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 - 2 years ago

Do you truly believe Bitcoin will be #1 forever?

“Only buy BTC (and ETH)” is pretty common advice around here. Most people will tell you that BTC is the crypto king that’s too big to fail. It’s generally considered the “safest” cryptocurrency. Many think that Bitcoin will always be the top coin (by...

More / Bitcoin Reddit - 2 years ago

What is the bitcoin situation like in Cambodia?

I am moving to Cambodia soon and am interested to know the situation surrounding bitcoin there. Are there decent exchanges available there that allow me to still purchase bitcoin? Am I able to deposit usd to my bank account from an exchange if I sell...

More / Bitcoin Reddit - 2 years ago

Bitcoin tvOS app

Hello bitcoin fam, For those of you with an Apple TV that would like a nice bitcoin ticker with a couple extra goodies: Search on the tvOS App Store “Bitcoin TV Live”. It’s a small app I made, it’s free. Real time ticker, market info, and live block...