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.
Cryptocoins News / The Cointelegraph - 2 years ago
Despite restructuring into a hosting firm for Bitcoin mining, Greenidge still owns about 10,000 miners, maintaining a capacity of 1.1 EH/s. Bitcoin (BTC) mining compan...
Bitcoin News / Bitcoin.com - 2 years ago
Bitcoin fell below $23,000 on Jan. 31, following a recent move to a five-month high over the weekend. Market volatility has since increased, as traders prepare for a big few days of economic data from the United States. The conference board will rele...
Cryptocoins News / CoinJournal - 2 years ago
Bitcoin is in a 10-day long consolidation
The range is extremely tight
Market participants await central banks to move
The past ten trading days have been extremely quiet for Bitcoin. It moved in a tight range, trading as high as $24k and as low a...
Bitcoin News / Bitcoin Magazine - 2 years ago
In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.This is an opinion editorial by Joakim Book, a research fellow at the American Institute for Economic Research and contributor to Bitcoin Magazine, HumanProgres...
Bitcoin News / Bitcoinist - 2 years ago
Institutional investors and high net worth (HNW) individuals’ adoption of crypto has dwindled because of the 2022 bear market. But before the start of the bear market, 2021 saw the rise of millionaires and institutional investors putting capita...
Cryptocoins News / Blockchain - 2 years ago
On Jan. 21, Bitcoin introduced "Ordinals," an NFT-like programme. However, meme-inspired JPEGs are filling Bitcoin blockspace. (Read More)
Cryptocoins News / Blockchain - 2 years ago
Bitcoin mining income dropped to $13.6 million on Dec. 28, 2022, putting pressure on mining businesses. (Read More)
More / Bitcoin Reddit - 2 years ago
I overhead a friend speaking about bitcoin, he stated that what bitcoin needs is an app like PayPal, but for BTC. The ability to spend money quickly and easy, with full privacy. I think an issue with BTC is an average person who doesn't know any...
Bitcoin News / Bitcoin.com - 2 years ago
Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circle...