What is Bitcoin mining?

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What is Bitcoin mining?
You can't have Bitcoin without mining. Confused? Here's how it all works.
Bitcoin mining is far removed from the average Bitcoin owner these days, but that doesn't change how important it is. It's the process that helps the cryptocurrency function as intended and what continues to introduce new Bitcoins to digital wallets all over the world.
Collecting cryptocurrency can be boiled down to a simple premise: "Miners," as they are known, purchase powerful computing chips designed for the process and use them to run specifically crafted software day and night. That software forces the system to complete complicated calculations -- imagine them digging through layers of digital rock. If all goes to plan, the miners are rewarded with some Bitcoin at the end of their toils.
Why do we need mining?
Bitcoin works differently from traditional currencies. Where dollars and pounds are handled by banks and financial institutions which collectively confirm when transactions occur, Bitcoin operates on the basis of a public ledger system. In order for transactions to be confirmed -- to avoid the same Bitcoin from being spent twice, for example -- a number of Bitcoin nodes, operated by miners around the world, need to give it their seal of approval.
For that, they are rewarded the transaction fees paid by those conducting them and while there are still new Bitcoins to be made -- there are currently more than 16.8 million of a maximum 21 million -- a separate reward too, in order to incentivize the practice. In taking part in mining, miners create new Bitcoins to add to the general circulation, whilst facilitating the very transactions that make Bitcoin a functional cryptocurrency.
Mining is a risky process though. It not only takes heavy lifting from the mining chips themselves, but boatloads of electricity, powerful cooling, and a strong network connection. The reward at the end isn't even guaranteed either, so it should never be entered into lightly.
How it works.
The reason it's called mining isn't that it involves a physical act of digging. Bitcoin are entirely digital tokens that don't require explosive excavation or panning streams, but they do have their own form of prospecting and recovery, which is where the "mining" nomenclature comes from.
Prospective miners download and run bespoke mining software -- of which there are several popular options -- and often join a pool of other miners doing the same thing. Together or alone though, the software compiles recent Bitcoin transactions into blocks and proves their validity by calculating a "proof of work," that covers all of the data in those blocks. That involves the mining hardware taking a huge number of guesses at a particular integer over and over until they find the correct one.
It's a computationally intense process that is further hampered by deliberate increases in difficulty as more and more miners attempt to create the next block in the chain. That's why people join pools and why only the most powerful of application specific integrated circuit (ASIC) mining hardware is effective at mining Bitcoins today.
The individual miner or pool who are the first to create the proof of work for a block are rewarded with transaction fees for those confirmed transactions and a subsidy of Bitcoin. That subsidy is made up of brand new Bitcoin which are generated through the process of mining. That will continue to happen until all 21 million have been mined.
There is no guarantee that any one miner or mining pool will generate the correct integer needed to confirm a block and thereby earn the reward. That's precisely why miners join pools. Although their reward is far smaller should they mine the next block since it's shared among all members of the pool, the chances of earning such a reward are far greater as a collective and a return on any investment much more likely.
The future of mining.
Bitcoin was originally designed to allow anyone to take part in the mining process with a home computer and thereby enjoy the process of mining themselves, receiving a reward on occasion for their service. ASIC miners have made that impossible for anyone unable to invest thousands of dollars and utilize cheap and plentiful electricity. That's why cloud mining has become so popular.
Although hardware has pushed many miners out of the practice though, there are safeguards in place that prevent all remaining Bitcoins being mined in a short period of time.
The first of those is a (likely) ever-increasing difficulty in the mining calculations that must be made. Every 2,016 blocks -- at a rate of six blocks an hour, roughly every two weeks -- the mining difficulty is recalculated. Mostly it increases as more miners and mining hardware join the network, but if the overall mining power were to reduce, then the difficulty would decrease to maintain a roughly 10-minute block-generation time.
The purpose of that relatively hard 10-minute time is because that way the number of Bitcoins being generated by the process will be slow and steady and mostly controlled. That is compounded by the reduction in reward for blocks mined every 210,000 blocks. Each time that threshold is reached, the reward is halved. In late 2018 mining a block rewards 12.5 Bitcoins, which is worth around $80,000.
