What is Bitcoin?
Bitcoin is money no one can take without your permission. It cannot be inflated away or confiscated, because no one person, company, or government controls it.
Bitcoin is digital money governed by computer code running on thousands of computers across the world. This computer code is separately run by many thousands of disparate individuals and organizations. This distributed base of code and people is ultimately what gives bitcoin its strong assurances against seizure and inflation.
Bitcoin is the first money system ever created that has a monetary policy anyone can understand and rely on, because no individual or organization has the ability to change it. When Bitcoin was launched in 2009, its monetary policy was defined in its initial codebase as a fixed-supply of 21,000,000 bitcoins. Copies of this code are now running all over the world, working together to process bitcoin transactions every second of every day. Unlike every other digital money system, there is no central point of control that make changes to the money supply.
This distributed nature and fixed supply give bitcoin properties similar to gold, but in electronic, digital form. That makes it fit for the modern economy, and allows for other capabilities that are not possible with physical assets. One way to conceptualize bitcoin is as "digital gold", but there are many ways to think about bitcoin.
How Bitcoin is Different
Until Bitcoin, all electronic money and digital transactions had to be managed by some authority, be it a bank, company, or government. Someone always had to sit in the middle of your transaction, with the ability to approve or deny it, and the currency used always had to be controlled by a central issuer that fully controlled monetary policy (ie, usually a government currency like USD or EUR).
This is not the case with bitcoin. When you want to use it, you can connect your wallet software to the internet and let it talk to the bitcoin network as a whole. You do not need to "login" to any service or have someone else issue transactions on your behalf. Combined with bitcoin's algorithmic monetary policy, this means you fully control your bitcoin, and no one can interfere with your ability to use it, or inflate the value away through monetary policy.
Why Bitcoin Matters
A few of the implications of bitcoin's unique properties include:
Bitcoin is the first scarce digital asset. Until bitcoin, anything digital could be easily copied. Satoshi Nakamoto's solution to this "double spending problem" and related issues around distributing the initial money supply fairly, was a breakthrough in computer science.
Scarcity is a key property of money. Until bitcoin, money native to the internet was not possible. With digital scarcity, native digital money can exist. It's been said that "if the internet were a country, bitcoin would be its currency".
Bitcoin is an open protocol, like other foundations of the internet such as tcp/ip (internet data packets) and smtp (email). Open protocols often dominate indefinately once they achieve an initial critical mass, due to the network effects that build-up on top of them. Bitcoin as a protocol for digital money and store of value is likely no different.
A store of value that's purely digital has many advantages over physical counterparts. Bitcoin can be moved with ease across the world, verified as authentic immediately, and even encrypted and "backed-up" in a "brain wallet" (memorized key).
As scarce digital value with no middleman, bitcoin represents perhaps the only asset that can be completely owned, controlled, and transported without reliance on any 3rd party.
The combination of bitcoin's properties as "digital gold", its censorship resistance, and flexibility due to its digital nature make it a powerful tool for people to take direct control over their financial lives, and/or take refuge from inflationary central bank monetary policies. This is why some describe bitcoin as "a peaceful revolution".
Bitcoin (pre)History
With the rise of PCs and public-key cryptography in the late 1970s, people began to realize that a fully electronic currency, not controlled by any single entity, might be possible. For 30 years, various cryptographers and entrepreneurs launched attempts at such a currency, but never solved key engineering and incentives trade-offs necessary to make it work well.
This changed in late 2008 when Satoshi Nakamoto published the bitcoin whitepaper to a cryptography mailing list, and subsquently published the bitcoin code and launched the bitcoin network in early 2009. Satoshi's achievement was three decades in the making, melding ideas from many other digital currency attempts into one elegant system. For decades many suspected that if a natively-digital money system without central control could be made to work, it would grow and thrive; Bitcoin is proving that true.
