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Strategies & Market Trends
Bitcoin
An SI Board Since April 2013
Posts SubjectMarks Bans Symbol
939 109 0 BTC
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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939I traded in RIOT briefly a few months ago, but found it too volatile for my tastJ.F. Sebastian-August 2
938You may like to know about this thread: Riot Blockchain, Inc. (RIOT) | Stock DiJ.F. Sebastian-August 2
937I have been trading RIOT but recently decided to keep buying in the high 20’s anhandyman-August 1
936Bitcoin mining machines steamrolled by Malaysia police Pretty STUPID... but funDoren1July 20
935Straight Talk: Sven Henrich of NorthmanTrader with special guest Michael Saylor Elsewhere-July 4
934<i>Thank you for the very thorough explanation.</i> You're welcElsewhere1July 4
933Any predictions on what the price of Bitcoin will be by the end of 2021? :-) ThStock Puppy2July 3
932Thank you for the very thorough explanation. Didn't know much of that becausJ.F. Sebastian-July 3
931As you mentioned, Soros is a short seller, but he also goes long...whether he caSavant-July 2
930Rehypothecation is not an option with Bitcoin. The paper games going on in the pElsewhere-July 2
929Soros has started to trade bitcoin. He is a notorious short seller, Will Soros bteevee-July 2
928How secure it is to store Bitcoin on an exchange [tweet]Elsewhere3July 1
927Time for a 101: the Bitcoin private key Bitcoin is called a "crypto currenElsewhere1June 27
926Your cognitive dissonance is showing.J.F. Sebastian-June 27
925"Not your keys, not your Bitcoin." Message 33294102 Reading these worElsewhere-June 27
924Founders of South African Bitcoin exchange disappear after $3.6 billion 'hacDoren-June 23
923El Salvador May Become the First Country Adopt Bitcoin As Legal Tender Jun 5, 2Elsewhere1June 5
922agreed. my son is going to help me set up my own wallet on a memory stick. Then teevee1June 5
921<i>bought 2800 EBIT.U etf</i> I hope it works out for you. Be prepaElsewhere-June 5
920had first sip of bitcoin kool-aide and bought 2800 EBIT.U etf which represents ateevee-June 4
919Explaining NFTs [tweet]Elsewhere6June 2
918> Are you living under a rock? Think about this... the value of all the bitDoren-June 2
917<i>Can you do technical analysis on a wittle puddy kiddy cat?</i> HElsewhere-May 30
916<i>That’s because China potentially could mount what’s known as a majorityElsewhere-May 30
915Buying a pink NFT cat was a crypto nightmare Can you do technical analysis on aDoren-May 30
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