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.
Bitcoin News / Bitcoin Magazine - 2 years ago
Using the βchoose your fighterβ paradigm popularized by video games, we can compare Bitcoin and fiat and determine a winner.This is an opinion editorial by Tim Niemeyer, co-host of the Lincolnland Bitcoin Meetup. So...
More / Bitcoin Reddit - 2 years ago
Every Christmas I get asked to explain cryptocurrency to my extended family repeatedly. I love to teach new people, but Iβm not the best at explaining and it takes a while. I was thinking of creating a simple fun app that could explain crypto to any...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bets are increasing on a push higher for Bitcoin and on BTC price action defining the current range as its macro bottom. Bitcoin (BTC) traded nearer $17,000 on Jan. 7...
More / Bitcoin Reddit - 2 years ago
I think of Bitcoin as my additional pension plan. I kind of dca into it and I intend to continue till atleast 2030 when I'll be 57 years old. I figure that will give me a good 10-15 year to enjoy whatever I make. This will take me through 2 halvi...
Bitcoin News / Bitcoin Magazine - 2 years ago
The brunt of the price-based capitulation has already been felt, while the real pain ahead is a waiting game for the market to finally turn around.The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine's premium marke...
More / Bitcoin Reddit - 2 years ago
My friend stole 10 Rolex watches from a nearby shop. Yesterday, they caught him. Now, he is requesting the government to allow him to sell those watches for his lawyer's fee to fight against the shop. If this sounds ridiculous, here is SBF'...
Bitcoin News / Google News Bitcoin - 2 years ago
Thai SEC Launches 'Crypto Academy' to Help Digital Asset Investors β Regulation Bitcoin News& & Bitcoin News
More / Bitcoin Reddit - 2 years ago
100 years from now adventure movies will be about people going on treasure hunts to find metal-stamped private keys hidden since today's time, similar to today's movies of people using clues and maps to find pirate's treasures. Some might...