Bitcoin is a cyber currency that has attracted a lot of media attention over the last two years, and continues to do so. It was created in 2009 by an anonymous Bitcoin group or individual, who used the nickname Satoshi Nakamoto, according to which Bitcoin is the smallest currency unit. Cryptocurrency is the first and arguably the most popular. Originally only interested in the internet elite, Bitcoin has gained more appeal in recent years and promises respect for its own currency.
How does Bitcoin work?
It can be difficult to understand the details of how Bitcoin works, as it is not subject to central control as a common currency, but because each transaction is collectively supported by a network of users. There are no coins and no banknotes, no bullion stored in a vault, but the supply of Bitcoin is limited, it will stop at 21 million. Every 10 minutes, 25 Bitcoin are found by Bitcoin “miners”, and the number of Bitcoin released every 4 years will be halved until it reaches the limit. This means that there will be no further release of Bitcoins after 2140.
Why do I need Bitcoin news?
The price has historically been very variable, with occasional highs and lows. Recently, the price of a Bitcoin has risen more than 10 times in two months. In 2013 several Bitcoin Millionaires were made overnight when the value of Bitcoin wallets increased dramatically. If you already have some bitcoins in your digital wallet, or are thinking of diving a finger into the water, you should really follow Bitcoin News. Bitcoin trading is becoming more and more popular as an alternative or add-on to traditional forex trading, and support is growing as more brokers move forward.
Although the rate of Bitcoin discovery has been steadily declining, interest in Bitcoin news remains. There is a real and ongoing demand for reliable information on its value. Bitcoin recently received a strong endorsement from PayPal, and will no doubt build confidence in its credibility as a reliable alternative to regular bank cards or cash transactions on the Internet and on the main streets. This could dampen criticism of Bitcoin, which it says is a system used to accept or validate transactions called Blockchain, and which can be attacked by hackers.