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

The future is looking bright for BITCOIN????

Chinas deconstruction of BTC mining, is IMO hugely bullish for the future of BTC. Why? Accusations of centralising mining, 65% of hash rate produced in China, are removed, and also FUD associated with the possibility of BTC been at risk from state at...

More / Bitcoin Reddit - 3 years ago

Bosnia Adopts Bitcoin as Legal Tender

Local newspaper just reported a breaking story: Bosnia has become the second country to adopt bitcoin as legal tender. Lawmakers voted in favor of the Bitcoin Legal Tender Law, receiving 51 out of 75 of the legislature’s vote. Developing story, stay...

More / Bitcoin Reddit - 3 years ago

Only July 1st, theoretical inflow potential for crypto assets in the order of EUR 350bln could arrive thanks to a new law in Germany permitting Spezialfonds to invest up to 20 % of their portfolios into crypto assets like Bitcoin

https://www.mondaq.com/germany/fin-tech/1069926/germany-introduces-a-new-law-that-allows-funds-to-invest-into-crypto-assets When the new Fund Location Act (Fondsstandortgesetz) comes into effect on 1 July 2021, domestic special funds (Spezialfonds) i...