What is Bitcoin?
How do you Earn Bitcoin?
Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009.Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
The bitcoin blockchain is a public ledger that records bitcoin transactions.
It is implemented as a chain of blocks, each block containing a hash of the previous block up to the genesis block of the chain. A network of communicating nodes running bitcoin software maintains the blockchain.
Satoshi Nakamoto stated in his white paper that: “The root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.
According to The NewYork Times, libertarians and anarchists were attracted to the idea. Early bitcoin supporter Roger Ver said: “At first, almost everyone who got involved did so for philosophical reasons.
Bitcoin is a digital asset designed to work in peer-to-peer transactions as a currency. Bitcoins have three qualities useful in a currency, according to The Economist in January 2015: they are “hard to earn, limited in supply and easy to verify”.Per some researchers, as of 2015 bitcoin functions more as a payment system than as a currency.
Because of bitcoin’s decentralized nature and its trading on online exchanges located in many countries, regulation of bitcoin has been difficult. However, the use of bitcoin can be criminalized, and shutting down exchanges and the peer-to-peer economy in a given country would constitute a de facto ban.The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Regulations and bans that apply to bitcoin probably extend to similar cryptocurrency systems.
Mine Bitcoins with
Familiar user interface
Lightweight and fast
from Bitcoin history
The domain name “bitcoin.org” was registered on 18 August 2008. On 31 October 2008, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list.Nakamoto implemented the bitcoin software as open–source code and released it in January 2009. Nakamoto’s identity remains unknown.
Bitcoin network was created
On 3 January 2009, the bitcoin network was created when Nakamoto mined the first block of the chain, known as the genesis block.Embedded in the coinbase of this block was the following text: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”This note has been interpreted as both a timestamp and a comment on the instability caused by fractional-reserve banking.
First major users of bitcoin
After early “proof-of-concept” transactions, the first major users of bitcoin were black markets, such as Silk Road. During its 30 months of existence, beginning in February 2011, Silk Road exclusively accepted bitcoins as payment, transacting 9.9 million in bitcoins, worth about $214 million.
In 2013, prices started at $13.30 rising to $770 by 1 January 2014.
In 2014, prices started at $770 and fell to $314 for the year. In February 2014 the Mt. Gox exchange, the largest bitcoin exchange at the time, said that 850,000 bitcoins had been stolen from its customers, amounting to almost $500 million. Bitcoin’s price fell by almost half, from $867 to $439 (a 49% drop). Prices remained low until late 2016.
China banned trading in bitcoin
Prices started at $998 in 2017 and rose to $13,412.44 on 1 January 2018.On 17 December 2017 bitcoin’s price reached an all-time high of $19,666.
China banned trading in bitcoin, with the first steps taken in September 2017, and a complete ban starting 1 February 2018. Bitcoin prices then fell from $9,052 to $6,914 on 5 February 2018. The percentage of bitcoin trading in renminbi fell from over 90% in September 2017 to less than 1% in June.
How can I get free Bitcoin ?
“ You will never get paid just for browsing the web — says who? Actually, you can! With CryptoTab Browser you surf the internet and mine bitcoin simultaneously. ”
“ Hi there! I’m looking for people who want to earn some extra money! Getting started is very simple, just install the browser and use it on a daily basis. ”
“ Let me tell you the easiest way to start making income in cryptocurrency. Download and install new CryptoTab browser with built-in mining algorithm and start using it. ”