What is Bitcoin

Posted by wail mohammed
10
Sep 3, 2016
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Bitcoin is a global, peer-to-peer value transfer and transaction protocol. Transactions are verified by networked nodes and published on a public ledger called the blockchain. A bitcoin refers to a unit of account on this ledger, a digital currency created and held electronically that is produced by people and businesses running computers all around the world. This process is referred as ‘mining’ and consists in using computing power in the distributed network to solve mathematical problems. In this sense, the Bitcoin network is decentralized and completely transparent thanks to the Bitcoin blockchain which stores details of every single transaction that ever happened in the networking.

Bitcoin was released in 2009 as open-source software by a mysterious developer called Satoshi Nakamoto. Although many have attempted to find the real identity of the founder of Bitcoin, the mystery still remains unsolved. Bitcoin really started gaining international attention as a new global currency in 2012. In 2015, attention switched to the blockchain technology with major banks and institutions openly unveiling their interest in the technology as well as experimenting with it

However, public knowledge is still low as 64.9% of Americans are still not familiar at all with bitcoins, according to a survey conducted by Coincenter in April 2015. Only 4.5% of the general American population said they have used the digital currency.

As of today, Biggs estimates that around 100,000 merchants around the world are accepting bitcoin as a means of payment. The largest firms that have shown support for the digital currency include Microsoft, Overstock.com, Expedia and Dell.

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BR Softech
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Mobile game development company

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released

Feb 21, 2024 Like it
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ADS247365 Inc
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ADS247365 is a multi-expert company, we focus on y

Bitcoin is a form of digital currency that uses blockchain technology to support transactions between users on a decentralized network. New Bitcoins are created as part of the mining process, as a reward to people whose computer systems help validate transactions. Buying Bitcoin exposes you to a volatile asset class.

Feb 21, 2024 Like it
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Beyond Eleven
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Fresh Money Making Ideas

Please read my articles and learn How to Make Passive Income on your Crypto Assets.

Feb 21, 2024 Like it
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Brino Games
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The Treez of Games

I read your article. it is very helpful for me. Thanks for sharing

Feb 21, 2024 Like it
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Acto Script
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IT Solutions and Services Provider Company

Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight.

Feb 21, 2024 Like it
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