A beginner's guide to bitcoin
Bitcoin is a digital currency that is being used increasingly all over the world. Find out more about how it works and how you can use it with our straightforward guides.Information index
BTC, short for Bitcoin, is a decentralized virtual currency that was invented by Satoshi Nakamoto. The anonymous inventor or group published a white paper in 2008 as a proof of concept, then released it as open-source prototype software in 2009.
Bitcoins can only be created as a reward for payment processing work, called mining, where users collectively offer their computing power to verify and record all transactions into a public ledger, called the blockchain.
As bitcoin continues to gain popularity, there still remains one of biggest hurdles for adoption from the early days – Buying your first bitcoins. There are several methods you can use acquire bitcoins.
Satoshi Nakamoto is the pseudonym used by a people or group of people who invented Bitcoin. Satoshi developed the original protocol and the blockchain technology that underlies bitcoin, Satoshi’s real identity is unknown.
Bitcoin and other cryptocurrency is a new technological innovation that has not yet been fully implemented into the legal framework of many countries across the globe. There are many legal aspects of Bitcoin and cryptocurrency in general to consider.
There are many ways of bitcoin storage and many different types of wallet software. Storing bitcoins does not involve storage of actual bitcoins per se, but involves the safe storage of the private key to the wallet addresses.
How is the price of cryptocurrency defined?
Cryptocurrency is a new revolutionary type of currency. Like any other currency or unit of account, they only have value because people think it has value. Some currencies are backed by gold; others are backed by nothing but hot air.
Ethereum vs Ethereum Classic
Ethereum has gone through many developments over the course of its life since its introduction. A major development is the ‘forking’ of Ethereum into two currencies.
Cloud Mining firms promise big profits, but is cloud mining a risky investment?
Cloud Mining are services which claim to host bitcoin mining hardware which mines bitcoins. Someone then purchases a certain amount of mining power from the company who then pay out a certain amount based on the bitcoins mined.
Why do you need a paper wallet?
One of the challenges facing bitcoin’s adopters around the globe is storage. How exactly are you supposed to keep your bitcoins secure if you plan on keeping a significant amount in one wallet? Well, the answer for most will be a paper wallet.
What Profit can I earn with bitcoin mining?
There are ways to earn from bitcoin mining typically involve upfront investment of mining hardware. Bitcoin mining earnings are calculated by mining power of your bitcoin mining hardware, measured in hashes per second.
What are the benefits of using bitcoin as a payment system?
Bitcoin offers many advantages over traditional banks. It allows sending payments internationally without concern for currency conversion, it allows transaction confirmation within 10 minutes typically, and transactions cannot be reversed once made.
What are the differences between bitcoin and the traditional banking system?
The traditional banking system works on regular Fait money. The U.S Dollar is the reserve currency, and can be printed at will as/when needed, the supply is not ‘capped’. Bitcoin works in a fundamentally different way to the fait system.
BitConnect Investment Opportunity
There are multiple ways to invest in the Bitconnect platform with different level of earning opportunity associated.
Investing in BitConnect Coin and Staking
The moment you acquire BitConnect Coin it becomes an interest bearing asset with Up to 120% return per year through PoS minting. All you have to do to earn with this method is to hold coins in your Bitconnect-QT wallet.
Investing in BitConnect Lending
Investing in BitConnect Lending
Earn from BitConnect Coin trading
This investment option can be used to profit on price fluctuation of BitConnect Coin (BCC). You can buy BitConnect coin at a lower price and selling them at higher price.
Earn from BitConnect Coin Mining
BitConnect Coin(BCC) mining is the process by which new BitConnect Coin are generated. BitConnect coin can be mined with CPU/GPU and does not need an ASIC miner like Bitcoin does.
How to buy BitConnect Coin?
Create an account on Bitconnect
How to connect your miners to BitConnect mining pool?
BitConnect (BCC) Mining pool is a way for BitConnect coin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block.
3 questions about cryptocurrencies mining & bitcoin
A little while ago, mining was defined as an extraction of valuable minerals or other geological materials from the Earth.
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