Bitcoin 101


Who is investing in Bitcoin

Bitcoin whales undergoing institutional accumulation?

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The cryptocurrency market may have been experiencing sideways for the past months, yet just like any other industry, it is slowly getting the attention of big players. In fact, according to a survey by Fidelity Investments, “about 22% of institutional investors already have some exposure to...

Where you can use your Bitcoins?

Where you can use your Bitcoins?

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The reason why Bitcoin didn’t replace traditional payment methods The creators of Bitcoin wish it will become a substitute for the majority of centralized payment methods, but currently, this coin is used for long-term investments more often than for anything else. It seems that BTC’s fate was...

Bitcoin Whales

Money or life. Bitcoin whales and fraudsters: who are the first and how the second steal their mo...

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With the advent of the blockchain and the first cryptocurrencies, many began to be interested in this area. After some time, many economists, scientists talked about the prospects of this trend and began to predict huge profits for the crypto community. Now, when Bitcoin already costs more than...

What can you buy with Bitcoin?

What can you buy with Bitcoin?

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Money has its own functions. One of the currency’s functions is to be a mean of payment. With the development and growth of popularity of the cryptocurrency, they also began to acquire similar features of their “ancestors”. Now with a Bitcoin, you can buy games and applications, plane...

What is Bitcoin?

What is Bitcoin?

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The invention of the Bitcoin Everything started in 2008. Unknown man, who called himself Satoshi Nakamoto decided to bring Nick Szabo’s idea about digital currencies back to life. He created Bitcoin, which became the most popular and valuable crypto coin. No one knows, who Satoshi Nakamoto is and...

The very first time you could hear the word “Bitcoin” was the 2008 year when Satoshi Nakamoto introduced it as a means of transferring money digitally. In 2019 we still don’t know who is Satoshi Nakamoto (and if he is a man or a group of people), but I’m sure everyone heard about his invention at least once.

Bitcoin is a cryptocurrency based on blockchain technology, which can be called simple digital money if there weren’t little differences.

The first difference from digital fiat money is that Bitcoin is decentralized. What does that mean? Bitcoin is not under one institution’s control, it is supported by a group of coders and it is run by an open network of computers from all over the world. The second difference is that the special algorithm controls the supply of the Bitcoin. The third is that there isn’t any validator to identify anyone, who are making transactions with Bitcoin. So all your actions remain anonymous. The fourth: You can not modify your Bitcoin transaction after it’s done. This happens because Bitcoin doesn’t have any central controller, who can decide to return money or do any other action after one is already done.

The process of earning Bitcoins is called mining. In the beginning, everyone with a simple computer could take part in this process, but nowadays it has grown and you’ll need special technologies to mine a Bitcoin. You can buy Bitcoin from different market places, which are called “bitcoin exchanges”. Storing your Bitcoins is easy due to “digital wallets”. It’s also easy to make transactions with Bitcoin, cause it’s the same thing as with digital fiat money. So, you can do it with special mobile apps or computers.