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Using our handy guide, you may have already familiarized yourself with the ins and outs of Bitcoin. But aside from bitcoin, there are hundreds of other digital currencies out there. These are known as “altcoins,” or alternatives to bitcoin; for example, ether, ripple, zcash, monero and dash, to name just a few. Altcoins can differ from Bitcoin in a range of ways. Some have a different economic model or a different coin-distribution method, like altcoins that were given away to all citizens of a country. Others employ different proof-of-work mining algorithms, perhaps to resist specialized mining hardware — or maybe they don’t even rely on proof of work at all. Several altcoins offer a more versatile programming language to build applications on top of, while yet others offer more privacy compared to Bitcoin. And there are also altcoins that serve very specific, non-monetary use cases, like domain name registry or data storage pointers. However, there are also

One of the fundamental questions many people have about Bitcoin revolves around the tokens themselves. Questions about its value, security and history, all eventually lead to one place: Where do bitcoins come from? While traditional money is created through (central) banks, bitcoins are “mined” by Bitcoin miners: network participants that perform extra tasks. Specifically, they chronologically order transactions by including them in the Bitcoin blocks they find. This prevents a user from spending the same bitcoin twice; it solves the “double spend” problem. Skipping over the technical details, finding a block most closely resembles a type of network lottery. For each attempt to try and find a new block, which is basically a random guess for a lucky number, a miner has to spend a tiny amount of energy. Most of the attempts fail and a miner will have wasted that energy. Only once about every ten minutes will a miner somewhere succeed and thus add a new block to the bl

Questions about the value of bitcoins as an investment will likely differ depending on who you ask. Those with a vision of a fully-distributed future in which the lack of a centralized overseer becomes key to an asset’s value will tell you that, yes, bitcoins are poised to become only more valuable in the future. Others who put more value in the traditional trust afforded by banks and government institutions would likely steer you away from bitcoins as an investment. While determining how “good” any investment will be is ultimately a guessing game, there are some tried and true ways to determine an asset’s worth. One of the simplest ways to think about bitcoin as an investment is to consider its rise against the U.S. dollar. Recently, bitcoin prices eclipsed $1,000 and have reached beyond $1,500. If you had invested in the digital currency when its worth was still hovering around $150 just a few years ago, or when it was first introduced in 2009 and worth nothin

The digital currency Bitcoin has a dedicated following, regularly makes headlines and inspires countless investors to consider making digital currency part of their portfolios. Yet it enjoys the backing of no government or third-party entity like a bank, and it can be hard to understand where its perceived value comes from. So, you may be asking, what makes bitcoin valuable? Fundamentally, bitcoins derive their value just as anything else does: because people want them. Like any other currency, bitcoin follows the basic rules of supply and demand. Currencies have always been useful tools to make trade easier, enabling holders to convert goods into a widely tradable commodity through sale, then use the proceeds of that sale to purchase nearly anything they wish. While fiat currencies derive value from the governments that back them, currencies like gold are valuable in and of themselves. Currently, bitcoin isn’t like other currencies in that it is not universally

If you are thinking through the process of accruing bitcoins, you may be wondering where to keep them once you’ve done so. After investing time and resources into the digital asset, can you be sure they are locked safely away for when you want to use them? In truth, bitcoins aren’t “stored” anywhere. As a purely digital entity, it is not as if they are held in bank vaults or stuffed under mattresses. They are accessible through Bitcoin addresses, which require a set of digital keys for entry. So, the question of how to securely store bitcoins comes down to the security of these keys. Every Bitcoin address has two keys: a “public key” and a “private key.” Bitcoin addresses are derived from public keys, and these Bitcoin addresses are shared. Think of it like sharing your email address with someone: they can send you an email but can’t get into your inbox to read your mail. Similarly, nobody can get into a wallet and take bitcoins from it with a public key; it can only b

With a firm understanding of what Bitcoin is and how bitcoin wallets work, chances are that you’re interested in getting some of the digital currency for yourself. The question is: How can you get bitcoins? Based on an understanding that bitcoins originally come from mining processes, you might think this is the best way to get some for yourself. Sadly this has become increasingly difficult as Bitcoin has grown in popularity. As more powerful, mining-specific devices have been introduced and the number of bitcoins out there to be mined has fallen, it is becoming increasingly unrealistic for average individuals to participate. Another way to get bitcoins is to earn them like you would any other currency: by providing goods or services in exchange for the digital currency. There are websites that list offers for jobs that pay in bitcoins, rather than traditional currency. You can also ask your current employer to pay you in bitcoins, which can be a good option for

