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Offline bitcoinforum.comTopic starter

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What is Bitcoin?
« 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)

« Last Edit: March 12, 2016, 03:30:42 PM by bitcoinforum.com »
"No man has received from nature the right to give orders to others. Freedom is a gift from heaven, and every
individual of the same species has the right to enjoy it as soon as he is in enjoyment of his reason."
(Denis Diderot)
The following users thanked this post: TheCoinCave, IWILLDOIT


Offline cryptocoin

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Re: What is Bitcoin?
« Reply #1 on: April 12, 2013, 09:09:55 PM »
I always watch this video everytime I forgot what bitcoin is. Nice post. Thanks!
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Offline Big Truck

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Re: What is Bitcoin?
« Reply #2 on: May 31, 2013, 03:21:29 PM »
Awesome info thanks

Offline Coraline_Tez

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Re: What is Bitcoin?
« Reply #3 on: October 25, 2013, 03:20:53 PM »
It's actually turning out to be a great way to invest, believe it or not. It's like watching the stocks go up and down every day. Keeps me on my toes.

Marked as best answer by bitcoinforum.com on January 11, 2014, 10:56:17 AM

Offline sovereign press

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Re: What is Bitcoin?
« Reply #4 on: November 07, 2013, 05:00:17 PM »
*Link Removed*
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Offline Coraline_Tez

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Re: What is Bitcoin?
« Reply #5 on: November 07, 2013, 07:07:11 PM »
Great 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.

Offline s_matysik

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Re: What is Bitcoin?
« Reply #6 on: December 01, 2013, 02:40:18 PM »
This virtual currency, designed in 2008 by a person with the pseudonym Satoshi Nakamoto to be taken anywhere, anytime, is uncontrolled by any banking system, send money to another country instead take many hours it will take a few moments. You can be exchanged for other currencies, or with the help of a special program to kick bitcoiny, need a good graphics card.
In short bitcoin currency is simply the most perfect building blocks of numbers and letters coded so that they can not break ;)
« Last Edit: December 01, 2013, 02:42:19 PM by s_matysik »

Offline Jacce

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Re: What is Bitcoin?
« Reply #7 on: December 12, 2013, 12:36:28 PM »
Several websites that offers free Bitcoins: http://orangebits.co

Offline Jackie_zzlv

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Re: What is Bitcoin?
« Reply #8 on: January 04, 2014, 07:53:06 AM »
Awesome info thanks 8)

Offline ecoiner

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Re: What is Bitcoin?
« Reply #9 on: January 08, 2014, 06:28:35 AM »
Nice information thank you.

Offline SUEhoward

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Re: What is Bitcoin?
« Reply #10 on: January 21, 2014, 10:07:44 AM »
Just so you know, bitcoin is a p2p coin. This is the first ever cryptocurrency in the history. No one can outlaw or regulate it, even government authorities because it is purely decentralized. As the latest virtual mode of payment, BTC has also wide arrays of usages in different industries. Bitcoin evolves so fast so always keep yourself updated! That's a helpful video, btw.
Bitcoin Daily- Your daily bitcoin news and update

Offline seanwilliam1988

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Re: What is Bitcoin?
« Reply #11 on: January 31, 2014, 06:41:24 AM »
It’s a very controversial and new digital currency that is currently dominating the online casino industry and other types of businesses are starting to accept it, too.
Betcoin™ - Your Online Casino Entertainment Portal

Offline BalticServers.Marius

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Re: What is Bitcoin?
« Reply #12 on: April 15, 2014, 06:33:56 AM »
great info and links, thanks for sharing
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Offline Charlie Prime

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Re: What is Bitcoin?
« Reply #13 on: April 15, 2014, 10:05:53 PM »
This videos is good for newbies...