In the future as mining rewards decrease, the transaction rewarded to miners will make up a larger percentage of miner income. At the rate with which Bitcoin mining difficulty is increasing, mining hardware development is progressing, and rewards are decreasing, projections for the final Bitcoins being mined edge into the 22nd century.

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What is Bitcoin?
What is Bitcoin?
Bitcoin is a peer to peer digital currency. It means that there is no third party involvement (like banks) between a transaction. Owners are anonymous - therefore instead of using names, tax IDs or social security numbers Bitcoin connects buyers and sellers through encryption keys. Bitcoins are not issued like traditional currency. They are mined by powerful computers connected to internet.
With Bitcoins, one can buy merchandise. Make International payments as Bitcoins are not tied to any country. Small businesses may like them as there are no credit card fees. Some people just buy Bitcoins as an investment.
Value of Bitcoin?
Value of Bitcoin is what people will pay for it. Similar to how stocks work. The protocol dictates that there can be only 21 million Bitcoins that can ever be mined. Up to now about 12 million have been mined, so the supply is limited just like Gold, but no real intrinsic value.
What is mining?
Mining is to use computers to solve complex math puzzles to encrypt data and add blocks to the blockchain. These blocks are filled with transactions which are validated by the miners. This is a continuous network of adding blocks to the blockchain. Miners use the Sha 256 algorithm to mine Bitcoin. One can get into mining by buying hash power from companies like Genesis and Hashflare who have 1000s of ASIC computers in their mining farm.
Founder of Bitcoin.
Satoshi Nakamoto, an anonymous figure, is the founder of Bitcoin. Bitcoin evolved out from the cypherpunk movement of the 90's with the objective of using technology and cryptography to maximize human liberty and privacy. In 2008, after the financial meltdown and collapse of the Housing buble Bitcoin came into existence.

What Is Bitcoin and Why It Still Matters in 2019.
Although it's been more than a decade since its birth, few understand what Bitcoin is .
So, here's Bitcoin explained :
Bitcoin is a decentralized digital currency, which uses peer-to-peer technology to manage and create bitcoin transactions.
The sentence above doesn't mean much if you don't already have any knowledge of Bitcoin and blockchain technology .
To break down the bitcoin definition in a more simplified manner, this article is what happened.
Moreover, we'll find out what cryptocurrency is.
Let's start with a quick history lesson.
Bitcoin Timeline - a Decade of Cryptocurrency.
Although Bitcoin is relatively young, many events marked its evolution in the past decade. Before we can speculate about bitcoin 's future , let's discover its history.
October 31, 2008 Bitcoin Whitepaper relеase. January 3, 2009 Bitcoin Genesis Block Mined (also known as Block 0) January 12, 2009 The first Bitcoin transaction. May 22, 2010 Laszlo Hanyecz paid 10,000 BTC for two pizzas. July 2010 Mt. Gox launch. At its peak the exchange controlled 70% of all BTC transactions. November 6, 2010 Bitcoin market cap exceeds $1 million. October 2011 The first Bitcoin fork - Litecoin was created. June 2012 Coinbase launch. Fiat-to-crypto currency exchange. November 2012 The first Bitcoin halving event. The reward of 50 BTC is halved to 25 BTC. February 7, 2014 The Mt. Gox hack. 850,000 bitcoins are lost or stolen. December 11, 2014 Microsoft adopts bitcoin payments. June 2015 BitLicense is established. August 1, 2017 Bitcoin Cash was born. December 2017 Bitcoin futures launch. December 2017 Bitcoin price reached $19,498. September 2018 Cryptocurrencies' prices drop with an average of 80%. November 15, 2018 Bitcoin market cap falls below $100 billion. October 31, 2018 Bitcoin 10-year anniversary.
Now that we know the background of Bitcoin, we can delve deeper to see how it works.
What Is Bitcoin - Its Inner Workings Explained.
