What is Bitcoin?
Bitcoin is money no one can take without your permission. It cannot be inflated away or confiscated, because no one person, company, or government controls it.
Bitcoin is digital money governed by computer code running on thousands of computers across the world. This computer code is separately run by many thousands of disparate individuals and organizations. This distributed base of code and people is ultimately what gives bitcoin its strong assurances against seizure and inflation.
Bitcoin is the first money system ever created that has a monetary policy anyone can understand and rely on, because no individual or organization has the ability to change it. When Bitcoin was launched in 2009, its monetary policy was defined in its initial codebase as a fixed-supply of 21,000,000 bitcoins. Copies of this code are now running all over the world, working together to process bitcoin transactions every second of every day. Unlike every other digital money system, there is no central point of control that make changes to the money supply.
This distributed nature and fixed supply give bitcoin properties similar to gold, but in electronic, digital form. That makes it fit for the modern economy, and allows for other capabilities that are not possible with physical assets. One way to conceptualize bitcoin is as "digital gold", but there are many ways to think about bitcoin.
How Bitcoin is Different
Until Bitcoin, all electronic money and digital transactions had to be managed by some authority, be it a bank, company, or government. Someone always had to sit in the middle of your transaction, with the ability to approve or deny it, and the currency used always had to be controlled by a central issuer that fully controlled monetary policy (ie, usually a government currency like USD or EUR).
This is not the case with bitcoin. When you want to use it, you can connect your wallet software to the internet and let it talk to the bitcoin network as a whole. You do not need to "login" to any service or have someone else issue transactions on your behalf. Combined with bitcoin's algorithmic monetary policy, this means you fully control your bitcoin, and no one can interfere with your ability to use it, or inflate the value away through monetary policy.
Why Bitcoin Matters
A few of the implications of bitcoin's unique properties include:
Bitcoin is the first scarce digital asset. Until bitcoin, anything digital could be easily copied. Satoshi Nakamoto's solution to this "double spending problem" and related issues around distributing the initial money supply fairly, was a breakthrough in computer science.
Scarcity is a key property of money. Until bitcoin, money native to the internet was not possible. With digital scarcity, native digital money can exist. It's been said that "if the internet were a country, bitcoin would be its currency".
Bitcoin is an open protocol, like other foundations of the internet such as t*****/ip (internet data packets) and smtp (email). Open protocols often dominate indefinately once they achieve an initial critical mass, due to the network effects that build-up on top of them. Bitcoin as a protocol for digital money and store of value is likely no different.
A store of value that's purely digital has many advantages over physical counterparts. Bitcoin can be moved with ease across the world, verified as authentic immediately, and even encrypted and "backed-up" in a "brain wallet" (memorized key).
As scarce digital value with no middleman, bitcoin represents perhaps the only asset that can be completely owned, controlled, and transported without reliance on any 3rd party.
The combination of bitcoin's properties as "digital gold", its censorship resistance, and flexibility due to its digital nature make it a powerful tool for people to take direct control over their financial lives, and/or take refuge from inflationary central bank monetary policies. This is why some describe bitcoin as "a peaceful revolution".
Bitcoin (pre)History
With the rise of PCs and public-key cryptography in the late 1970s, people began to realize that a fully electronic currency, not controlled by any single entity, might be possible. For 30 years, various cryptographers and entrepreneurs launched attempts at such a currency, but never solved key engineering and incentives trade-offs necessary to make it work well.
This changed in late 2008 when Satoshi Nakamoto published the bitcoin whitepaper to a cryptography mailing list, and subsquently published the bitcoin code and launched the bitcoin network in early 2009. Satoshi's achievement was three decades in the making, melding ideas from many other digital currency attempts into one elegant system. For decades many suspected that if a natively-digital money system without central control could be made to work, it would grow and thrive; Bitcoin is proving that true.
