Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: ecoin-anakris on January 09, 2019, 02:18:27 PM
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Bitcoin is a digital currency, created and held electronically. Unlike any normal currency, Bitcoin is controlled by no one. Bitcoins are not printed, they are produced by people who run computers all over the world, using software that solves mathematical problems. You will learn some Basic Bitcoin Tutorial Here (https://ecoin4dummies.com/bitcoin-bitcoin-tutorial/).
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According to my simple understanding. Bitcoin like machines and humans are the operators. Both need. basically all related. between humans and bitcoin. there is a need to know that bitcoin without humans also has no meaning. but on the contrary humans without bitcoin, will stay alive with other business fields. so it's just a programming problem, because the technological advances from humans that are very sophisticated are trying to create one extraordinary thing, bitcoin. become more advanced than in previous years. and that's right if bitcoin is the vehicle and the person who runs it.
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Bitcoin is a digital asset developed in 2009 by someone with a pseudonym Satoshi Nakamoto. This digital asset is like gold, but is only available in the digital world.
Instant transfer peer to peer.
Peer-to-peer itself means Bitcoin runs without having a central server. The storage server is decentralized and distributed — divided into various servers run by each user connected to the network.
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A very good attempt in reviewing Bitcoin for the benefit of the newbie and veteran traders. Put more effort in your work as the forum grows.
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It's far behind if we continue to discuss the meaning of Bitcoin because there are so many people who give meaning to BItcoin.
Then, for now it's better to look for Bitcoin than to interpret the meaning of Bitcoin.
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Bitcoin is a digital token with no physical backing that can be sent electronically from one user to another, anywhere in the world. A Bitcoin can be divided out to eight decimal places, so you can send someone 0.00000001 Bitcoins. This smallest fraction of a Bitcoin the penny of the Bitcoin world is referred to as a Satoshi, after the anonymous creator of Bitcoin. This all gets confusing, because Bitcoin is also the name of the payment network on which the Bitcoin digital tokens are stored and moved. Unlike traditional payment networks like Visa, the Bitcoin network is not run by a single company or person. The system is run by a decentralized network of computers around the world that keep track of all Bitcoin transactions, similar to the way Wikipedia is maintained by a decentralized network of writers and editors. The record of all Bitcoin transactions that these computers are constantly updating is known as the blockchain.
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It's far behind if we continue to discuss the meaning of Bitcoin because there are so many people who give meaning to BItcoin.
Then, for now it's better to look for Bitcoin than to interpret the meaning of Bitcoin.
I agree with you. we can start looking for and collecting bitcoin by walk time we will know what is bitcoin
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Bitcoin is the best crypto coin to invest because this coin is so valuable and profitalble among all crypto coin now.This has been consistently the number one crypto coin and been gaining popularity more.
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Bitcoin is an online virtual digital currency which is first invented in 15 July 2009 by team Satoshi nakamoto to improve bank interrupt.
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Bitcoin is a new cryptocurrency created in the year 2009 by Satoshi Nakamoto. Bitcoin can be used to make International Payment very easy.
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Currently, Bitcoin is the most highly profitable, but at the same time very risky investment instrument. This cryptocurrency can bring both a big profit and a big loss. Her course to predict even in the short term is very difficult. This is what makes Bitcoin different from ordinary currencies.
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Bitcoin mining refers to the process through which new Bitcoins are created and given to computers helping to maintain the network. The computers involved in Bitcoin mining are in a sort of computational race to process new transactions coming onto the network
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Bitcoin is a digital currency, created and held electronically. Unlike any normal currency, Bitcoin is controlled by no one. Bitcoins are not printed, they are produced by people who run computers all over the world, using software that solves mathematical problems.
Regarding its use, Bitcoin is no different from other currencies – you can use it to purchase products and services online, just like with any other currency. Only that, you can also easily transfer it from one side of the world to the other, in less than 10 minutes, and with fees that are insignificant comparing to today’s banks. Bitcoin is a limited coin, on its peak Bitcoin will hold only 21 million bitcoins. As US dollar consists of cents, each bitcoin consists of Satoshis. One bitcoin equals a million Satoshi (0.0000001 bitcoin = 1 Satoshi).
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Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017
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Released as an open-source software in 2009, Bitcoin is often credited as the world’s first cryptocurrency and is best defined as a digital currency that only exists electronically.
Bitcoin is decentralized, meaning it doesn’t have a central issuing authority or political institution that controls the amount of bitcoin in circulation. But the Bitcoin platform is far from anarchy.