Okay, so what is bitcoin in its essence, and do we need cryptocurrencies?
Imagine a friend of yours gives a dollar. That's the whole transaction. There isn't any sort of intermediary during this transaction - just the physical action.
The same is with bitcoins. You can transfer bitcoins to anyone, anywhere, anytime. Regardless of any financial restrictions your country may pose, or bank transfers' delays and fees. That is, except for the nations, which ban Bitcoin altogether.
That's it - simple and secure. And only you and the recipient are accountable for this transaction - there is no third-party.
In a country like Iran, you have regulations about cross-border transfers.
Bitcoin solves this problem.
Or what about the people without bank accounts? There were more than 1.7 billion unbanked people worldwide in 2017.
What could they use for payments, instead of cash?
Bitcoin solves this problem, too.
So you see, Bitcoin has its benefits.
But how does it work?
To answer that we need to understand some technological terms, first.
How Does Blockchain Work?
In simple words, - a blockchain is a list of records. These records are called blocks, and as the name suggests - they are linked together in a chain. Each block contains information about a transaction, its hash 1 Hash is like a vehicle registration plate for blocks. , and the hash of the previous block.
The latter is exceptionally important in terms of security.
See, if someone wants to tamper with a block, they'll have to recalculate the proof of work for all the following blocks.
Each block connects to its following "cousin" via cryptography.
What Is Cryptography?
Cryptography is the method of protecting data via codes.
It enables sharing sensitive information in a hidden (crypto) way that no one but the intended recipient can read it.
Here's an example:
If we use cryptography to encrypt this sentence: " What is Bitcoin ? ", this is what we'll get:
This message is readable only by the intended recipient.
The same is with a bitcoin transaction . If I send you a bitcoin, this transfer will be stored in a block. You and only you will be able to receive it.
Then everyone who uses the Bitcoin network will validate our transaction.
The Brilliance of the Blockchain Idea.
What is so great about blockchain technology is that it uses trusted timestamping 2 Trusted timestamping keeps track of the creation and modification time of the data. No one, including the data's owner, can't modify it, once it's recorded. , which makes it remarkably secure.
Furthermore, everyone who uses the same blockchain technology is accountable for its existence and evolvement. In simple words - there is no single entity in control of the data in the blockchain.
Every single user in a given blockchain system has a real-time copy of the blockchain network.
As of April 2019, the Bitcoin blockchain was over 210 GB of data , and it's stored on every user's device.
Bitcoin made use of the blockchain technology precisely the way it was meant to be used. It's decentralized, and each transaction is validated by all the users involved.
But it gets better:
The Bitcoin blockchain reduces possible errors to a minimum. You can't double-spend your Bit Coins, and no one can intercept your Bit Coin transaction. Even better, these transactions aren't recorded solely on the Bitcoin secured register. Users validate, therefore register these transactions on every device, connected to the Bitcoin blockchain network.
As a consequence, the blockchain is practically unhackable! To hack the blockchain, a cybercriminal has to have control over 51% of all users . This hypothetical situation is almost impossible to happen, considering the vast network of bitcoin miners and nodes.
Bitcoin Mining.
In essence, a bitcoin miner is a computer. To be more precise - a high-powered computer, that solves mathematical problems. When a miner solves one of these complex math problems, they create a new bitcoin. Then nodes verify the bitcoin transactions, thus making the blockchain secure.
Each bitcoin miner connects to the blockchain via bitcoin mining software . Once they complete a block and add it to the blockchain, the miner receives a "block reward." These rewards are bitcoins - as of 2019, this reward equals 12.5 bitcoins per block. It halves every 210,000 blocks . Back in 2009, a year after Satoshi Nakamoto came up with the concept of Bitcoin, the reward was 50 bitcoins per block. In 2020 it will be 6.25 BTC .
Once the miner receives its reward, its owner's Bitcoin wallet receives the rewarded bitcoins.
What is a Bitcoin Wallet?
The cryptocurrency wallet is, in fact, an app. It acts as a cryptocurrency gateway - you require a cryptocurrency wallet to transfer, receive, or buy bitcoins .