Bitcoin depends on a distributed ledger system known as the blockchain. The blockchain is possibly the most powerful innovation associated with Bitcoin, as countless industries from financial services to healthcare have begun contemplating how to leverage the technology for their own uses. So it’s worth asking: What is a blockchain? The essential power of blockchain technology is its ability to distribute information. Because it is distributed across all of the nodes, or individual computers, that make up the system, the term “blockchain technology” is often swapped with “distributed ledger technology.” A blockchain’s database isn’t held in a single location, which could be infiltrated or controlled by a single party, but rather it is hosted by numerous (in the case of Bitcoin, tens of thousands of) computers all at once.   The blockchain network automatically verifies itself at certain intervals, creating a self-auditing system that guarantees the accuracy of

Bitcoin means different things to different people. For some, it is a future of freely moving currency untied to any central bank. To others, it is a purely digital entity of questionable value and dubious origin. But what is Bitcoin, in the most basic sense? In most casual conversations, you can get away with knowing that bitcoin is, basically, a digital currency. But of course, it’s much more complicated than that. In fact, it is two much more complicated things. Bitcoin has been with us since 2009, when a person (or group) under the pseudonym Satoshi Nakamoto introduced a platform (Bitcoin, uppercase) that hosts a digital currency (bitcoin, lowercase). Bitcoin the platform is built on the concept of “ proof of work ” data that is expensive and time-intensive to produce but can be easily verified. In Bitcoin’s case, proof of work is created through the process of “mining.” To mine a bitcoin, a computer must complete a complicated algorithm, essentially going through the work of a

When you are trading the cryptocurrency it is necessary to have accessibility to a relied on brokerage company. Though there are lots of brokerage companies available that can be counted upon, figuring out the one that can additionally ensure you attractive returns are essential. Undeniably with Bitcoin brokers’ testimonials you could do it fairly precisely. Bitcoinbrokers are services provider that allow you to buy Bitcoin anonymously for buyers, and also market Bitcoin at a premium. For customers of Bitcoin you will be provided a financial institution account with name, account number and directing information. You transfer loan right into the account to obtain Bitcoin in return. This is lot even more easier now than a pair of years ago. It goes without saying delving into Bitcoin profession is not as very easy as it seems. You require to do research, have an enough understanding of how the profession goes. Additionally, you should understand the sort of people that you are going

The wild world of Bitcoin is about to get a whole lot wilder.  On August 1, 2017, the preeminent cryptocurrency is set to break in two. Two warring factions, fundamentally divided on Bitcoin's future, are coming to a head — and the impending split could either save Bitcoin or doom it. The split, called a hard fork, will result in two separate and distinct cryptocurrencies:  Bitcoin Cash  and  Bitcoin Core . Oh, and it also has the potential to create billions of dollars worth of new cryptocurrency out of thin air.   But that's not what this is really about. Bitcoin as it currently stands is in trouble, and with so much money on the line opposing parties have naturally come forward with plans to save it. And, surprise, they all don't agree on the solution.  That resulting disagreement is set to play out in full force at  5:20 a.m. PT  on August 1 with the launch of the Bitcoin Cash protocol, and many in the Bitcoin community have no choice but to hold their breath and w

August going to be a huge month in bitcoin history. Bitcoin, the largest cryptocurrency on the internet, is currently at a crossroads. Before August 1, the powerful users who “mine” the currency with souped-up PCs will have to choose whether or not to apply BIP 91, a set of software code to the bitcoin’s bedrock, known as the blockchain — a chronological public ledger that documents every transaction of the digital currency. While the miners currently seem to be in favor of the update, the controversial decision on how to update the cryptocurrency’s technology has driven a rift between several groups of users, leading many to speculate that at some point, the technology will “fork.” But  the concept of a fork  is complicated, and involves everything from the specific technology applied to bitcoin to the foundational philosophy behind the cryptocurrency. Here are five things you need to know about a possible bitcoin fork. 1. What is a bitcoin fork? In financial terms, a fork means r

A fork could change the equation for thousands of bitcoin users. The biggest, newest fear for bitcoin investors and users is a fork. In financial terms, a fork isn’t for eating — it represents a split in the currency that could significantly destabilize the cryptocurrency’s value by splitting it into two completely different currencies — “bitcoin classic” and “bitcoin current.” Right now, bitcoin’s price has been rising, but come August 1, there’s a small chance its future could change forever. So when will Bitcoin fork, and what does that mean for the future of the currency? The answer is a bit complicated. To understand it, here’s a rundown of the central problem facing bitcoin and the various ways its software-savvy community is trying to fix it. The problem Bitcoin has one central problem — it’s slow as heck. The world’s leading cryptocurrency is crippled by its meager ability to facilitate a mere seven transactions per second. As more and more people buy in and adopt the cry

Bitcoin Press Launch: Hubcoin gets on a mission to unite altcoin programmers by producing different devices for them and also helping the whole crypto-community with financial investments and also promotions.July 25, 2017, Minsk, Belarus– Belarus-based blockchain company Hubcoin prefers to report that 300,000 (10%) of the complete pre-mined HUB symbols was dispersed between all other altcoin programmers, that consented to receive them. The decision corresponds with the ongoing  HubCoin ICO, running from July 17, 2017, till July 31, 2017. During the ICO, the platform has made continuing to be 3,000,000 CENTER tokens readily available for purchase to the investors.The Hubcoin platform thinks that the recent experiments with reasonable coins have actually revealed wonderful success and also yet leaves a great deal of unrealized protocol. Complying with other premine distribution tasks like NEM as well as Auroracoin, Hubcoin has determined to designate 10% of all its premined HUB tokens

