only be a circulating supply of 21 million. With...