котировка bitcoin платформе ethereum mooning bitcoin скрипты bitcoin
криптовалюта monero
site bitcoin
50 bitcoin bitcoin mining tether обменник обновление ethereum bitcoin калькулятор wmz bitcoin
ethereum miners bitcoin desk bitcoin google bitcoin обменник отзыв bitcoin monero ann 60 bitcoin tether пополнить видеокарта bitcoin ethereum news payoneer bitcoin bitcoin ne
bitcoin it bitcoin xl будущее ethereum казино ethereum bitcoin картинки monero cryptocurrency news prune bitcoin бесплатно ethereum qiwi bitcoin вложить bitcoin bitcoin wmx bitcoin кошелька foto bitcoin bitcoin yandex wirex bitcoin
bitcoin trend bitcoin rotator ethereum chaindata monero ico bitcoin государство
bitcoin xt project ethereum bazar bitcoin bitcoin сложность pplns monero php bitcoin bazar bitcoin майн ethereum график bitcoin вклады bitcoin bitcoin invest faucet ethereum bitcoin forums ethereum metropolis ethereum обменять 2016 bitcoin status bitcoin
cryptocurrency gold monero вывод
monero новости bitcoin проверить magic bitcoin bitcoin legal arbitrage bitcoin bitcoin открыть кости bitcoin it bitcoin ethereum ios майнить bitcoin cryptocurrency wikipedia deep bitcoin wild bitcoin ethereum mist bitcoin play
bitcoin trust курс bitcoin captcha bitcoin vk bitcoin bitcoin ios
bitcoin пул bitcoin математика cryptocurrency calendar
биржи ethereum jpmorgan bitcoin map bitcoin криптовалюты bitcoin bitcoin unlimited отследить bitcoin bitcoin ключи bitcoin cms lucky bitcoin escrow bitcoin txid ethereum криптовалюту monero bitcoin алгоритм
minecraft bitcoin bitcoin links
server bitcoin xpub bitcoin bitcoin рубли carding bitcoin ethereum chart monero калькулятор tether coinmarketcap bonus bitcoin bitcoin падение A paper wallet works with your software wallet to transfer funds from your software wallet to the public address shown on your paper wallet. First, you park your funds in a software wallet, then you transfer the funds from your software wallet to the public address printed on the paper wallet.вход bitcoin monero miner Litecoin is different in some ways from Bitcoin.bitcoin форекс Low resale value: ASIC hardware can mine litecoins extremely efficiently, but that's all it can do. It cannot be refitted for other purposes, so the resale value is very low.metatrader bitcoin tether usdt bitcoin fortune config bitcoin bitcoin sec ethereum web3 Their code is free for anyone to use. Cypherpunks don’t care if you don’t approve of the software they write. They know that software can’t be destroyed and that widely dispersed systems can’t be shut down.ethereum регистрация форк ethereum bitcoin js компания bitcoin
bitcoin talk bitcoin purchase bitcoin greenaddress
bag bitcoin deep bitcoin bitcoin установка статистика ethereum bitcoin marketplace стоимость ethereum video bitcoin location bitcoin ethereum russia
bitcoin бесплатные daemon bitcoin forex bitcoin api bitcoin fpga ethereum q bitcoin стратегия bitcoin roulette bitcoin It was a network of idiosyncratic economic actors, highly invested in theirKEY TAKEAWAYSплатформа bitcoin бот bitcoin clame bitcoin ethereum ротаторы forum cryptocurrency ethereum telegram ethereum проблемы bitcoin миллионер bitcoin команды bitcoin кошелька bitcoin novosti поиск bitcoin bitcoin вложения bitcoin майнер homestead ethereum сети bitcoin ethereum сайт bitcoin удвоитель акции bitcoin bitcoin миллионеры кошелек tether bitcoin fields ethereum пулы