Image caption"Accepting cryptocurrencies broadens my client-base," says Eleesa Dadiani Why is the art world getting excited about digital currency Bitcoin and its underlying technology blockchain? Eleesa Dadiani owns and runs an art gallery in London's famous Cork Street. She was born in Georgia in the Caucasus and was "breastfed by gypsies". But she is also a passionate believer in the power of Bitcoin and other digital currencies. When we meet she is busy preparing for an exhibition of sculptures made from the exhausts of former Formula 1 racing cars. One of these strange rib-cage-like creations made from the super-strong alloy inconel has been gold-plated and will sell for about £35,000. "These are pieces of history," she tells me. In a first for the tradition-bound art world of Cork Street, her international clientele will have the opportunity to pay using Bitcoin, the digital cryptocurrency underpinned by blockchain technology. The galle

A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by  Nikkei , Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘ Zengin ’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The restrictive traditional system typically offers money transfers between 8:30 AM and 3:30 PM in the country. The banks are a part of a consortium of Japanese banks led by SBI Holdings and  SBI Ripple Asia , which sees over 50 members its payments consortium. However, the report reveals that only a handful of banks are participating in the test using virtual currencies, of which Ripple’s XRP is a conten

Can Bitcoin help people break out of poverty? What if we could build a financial system with Bitcoin that would lead to a  more equitable and fairer society ? Bitcoin has been around for nearly a decade now and it has survived many doomsday predictions regarding its demise. It has grown to become an accepted medium of transferring money, it has also been recognized as a currency in some countries like Japan. Why is the existing system broken? The present financial system is supported by  large-scale financial institutions  that provide financial services. This means banks, insurance companies, credit card companies, housing finance companies, money transfer companies etc. The problem is that while these businesses have existed for a long time, accessibility has always been an issue. According to the world bank, two bln people still do not have access to a bank account. Yet this present financial institution based payment system is stuck in an archaic era. People are expected to u

Bitcoin price is pushing on with its bullish gains as the cryptocurrency continues to reach the dizzying heights scaled in early March during the lead-up the SEC decision of the Winklevoss bitcoin electronic traded fund (ETF). It has been a month of continuing gains with a positive trend for the world’s most prominent cryptocurrency. Having started April at $1,068 on the Bitstamp Price Index (BPI), today’s trading shows price reach a high of $1,274. Bitcoin has now gained nearly 20% in value since the turn of April. Bitcoin prices since April began. BPI data reveals trading on Monday begain at $1,241 and a sustained trading period has seen an upward climb for the value of the cryptocurrency. Bitcoin prices were hovering above $1,250 at the start of Tuesday (midnight UTC) into the early hours of the day. At 07:30, a surge spurred prices from $1,252 to $1,260 in a 2-hour period. A more notable spike followed in the next 2-hour period as price pushed upwards of $1,270 to peak at $1,2

Contrary to most claims, Segregated Witness (Segwit) doesn’t necessarily require users to manually upgrade their systems or wallets in order to receive Segwit transactions. The activation of Segwit does provide notable changes to the layer one of the bitcoin network and as a result, wallet platforms will be required to alter their applications pertaining to the changes made by Segwit to the bitcoin protocol. For users of major bitcoin wallet platforms which already are Segwit-ready such as Blockchain, Coinbase, Copay, Ledger and Keepkey, upon the activation of Segwit, they will be able to receive Segwit-enabled transactions. // Let us help you become financially independent. Read exclusive stories, bitcoin analysis, and tutorials. Use the coupon code "CCN5" and get $5 off. Join  Hacked.com  now. // According to David Harding, the co-author of the Bitcoin.org developer documentation, users will be automatically introduced to Segwit-enabled versions of wallets, wallet addre

Offered its status as the original blockchain protocol, it must be no shock that bitcoin has prolonged dominated the digital currency markets. In terms of  marketplace capitalization , it dwarfs other cryptocurrencies. Its first-mover status and widespread adoption has (so far) provided bitcoin the dual advantage of network result and steep barriers to entry, retaining choices at bay. But there is proof that this longstanding narrative could be shifting. Latest infighting in bitcoin’s development local community has provided a uncommon opportunity for options to stress their worth propositions and even assert new ones (like getting a hedge in instances in which bitcoin’s potential would seem uncertain). This has led to an exciting, observable trend. While the complete pie of the cryptocurrency marketplace keeps developing more substantial, bitcoin’s slice is getting to be smaller sized. one. Bitcoin’s dominance decline The clearest illustration of bitcoin’s network result is the