Author Topic: WHAT IS BITCOIN?  (Read 346 times)

Offline kemswag

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WHAT IS BITCOIN?
« on: April 27, 2018, 07:19:39 AM »
Bitcoin is a digital currency that is gradually replacing fiat currency. Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games.Aside these, bitcoin may be used for several purposes especially for trading online on exchanges. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address which you need to backup to secure your wallet. The bitcoin wallet works just like an e-mail which you can send to friends so they can send payments to you and vice  versa.

Online Ikkelins

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Re: WHAT IS BITCOIN?
« Reply #1 on: May 02, 2018, 04:25:55 PM »
Bitcoin is a digital currency that is gradually replacing fiat currency. Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games.Aside these, bitcoin may be used for several purposes especially for trading online on exchanges. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address which you need to backup to secure your wallet. The bitcoin wallet works just like an e-mail which you can send to friends so they can send payments to you and vice  versa.

please how do i install bitcoin wallet on my pc


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Re: WHAT IS BITCOIN?
« Reply #2 on: May 02, 2018, 04:34:37 PM »
Bitcoin (₿) is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name 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. 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 were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.


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Offline lavskrypto

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Re: WHAT IS BITCOIN?
« Reply #3 on: May 03, 2018, 12:34:15 AM »
Bitcoin (₿) is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name 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. 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 were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
And I'm sure more people are yet to come and join the bitcoin utilization platform. Bitcoin and blockchain are still in thei infancy.

Offline CryptoBlast

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Re: WHAT IS BITCOIN?
« Reply #4 on: May 03, 2018, 09:53:14 AM »
Bitcoin is the first ever virtual currency ever to go decentralized due to the model upon which the Blockchain technology operates. You can call it the father of all cryptocurrencies.

Offline lavskrypto

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Re: WHAT IS BITCOIN?
« Reply #5 on: May 21, 2018, 01:12:32 AM »
please how do i install bitcoin wallet on my pc

There are a few wallets around. I know of Blockchain that can help, but as I said, there are a few providers around
 You can try searching for them and you'll get some good ones to join

Offline kemswag

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Re: WHAT IS BITCOIN?
« Reply #6 on: May 22, 2018, 02:20:59 PM »
Bitcoin is surely the future currency for all to see

Offline CrypMania

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Re: WHAT IS BITCOIN?
« Reply #7 on: July 14, 2018, 11:33:01 PM »
Bitcoin is the first decentralized digital currency developed on the blockchain technology by anonymous programmer, Satoshi Nakamoto.

Offline Gmail007

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Re: WHAT IS BITCOIN?
« Reply #8 on: July 19, 2018, 03:36:45 PM »
BTC- A virtual currency based on cryptology
BTC total volume: 21 million   Block Time: 10 minutes Launched Date: 2009/1/9
Hash function: SHA-256  Time to reduce in half: Every 4 years.

Offline serggg

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Re: WHAT IS BITCOIN?
« Reply #9 on: October 05, 2018, 06:15:08 AM »
Today, bitcoin is 113 billion dollars. And soon there will be even more

Offline serggg

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Re: WHAT IS BITCOIN?
« Reply #10 on: October 21, 2018, 01:21:33 PM »
There are no people who are interested in bitcoin. Apparently novices do not go to the forum

Offline xela17

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Re: WHAT IS BITCOIN?
« Reply #11 on: October 31, 2018, 11:26:10 PM »
is a cyptocurrency

 

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