A Summary of Bitcoin

Bitcoin Logo

Current Price – $9678.39 US Dollars

Homepage – www.bitcoin.org
Blockchain Explorer – blockchair.com/bitcoin
Forum – bitcointalk.org
Twitter – @btc
Facebook – bitcoins

  • Symbol – btc
  • Hashing Algorithm – SHA-256
  • Block Time In Minutes – 10
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 or banks. Bitcoin is design 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.

Latest Bitcoin News

  • Jailed drug dealer lost £46,000,000 Bitcoin fortune after codes were thrown out 22 Feb 2020 22:56 Metro Cafe Clifton Collins printed the access codes and hid the paper in a fishing rod case (Picture: Reuters)A jailed Irish drug dealer lost his £46 million Bitcoin fortune after his ex-landlord binned the paper he’d printed all the access codes on. Clifton Collins, …
  • Drug dealer loses £46m bitcoin fortune after misplacing fishing rods hiding codes 22 Feb 2020 22:51 Mirror A drug dealer has lost his £46million bitcoin fortune after he wrote the access codes on a piece of paper he hid with a fishing rod - which has now gone missing. Clifton Collins, 49, from Dublin, reportedly bought most of the bitcoin between 2011-2012 …
  • Best Bitcoin Exchanges for Beginners 22 Feb 2020 18:59 MarketWatch.com Feb 22, 2020 (KD Market Insights via COMTEX) -- Bitcoin connections or exchanges are an online open market where cryptocurrencies are sold and bought. The supply and demand of the price of bitcoin are determined, that is, buyers pay for bitcoin based on …
  • Oil prices now more volatile than Bitcoin 22 Feb 2020 12:55 Ghana MMA Business News of Saturday, 22 February 2020 Source: coindesk.com 2020-02-22 Historical volatility measures how much prices have varied in the past For skeptics and traditional market investors, bitcoin (BTC) is synonymous with extreme bouts of price …
  • Jailed Irish drug dealer faces losing his ill-gotten £46m bitcoin fortune 22 Feb 2020 10:49 Charleston Daily Mail Irish drug dealer loses his £46MILLION bitcoin fortune after losing the piece of A4 paper with the access codes Clifton Collins, 49, printed the codes on an A4 sheet of paper to remember them He then stashed the sheet in the cap of a fishing rod case at …

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