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Bitcoin
An SI Board Since April 2013
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Emcee:  Jorj X Mckie Type:  Moderated
From Wikipedia: en.wikipedia.org

Bitcoin (sign: BTC) is a decentralized [6] digital currency [7] [8] based on an open-source, [9] peer-to-peer Internet protocol. It was introduced in 2009 by a pseudonymous developer (or developers) Satoshi Nakamoto. [10] Since 2011 Bitcoin has been criticized as not being a functional currencydue to its experimental nature, volatile markets, [11] and allegedly limited use in trade. [12] [13]

Bitcoins can be transferred through a computer or smartphone locally or internationally without an intermediate financial institution. [14] Each bitcoin is subdivided into 100 million smaller units called satoshis, defined by eight decimal places. [4]

Bitcoin has no central organization and is not managed by any government or central authority. Instead, it relies on an Internet-based peer-to-peernetwork. The creation of new bitcoins is automated and given to servers or "bitcoin miners" that confirm bitcoin transactions as they add them to a decentralized and archived transaction log approximately every 10 minutes.

The transaction log is authenticated by end-users through hashed ECDSA digital signatures (similar to a username and password) and added to through calculations of varying difficulty, performed by dedicated servers called bitcoin miners. Each 10-minute portion or "block" of the transaction log has an assigned amount of bitcoins that is awarded to miners (who can then sell them at their discretion) once it is added to the log and confirmed by other miners. The amount of bitcoins per addition depends on how long the network has been running and how much in transaction fees has been paid. Currently, 25 new bitcoins are generated with every 10-minute block. This will be halved to 12.5 BTC during the year 2017 and halved continuously every 4 years after until a hard limit of 21 million bitcoins is reached during the year 2140. [1] [10]

Bitcoin is the most widely used alternative currency [3] [15] and accepted by various merchants and services internationally.
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282reuters.comThe Ox-October 3
281 Bitcoin Bug Bites Japan and South Korea as China Clamps Down By NATHANIEL POGlenn Petersen2October 3
280Whether cryptos will succeed or fail....don't know, however, having been forSavant1September 29
279Chaos and hackers stalk investors on cryptocurrency exchanges reuters.com [youGoose94-September 29
278Bitcoin: Lynette Zang starts 10:00 [youtube video]Goose941September 27
277London gold dealer Sharps Pixley to accept payment in Bitcoin reuters.comGoose94-September 27
276This has been posted elsewhere. Why would you expect poor uneducated North KoreElroy-September 23
275North Korean hackers are working on bitcoin heists: mcclatchydc.comRon-September 23
274Canadian Regulatory ‘Sandbox’ Seeks to Avoid Crypto Coin Quicksand bloomberg.comGoose94-September 22
273Is Google Coming For Your Cryptos zerohedge.comGoose941September 17
272[youtube video]roguedolphin-September 17
271One-World Crypto (not Gold-Backed Yuan) in Light of the 1988 Economist Magazine Goose942September 14
270McAfee defends bitcoin: seekingalpha.comRon-September 14
269Concerted selling in cryptos now. China's actions having an impact.Savant-September 14
268Oh I agree. I'm neutral on digital currency. Just posted that because I thouRon-September 14
267 Ole JD should know about fraud...corrupt bankers w/phony CDOs cost people BilliSavant-September 14
266I think I agree that Bitcoin will end badly, but that doesn't mean it will bElroy-September 13
265tired of hearing about tulips...such a buzz word....and it's like comparing Savant1September 12
264Jamie Dimon slams bitcoin, compares it to tulip bubble that will end badly markeRon-September 12
263whats really amazing is watching them transfer from the smarter hands to the dumProud Deplorable-September 6
262<i>Virtually Every Cryptocurrency in the World Is Tanking Right Now</i&Elroy1September 5
261I like silver as well because it is not foreign exchange dependent as a rule. I&Proud Deplorable-September 5
260 Update....20+ cryptos have been rallying since the panic low...some v.nice percSavant-September 5
259Wasn't he the "economist" that was behind this failed idea? [graphProud Deplorable-September 5
258China bans companies from raising money through ICOs, asks local regulators to iGlenn Petersen1September 4
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