Bitcoin address is a unique identifier that serve as virtual location where crptocurrency can sent.
           It is a long 27-34 string of alphanumeric that acts similarly to an email address or username in any social network. These are also utilized to timestamp and record each and every transaction in the Blockchain.

It can denote one single individual, a group of persons, or any organization depending on their team spirit and level of security maintained.
        So therefore It is advisable to use a new address every time of transaction.

Have you ever wonder if bitcoin is being govern by any company?
 Well bitcoin is not a company own by someone and it's also not control by anyone,it has no CEO,no president and rulling council.the software is a protocol and work on it own and being upgraded by developers.
  They are also supported by groups like miner who eho own the machine that generate new bitcoin and maintain the security of the network.
So no one person or group can unilaterally make changes to the software that run it network.

i agree with you on man city controlling the the game,but real madrid a very tricky and dangerous kind of team,especially in the champions league.
They also have a lot of talented players,there attackers are very smart as well.
Man city can only advance if dey keep cool and avoid make any silly mistakes,cause madrid must surely punish them for it if they do.

that's an interesting point too.

Looking at the basic fact about the limit of bitcoin according to the protocol for the bitcoin network,it was design with a limit of 21 million coin.
   My question now is are cryptocurrency miners be unable to generate new bitcoin after it reach the 21 million coin limit?
Since there are over 19.15 million bitcoins in circulation if am not mistaken.

noted boss.

How to teach cryptocurrency to your children
1
Start with the basics and use analogies. Start by defining and describing the nature of money. ...
2
Play games and use real-life examples. ...
3
Blockchain is a digital lego. ...
4
Show them how to buy cryptocurrency. ...
5
A digital wallet as a special type of piggy bank. ...
6
Watch educational videos.
How to teach cryptocurrency to your children - Cointelegraph
cointelegraph.com

Being a chelsea fan this period is very hard and terrible.
Am a die hard chelsea fan but it really not easy supporting my belove football club.
I really don't know how my other fans are feeling at the moment too.
    So i love to hear from my fellow fans and even other rival fans how horrible the season have been for club like chelsea?

when am free,i like being indoors.and i like chatting and music a lot.

My people i no dey understand this our country again oh.
You go see person today especially girls before u know she don disappear in the name of visiting friends.
  The one wey just happen last night just tire me,my two neighbours pikin wey be girls go there friend birthday party till now them still them still dey look for them.
I no just understand the pattern of the country again.

thanks..i just like learning from already experience persons

I will really like to know if there are other step of mining bitcoin apart from these step?

When you choose and set up your bitcoin mining hardware.

And to create a dedicated wallet.

And as well configuring your mining equipment.

I  really like to be enlighten about bitcoin mining system.
Though i read few of them,the like of CPU,FPGA and CLOUD MINING.
   If there are more important once i will love to know about them.

i wish to be too

am very happy to see that someone of a high rank care for people like us(newbies)to grow in this forum.and hope other persons of your ranks have the same ambition toward newbies to make progress.
Cause we really need your acknowledgement thank.

copied or not it will still be useful for many persons here.

Metaphor: Cryptocurrency is a bit like online banking without a central bank. It is software-based, like an online banking platform. There is a ledger (called a blockchain), balances, and account numbers. You access your balances by using a password and can make transactions this way. Just like with online banking, yu don’t need to know how it works under the hood to use it.

What is Cryptocurrency? Cryptocurrency is a type of digital asset that typically functions as a currency. The system that makes a cryptocurrency possible is based on cryptography (“crypto”) and a cryptocurrency is meant to be used as a currency (“currency”). With that in mind, not every digital crypto asset is meant to be used as a currency like the popular cryptocurrency Bitcoin is. For example, Ethereum is a decentralized application platform and the main use case of the cryptocurrency Ether is to pay transaction costs on the Ethereum network.