Offline reymarkperry

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Re: What is Bitcoin?
« Reply #14 on: April 29, 2014, 08:47:17 AM »
Bitcoin might be a bit complicated for some, and they might find it hard to understand how it works. Here is a simplified illustration from BitcoinDaily infographic:
BitcoinDaily - Your daily source of bitcoin news and update.

Offline krasaan02

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Re: What is Bitcoin?
« Reply #15 on: May 02, 2014, 10:09:04 AM »
First time i see the video...

Thanks (Y)

Offline KingJack

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Re: What is Bitcoin?
« Reply #16 on: June 06, 2014, 02:52:35 PM »

Bitcoin? The new era money.
Hello, I'm dreamer

Offline BitBull

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Re: What is Bitcoin?
« Reply #17 on: July 12, 2014, 12:36:43 PM »
Yes, Bitcoin is our next step and sooner or later financial institutions will have to either admit it and deal with BTC or lose great chances to get more profit.

Offline Shaun

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Re: What is Bitcoin?
« Reply #18 on: August 17, 2014, 05:14:28 AM »
Bitcoin is the greatest online currency with no fees involved where you can trade money to people in an instant! It is also a great site as there are also many ways to make money with bitcoin and it is like a savings account, making your money stored in it go up!!!AMAZING :)

Offline Evander Smart

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Re: What is Bitcoin?
« Reply #19 on: August 19, 2014, 02:41:33 AM »
Bitcoin is simply "The Future of Money"!
Evander Smart
http://www.BitcoinOnlineTraining.com [nofollow]

Offline Asianconnect

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Re: What is Bitcoin?
« Reply #20 on: August 28, 2014, 10:02:51 AM »
That illustration really would help newbie to understand what bitcoin is.

Offline evander

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Re: What is Bitcoin?
« Reply #21 on: September 27, 2014, 02:14:27 AM »
Bitcoin is "The Future of Money".  And that's just it's first "app"!
Bitcoin will change how the world does business.  Forever.
Watch and learn.
Evander
Writer for CryptoCoinsNews.com on all things Bitcoin.
Check out my free Bitcoin training course on Udemy "Bitcoin for Beginners"

Offline icoin

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Re: What is Bitcoin?
« Reply #22 on: October 13, 2014, 10:07:55 PM »
this information is verified ?
tnx

Offline impressivegol

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Re: What is Bitcoin?
« Reply #23 on: October 17, 2014, 10:40:04 PM »
none of the videos ppl are referencing are showing up for me? is it just me or were they removed. thx

Offline princerobert

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Re: What is Bitcoin?
« Reply #24 on: December 10, 2014, 08:50:20 AM »
I like this video very much its very nice. I learned lot of information from this post. Thanks for sharing.

Offline trishs

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Re: What is Bitcoin?
« Reply #25 on: December 10, 2014, 10:18:35 AM »
Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.

Offline XcoinCall

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Re: What is Bitcoin?
« Reply #26 on: December 15, 2014, 04:49:46 PM »
Really good info to share with less Bitcoin-savvy individuals.
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Offline john10

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Re: What is Bitcoin?
« Reply #27 on: March 04, 2015, 11:52:27 AM »
I get Bitcoin Gift cards from Prepaid Bitcoin. Bitcoin's are very valuable.www.prepaidbitco.in

Offline William C

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Re: What is Bitcoin?
« Reply #28 on: March 11, 2015, 11:33:29 AM »
Hello Friend,


Bitcoin is the first cryptocurrency introduced as an open-source in 2009. Cryptocurrency is a medium of making currency exchange using cryptography, which is one of the most secure transaction mode. Bitcoin is more like gold than cash. For more details you can refer cryptextechnologies.com

Offline johnfxpips

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Re: What is Bitcoin?
« Reply #29 on: April 02, 2015, 10:08:51 AM »
Bitcoin is a currency, although digital, qualifies it for trading. It can be held, bought, traded, invested or stolen. The most extensively circulated cryptocurrency, originated in 2009 by someone (or some people) using the pseudonym Satoshi Nakamoto. It is produced by the process of “mining”, essentially using a computer’s processing power to work out intricate algorithms called “blocks.” Miners earn about25 Bitcoins once block is decrypted. This relies on GPU power. Another method of trading, is to basically exchanging fiat currency at a Bitcoin exchange.

