Author Topic: What is Bitcoin? (Read 2152878 times)

bitcoinforum.com · « **on:** January 01, 2013, 03:45:04 PM »

What is Bitcoin?

Web definitions: A decentralised digital currency created in 2009; A client for the above currency.
(en.wiktionary.org/wiki/bitcoin)

rafeelclark · « **Reply #390 on:** November 28, 2022, 04:51:04 PM »

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

A bitcoin exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins. A bitcoin exchange functions like a traditional stock exchange: it matches buyers with sellers and facilitates trades between them. However, unlike a traditional stock exchange, a bitcoin exchange is not regulated by any government body.

Bitcoin exchanges allow users to buy and sell bitcoins using different fiat currencies or altcoins. Bitcoin exchanges function like traditional stock exchanges: they match buyers with sellers and facilitate trades between them. However, unlike traditional stock exchanges, bitcoin exchanges are not regulated by any government body.

what is a bitcoin exchange?

A bitcoin exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins. A bitcoin exchange functions like a traditional stock exchange: it matches buyers with sellers and facilitates trades between them. However, unlike a traditional stock exchange, a bitcoin exchange is not regulated by any government body.

Bitcoin exchanges allow users to buy and sell bitcoins using different fiat currencies or altcoins. Bitcoin exchanges function like traditional stock exchanges: they match buyers with sellers and facilitate trades between them. However, unlike traditional stock exchanges, bitcoin exchanges are not regulated by any government body.

Bitcoin exchanges provide a platform for traders to buy and sell bitcoins using different fiat currencies or altcoins. Bitcoin exchanges function like traditional stock exchanges: they match buyers with sellers and facilitate trades between them. However, unlike traditional stock exchanges, bitcoin exchanges are not regulated by any government body.

MishellLarson · « **Reply #391 on:** November 30, 2022, 10:49:23 AM »

Awesome info thanks

MishellLarson · « **Reply #392 on:** November 30, 2022, 10:53:28 AM »

I don't think we should be in a hurry. A lot of factors affect the dynamics of the market. We need to wait.

edelynwalker · « **Reply #393 on:** December 09, 2022, 09:46:53 AM »

Bitcoin is a digital currency that is created and held electronically. It is the first decentralized digital currency, as the system works without a single administrator or central bank. Bitcoin is based on blockchain technology, a distributed ledger enforced by a disparate network of computers. Transactions are verified by network nodes through cryptography and recorded in a publicly distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

CoinMany6 · « **Reply #394 on:** December 16, 2022, 12:16:41 PM »

Bitcoin is a decentralized cryptocurrency and an innovative payment network. It’s free of central banks and provides a peer-to-peer network to transfer money. Every transaction is transparent and immutable. Investors use Bitcoin as a means of exchange as well as a store of value to hedge against inflation.
Who gave birth to Bitcoin? Satoshi Nakamoto, the anonymous name of the creator of Bitcoin. Satoshi began to think of a new currency when he saw central banks publish cash which caused inflation during the economic crisis. Fiat could be of less value due to inflation and people couldn’t do anything. He created Bitcoin with the purpose to provide an alternative payment method without the control of the central government.

theblockminers · « **Reply #395 on:** December 25, 2022, 12:23:56 PM »

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wilkinesaudrey · « **Reply #396 on:** December 26, 2022, 06:12:17 AM »

Remember, always keep your key

ockysern · « **Reply #397 on:** December 29, 2022, 09:29:50 AM »

[font=Söhne]Bitcoin is a decentralized digital currency that uses cryptography for security and is not controlled by any government or financial institution. It was created in 2009 by an anonymous individual or group of individuals known as Satoshi Nakamoto[/font]

ESALADA · « **Reply #398 on:** January 05, 2023, 10:44:32 AM »

Bitcoin is a cryptocurrency or virtual currency, specifically the first one to be developed.
It can often serve the function of a currency. However, it can also be used as a financial asset, people buy them and when their value goes up they sell them.

We can consider them as a decentralized alternative to digital currencies. That is, a euro or any other currency with which you pay online is organized and controlled by entities and banks. Meanwhile, the bitcoin is not controlled by anyone, there is simply a series of connected computers in which their movements are replicated to make it a secure method.

The value of each cryptocurrency is variable, just as if they were stock market assets, and in recent years there are a lot of changes in its value. Sometimes it rises like wildfire, and other times it plummets.

hope I have helped

CTARblu · « **Reply #399 on:** January 06, 2023, 10:39:26 AM »

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amelinmae23 · « **Reply #401 on:** January 31, 2023, 11:18:25 AM »

Bitcoin is the first decentralized digital currency in the history of human. It was launched in 2008 by a secret person or organization named satoshi Nakamoto. Still i am one of the user of the BTC. Even i have posted a clearcut article in my early days you can check out that here.

Irina Bodan · « **Reply #402 on:** February 08, 2023, 05:58:25 AM »

Bitcoin comes to mind when people think of crypto. This is due to the fact that one of the most well-known digital currencies is Bitcoin, which was created by a programmer named (most likely a pseudonym) Satoshi Nakamoto in 2009.

It was the first digital currency put into circulation. Other popular cryptocurrencies include Litecoin, Dogecoin and Ripple. Each crypto has its own set of rules and regulations and unique advantages.

AnnSmith · « **Reply #403 on:** February 09, 2023, 02:20:04 PM »

Bitcoin is a digital currency created in January 2009 following the housing market crash. It follows the ideas set out in a white paper by the mysterious and pseudonymous Satoshi Nakamoto. The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. A lot of people try to make money on it. I usually try to find some Crypto Exchanges Reviews [nofollow] and follow them.

Geou1991 · « **Reply #404 on:** February 13, 2023, 04:25:10 PM »

reat article!! Really nice insights. I think some people struggle with claiming bitcoin as a currency because it's not something that they can "hold." We can hold dollars and coins. Of course, the newest generation won't have any prob seeing btc as a currency since everything is digital to them as it is -- they don't know any different.

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