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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by COINS NEWS - 3 years ago

Now is the time to buy Bitcoin

The time to buy is when everyone is freaking out and calling for ever lower prices. I know that it's difficult to buy when fear is rampant, but that's why it's important to maintain a long-term perspective. Many people wish that they woul...

More / Bitcoin Reddit - 3 years ago

Mid May 2020 and Mid May 2021 for Bitcoin

I remember mid May 2020 like yesterday. The price of Bitcoin went from $9,900 down to $8,600 in a few days. A lot of people I told to invest in Bitcoin right after COVID-19 started got angry with me - many pulled their money out of it and walked away...

More / Bitcoin Reddit - 3 years ago

The Best Time To Buy Bitcoin....

...IS NOW! With the MSM inflation report that came out this week, the establishment finally have been forced to admit what we bitcoiners have known is going on for a while now. In due time, they will be forced to learn that the best way to protect ag...