What is Bitcoin? Bitcoin is a software file stored on computers across the world that acts as a ledger of financial transactions called a “blockchain.” The ledger contains account numbers called “public addresses” associated with balances of Bitcoin. People can move around balances of Bitcoin if they have the passwords (or “private keys”) to those accounts using software called a “cryptocurrency wallet” (see description below). Bitcoin is the name of both this system and its unit of the currency. You can phrase it like this, “balances of Bitcoin tokens are moved around on the Bitcoin blockchain by creating transactions in Bitcoin wallets.”

What is Blockchain? Technically Blockchain is first and foremost a database protocol (a set of rules) for sorting data into “blocks,” but it’s easier to think of a Blockchain as a type of database. Essentially, it is a spreadsheet where data is stored in cells (or “blocks”) that are linked together in order by cryptographic codes called “hashes.” This database is generally decentralized and distributed on many computers instead of being stored in one central location or managed by one central entity. In Bitcoin, blockchain is generally used to describe both the public ledger where all transaction data is stored and technology (the protocol) behind the ledger. Many who aren’t believers in Bitcoin as a currency / digital asset are supporters of blockchain technology and its many applications both within finance and beyond.

On Being Decentralized and Distributed. Instead of Bitcoin being hosted on one computer or one company’s computers, Bitcoin is hosted on many computers by many different entities (it is distributed). Meanwhile, everything is either done democratically or is controlled by algorithms, so there isn’t a need for a “centralized” middle-man like a bank or government (it is decentralized). Bitcoin’s blockchain is in this sense both decentralized and distributed.

How is Cryptocurrency Different From Fiat Currency? Fiat currency, like the U.S. dollar, is controlled by central banks and controlled by states. It is legal tender and you can pay your taxes with it. Cryptocurrency, like Bitcoin, isn’t controlled by a central entity… but it isn’t legal tender and you can’t pay your taxes with it. Otherwise, both fiat currencies and crypto currencies act as mediums of exchange and stores of value. With that in mind, some argue that cryptocurrency is a digital asset with exchange value, but not a true currency.

Can I buy things with Cryptocurrency? Cryptocurrency can be used as a payment method for any good or service that accepts cryptocurrency. The most common cryptocurrency used as payment is Bitcoin. As time goes on, accepting Bitcoin and other cryptocurrencies as payment is becoming more common. Check out a list of things you can buy with Bitcoin.

What are the Benefits of Using Cryptocurrency as a payment method? There are a number of benefits of cryptocurrency as a payment method. The main benefits of cryptocurrency in this sense are the often low transaction costs and quick transaction fees compared to other payment systems. On a good day, cryptocurrency is the quickest and cheapest way to send money around the globe (XRP is a great example of this). Cryptocurrency is also an easy way to make payments online, especially for peer-to-peer transactions. Another big benefit is that cryptocurrency doesn’t require trust, which removes potential worry for both the sending and receiving party. Meanwhile, for some people in some states, cryptocurrency can act as an alternative to a states’ currency (which can be good if that currency is suffering from rapid inflation for example).

How do I Buy / Sell Cryptocurrency? One can buy and sell cryptocurrencies like Bitcoin via online brokers or exchanges like Coinbase or GDAX. Exchanges are like digital stock exchanges, but for cryptocurrencies. Learn how to trade cryptocurrency or check out our cryptocurrency investing starter kit.

Is Cryptocurrency Legal? In general, cryptocurrency is legal in every respect in the U.S. and much of the world. The only rules of thumb are 1. you have to pay taxes on it and 2. anything that would be illegal otherwise is also illegal with cryptocurrency.

Is Cryptocurrency Taxable in the U.S.? Cryptocurrency is taxed as an investment property, which means you have to tally profits and losses at the current market value of a cryptocurrency when you sell it, use it, or trade it and then pay the capital gains tax on profits in a calendar year. Please take time to learn about the tax implications of cryptocurrency.

What is an ICO? An ICO is an initial coin offering, a way for a new coin to raise money by offering a pre-sale of an up-and-coming token. ICOs are controversial. On one hand, some ICOs have been scams, on the other hand, some states have worried that ICOs are mimicking securities without following the securities rules. One should do extra research before participating in an ICO.