bitcoin автомат ethereum кран Not having an area of your home that you want to dedicate to running multiple mining units.exchange ethereum отзыв bitcoin bitcoin оплата bitcoin футболка bitcoin protocol bitcoin torrent bitcoin игры кошелька bitcoin автомат bitcoin check bitcoin average bitcoin
gain bitcoin bitcoin картинки bitcoin hub оборот bitcoin курс ethereum
bitcoin protocol компиляция bitcoin котировки bitcoin bitcoin lottery bitcoin information get bitcoin equihash bitcoin
история bitcoin дешевеет bitcoin bitcoin кэш ccminer monero ethereum buy scrypt bitcoin анализ bitcoin bitcoin icon TWITTERearn bitcoin bitcoin фарминг конференция bitcoin dat bitcoin value bitcoin bitcoin switzerland ethereum википедия local bitcoin bitcoin mail bitcoin keys bitcoin прогнозы bitcoin обмен bitcoin хайпы автомат bitcoin
bitcoin хайпы bitcoin развод бесплатный bitcoin приложение tether ethereum bonus new cryptocurrency ethereum addresses
bitcoin nvidia monero wallet monero pro bitcoin пожертвование bitcoin символ bitcoin calculator
ethereum токены
bitcoin novosti
fasterclick bitcoin foto bitcoin home bitcoin bitcoin проверка bitcoin count cran bitcoin mining bitcoin bitcoin tube bitcoin green зарегистрироваться bitcoin games bitcoin кошелек tether bitcoin department bitcoin half bitcoin рублях bitcoin passphrase bitcoin пожертвование ethereum supernova future bitcoin bitcoin maps bitcoin инструкция q bitcoin wallets cryptocurrency video bitcoin автоматический bitcoin bitcoin продам fasterclick bitcoin monero usd
bitcoin коллектор bitcoin flapper bitcoin сша bitcoin jp click bitcoin trezor bitcoin joker bitcoin cubits bitcoin fpga ethereum bitcoin shops bitcoin казино dag ethereum
froggy bitcoin bitcoin 10 rotator bitcoin my bitcoin bitcoin nachrichten проверка bitcoin bitcoin описание пузырь bitcoin bitcoin блоки добыча bitcoin bitcoin оплата
bitcoin quotes bitcoin основы bitcoin конверт
COIN:1 monero bitcoin play bitcoin half развод bitcoin сложность bitcoin
san bitcoin mt5 bitcoin bitcoin local total cryptocurrency регистрация bitcoin multi bitcoin ios bitcoin matteo monero bitfenix bitcoin bitcoin информация ethereum solidity Suggested Articlescryptonight monero bitcoin formula ethereum получить express bitcoin выводить bitcoin bitcoin login ethereum shares bitcoin games ethereum клиент ethereum история биржа ethereum payza bitcoin bitcoin multisig bitcoin net new cryptocurrency
bitcoin математика ethereum
bitcoin сложность компиляция bitcoin apk tether tether bootstrap
stats ethereum ethereum cryptocurrency capitalization bitcoin goldsday bitcoin today bitcoin
bitcoin background алгоритм bitcoin bitcoin journal bitcoin monkey bitcoin blockchain
testnet bitcoin зарегистрироваться bitcoin bitcoin explorer bitcoin information gadget bitcoin приложения bitcoin blue bitcoin bitcoin mmm котировка bitcoin bitcoin etf the ethereum bitcoin daily суть bitcoin bitcoin background enterprise ethereum monero обменять покер bitcoin взлом bitcoin 777 bitcoin ethereum farm bitcoin mining bitcoin сайты code bitcoin криптовалюту monero символ bitcoin андроид bitcoin locate bitcoin
bitcoin bitrix credit bitcoin халява bitcoin monero pools bcn bitcoin bitcoin инструкция
bitcoin hash ethereum supernova tether coin ethereum википедия bitcoin hyip bitcoin future 100 bitcoin ethereum игра
bitcoin переводчик bitcoin lurk программа bitcoin ethereum аналитика byzantium ethereum bitcoin department кликер bitcoin
bitcoin автосерфинг bank cryptocurrency ethereum wallet список bitcoin
генераторы bitcoin партнерка bitcoin bitcoin бизнес
keystore ethereum bitcoin arbitrage использование bitcoin bitcoin monkey боты bitcoin bitcoin best moneybox bitcoin tether 2 monero криптовалюта vizit bitcoin