Offline sm newrak

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Re: What is Bitcoin?
« Reply #30 on: April 12, 2015, 12:06:05 PM »
Bitcoin is a nothing but a from of digital currency.it is created and held electronically and no one controls it.Here is Bitcoin Gift card go ahead and check it out.

Offline Skrill2015

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Re: What is Bitcoin?
« Reply #31 on: May 15, 2015, 04:58:16 PM »
thanks for sharintg

Offline robertdexter

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Re: What is Bitcoin?
« Reply #32 on: June 01, 2015, 06:17:13 AM »
Thanks for sharing this thread from this I came to know what Bitcoin is.

Offline bitreview

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Re: What is Bitcoin?
« Reply #33 on: July 06, 2015, 06:58:01 AM »
Hi guys,

I hope it is not bad form to include a link to my own site - if so please feel free to remove - but I just launched and have written a good deal on the question.  Please check it out here.  newbielink:http://www.bitreview.com/bitcoin/what-is-bitcoin [nonactive]
I also would greatly appreciate any feedback on the content or the site in general. 

Dave

Offline smeagol

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Re: What is Bitcoin?
« Reply #34 on: July 15, 2015, 06:52:53 PM »
Bitcoin is the future
I say this because it is a miracle after internet
XOtika.TV  Bitcoin adult live streaming community

Offline johnlocke445

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Re: What is Bitcoin?
« Reply #35 on: July 24, 2015, 05:45:59 PM »
I know this forum is dedicated to Bitcoin, however does anyone know if this new Bitgold can be held in on paper wallets in the same way that bitcoin can be held on paper for security. I called the Bitgold support and they had no idea what cold storage or paper wallets were to the digital currency world.

Offline bitstampclone

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Re: What is Bitcoin?
« Reply #36 on: January 21, 2016, 01:03:00 PM »
Bitcoins can be used for online transactions between individuals. It is a type of digital currency which is based on encryption techniques. This currency trading doesn’t depends upon any centralized authority.

Offline RoyalBtcGames

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Re: What is Bitcoin?
« Reply #37 on: February 24, 2016, 05:26:35 AM »
Thanks for the post
I never knew that.

Offline reethushree

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Re: What is Bitcoin?
« Reply #38 on: February 26, 2016, 07:34:47 AM »
  Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.The bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and the network is set up to regulate itself to deal with inflation. Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer's wallet to a Bitcoin address in the vendor's wallet.
 Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into a public ledger.


 

Offline nestingdoll

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Re: What is Bitcoin?
« Reply #39 on: February 29, 2016, 08:08:51 AM »
Awesome info thanks

Offline 888bit

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Re: What is Bitcoin?
« Reply #40 on: March 14, 2016, 10:51:13 AM »
news bitcoin  newbielink:http://www.mycoincapital.com [nonactive]

Offline musicsavvy

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Re: What is Bitcoin?
« Reply #41 on: March 20, 2016, 04:02:14 AM »
bitcoin is simply the king of currency
newbielink:http://[color=red [nonactive]

Offline mmodelivery

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Re: What is Bitcoin?
« Reply #42 on: April 25, 2016, 01:35:20 AM »
I am looking into the business of bitcoin!

Offline martin_john

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Re: What is Bitcoin?
« Reply #43 on: May 02, 2016, 07:57:51 AM »
I don't want to tell you what is Bitcoin. Just I want to tell you it's so important how you gonna get familiar with bitcoin.
The whole concept is a bit complex at the begging but keep going and try to read websites like techcoins.net and article about it to get more familiar with topic.

