Sunday, November 19, 2017

BITCOIN

BITCOIN
Bitcoin falls under Cryptocurrency: A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. wikipedia

Bitcoin

A reaction to the 2008 financial crisis, Bitcoin is a digital-currency scheme designed to wrest control of the monetary system from central banks. With Bitcoin, anyone can mint money, provided he or she can complete a complex computation quickly enough. Through a set of clever protocols, that computational hurdle prevents the system from being coopted by malicious hackers. At the...

The history of gold trading can be traced back hundreds of years while bitcoin, a digital currency that uses encryption and works independently of central banks, has been around for less than ten. Nafis Alam, Sunway University and Graham Kendall, University of Nottingham But the cryptocurrency is now starting to challenge gold as the investment of choice. Its meteoric rise is...

Blockchains

In 2008, short of sending a suitcase full of cash, there was essentially just one way for an individual to send money between, say, the United States and Europe. You had to wire the money through a mainstream financial service, like Western Union or a bank. That meant paying high fees and waiting up to several days for the...

The Winklevoss Twins determination to drive the volatile yet robust Bitcoin and other crypto-currency into mainstream with hopes it'll hold value as it crosses over is apparent as displayed in this chart. First things first, how does one get their hands on it? With that, click the image to discover how its $3.4 billion market cap is not quite...

By Aaron Sankin, dailydot.com. It's been a rough few weeks for Bitcoin. After hitting an all-time high of over $1,000 USD in November 2013, the price of the digital currency plummeted to $300 in early 2014, and it doesn't appear to be reversing direction any time soon. Making matters worse, this slide occurred in the absence of any new high-profile security...

Thank you for following our Bitcoin series. Your feedback is of interest, peer-to-peer, send us your thoughts. 9. Combining and Splitting Value Although it would be possible to handle coins individually, it would be unwieldy to make a separate transaction for every cent in a transfer. To allow value to be split and combined, transactions contain multiple inputs and outputs. Normally...

Happy 2015!  He we go.  As you might understand, Bitcoin is a Peer-to-Peer Electronic Cash System, so what does that mean in simple English? To gain a better understanding of this currency, particularly if you are like me and don't quite understand how the almighty dollar works beyond buying stock in tech companies, after a few reads of Mr. Nakamoto's...

Hi again.  We are close to gaining an understanding of BITCOIN's mining process. Let us know what you think. As noted in parts one & two, this extract from Satoshi Nakamoto‘s website is accurate and available to you as well.  We’ve provided links at the bottom of the page for further research/understanding. 5. Network The steps to run the network are as follows: New transactions...

Hi again.  As noted in parts one & two, this extract from Satoshi Nakamoto's website is accurate and available to you as well.  We've provided links at the bottom of the page for further research/understanding. 4. Proof-of-Work To implement a distributed timestamp server on a peer-to-peer basis, we will need to use a proof-of-work system similar to Adam Back's Hashcash, rather than newspaper...

Hello.  As noted in part one, this extract from Satoshi Nakamoto's website is accurate and available to you as well.  We've provided links at the bottom of the page for further research/understanding. Part two to understanding Bitcoin 2. Transactions We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of...

This information from Mr. Nakamoto's web site is as written by Satoshi Nakamoto.  While "I" do no grasp the concept of Bitcoin mining, in sharing this reading,  perhaps others will grasp the concept and pay it forward.  Note, though it is a "peer-to-peer version of electronic cash," with its pervasive growth, Mark Zuckerbergs infamous twins the Winklevoss' initial plan...

Mt. Gox, the troubled Bitcoin exchange, claims it has found 200,000 bitcoins that it had "forgotten" about. The Tokyo-based Mt. Gox, which is now under bankruptcy protection, announced the find on its website. Mark Kapeles, the head of the exchange, said the cache was found March 7. The bitcoins — worth about $118 million at the time of writing — were...