What is a token? Token is a word that has a few different meanings in cryptocurrency. In simple terms, it just describes a cryptocurrency and its unit of value (a cryptocurrency = a token). For example, one could say “I have 10 Bitcoin tokens.” The term is also sometimes used to describe cryptocurrencies existing on other coin’s networks. For example, the KIN ICO is a token on the Ethereum network. Lastly, encrypted bits of data that don’t contain identifying information are also called “tokens,” this type of token is also used in cryptocurrencies. In other words, what the term means depends on context.

How Do Transactions Work? Software called a cryptocurrency wallet (see below) is used in conjunction with an account number and password (technically public address and private key). The private key (known only to its owner, like a password) is used to create a signature that allows the owner to move around funds on the blockchain. Transactions are then secured on the blockchain in sequential blocks by “miners” (see the next section). Almost all cryptocurrencies work like this.

How Do I Store Cryptocurrency? In overly simple terms, you essentially “store” cryptocurrency in cryptocurrency wallets (see the next point for the technical details). For long term, you’ll likely want a “cold wallet”(where you store your private keys offline). For short term use, you might use a range of options or even temporarily keep funds on an exchange (but be careful, if it is connected to the internet, it is a “hot target”).

What is a Cryptocurrency Wallet? A wallet can be thought of as software that allows one to store cryptocurrency and create cryptocurrency transactions. This is a simple way to think of a wallet even though cryptocurrency isn’t technically stored in a wallet (instead public addresses are associated with transactions recorded on the blockchain, and thus are associated with balances, which the wallet software can read and display for you). More technically, a wallet is software that allows you to store your private keys, view balances associated with public addresses, and create and sign outgoing transactions. With that noted, one must differentiate between wallets where you control your private keys (like the Bitcoin Core wallet), and custodial wallets where third parties host the wallet for you and are in control of the private keys (like the wallets on Coinbase or GDAX).

What is a Node? Since cryptocurrency is distributed many computers around the world have to run the software. Any computer running a copy of the software is “a node.” A full node runs a full copy of the blockchain.

How are New coins Created? When a transaction is created in a wallet it is broadcast to everyone in the Bitcoin network. For that transaction to be added to the ledger, users running mining software must solve cryptographic puzzles that let them add a block of transactions to the blockchain. The reward for adding a block is newly minted cryptocurrency. Thus “mining” is cracking puzzles to play digital accountant, and new coins are minted as rewards for mining transaction blocks.

How is Bitcoin Secure? Bitcoin is secure for two main reasons. 1. It uses a lot of one-way encryption that makes everything that is encrypted next to impossible to hack (it requires a ton of work). 2. It is distributed and so there is no central software to hack.

How does the cryptography aspect of Bitcoin work? At the core of Bitcoin, in terms of cryptography, is cryptographic hash functions. Key concepts include public-key cryptography and proof-of-work functions. If you want a crash course in the cryptography behind those terms, clicks those links and try reading the Bitcoin white paper: Bitcoin: A Peer-to-Peer Electronic Cash System.

What Happens If I Lose My Keys or if Someone Steals My Cryptocurrency? If you lose your private key, you lose access to the balances associated with it. If someone gets access to your crypto and they steal it, there is generally no way to resolve this issue. However, if you use a third party platform, like an exchange, and the exchange and not your account is hacked, then you might have recourse. The major exchanges tend to be good about reimbursing users in the case of a hack.

How Can I better Secure My Cryptocurrency? Since losing your keys and theft are real issues, it makes sense to follow some best practices of basic internet security. Keep your keys backed up offline (learn more about secure cold wallets), don’t store all your crypto in one location, be careful about URLs (make sure the URL is the real one), use a browser dedicated to crypto, use two-factor authentication on any account you can, choose strong unique passwords, and don’t use your public email to log into your accounts. Taking just a few of these steps will go a long way to protecting you, taking none of these steps is asking for trouble. As a rule of thumb two-factor authentication is a must, so make sure it is enabled on all platforms that allow it! TIP: Although there are exceptions to this rule, the main security risk with the major cryptos isn’t the software (the software takes a ton of work to hack) or the major exchanges (the major ones are ensured, keep most of their funds in cold storage, and have security teams), it is people not taking care to secure their accounts.