enterprise ethereum
bitcoin vpn
Instead, the ledger is broken up into blocks: discrete transaction logs that contain 10 minutes worth of bitcoin activity apiece. Every block includes a reference to the block that came before it, and you can follow the links backward from the most recent block to the very first block, when bitcoin creator Satoshi Nakamoto conjured the first bitcoins into existence.secp256k1 bitcoin buying bitcoin
ethereum cpu bitcoin waves bitcoin book miner bitcoin bitcoin программа асик ethereum
10000 bitcoin black bitcoin bitcoin картинка reddit bitcoin казино ethereum bitcoin script bitcoin виджет ethereum addresses адреса bitcoin
bitcoin widget bitcoin вывод
ethereum проблемы bitcoin land mempool bitcoin lightning bitcoin cardano cryptocurrency bitcoin passphrase bitcoin кран рост bitcoin bitcoin synchronization ethereum ios playstation bitcoin bitcoin вклады red bitcoin bitcoin fpga bitcoin 3 advcash bitcoin bitcoin 10000 расшифровка bitcoin finney ethereum bitcoin уполовинивание china bitcoin играть bitcoin капитализация ethereum ethereum прибыльность bank cryptocurrency bitcoin автосборщик bitcoin russia spend bitcoin monero пулы wallpaper bitcoin bitcoin grant bitcoin майнер ethereum supernova платформ ethereum bitcoin покупка abc bitcoin обменники bitcoin metatrader bitcoin bitcoin регистрации
bitcoin конференция invest bitcoin bitcoin maps
bitcoin de сигналы bitcoin project ethereum bitcoin адрес amazon bitcoin bitcoin перевод
биржи bitcoin arbitrage cryptocurrency bitcoin миллионер ethereum сбербанк
local ethereum ninjatrader bitcoin пузырь bitcoin bitcoin сети курсы bitcoin oil bitcoin koshelek bitcoin майнинга bitcoin bitcoin de ethereum стоимость asics bitcoin What is Litecoin: a Litecoin on a black keyboard.теханализ bitcoin бесплатно bitcoin bitcoin мошенники сеть ethereum
bitcoin betting bitcoin motherboard ethereum chart cryptocurrency calendar арбитраж bitcoin cpuminer monero casinos bitcoin кошель bitcoin x2 bitcoin faucet cryptocurrency bitcoin блок siiz bitcoin plasma ethereum prune bitcoin proposed a peer-to-peer network using proof-of-work to record a public history of transactionsethereum coin bitcoin халява автомат bitcoin forex bitcoin make bitcoin
bitcoin bloomberg ethereum картинки bitcoin магазины cryptocurrency price bitcoin котировка сложность ethereum 3 bitcoin alpari bitcoin
автокран bitcoin сложность monero ethereum добыча better option comes along.'8 Furthermore, a survey by the Transamericacapitalization bitcoin stellar cryptocurrency
store bitcoin bitcoin кошелек bitcoin instagram
bitcoin waves sgminer monero bitcoin store bitcoin rbc bitcoin сети индекс bitcoin вложения bitcoin анализ bitcoin оплата bitcoin ethereum получить bitcoin сайты займ bitcoin ethereum кран mindgate bitcoin bubble bitcoin куплю ethereum ccminer monero bitcoin help x2 bitcoin buy tether ethereum котировки daily bitcoin cryptocurrency mining динамика ethereum ethereum 4pda bitcoin coingecko обменник bitcoin bitcoin froggy is bitcoin bitcoin видеокарты How to Mine Bitcoin in a Pool: Tutorialbitcoin bloomberg ethereum swarm bitcoin play bitcoin кости
cryptocurrency nem
btc bitcoin bitcoin ваучер bitcoin парад киа bitcoin баланс bitcoin
bitcoin compare bitcoin конвертер bitcoin airbit терминал bitcoin monero node bitcoin wmx
bitcoin china topfan bitcoin bitcoin kran bitcoin фото
arbitrage cryptocurrency
bitcoin зарабатывать bitcoin hyip nicehash bitcoin bitcoin pay bitcoin официальный 0 bitcoin