Bitcoins aren't actually in your digital wallet. They are in the blockchain. What your wallet stores are the locations (addresses) of your bitcoins in the blockchain.
See, bitcoins don't move like paper money. They only change their owner. Once you send, say, one BTC to a friend, what you do is that you reassign the ownership of its address, in favor of your friend.
The owner of a Bitcoin wallet uses two keys to make transactions:
This is the address of the recipient of the payment. If you want to buy coffee with cryptocurrency, you scan the coffee shop's QR code - this is their public key. The public key is available to anyone.
This is the key to your bitcoins' addresses. When you bought that coffee, you used your private key to unlock your bitcoin safe and release the required amount for the transaction. Your private key is the only thing that could reach your bitcoins. They aren't tied to your account in any other way. So if you lose your private key, or it's stolen, there's nothing you can do about it (your Visa card is more convenient from that point of view).
So you need both keys to make a transaction.
What Is a Bitcoin Transaction?
In simple words, a bitcoin transaction is the change of bitcoins' ownership.
No matter if you just transfer to someone, or if you're into bitcoin trading . Each operation is stored in a block, and it takes about 10 minutes for a block of transactions to become part of the blockchain (thus verifying each transaction).
In other words - once you send BTC to someone, the nodes in the blockchain have to verify your transaction first.
What is essential to a bitcoin transaction is that the block which verifies it keeps a log of the sender, the receiver, and the amount of BTC .
This means that people can trace every bitcoin's ownership exchange back to its creation.
Now, let's delve a little deeper into the fundamentals of Bitcoin.
Bitcoin's Key Components.
There are many essential features which differentiate Bitcoin from fiat currencies. For one - it's not printed in a central bank somewhere.
Decentralization.
"Government of the people, by the people, for the people." - Abraham Lincoln.
Nowadays, we have centralized political and economic systems.
The government regulates the economy, determines taxes, and so on.
You know where the government is. You know who works there. You vote for a government.
The same goes for the banking sector. The bank stores your money, and you rely on it for every transaction.
See, only you and the bank know what happens with your finances. You can't check a friend's balance, for instance, only the bank can.
So there's the difference between a centralized and a decentralized system.
Decentralization removes the middle man and leaves the participants in charge.
In the Bitcoin blockchain , all miners are connected to the blockchain. They can all view the same data. Once a miner creates a new block, everyone in the network is aware of it.
That's the beauty of the blockchain technology - all users are responsible for the network.
So, if you want to send money to Bob, you send it, and that's that. This transaction is between you and Bob, but everyone else in the blockchain must agree about it (verification). No one can tell you - "Hey, you can't send money to Bob because he lives in Venezuela, and we don't get along with them."
What's great about blockchain is that everyone can join this network. If they have a powerful enough computer, that is. And if they can afford to pay for higher electricity consumption. The blockchain is available to anyone who wishes to join it. There are no limitations .
Not only that, but it's more secure than centralized structures, simply because no one can mess with it.
Blockchain Immutability.
Imagine the blockchain as a history book. If an event occurs, something led to that event. Everything happens for a reason, right? So here's an example:
Napoleon became emperor in 1804.
By 1811 he controlled almost every country in continental Europe.
In 1812 Napoleon commanded the biggest army the world had ever seen before WWI.
The same year the Grand Armeè 3 Napoleon's Big Army in French. invaded Russia.
Although the French were victorious at the first big battle near Borodino , they paid a high price for this victory. The remaining army suffered a significant lack of supplies, diseases, and the famous Russian winter. These events forced Napoleon to retreat to Poland.
Since the Russian campaign severely weakened Napoleon's army, it could no longer control all occupied territories. Eventually, his empire collapsed.
In history, one thing leads to another. Blockchain is the same. A block follows each block. Until the invention of the time machine, no one can tamper with the past. The same goes for the blockchain. If someone interferes with a block, they would have to alter every following one. Also known as the butterfly effect .