Is Bitcoin Anonymous? Bitcoin is pseudo-anonymous. Every transaction is recorded on the public ledger (the blockchain), but no identifying data is used. Everyone can see the transaction and the public wallet address associated with it, but no one knows who made the transaction (unless that person or entity makes that information public). Other cryptocurrencies have more or less focus on privacy than Bitcoin. Some cryptocurrencies, like Monero are truly anonymous (in theory). With Monero, not even transaction data is public.

What is a smart contract? A smart contract is exactly what it sounds like, a “smart” (software-based and programable) “contract” (a set of conditions that when met execute the terms of the contract). Smart contracts can be written to a cryptocurrency’s blockchain to create a trustless contract (a peer-to-peer contract that doesn’t require a middle-man or trust). Unlike paper contracts a software contract can execute any function that can be executed by the software once conditions are met. This means in theory smart contracts can replace real contracts, but also do anything software can do. Ethereum’s system relies heavily on smart contracts, anyone can create a smart contract on Ethereum if they have the native Ether token to pay the fee for using the system. TIP: Bitcoin transactions are smart financial contracts, but Ethereum allows for smart contracts for much more than just financial transactions. Ethereum’s contracts can distribute new tokens, double as insurance contracts, or anything you can think of.

On Being Peer-to-Peer and Trustless. An important feature of cryptocurrency is that it is trustless. The encryption, code, blockchain, etc all comes together to allow for a trustless peer-to-peer distributed and decentralized system. That sentence might sound jargon-y, but it contains some important points. At the core, the idea is that all the aspects of cryptocurrency come together to create a system that doesn’t rely on trusting your peers or trusting a middle-man. Contracts written to the blockchain are written in stone, there is no need for trust or middlemen to ensure the execution of a contract once its conditions are met!

Crypto Terms: “FOMO” is fear of missing out (an emotional response to seeing the price move a lot and wanting in). FUD is fear, uncertainty, and doubt that can affect prices of assets. “HODL” is a misspelling of hold from an old forum post (it today means “hold on for dear life during big price movements”). A “hard fork” is like a fork in the road, a copy and paste of software that allows each copy to branch off in a different direction (when this happens with Bitcoin the ledger is duplicated along with balances, meaning people get the newly forked coins for free). An “Airdrop” is a method of distributing newly minted coins to the wallet addresses of current coin holders.

7 Facts About Bitcoin!

Bitcoin (BTC) is an astonishing phenomenon in and of itself. It showed us that it's possible to have a digital currency that doesn't rely on banks or governments. Plus, the blockchain technology that enables Bitcoin could transform various industries, from finance to healthcare.

Curious to know more about the world's first cryptocurrency? Here are some surprising Bitcoin facts.

1. Around 20% of Bitcoin has been lost forever
According to crypto data firm Chainalysis, around 20% of Bitcoin has been lost or is stuck in wallets that can't be accessed. Today that equates to 3.76 million BTC (worth about $190 billion).
If you're wondering how that's possible, there are a few ways. First, about 1.1 million BTC is held by the top coin's anonymous creator, Satoshi Nakamoto, according to Decrypt. The consensus is that Nakamoto won't ever touch those coins.

Sadly, some people passed away without sharing access to their Bitcoin, which accounts for another chunk of out-of-circulation coins.

Another culprit? Lost keys. Crypto keys are like a bank account PIN, and you need them to access or trade your coins. Unfortunately, there's no handy "forgot password" function. So if you lose your keys, you're unlikely to see those coins again.

