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.
More / Bitcoin Reddit - 2 years ago
For reference, my dad is very smart. He has been in investment banking for about 30 years now and done incredibly well for himself. I have tried to explain the idea of bitcoin to him for some while now, but he just wouldn't listen. After pesterin...
Bitcoin News / Google News Bitcoin - 2 years ago
First Mover Asia: Centralized Exchange Tokens Post Solid Gains in January Despite SEC Interest; Bitcoin, Ether in the Red.& & CoinDesk
More / Bitcoin Reddit - 2 years ago
Have you noticed this? If you are against Bitcoin. Here is your chance: explain in the comments why you are against it. submitted by /u/Wise_Moon [link] [comments]
Bitcoin News / Bitcoinist - 2 years ago
Bitcoin (BTC) has seen an exponential increase in demand in Nigeria as the country’s central bank encourages the population to switch to digital cash. As a result, the price of Bitcoin has escalated tremendously above global market levels.
Th...
More / Bitcoin Reddit - 2 years ago
Title. I’m signing my new lease for an apt and had to pay a few months rent to the management company. My bank put my payment on hold since I never sent money to this account before. Nobody can block my bitcoin payments. Long live BTC. subm...
Bitcoin News / Google News Bitcoin - 2 years ago
Morgan Creek’s Mark Yusko Says Things Close to Getting Fun for Bitcoin (BTC) – Here’s His Outlook& & The Daily Hodl