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Author Topic: Professional Bitcoin terminology you must know-bitcoin-IXX Exchange  (Read 377 times)

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Offline EchoDavis99Topic starter

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The bitcoin system is designed to mimic the supply of gold, with a ceiling of 21 million;
It can effectively prevent central Banks from publishing too much inflation.
Bitcoin's relative anonymity appeals to people in crisis countries.
Keep a close eye on the trend of Bitcoin, unable to fry COINS when nervous, after losses desperately borrow money to cover positions...
The attraction of Bitcoin is, above all, its escapism.
In the world of digital money, trading takes place around the clock and the price curve fluctuates from moment to moment.
So why does Bitcoin appeal to you? Are there any technical terms you don't understand?
1. Why does Bitcoin appeal to you?
1. Low investment threshold
Eighty-three percent of investors said they were most attracted to bitcoin because they could invest a little bit at a time, so they could watch the trend for a little bit and decide whether to invest more.
2. Bitcoin has great growth potential
Seventy-nine percent of users who are interested in bitcoin think so.
3. Scarcity value
Seventy-five percent of interested investors think bitcoin is digital gold. It's an asset with a limited amount of money, and all investors are actually competing for limited resources, so its value could go up.
4. Low transaction costs.
As an exchange intermediary, bitcoin has very low transaction costs.
The most professional investment platform, investors are here: IXX

2. Are there any technical terms you don't understand?
1. The currency
The English Bitcoin is a digital currency based on a distributed network, and refers to the network system itself used to construct the digital currency.
The monetary unit of bitcoin. As the United States dollar is expressed in USD; Bitcoin is represented by BTC.
3. Bitcoin address
A Bitcoin address is a string of characters and Numbers that is the only information you need to provide to make a Bitcoin transaction.
4. The purse
The Bitcoin wallet is used to store your Bitcoin information, which can be understood as your "bank account". To obtain the bitcoin, you need a wallet for storage. The wallet displays the total bitcoin balance of all the Bitcoin addresses it contains.
5. The private key
A private key is a string of characters used to unlock the corresponding address, which can be understood as a password. Each Bitcoin address has a unique private key. If you use a wallet app, your private key is stored on your computer. If it's an online wallet, your private key is stored on a remote server.
6. Digital signatures
A mathematical mechanism by which one can prove ownership, consisting of a long list of Numbers.
7. The miners
Miner refers to nodes in the network that generate workload proof by repeatedly hashing.
8. Mineral pools
That's the set of miners.
Since the chances of a single miner hitting a single block are slim, miners band together to form pools that increase the chances of hitting a mine. The blocks dug in the pit will be rewarded according to the percentage of each machine's computing power in the pit.
9. Dig
Mining the process of using computer hardware to do mathematical calculations for the Bitcoin network to confirm transactions and improve security. As a reward, the miners who finish the calculations first get a "production" of bitcoins from the mine (the process by which bitcoins are issued, and the number of bitcoins in the mine is constant and decreases only year by year), as well as the fees they are charged for the transactions they confirm.
10. The hash
A Hash, also known as a Hash, is an algorithm that maps arbitrary length data to shorter, fixed-length binary values. Because it's an irreversible operation, you can't decrypt it.
11. The hash value
The binary value that is mapped to by a hash operation is called a hash value.
12. Block
Packets that carry transaction data on a blockchain network.
It will be marked with a timestamp and a unique tag from the previous block of information. After the block header is hashed, a workload proof is generated to verify the transactions in the block. Valid blocks are then appended to the main block chain after a full network consensus.
13. Block chain
Blocks with timestamps are interconnected to form a chain of information blocks. It can be understood as a distributed ledger guaranteed by cryptography not to be tampered with or falsified.
14. The creation block
Refers to the first block on the blockchain used to initialize the corresponding cryptocurrency.
Have you noticed that more and more friends around you start to ask you, hand a little spare money, what to invest?
Bitcoin, of course, is important to find a reliable platform.

Offline JosephCrawley

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Re: Professional Bitcoin terminology you must know-bitcoin-IXX Exchange
« Reply #1 on: October 12, 2020, 01:59:31 AM »
Can you add here information about trading bot? I think, it is one of the best elements and tool to get profit from BTC trading. It is very useful for every person especially if he is a newcomer in crypto. So the effect of its usage will be very fast.


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