What is more, to break the immutability, one has to convince 51% of the network to alter a block. Imagine how hard this is since, at the time of writing, there are at least 9735 nodes in the Bitcoin blockchain network. And their number continues to grow, despite that mining will cease once all bitcoins have been mined.
Limited Supply of Bitcoins.
With fiat currencies, central banks can just print as much money as they need. Bitcoin doesn't have this option. Once the mined bitcoins reach the limit of 21 million , that will be it.
This makes Bitcoin an even more valuable asset, because once a miner digs the last coin - you'll only be able to buy them.
As of the time of writing, there are 17,779,325 e xisting bitcoins . Which means there are about 15.4% bitcoins left to mine . If miners continue to keep this pace up - in less than five years, the last bitcoin will be mined.
However, miners will still earn money even when they stop mining.
Today miners acquire most of their bitcoins thanks to the block reward. Additionally, they earn a small fee by each bitcoin transaction . In the future, bitcoin trading and operations will pay the miners.
*Interesting fact - Bitcoin's creator, Satoshi Nakamoto, owns one million bitcoins , which were mined at the beginning of the mining process. Although no one knows who he is, this is an impressive amount, considering the current bitcoin value - $11,318 . So the creator has the key (literally) to over $11.3 billion as of this date.

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Bitcoin Transaction Security.
There are several vital elements which secure bitcoin operations.
Bitcoin transactions are irreversible.
Once a transaction is verified, you won't find an "undo" button. And there's no authority to call if you've made a mistake. However, if you know and trust the person who received the payment, they can refund you.
Bitcoin won't allow you to send money to an invalid address.
The blockchain technology doesn't tolerate invalid addresses, so you can't send money to a non-existing recipient by mistake.
Users have full control over their payments.
Unlike with traditional payments, Bitcoin doesn't allow merchants to charge you with hidden fees.
Bitcoin payments can be anonymous.
You don't need to add personal information to the transaction. This acts as a protection against identity theft .
However, despite Bitcoin's benefits, the system isn't flawless.
Crucial Drawbacks for Bitcoin Adoption.
Ever since Bitcoin entered the currency stage, it had some predefined defects.
Slow Transaction Times.
As mentioned before, the blockchain takes about 10 minutes to add a new block. Hence, you have to wait for at least 10 minutes for your transaction to be verified. Once verified, it becomes irreversible. Every 10 minutes you technically receive another verification of this transfer.
You require several verifications to complete a transaction. For instance - one confirmation is enough to send a small payment (usually under $1,000). You'll need at least three verifications to transfer amounts up to $10,000. Most exchange companies will also require at least three confirmations to accept a deposit.
Six is the magic number, which makes a transaction to be viewed as secure. That way, you can send up to $1 million.
If you want to transfer a more substantial amount than $1 million you'll need about 60 verifications . Which equals to around 10 hours.
Thing is, Bitcoin can validate only seven transactions per second . And there's an average of 12.23 transactions per second being generated (at the time of writing). Safe to say it may take some time.
Fair warning, the system is sluggish. (As you might suspect.)
In May 2019, the average time for a confirmation of a Bitcoin transaction was 12.31 minutes . And while you wait for your transaction's validation, your machines eat up quite a bit of your earnings.
Bitcoin Mining Power Consumption.
Miners eat power faster than a ghetto monkey eats a banana .
As of today, bitcoin mining consumes up to 66 TWh per year , almost the electricity consumption of the Czech Republic.
In terms of power bills, for every $6 you earn from mining bitcoins you have to pay an average of $3.3 .
But it gets worse:
There are two factors to take into consideration:
First - the hashrate difficulty grows. Second - the block reward is smaller.
Unless electricity becomes cheaper, or a new method allows miners to use less power, we'll be using more electricity for smaller gains.
The only benefit of using so much power is if you live in Siberia and you use the mining rigs for heaters.
However, the decentralized cryptocurrency can't keep us warm forever.
The Irony of Decentralization.
The Bitcoin network is decentralized, sure. Exchange companies, however, aren't. And that's where many of the bitcoins are. So it turns out we have a decentralized system of resources, yet we keep them in a centralized way.