The whole process is pretty simple and organized: Bitcoin holders are able to transfer bitcoins via a peer-to-peer network. These transfers are tracked on the “blockchain,” commonly referred to as a giant ledger. This ledger records every bitcoin transaction ever made. Each “block” in the blockchain is built up of a data structure based on encrypted Merkle Trees. This is particularly useful for detecting fraud or corrupted files. If a single file in a chain is corrupt or fraudulent, the blockchain prevents it from damaging the rest of the ledger.
Instead of relying on a government to print new currency, Bitcoin’s blockchain programming handles when bitcoins are made and how many are produced. It also keeps track of where bitcoins are and ensures the transactions are accurate.
There are currently about 17 million bitcoins in circulation. There isn’t a central regulatory agency or government controlling the supply of bitcoins, meaning the supply is controlled by design. The total supply to ever be created is capped at 21 million bitcoins.
This cap raises an argument that Bitcoin could have problems scaling. However, since Bitcoin is essentially infinitesimally divisible (meaning users can transfer as little as 0.00000001 bitcoins), this doesn’t really create a scaling issue. The magic number of 21 million is arbitrary.
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Satoshi nakamoto is invented bitcoin in 2009 July 15. Bitcoin is a digital currency which is binary in nature. When bitcoin was first invented then 1 bitcoin equal to 6 cent.
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Bitcoin is either virtual currency or reference to the technology. You can make transactions by check, wiring, or cash. You can also use Bitcoin (or BTC), where you refer the purchaser to your signature, which is a long line of security code encrypted with 16 distinct symbols. The purchaser decodes the code with his smartphone to get your cryptocurrency. Put another way; cryptocurrency is an exchange of digital information that allows you to buy or sell goods and services.The transaction gains its security and trust by running on a peer-to-peer computer network that is similar to Skype, or BitTorrent, a file-sharing system.
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bitcoin is a digital currency that can be used to make payments and with bitcoin you can make transactions quickly and safely.
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Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether. The physical Bitcoins you see in photos are a novelty. They would be worthless without the private codes printed inside them.
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Bitcoin means different things to different people. For some, it is a future of freely moving currency untied to any central bank. To others, it is a purely digital entity of questionable value and dubious origin. But what is Bitcoin, in the most basic sense? In most casual conversations, you can get away with knowing that bitcoin is, basically, a digital currency. But of course, it’s much more complicated than that. In fact, it is two much more complicated things.
Bitcoin has been with us since 2009, when a person (or group) under the pseudonym Satoshi Nakamoto introduced a platform (Bitcoin, uppercase) that hosts a digital currency (bitcoin, lowercase). Bitcoin the platform is built on the concept of “proof of work” data that is expensive and time-intensive to produce but can be easily verified. In Bitcoin’s case, proof of work is created through the process of “mining.” To mine a bitcoin, a computer must complete a complicated algorithm, essentially going through the work of an extensive calculation in exchange for some newly minted currency. That piece of digital currency is worth whatever the market decides through supply and demand. Transactions are connected to a user’s Bitcoin address, which is stored on its general ledger, called the blockchain. If that address is linked to a real identity, transactions can be traced back to the user; if it isn’t, they can’t. This relative anonymity makes the platform appealing for things like incognito purchases over the internet. A key component of Bitcoin’s blockchain is the fact that it is an open, distributed ledger. Through the distributed nature of this ledger, the transactions on the blockchain are verified by the consensus of every member, offering security and trust without a third-party overseer. One of the most important things to keep in mind when thinking about what Bitcoin (or bitcoin) is: there is no single answer. Bitcoin is a platform that hosts a digital ledger on which people can mine, store and trade bitcoins, a digital form of currency earned through a computer algorithm and tied to no central authority.
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Bitcoin is a currency existing electronically, it is not controlled by a central body, that is why it has a decentralized nature. Transactions cannot be traced, and you are responsible for your security.
Most people see it as an investment asset, and I see it as the currency for the future.
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Bitcoin is nothing but simple binary or digital code associated with higher market value. Satoshi nakamoto sir is a real hero of bitcoin invention.
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Bitcoin is a virtual cryptocurrency which is invented by team Satoshi nakamoto in 2009 July 15. Now it is the top most favourite coins in the cryptocurrency market.
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Satoshi nakamoto team invented a magic coins which is named bitcoin in July 15, 2009. This coins dominated all cryptocurrency and becoming more and more popular day by day.