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Hardware crypto wallets are a secure way to store your assets offline, as they're difficult to hack. But if you lose the wallet, the password, or the recovery phrase, it's bye-bye crypto. And there are several stories of people losing their wallets. In fact, one man in the U.K. believes his hard drive containing 7,500 BTC (about $380 million) is at his local garbage dump site and has been trying to get permission to search there for years.

2. Brock Pierce took out the first Bitcoin mortgage in 2019
Brock Pierce, entrepreneur and former child actor of The Mighty Ducks fame, is said to be the first person to take out a fully crypto-based mortgage. The crypto enthusiast put up over 3 million BTC to buy a renovated chapel in Amsterdam, The Netherlands.

More recently, in the U.S., United Wholesale Mortgage announced it would accept Bitcoin and other cryptocurrencies as mortgage payments. It plans to roll out its crypto payment option by the end of the year.

3. There have been 668 million Bitcoin transactions
According to Blockchain.com, the total number of Bitcoin transactions since its launch in 2009 is 668 million. That number has increased more steeply in recent years. At the time of this writing, an average of 265,714 transactions took place each day.

4. Bitcoin is legal tender in El Salvador
On Sept. 7, El Salvador became the first country to accept Bitcoin as legal tender. President Nayib Bukele announced the controversial move at Bitcoin Miami earlier this year. Bitcoin joins, but will not replace, the U.S. dollar as a form of payment in the country.

The government promised that each citizen who opened a national digital wallet would receive $30, but many El Salvadorians have protested the whole plan. And the World Bank refused to help the country with implementation due to environmental and transparency concerns.

5. The last Bitcoin will be mined in 2140
Only 21 million Bitcoin can ever be produced. It's built into the coin's code or DNA. Right now, about 18.8 million have been mined, though as we saw above, some of them are already lost.

The way Bitcoin mining works, the number of Bitcoins that can be mined gets halved every four years. This means that although almost 90% of the total possible Bitcoin is already in circulation, it will take another 120 years or so to produce the remaining 2.2 million coins.

6. A pizza purchase was the first commercial Bitcoin transaction
On May 22, 2010, Laszlo Hanyecz paid 10,000 BTC for two Papa John's pizzas -- worth about $41 at the time. This was the first commercial Bitcoin transaction and is now commemorated through Bitcoin Pizza day each year.

At today's prices, that 10,000 BTC would be worth over $500 million -- which is perhaps the real reason the story has become part of Bitcoin folklore.

7. There are almost 100,000 Bitcoin millionaires
It's difficult to know for sure how many Bitcoin millionaires -- or billionaires -- there are because wallets are anonymous and the price of Bitcoin fluctuates, sometimes wildly. But according to BitInfoCharts, there are currently 98,180 addresses with BTC worth $1 million or more in them.

 
10 facts about cryptocurrency you should know


The world of cryptocurrencies is constantly evolving, and the world is paying attention. Veteran or intending crypto investors are always on the lookout for important facts about crypto.
Cryptocurrencies were in the headlines in 2021, which led to a growing interest in learning how to buy cryptocurrencies and figuring out easy ways to buy and sell bitcoin in Nigeria. It’s no surprise that some investors are hoping to learn more about how digital assets work. But with cryptocurrencies, sometimes the truth can be stranger than fiction.
 I will outline 10 important facts about cryptocurrencies. But first, a disclaimer: no list can possibly be exhaustive.

1. The first commercial bitcoin transaction was for pizza
A man in Florida paid 10,000 bitcoins for two Papa John’s pizzas on May 22, 2010. This was the first Bitcoin payment for goods, and it was worth around $40 at the time. This is widely acknowledged as the first commercial bitcoin transaction. You’d be a bitcoin millionaire if you had that many bitcoins in September 2022. 10,000 bitcoins are worth more than $190 million in the market.

2. There are more than 18,000 cryptocurrencies in existence
There are over 18,000 digital currencies in circulation as of October 2022. Although not all of them are available on exchanges, some require their own wallets. This includes many altcoins such as USDT, XRP (XRP), Solana (SOL), Binance USD (BUSD), and more.