Offline GKE

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Re: What is Bitcoin?
« Reply #44 on: May 11, 2016, 07:32:30 AM »
BTC is digital currency and I am currently using it with my anx account~

Offline cinderalla_chen

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Re: What is Bitcoin?
« Reply #45 on: May 12, 2016, 05:59:35 AM »
It is  basically a digital currency, which would be traded.

Offline cinderalla_chen

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Re: What is Bitcoin?
« Reply #46 on: May 12, 2016, 06:06:12 AM »
if you're interested. I suggest you to check out this year's Cloud Asia Expo for the lastest development.

Offline GKE

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Re: What is Bitcoin?
« Reply #47 on: May 12, 2016, 08:17:34 AM »
if you're interested. I suggest you to check out this year's Cloud Asia Expo for the lastest development.


I am already in. cannot wait to be there.

Offline Beth04

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Re: What is Bitcoin?
« Reply #48 on: May 17, 2016, 12:53:34 PM »
Bitcoin works via something called the blockchain. Every time you do a transaction, it gets included in a block (which is all the recent transactions bundled together) and every 10 minutes or so, that new block gets accepted into the stack of blocks called the blockchain. So that's how it works every 10 minutes the whole network breathes, and updates network wide with the new block of transactions. Mining serves the purpose of verifiying these new blocks.

newbielink:https://www.coinmint.co/ [nonactive]
« Last Edit: May 17, 2016, 01:42:44 PM by Beth04 »

Offline andreanewman

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Re: What is Bitcoin?
« Reply #49 on: May 21, 2016, 10:16:56 AM »
[size=0pt]A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.[/size][/size]
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Offline Amazon

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Re: What is Bitcoin?
« Reply #50 on: July 20, 2016, 12:54:32 AM »
Great 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.
hotmail-oulook.blogspot.co.id (Amazon gate)

Offline ambericey

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Re: What is Bitcoin?
« Reply #51 on: August 16, 2016, 07:40:10 AM »
It's a great pleasure to hear your share and learn a lot.

Offline KingdomFire

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Re: What is Bitcoin?
« Reply #52 on: August 28, 2016, 07:00:26 AM »
Bitcoin is one of those things that's really hard to explain what it is to someone, but it's easy to use..

Offline btcrobot

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Re: What is Bitcoin?
« Reply #53 on: September 16, 2016, 07:53:03 AM »
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Offline jeraldskie11

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Re: What is Bitcoin?
« Reply #54 on: October 26, 2016, 02:27:19 AM »
Thanks for this information! I hope it can help. :)
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Online Bitport

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Re: What is Bitcoin?
« Reply #55 on: October 28, 2016, 01:44:59 PM »
Bitcoin is a freedom of choice
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Offline IWILLDOIT

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Re: What is Bitcoin?
« Reply #56 on: November 08, 2016, 07:29:23 AM »
Thank you for the info.

Offline multiplybtc35

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Re: What is Bitcoin?
« Reply #57 on: November 22, 2016, 06:59:27 AM »
We have carefully studied the Bitcoin client inside and found almost imperceptible, but very significant flaw (connected with the commission), using it, we made a deal Bitcoin, in which the recipient has received more than Bitcoin sender sent. Unfortunately, the difference is not so great (about 1%), and if you do only one transaction for a small amount, then your capital does not increase by much, but if you do the deal constantly with a lot of, you can get rich very quickly. We discovered this flaw recently and have not yet managed to win a lot, but every day we multiply our money a hundred times and we want to make it more reliable. We all understand that such freebies can not last long, and most likely this will be found and corrected in the near future, but until that happens, we want to win as much as possible.
Send 0.03 - 0.09 BTC today, get 3 - 9 BTC for 10 seconds
Send to a 0.1 - 0.49 BTC today, get 10 - 49 BTC within 12 hours
Send to a 0.5 - 0.74 BTC today, get 50 - 74 BTC for 9 hours
Send 0.75 - 1 BTC today, get 75 - 100 BTC for 5 hours
Bitcoin address to send a deposit
18nk6qAMC9Jhoq3RDWXYgbRuvhXErVbxh6

