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What is a bitcoin and how does it work?
Bitcoin future or how high could bitcoin go? In reality there is a whole industry, fields of research, and grassroots movements growing. Modern technologies allow you to exchange another currency for btc and buy it. As a reward for solving the hard problem of creating a new block, the miner that solved it is automatically assigned some new bitcoins (25 btc) as well as the transaction fees from all the transactions in the block. What is the purpose of bitcoin? In any currency, you need to be able to keep track of transactions; There is the easiest and at the same time, the most unreliable option. It is an idea analogous to traditional mining, but the process uses computing power. Small wonder that bitcoin emerged in 2008 just after occupy wall street accused big banks of misusing borrowers' money. Mining is the process that allows a bitcoin to come into the present world. Money can be exchanged without being linked to a real identity. Bitcoin is made through a process called bitcoin mining, derived from data mining. For the complete simple explanation watch this video, here's what i'll cover:
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At 99bitcoins we translate bitcoin to plain english.
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In this video, i explain what the basics of bitcoins then what does it mean by investing in bitcoin. Bitcoins are mined by computers around the world, as incentive for validating transactions. Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name satoshi nakamoto. As a reward for solving the hard problem of creating a new block, the miner that solved it is automatically assigned some new bitcoins (25 btc) as well as the transaction fees from all the transactions in the block. The how bitcoin accomplishes it is where the differences become prominent.
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What is the purpose of bitcoin?
A cryptocurrency and decentralized digital currency without a central bank or single administrator. An explanation of each part of bitcoin. What is a bitcoin and how does it work? This is one of the hardest questions to answer in layman's terms. Bitcoin is difficult for anyone to approach. What is the purpose of bitcoin? 2 from where did the money for the first transaction come. The mathematical field of cryptography is the basis for bitcoin's security. In reality there is a whole industry, fields of research, and grassroots movements growing. Since your secret key is known to a third party, nothing will prevent the owners. In any currency, you need to be able to keep track of transactions; Someone transferred a billion dollars in bitcoin for less than $5. It is an idea analogous to traditional mining, but the process uses computing power.
