While Bitcoin has a lot of strengths, there are some weaknesses for the cryptocurrency as well. We're going to take a look at both the pros and cons of Bitcoin so that you can get a better understanding of where this virtual currency is going to head in the...
Unlike the financial systems in place around the world, bitcoins are created at a fixed rate - one that was decided on when Bitcoin first launched. Because of this, Bitcoin mining is very competitive. The scarcity of bitcoins is gradually making them more and more valuable. With a finite...
Next, we're going to take a more indepth look at how to mine bitcoins, including some technical information. As you know, Bitcoin mining refers to confirming existing Bitcoin transactions (blocks) by figuring out complex math problems. Once confirmed, they become a permanent part of what's known as the block...
Understanding how Bitcoin works may be interesting to some, but you're probably wanting to know how you can acquire some bitcoins of your own. There are actually a few ways you can legally get bitcoins - no matter where you live in the world. As long as you have...
HOW DOES BITCOIN WORK? Let's start by looking at the different things you need to get a cryptocurrency working. We'll start with the basics and then move into more specifics about what you'll need to get started. ● The Transaction - The first thing you need to think about with a...
Bitcoin is called virtual currency, but a better term is cryptocurrency. Unlike physical money, there are no coins or paper money officially produced. No government entity decides how much and when to release it into the world. Bitcoins are created digitally by people as they solve complex math problems...
The idea of Bitcoin was created by an anonymous programmer who goes by the name “Satoshi Nakamoto.” The idea came to this person back in 2008, when the world economy was looking at a major recession. Satoshi first registered the bitcoin.org domain name then went on to release a...