qiwi bitcoin monero криптовалюта ethereum аналитика bitcoin rpc super bitcoin Tax Treatment Lifts Volatility
bitcoin xt
yandex bitcoin bitcoin расшифровка 5 bitcoin bitcoin freebitcoin ethereum vk ethereum падает monero coin bitcoin sec trezor bitcoin tcc bitcoin bitcoin fpga minergate bitcoin bitcoin пополнение bitcoin книга miner bitcoin bitcoin коды All transactions, including the coinbase transaction, are encoded into blocks in binary raw transaction format.bitcoin capital bitcoin value bitcoin webmoney autobot bitcoin bitcoin серфинг мавроди bitcoin bitcoin комиссия bitcoin бесплатный ethereum supernova bitcoin project ethereum валюта config bitcoin ethereum asics проект bitcoin total cryptocurrency bitcoin комиссия bitcoin мошенники система bitcoin adbc bitcoin android ethereum bitcoin мошенничество ethereum developer
vip bitcoin комиссия bitcoin ethereum токен konverter bitcoin tether android bitcoin оплата faucet cryptocurrency bitcoin roll wired tether ethereum windows ethereum clix bitcoin смесители express bitcoin testnet bitcoin ethereum wikipedia data bitcoin
ethereum nicehash мавроди bitcoin bitcoin hacker зарегистрироваться bitcoin алгоритм ethereum прогнозы ethereum monero обменять monero майнер шифрование bitcoin bitcoin ishlash bitcoin бонусы
reddit bitcoin monero сложность nicehash bitcoin future bitcoin bitcoin клиент bitcoin вики bitcoin таблица bitcoin daily bitcoin адрес
bitcoin завести ethereum доллар bitcoin 1000 server bitcoin ethereum charts майнер ethereum bitcoin коллектор bitcoin history ethereum конвертер bitcoin порт
amazon bitcoin bitcoin xt xmr monero neo bitcoin bitcoin xpub ethereum калькулятор bitcoin реклама bitcoin clouding cryptocurrency calculator bitcoin greenaddress контракты ethereum
ethereum график conference bitcoin bitcoin youtube bitcoin japan dash cryptocurrency bitcoin system china bitcoin bitcoin asic bitcoin сокращение bitcoin api production cryptocurrency разделение ethereum
bitcoin bonus сети bitcoin rus bitcoin ethereum dao bitcoin bear
bitcoin пополнить
bitcoin транзакции обменники ethereum eos cryptocurrency
github ethereum iso bitcoin abc bitcoin bitcoin prosto up bitcoin bitcoin swiss cryptocurrency calculator таблица bitcoin black bitcoin bitcoin capitalization masternode bitcoin bitcoin ocean
виталий ethereum ethereum claymore прогнозы bitcoin bitcoin symbol bitcoin видео перевод ethereum bitcoin hardfork bitcoin mmgp ethereum node
q bitcoin flash bitcoin coins bitcoin platinum bitcoin telegram bitcoin spend bitcoin bitcoin ann китай bitcoin 22 bitcoin bitcoin видео casino bitcoin bitcoin location bitcoin lucky взлом bitcoin wirex bitcoin ethereum raiden bitcoin sell bitcoin poker ethereum история bitcoin capitalization сколько bitcoin Not trust-demanding: The way cryptocurrencies are built means that you don’t have to trust anyone in the system in order for it to work.One of the most popular kinds of cryptocurrency wallets is called a hot wallet. The difference between a hot wallet and a cold wallet is that hot wallets are connected to the internet, while cold wallets are not.bitcoin changer ethereum прогнозы 'Tyranny of Structurelessness' when core developers rulebitcoin s bitcoin сбербанк mini bitcoin bitcoin fee bitcoin compare roll bitcoin monero кран bitcoin транзакция air bitcoin bitcoin обзор bitcoin golden bitcoin banking ethereum miner bitcoin кошелька scrypt bitcoin ethereum charts bitcoin blog tether ico ethereum homestead ethereum rub bitcoin loan
bitcoin заработок bitcoin безопасность bitcoin оборот bitcoin plus golang bitcoin майнер monero
x2 bitcoin
ethereum монета bitcoin fpga cms bitcoin bitcoin favicon kong bitcoin bitcoin лохотрон теханализ bitcoin bitcoin weekly Here is a blog post from Vitalik Buterin, the founder of Ethereum, on Ethereum pre-history. Here is another blog post with more history.bitcoin hardfork
bitcoin конец системе bitcoin If the thought of maintaining private keys yourself leaves you uneasy, consider a wallet that handles the job for you. Two software wallets currently offer this capability: Electrum and Armory.monero rub bitcoin eu mikrotik bitcoin ethereum прогноз ethereum котировки количество bitcoin 60 bitcoin перспективы bitcoin криптокошельки ethereum
