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With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It 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. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It 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. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It 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. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It 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. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
Re: What do you think is Bitcoin become legal in all countries?
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
I'm kind a bit late hearing this thing bitcoin. And since some of my friends are discussing money over it, my first thought on bitcoin is that it gives wealth to people, a currency that gives everyone of us an opportunity to become successful. Though people called it a scam, I don't believe them and just jump in, because I know it isn't. And now I'm so thankful to bitcoin because it teaches me a lot about everything, like, saving, investing, time management, etc. which is needed to become successful not only here in bitcoin but also in the real world.
Re: Already holding BTC and litecoin. Want to buy more. Which one?
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. Research produced by the University of Cambridge estimates that in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin
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.
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. 
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.
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.
When a user loses his wallet, it has the effect of removing money out of circulation. Lost bitcoins still remain in the block chain just like any other bitcoins. However, lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate.
Payment freedom - It is possible to send and receive bitcoins anywhere in the world at any time. No bank holidays. No borders. No bureaucracy. Bitcoin allows its users to be in full control of their money.
Choose your own fees - There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it's possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin. Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants' bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than with PayPal or credit card networks.
Fewer risks for merchants - Bitcoin transactions are secure, irreversible, and do not contain customers sensitiv
e or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs.
Choose your own fees - There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it's possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin. Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants' bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than with PayPal or credit card networks.
Fewer risks for merchants - Bitcoin transactions are secure, irreversible, and do not contain customers sensitiv
e or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs.
The viability of micropayments as a killer bitcoin app has proven to be questionable at best over the past seven years.
There's the issue of "mental accounting barriers" which were highlighted by cryptographer Nick Szabo as far back as 1996 do we have the mental capacity to truly pay attention to the difference between $0.05 and $0.10 in a single payment?
There's the chicken-and-egg issue of whether it is even worthwhile for content platforms to spend time and energy accepting and supporting bitcoin payments when the community of active wallet-holders is still somewhere in the mere hundred thousands globally. (Remember how little even the most savvy promoters made from their bitcoin paywalls?)
And then, of course, there's the block-size issue, which, unresolved, would render micro-payments uneconomical for consumers anyway.
Yet some of these critical issues seem to fade away when it comes to smart device transactions.
For one thing, mental accounting isn't very difficult for computers. And using a digital currency like bitcoin for micropayments as a method for verifying the identity of a connected device or for metering machine-to-machine transactions is more natural.
Embedding chips into sensors, phones, and other everyday smart devices at scale could also obviate the need for consumers to explicitly opt-in to using bitcoin, while simultaneously resolve the demand issue: with the right supplier relationships, it costs less to on-board a new device 'customer' than a new human customer.
Think you have the answers? Email twobitidiot@coindesk.com with feedback!
There's the issue of "mental accounting barriers" which were highlighted by cryptographer Nick Szabo as far back as 1996 do we have the mental capacity to truly pay attention to the difference between $0.05 and $0.10 in a single payment?
There's the chicken-and-egg issue of whether it is even worthwhile for content platforms to spend time and energy accepting and supporting bitcoin payments when the community of active wallet-holders is still somewhere in the mere hundred thousands globally. (Remember how little even the most savvy promoters made from their bitcoin paywalls?)
And then, of course, there's the block-size issue, which, unresolved, would render micro-payments uneconomical for consumers anyway.
Yet some of these critical issues seem to fade away when it comes to smart device transactions.
For one thing, mental accounting isn't very difficult for computers. And using a digital currency like bitcoin for micropayments as a method for verifying the identity of a connected device or for metering machine-to-machine transactions is more natural.
Embedding chips into sensors, phones, and other everyday smart devices at scale could also obviate the need for consumers to explicitly opt-in to using bitcoin, while simultaneously resolve the demand issue: with the right supplier relationships, it costs less to on-board a new device 'customer' than a new human customer.
Think you have the answers? Email twobitidiot@coindesk.com with feedback!
Every tech company is building a "platform" when they are speaking with investors, but there simply aren't many true platforms in bitcoin. I'd argue that there are currently only two nascent bitcoin platforms worth watching in 2016: Coinbase and 21 Inc.
(Both happen to be the industry's investor darlings, so maybe there's something to this whole platform thing.)
Of the two, 21 probably has the edge given the company is 'fiat-free' and won't risk jeopardizing its business if a third-party app developer misuses the product.
21 needn't worry about what its users do with the virgin coins they mine on their devices: 21 isn't even transacting in bitcoin, they're merely selling the hardware to create new bitcoins. Brilliant for keeping regulatory costs both tangible (legal fees) and intangible (employee headache) down to near zero.
The Coinbase compliance team, on the other hand, is on the hook if apps built using Coinbase's 'wallet-as-a-service' promote money laundering or illegal money transmission.
(Both happen to be the industry's investor darlings, so maybe there's something to this whole platform thing.)
Of the two, 21 probably has the edge given the company is 'fiat-free' and won't risk jeopardizing its business if a third-party app developer misuses the product.
21 needn't worry about what its users do with the virgin coins they mine on their devices: 21 isn't even transacting in bitcoin, they're merely selling the hardware to create new bitcoins. Brilliant for keeping regulatory costs both tangible (legal fees) and intangible (employee headache) down to near zero.
The Coinbase compliance team, on the other hand, is on the hook if apps built using Coinbase's 'wallet-as-a-service' promote money laundering or illegal money transmission.
Every tech company is building a "platform" when they are speaking with investors, but there simply aren't many true platforms in bitcoin. I'd argue that there are currently only two nascent bitcoin platforms worth watching in 2016: Coinbase and 21 Inc.
(Both happen to be the industry's investor darlings, so maybe there's something to this whole platform thing.)
Of the two, 21 probably has the edge given the company is 'fiat-free' and won't risk jeopardizing its business if a third-party app developer misuses the product.
21 needn't worry about what its users do with the virgin coins they mine on their devices: 21 isn't even transacting in bitcoin, they're merely selling the hardware to create new bitcoins. Brilliant for keeping regulatory costs both tangible (legal fees) and intangible (employee headache) down to near zero.
The Coinbase compliance team, on the other hand, is on the hook if apps built using Coinbase's 'wallet-as-a-service' promote money laundering or illegal money transmission.
(Both happen to be the industry's investor darlings, so maybe there's something to this whole platform thing.)
Of the two, 21 probably has the edge given the company is 'fiat-free' and won't risk jeopardizing its business if a third-party app developer misuses the product.
21 needn't worry about what its users do with the virgin coins they mine on their devices: 21 isn't even transacting in bitcoin, they're merely selling the hardware to create new bitcoins. Brilliant for keeping regulatory costs both tangible (legal fees) and intangible (employee headache) down to near zero.
The Coinbase compliance team, on the other hand, is on the hook if apps built using Coinbase's 'wallet-as-a-service' promote money laundering or illegal money transmission.