NEW HERE!!-READ TO UNDERSTAND WHAT IS BTC
WHAT IS BTC*-A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet
What is the meaning of bit coin?
Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.
How a Bitcoin is made?
New bitcoins are generated by a competitive and decentralized process called "mining". This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.
How old is Bitcoin?
Bitcoin is 8.36 years old.
The software has been running and the blockchain has been growing since January 3, 2009 at 2:15PM EST, when the genesis block was created. The paper, Bitcoin: A Peer-to-Peer Electronic Cash System, was published on October 31, 2008 at 2:10PM EST.
What is mining in Blockchain?
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.
Is the Bitcoin legal?
Bitcoin is of interest to law enforcement agencies, tax authorities, and legal regulators, all of which are trying to understand how the cryptocurrency fits into existing frameworks. The legality of your bitcoin activities will depend on who you are, where you live, and what you are doing with it
What is block chain technology?
What is a 'Blockchain' A blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as 'completed' blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order.
New Bitcoin Price All Time High, New Bubble Fears
David Ader, chief macro strategist at Informa Financial Intelligence, is now trying to show how Bitcoin's gains resemble that of the Nasdaq Telecommunications Index before the tech bubble burst.
Placing Bitcoin’s growth chart over that of the Nasdaq Telecommunications Index, and its subsequent rise, Adler is surmising that Bitcoin has hit the same peak and thus should be ready to plummet in a similar style.
Nasdaq reached its peak in 2000 before a monumental crash and for Adler, the similarities are there for Bitcoin’s run to this most recent all time high.
"This is the price chart for an overly frothy market, in my opinion. I just don't see anything quite as comparable to this in bubblelicious terms," said Ader, a former top-rated bond market strategist.
Bitcoin’s growth and most recent spike, have been attributed in part to many Wall Street investors starting to explore the digital currency after it overcame its scaling civil war on Aug. 1.
There is expected however to be another fork on the horizon for Bitcoin - in November - and depending on the outcome of that many feel it could be the prick to the bubble, or perhaps another stepping stone to even higher prices.
With all the hype and speculation around Bitcoin, there is contrasting ideas and analysis. Case in point is another graph comparing Bitcoin’s rise to bubbles gives totally different information.
An investigation and comparison of Bitcoin’s growth with other bubbles since 1990 show a totally different outcome.