There are so many coins and tokens available because it is relatively simple to create and distribute a new cryptocurrency. However, as of October 2022, the top 20 virtual currencies account for approximately 87% of the cryptocurrency market cap.

3. The total amount of bitcoins is limited
An interesting bitcoin fact is that the protocol for the bitcoin network was designed with a limit of 21 million coins in mind. As a result, cryptocurrency miners will eventually be unable to generate any new bitcoins.

Currently, there are 19.15 million bitcoins in circulation. This leaves a few million bitcoin to be mined, which is one of the reasons mining is still a popular activity.

4. Nigeria is Africa’s largest crypto market
Crypto adoption in Nigeria is increasing at an exponential rate. Due to the constant depreciation of the Naira, the country now has more than 50% monthly active adult crypto traders, as many citizens prefer to store their money in digital currencies rather than fiat cash. Even going as far as to purchase airtime from crypto wallets.

Despite the Nigerian government’s ban on cryptocurrencies in 2021, many Nigerians continue to trade them. According to Merchant Machines data, Nigeria will be at the forefront of global crypto adoption by 2030.

5. Ethereum fees are referred to as gas
When using the Ethereum blockchain to complete transactions, you’re required to pay for gas. On the Ethereum network, gas represents the computational effort used to buy and sell Ethereum in Nigeria.

Using the network for apps or transactions, even if it’s converting another coin to ether, means you need to pay for gas. Depending on the transaction and traffic on the blockchain, gas fees can feel quite high in some cases.

6. NFTs aren’t currencies
Even though they grew in popularity in 2021 and are considered digital assets, NFTs aren’t cryptocurrencies. They’re tokens that are not used as a medium of exchange. And NFTs can’t be divided or replicated.

NFTs can be used as alternative investments similar to artwork or collectibles. In fact, that’s how some people see them — digital collectibles and artwork that may potentially grow in value.

7. Dogecoin started as a joke
One of the hottest cryptocurrencies in 2021 was Dogecoin (DOGE), as its market capitalization grew, in part due to support from Elon Musk. It recently replaced the Cardano ADA as the 6th largest crypto in the world. However, this cryptocurrency started out as a joke.

The idea was that there were so many coins out there, just being introduced. So the creators of dogecoin invented the cryptocurrency around the image of the surprised-looking Shiba Inu dog. This was a popular meme in 2013 when dogecoin was introduced.

8. The creator (or creators) of bitcoin remains anonymous
Bitcoin is widely known to be created by Satoshi Nakamoto, a pseudonym that is not connected to a real person. The author who distributed the protocol paper via a cryptography mailing list remains unknown. There is much speculation about Satoshi Nakamoto’s identity, but no one knows who he is. Nobody knows if they’re a single person or a group of people.

9. Elon Musk has a lot of pull when it comes to cryptocurrency prices
Elon Musk has contributed to huge swings in cryptocurrency prices in 2021. The market pays attention when he tweets or speaks about cryptocurrencies. At least, his ardent supporters do.

Musk has had an impact on the price of bitcoin, dogecoin, and the cryptocurrency market as a whole simply by announcing which coins Tesla will accept for car purchases.

Some countries ban cryptocurrencies
Not every country allows the use of cryptocurrencies. Some countries, like Turkey, don’t allow cryptocurrency payments, while others, like Nigeria, ban cryptocurrency exchanges. It’s practically impossible to actually ban the use of cryptocurrencies, even though countries can regulate access to service providers and shut down exchanges. But with one of the world’s largest economies coming out against cryptocurrencies, it’s hard to say how things will change in the future.

How to get started investing in crypto
If you are a newbie in the crypto market, it’s important to understand your portfolio goals and interests, as well as which coins you think are likely to have staying power. Learning how to invest money is about more than jumping on a popular bandwagon.

To get started on your crypto investment journey, download the best crypto exchange app, Bitmama on Android and iOS to enjoy a seamless and user-friendly experience.