ethereum конвертер bitcoin indonesia bitcoin система сайт bitcoin ethereum api ethereum icon bitcoin bcc pro bitcoin
bitcoin mempool metatrader bitcoin бесплатно bitcoin таблица bitcoin bitcoin dance bitcoin reindex go bitcoin prune bitcoin bitcoin сделки bitcoin girls bitcoin pdf брокеры bitcoin bitcoin куплю weather bitcoin bitcoin unlimited отзыв bitcoin sportsbook bitcoin регистрация bitcoin top bitcoin ethereum кран bitcoin сбербанк monero gpu bitcointalk monero geth ethereum ethereum обмен
bitcoin torrent xpub bitcoin bitcoin ann
bitcoin bcc добыча bitcoin bitcoin 10 ethereum прогнозы инвестиции bitcoin протокол bitcoin hack bitcoin
bitcoin форекс терминал bitcoin At its core, Bitcoin is free and open source software (FOSS), code that lives on the Internet.bitcoin xl mmm bitcoin россия bitcoin bitcoin agario bitcoin что
шрифт bitcoin exchange ethereum ethereum криптовалюта луна bitcoin разработчик ethereum будущее ethereum аккаунт bitcoin Ethereum software: geth, eth, pyethappFor example, a cryptocurrency application called Abra provides peer-to-peer money transfers. With Abra, users can store, transfer, and receive digital money on their PCs, tablets or smartphones. A recipient can withdraw cash via an Abra teller. Users don’t need to have a bank account!bitcoin обозреватель bitcoin trading bitcoin tails rise cryptocurrency адрес bitcoin bitcoin книга code bitcoin конвертер bitcoin
bitcoin вложения bitcoin tor coingecko bitcoin bitcoin koshelek отзыв bitcoin
bitcoin png bitcoin sweeper ethereum сайт monero miner x2 bitcoin 60 bitcoin bitcoin euro coindesk bitcoin bitcoin коды bitcoin информация блокчейн ethereum вывод monero создать bitcoin bitcoin rub life bitcoin tether пополнить ethereum википедия bitcoin rub bistler bitcoin Alibaba chairman Jack Ma stated in 2018, 'There is no bubble for blockchain, but there's a bitcoin bubble' and ' technology itself isn’t the bubble, but bitcoin likely is'.bitcoin ocean кошельки bitcoin bitcoin gif обменник monero ethereum pool скачать tether сбербанк bitcoin bitcoin скачать bitcoin millionaire etf bitcoin bitcoin strategy bitcoin formula frog bitcoin отдам bitcoin bitcoin падает ставки bitcoin вывод monero fast bitcoin bitcoin pdf fpga ethereum cryptocurrency tech explorer ethereum приват24 bitcoin king bitcoin
raiden ethereum bitcoin farm конвертер bitcoin casino bitcoin bitcoin автомат monero benchmark word bitcoin bitcoin talk bitcoin server
doge bitcoin uk bitcoin Multisig is popular in Bitcoin today: about 1.65m BTC (about $6b) are held in known multisig wallets. This figure climbs to 3.9m BTC (-$14b) if we make a naive extrapolation about the ratio of multisig to non multisig in unspent p2sh scripts.Touchscreen user interfaceethereum *****u разработчик bitcoin While anyone is welcome to conduct research and development privately, any attempts to make protocol changes, especially non-backwards compatible changes, should occur in the open rather than behind closed doors. Bitcoin belongs to humanity, thus it is important that proposed changes be open to public comment. The Bitcoin Improvement Proposal process is the recommended way to go about suggesting changes, though because no authority can enforce that the process be followed, it’s not a requirement.Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.Tweetbitcoin эмиссия weekend bitcoin double bitcoin bitcoin games See All Coupons of Best Walletsбесплатные bitcoin bitcoin node bitcoin форк monero benchmark
обменять monero bitcoin swiss bitcoin plugin добыча bitcoin ethereum faucet email bitcoin андроид bitcoin cryptocurrency nem bitcoin коды charts bitcoin обменник ethereum erc20 ethereum ethereum бесплатно key bitcoin
bitcoin casascius бонусы bitcoin bitcoin s bitcoin media
tether кошелек bitcoin видеокарты
These figures could change at any time, but currently the largest Litecoin mining pool is Poolin. They control about 23% of the hashrate for LTC mining.bitcoin coingecko pplns monero