This has led to some shocking situations:
QuadrigaCX's founder passed away, locking up $190 million worth of cryptocurrencies on his laptop.
Furthermore, Mt. Gox, another exchange company, lost over 850,000 bitcoins after a cyber attack. (if you are curious about cyber attacks in general check out our blog posts )
But do these issues affect Bitcoin 's future and adoption rates?
Bitcoin Future and Adoption.
More and more people adopt cryptocurrencies with each passing day. The same goes for vendors. Actually, there are hundreds of thousands of venues, which accept cryptocurrency payments. You can find all the vendors on this map .
Now, although Bitcoin isn't perfect, its system is still evolving and improving.
One of the biggest problems we cited in the previous paragraph was the bitcoin blockchain scalability - i.e. the time required for a transaction to be verified.
See, Bitcoin uses a ridiculously slow algorithm to "sign" every part of a transaction.
A guy by the name of Claus-Peter Schnorr created a better way. The Schnorr signatures are significantly faster, which open up the future of Bitcoin.
In fact, Bitcoin Cash (BCH) developers implemented his idea in May, 2019.
The other issue Bitcoin faces is it's not really fit for everyday spending. That's why the Winklevoss twins joined forces with Flexa to make cryptocurrency easier to spend. They created the SPEDN app , (no, not a typo) thanks to which you can easily purchase items or services with cryptocurrency.
This app and other innovations shape a trend of a more comfortable use of Bitcoin for the mass user.
Everyone involved In this technology aims to make it easier and faster to use cryptocurrencies, without neglecting the security of the blockchain technology .
Conclusion.
By now, you now know what Bit Coin is , how it works, and why it matters.
See, Bitcoin (and cryptocurrencies as a whole) are a game-changer in our society. They could have a substantial impact on our centralized banking system and change the way we think about money. Fiat currencies may not become obsolete, but their power diminishes, thanks to cryptocurrencies.
And Bitcoin, in particular, doesn't intend to step down from the #1 spot in the cryptocurrency world.
Bitcoin 's future seems bright, and it leads many other cryptocurrencies along to a new era.
What is a bitcoin, and how does it work?
Bitcoin is a cryptocurrency, also described as a virtual or digital one. It's a form of online cash, and you can use it to purchase services and products or trade it for other types of currency.
In its essence, a bitcoin is a file, which can be accessed by a private key. The change of the ownership of that file is essentially the transaction. Each transaction is recorded in a public ledger, also known as a blockchain.
Can Bitcoin be converted to cash?
Yes, it can. There are many ways to transform your bitcoins into cash. Here are the most common methods:
One of the most popular financial services for this type of operation is Coinbase . If you decide to choose it, there is a 1% to 3.75% fee, depending on whether you want the money in your bank account or PayPal.
You can use any of the numerous cryptocurrency trading platforms to convert your bitcoins to any other type of currency. Binance and OKEx are such platforms.
However, you should keep in mind that experts predict bitcoin stock price to reach new heights by the end of 2019. So you probably should spend some time learning how to trade bitcoin , instead of withdrawing it.
You can sell your bitcoins directly to a buyer, in person, or online. You can meet them in Bitcoin communities like forums and so on. Or you can use websites like LocalBitcoins to find potential buyers.
How do you earn bitcoins?
The most obvious answer is to mine them.
However, If you don't have the necessary hardware, there are other ways to earn bitcoins:
You can buy bitcoins. You can earn them as a payment for any number of online jobs.
These are the most common practices for people who wonder how to get bitcoins .
There's also gambling and trading, but the risk is too high. If you want to play it safe, use one of the methods above.
Why does Bitcoin have any value?
The short and creepy answer - because people believe it does.
It has no inherent value, but so long as people are willing to accept it as a form of payment - it has subjective value. The latter is what counts in the real world.
We've reached the million-dollar question.
The main reason why bitcoins have value is the same reason why paper money has value.
And the answer is simple.
People need currencies to perform their day-to-day transactions.
