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Category: Bitcoin Basics

How to mine for Bitcoins

How to mine for Bitcoins

Bitcoin is a new currency and digital payment system invented in 2009 by an unknown person, or group of persons under the name Satoshi Nakamoto. The transactions are made without an intermediary, that is, between users directly. On the other hand, bitcoin mining refers to that process of adding transaction records to Bitcoin’s public ledger of previous transactions by solving mathematical problems. These transactions are known as the blockchain. Therefore, to actively trade with bitcoin you need to understand how…

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A Beginner’s Guide to Bitcoin

A Beginner’s Guide to Bitcoin

The invention of Bitcoin came as a peer-to-peer system to facilitate online payments that don’t call for a trusted central authority. Bitcoin was invented in 2008 and since then, it has grown into a currency, technology, a community of users, and an investment vehicle. This post will explain what Bitcoin is, how it works, and how it can improve your life. So, What Is Bitcoin? The challenging part of any digital payment system is to prevent one from being able…

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A Close Look at the History of Bitcoin

A Close Look at the History of Bitcoin

Before getting into the history of bitcoin, let’s explain the concept to you. Bitcoin is the most widely used cryptocurrency in the world. For your information, crypto currencies are currencies that are created and managed using cryptography; this feature separates them from the conventional currencies, which rely on central authorities. The start There’s a legend, which suggests that the concept is a brainchild of pseudonymous Satoshi Nakamoto. It is believed that Nakamoto created bitcoin based on ideas derived from the…

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Bitcoin News-All you need to know

Bitcoin News-All you need to know

The world of business has greatly been revolutionized with respect to digital technology. Business transactions are easily conducted using tel-conferencing, emails and social media platforms. In addition digital currency has become common in business. A good example of digital currency is Bitcoin. In this article, key focus will be to demystify the concept of Bitcoin, how it operates, frequently asked questions (FAQ) and most significantly how it has transformed online marketing and shopping. The concept of Bitcoin Bitcoin is a…

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Bitcoin Usage

Bitcoin Usage

A bitcoin is a simple virtual or cryptocurrency that functions as a form of decentralized and peer to peer bartering card (means of exchange). Herein is a simple guide on how to use bitcoins. SENDING Sending bitcoins is actually a very simple process that involves three easy steps. First, as the sender, you copy and paste the recipient’s address. Then you choose the amount you would like to transfer after which you click send. This method may seem traditional at…

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Four Major Reasons Why People Should Buy Bitcoin

Four Major Reasons Why People Should Buy Bitcoin

Why buy Bitcoin? This is a question many people have been asking themselves since this relatively new form of currency began to hit the mainstream. However, many people don’t understand why they should invest in Bitcoin. Here are four good reasons why it’s worth to buy this virtual currency. 1. Their Prices Are More Stable Than Currency In the last couple of years, Bitcoin has demonstrated unparalleled stability as a financial option. The stability has created and increased trust in…

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The 5 Greatest Moments in Bitcoin History

The 5 Greatest Moments in Bitcoin History

Bitcoin was invented by Satoshi Nakomoto who published news about his invention at the end of October, 2008. Bitcoin was implemented three months later as the first digital currency. Bitcoin is a ?peer to peer’ electronic cash system, popular among the more technologically aware as well as the economically progressive. Take a look at the 5 greatest moments in Bitcoin history. 1.The beginning of Bitcoin Everything about money changed with the invention of Bitcoin and financial transactions and banking have…

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What Are Bitcoins

What Are Bitcoins

If you are wondering what are bitcoins, you are not alone. Bitcoin is a peer-to-peer crypto-currency payment network that operates on a cryptographic protocol. They can be used to buy stuff electronically just like conventional dollars, pounds, euros, or yen. But the thing that makes bitcoin different to conventional cash is that it is not decentralized. With paper money, the government decides when to print cash or distribute them. Bitcoins are produced by people and businesses running computers across the…

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What is Bitcoin

What is Bitcoin

Bitcoin is a kind of digital currency, which has been developed and held electronically. Unlike most other currency types we use in our daily life, Bitcoins are not printed. They get produced by businesses and people using a software program. The answer to what is Bitcoin will remain incomplete without talking a bit about its origin. Bitcoin is the first cryptocurrency to be made available for public use. For your information, cryptocurrencies are digital currencies that involve use of encryption…

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