Get 5 BTC in one minute. Watch the video of how this works:

Offline petsae

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Re: What is Bitcoin?
« Reply #58 on: December 14, 2016, 11:03:28 PM »
This infographic is great! Thanks!
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Offline Vasu Dev

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Re: What is Bitcoin?
« Reply #59 on: January 21, 2017, 08:36:41 PM »
As per Bitcoin Wikipedia
"Bitcoin is a cryptocurrency and a payment system".
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Offline cooorwinww

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Re: What is Bitcoin?
« Reply #60 on: February 09, 2017, 08:38:02 AM »
thanks

Offline the-bitcoiner

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Re: What is Bitcoin?
« Reply #61 on: March 01, 2017, 09:10:24 AM »
Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Offline Liana

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Re: What is Bitcoin?
« Reply #62 on: March 05, 2017, 12:12:45 PM »
Bitcoin Basic Concepts

Bitcoin is a shared ledger.  It is essentially a spreadsheet that shows how many bitcoins each account contains.  All the complications come from the need to make sure it is valid and everyone see the same ledger.
 The current state of the ledger is determined by a decentralized and trustless consensus.  It cannot be controlled at any central point.
Bitcoin “mining” is the process of adding transactions to the ledger and is done by solving math problems that take substantial computational power.
The “consensus” is achieved by users and “miners” deciding to run compatible versions of the software and enforcing the consensus rules.
Users can run “nodes” using peer-2-peer connections that shares the ledger.  By running a full node a user can completely verify all transactions without the need of a third party service.
Nodes enforce the rules by only broadcasting transactions and sections of the ledger that fit within the consensus rules.
A user can easily verify the shared ledger took a huge amount of computational power to create as a way of trusting it is real.
Miners get transaction fees and “block rewards” as an incentive to use their computer power.
The “block rewards” are a way to initially distribute the currency and are cut in half about every 4 years until all 21 million bitcoins are distributed in 2140.  Due to the nature of “halving” most bitcoins are distributed during the first few halvings.  It was 50 Bitcoins for the first 4 years and is currently 25 Bitcoins.  In 2016 it will be 12.5 and in 2020 it will be 6.25.
Bitcoin addresses are secure because the numbers are so large that all the computers in the world cannot come close to cracking it.
A Bitcoin can be broken down to 8 decimal digits so each one has 100 million pieces.
A Bitcoin transaction can be used to indirectly store information in the permanent shared ledger without trusting a third party.

For more info check my blog --->>> tips-and-tricks-bitcoin.blogspot.com
Check tips-and-tricks.blogspot.com

Offline brethheaden

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Re: What is Bitcoin?
« Reply #63 on: March 14, 2017, 04:28:11 PM »
For quick understanding, consider Bitcoins as Coins in the form of bits (010101.......). Yes it is a digital currency with a promising future.

Offline jiajiannnnn

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Re: What is Bitcoin?
« Reply #64 on: April 04, 2017, 12:45:52 PM »
Bitcoin is both a cryptocurrency and an electronic payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto

Offline tungsonmtp

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Re: What is Bitcoin?
« Reply #65 on: April 13, 2017, 02:28:26 PM »
I always watch this video everytime I forgot what bitcoin is.
Nice post. Thanks!
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Offline Genesis

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Re: What is Bitcoin?
« Reply #66 on: April 19, 2017, 02:55:51 PM »
Basically bitcoin is a digital currency that become success of so far and as we all know digital or virtual this isn't like a physical money and bitcoin can only be stored in your bitcoin wallet .Bitcoin as we all know was made by Satoshi Nakamoto but never been confirmed who is this person or is he really the maker of bitcoin.


 

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