Our society is way past the point of history where people traded chickens for rice and vice versa.
The more people adopt Bitcoin as a tool for payments, the more valuable it will become.
The second reason for which bitcoins have value is it's like gold in a way - both have limited supply.
When was Bitcoin created?
Bitcoin's official birthday is October 31, 2008.
Who created Bitcoin?
A developer or a group of them, using the alias of Satoshi Nakamoto, published a whitepaper on Bitcoin in 2008. The idea was to create a decentralized, independent payment system, based on mathematical proof.
Satoshi Nakamoto 's identity still remains a mystery to this date.
What is a Bitcoin wallet?
A Bitcoin wallet stores the addresses of your bitcoins on the blockchain. To make a bitcoin transaction, you need to have a crypto wallet first.
How to buy bitcoin?
You can buy bitcoins, using one of the following:
Buy from a Bitcoin exchange company. Use a Peer-to-Peer website to find sellers. You can use a Bitcoin ATM to purchase bitcoins. (Here are the locations of these ATMs)
Is bitcoin mining profitable in 2019?
Generally speaking - yes.
If Bitcoin's price is above $4,350 (it's almost triple that in June 2019) that would mean the mining operation is profitable in 2019 .
Now that you know what Bitcoin is and how it works, you also found out how it can work for you . You can discover if mining it is worth your time , money, and energy by using this calculator .

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We are constantly working on enhancing the security, ensuring the high level of customer support, and providing our users with new opportunities for trading on the Bitcoin market. CEX.IO is regularly considering the addition of new coins, which was not so long the case with Dash, Zcash, and Bitcoin Cash. Still, every cryptocurrency has to pass a thorough check to be listed. Our due diligence and concerns about the quality of the service yield results. Now, we are moving forward to achieve the status of the best cryptocurrency exchange.
Best Cryptocurrency Exchange: What does It Mean for Us?
For you to be able to recognize a reliable online exchange and sort out those that appear to be too weak, we list several features, paying attention to which would help you to make the right choice.

Bitcoin.
Bitcoin is a digital currency that can be transferred and used to make payments anonymously without fees. We'll bring you the latest Bitcoin price, charts and news here. The virtual currency transactions are recorded by a ledger known as the blockchain which is run by so-called 'miners'. Bitcoin has been around for eight years. Secretive internet user, Satoshi Nakamoto, invented bitcoin but his true identity has never been revealed. Find out all the latest news about the bitcoin fork, the creation of bitcoin cash, bitcoin price history and the exchange rate below.

What is bitcoin.
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Bitcoin, la moneda que está cambiando el mundo.
Bitcoin es una moneda, como el euro o el dólar estadounidense, que sirve para intercambiar bienes y servicios. Sin embargo, a diferencia de otras monedas, Bitcoin es una divisa electrónica que presenta novedosas características y destaca por su eficiencia, seguridad y facilidad de intercambio.
Su mayor diferencia frente al resto de monedas, se trata de una moneda descentralizada, por lo que nadie la controla. Bitcoin no tiene un emisor central como los dólares o los euros, la criptomoneda es producida por las personas y empresas de alrededor del mundo dedicando gran cantidad de recursos a la minería.
Si ya sabes qué es bitcoin y lo que tú buscas es directamente comprar bitcoins , aquí tienes una entrada de la web que lo explica. Vamos allá con la guía.
En esta guía aprenderás.
A elegir entre los diferentes tipos de wallets de Bitcoin que existen, a poder explicar cómo funciona Bitcoin , sus distintos típos de direcciones, además de tener a vuestra disposición una página de preguntas frecuentes y un blog de Bitcoin donde de forma periódica, se van comentando los últimos acontecimientos de la moneda virtual más famosa.
Beneficios y ventajas de Bitcoin.
En la actual > y hay buenas razones por las cuales se está haciendo cada vez más popular. Tanto usuarios particulares como vendedores y propietarios de negocios encuentran en Bitcoin importantes ventajas que les han llevado a adoptar este sistema.
