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

Miss El Salvador Features Bitcoin in Miss Universe 2023

The Miss Universe contestant from El Salvador this year has surprised viewers by featuring bitcoin as part of her national costume. El Salvador has adopted the cryptocurrency as legal tender and has passed a new regulatory framework for the issuance...

More / Bitcoin Reddit - 2 years ago

Due dilligence on Canadian Bitcoin ETF

How would you do your due diligence on the Canadian bitcoin ETF? BTCX-B BTCX-U BTCC EBIT As far as I know it is the only way you can put bitcoin in a tax shelter accounts (TFSA or RRSP for Canadian residents). I know, not your keys, not your coins,...

More / Bitcoin Reddit - 2 years ago

I heard about bitcoin from a 13 year old in 2012.

I was a cable installer and this kid was following me around the house while I was troubleshooting their cable connection. He started talking to me about bitcoin and digital currency. He said it was $10 and that one day it was going to be worth a lot...