Veamos algunas características de introducción a Bitcoin:
No pertenece a ningún Estado o país y puede usarse en todo el mundo por igual. Puedes comprar bitcoins con euros u otras divisas y viceversa, como cualquier moneda. No hay intermediarios: Las transacciones se hacen directamente de persona a persona. Es descentralizada : no es controlada por ningún Estado, banco, institución financiera o empresa. Es imposible su falsificación o duplicación gracias a un sofisticado sistema criptográfico. Las transacciones son irreversibles. No es necesario revelar tu >Te mostraré como en cierto modo, Bitcoin se asemeja al dinero en efectivo que todos conocemos. Además de presentar muchas de las características de este conocido medio físico, al utilizarlo siempre mantenemos el control de nuestros fondos. Adicionalmente, también disponemos de muchas de las ventajas que el medio digital nos ofrece: es inmediato , puede mandarse a cualquier parte del mundo, etc.
Las monedas virtuales abaratan los costes al eliminar los intermediarios por completo.
A día de hoy es aún muy común que el envío de dinero a cualquier parte del mundo conlleve importantes tasas o comisiones debido a la gran cantidad de intermediarios que hay en el proceso. Ello incluye: Comisiones por transferencia bancaria, comisiones por aceptar o usar tarjetas de crédito o débito, comisiones por usar servicios de «envío de dinero» o comisiones por usar servicios de «pago online».
En Bitcoin no hay intermediarios y el dinero pasa directamente de persona a persona: de comprador a vendedor o de particular a particular. Esto reduce el precio de enviar dinero sustancialmente y permite también vender productos y servicios a un precio más justo.
Bitcoin ofrece segur > Históricamente todos los medios de pago u objetos con valor han tenido problemas de seguridad. Los problemas informáticos han causado el robo de miles de números de tarjetas de crédito, dejando desprotegidos a compradores que han podido sufrir importantes pérdidas. Cuando realizamos compras con Bitcoin no tenemos que revelar información sensible como por ejemplo números de tarjeta de crédito o cuentas bancarias y por lo tanto no existe riesgo alguno de que esta información le sea sustraída al vendedor online.
Bitcoin también es preferible a otros sistemas de cobro online, sobretodo para el vendedor. En Bitcoin las comisiones por transacciones son muy bajas y no existe riesgo alguno de que compradores fraudulentos y estafadores que reviertan el pago, quedándose tanto con el producto como con el dinero.
Finalmente, las características de esta moneda virtual permiten a las páginas establecer un servicio de fideicomiso (escrow), asegurando que el vendedor sólo reciba el dinero si el producto ha llegado satisfactoriamente a su destino. Esto es usado frecuentemente en páginas de subastas y venta de productos de segunda mano.
Las monedas virtuales son un mercado que nunca para.
La cotización de los Bitcoins es algo que nunca se detiene, muestra de ello es que su mercado se negocia 24 horas al día, 365 días al año. Al tener esta característica, hay muchísima comunidad detrás, como por ejemplo este Foro de criptomonedas donde hay la mayor comunidad española de Traders, tanto de Bitcoin como de otras criptomonedas.
Bitcoin es justo.
En muchos sistemas tradicionales nos encontramos que enviar dinero es mucho más fácil que recibirlo. Esto dificulta la creación de nuevos negocios y tiendas online. Sin embargo, con Bitcoin, ambas opciones son igual de sencillas y cualquiera puede enviar y recibir dinero sin ningún tipo de restricción. Además, si eres dueño de un negocio, tanto digital como físico, no cuesta nada empezar a aceptar bitcoins.
Tus bitcoins son sólo tuyos.
El sistema descentralizado que hay detrás de los bitcoins hace imposible que cualquier otra persona que no disponga de tus credenciales pueda acceder a tu dinero. Tus bitcoins son tuyos y no pueden ser congelados o secuestrados, no se puede cerrar ninguna cuenta y sólo tú tienes acceso. Este aspecto es para muchas personas quizá el más importante: sentirse realmente dueños de su dinero y poder estar seguros de ello.