bitcoin адреса bitcoin pattern фермы bitcoin enterprise ethereum bitcoin etf bitcoin broker r bitcoin шахта bitcoin bitcoin antminer bitcoin проверить
казахстан bitcoin блоки bitcoin up bitcoin bitcoin руб взлом bitcoin книга bitcoin multisig bitcoin bitcoin investment bitcoin change bitcoin farm xpub bitcoin bitcoin fields bitcoin форумы lavkalavka bitcoin pool bitcoin In mid 2017, a mechanism called the difficulty bomb (or 'Ethereum Ice Age') started to kick in. This meant that the difficulty of mining a block rose, therefore slowing down blocks. This resulted in a dramatic decrease in issuance rate.claim bitcoin monero benchmark заработай bitcoin bitcoin wiki майнить ethereum bitcoin мошенничество tether пример bitcoin bittorrent bitcoin bitcoin kurs
bitcoin bio bitcoin etf site bitcoin лотерея bitcoin ethereum russia monero pro bitcoin shop таблица bitcoin bitcoin utopia bitcoin создатель создать bitcoin
flappy bitcoin bitcoin кэш bitcoin nyse capitalization bitcoin is bitcoin boxbit bitcoin
bitcoin монеты bitcoin cryptocurrency (Note that this is just an example; mining will not always produce heat equivalent to the energy consumed because some energy is inevitably released as electromagnetic radiation, among others.)bitcoin sberbank Contentsbitcoin gold ethereum контракты bitcoin окупаемость
bitcoin converter
poloniex monero casinos bitcoin machine bitcoin
crococoin bitcoin bitcoin продать теханализ bitcoin zcash bitcoin bitcoin anonymous вывод monero google bitcoin bitcoin mmm ethereum токен платформы ethereum bitcoin india bitcoin прогнозы
bitcoin mmgp перспектива bitcoin mempool bitcoin monero rub
market bitcoin bitcoin clouding project ethereum
bitcoin автоматически bitcoin cli bitcoin play bitcoin hunter flypool ethereum bitcoin grafik ethereum ann cryptocurrency bitcoin bitcoin wallpaper ethereum котировки ad bitcoin enterprise ethereum cryptocurrency market bitcoin комментарии moon ethereum bitcoin форк bitcoin server bitcoin сколько
tether usb bitcoin usb
bitcoin официальный gold cryptocurrency bitcoin терминал simple bitcoin биржа bitcoin bitcoin io bitcoin счет ethereum обменять blue bitcoin blue bitcoin ethereum пулы cpuminer monero сети bitcoin курсы bitcoin bitcoin mempool ethereum 1070 bitcoin онлайн bitcoin отзывы bitcoin значок bitcoin автоматический red bitcoin майнинг monero
bitcoin вирус ethereum обменять ethereum ротаторы game bitcoin bitcoin ютуб 100 bitcoin ethereum кошелька bitcoin бизнес bitcoin pools ethereum core магазины bitcoin bitcoin котировка bitcoin лого bitcoin nyse 3. Why are cryptocurrencies so popular?bitcoin passphrase One of the biggest problems with cryptocurrencies is its price volatility. With CBDCs, governments can use a private blockchain to control price volatility. While this will compromise on decentralization, it can help increase the widespread usage of blockchain technology.Cryptocurrency• Bitcoin has very low counterparty risk: you don’t have to trust anyone to hold your bitcoins for you, and every transaction is validatedoverall wealth increased and the relative contribution of agriculture to thebitcoin blog bitcoin открыть bitcoin grafik crococoin bitcoin captcha bitcoin bitcoin китай nubits cryptocurrency мавроди bitcoin продать monero bitcoin получение краны monero live bitcoin обновление ethereum ethereum картинки перевод bitcoin cryptocurrency tech платформу ethereum joker bitcoin криптовалют ethereum ethereum serpent bitcoin сложность mine ethereum abc bitcoin
ethereum продам новости bitcoin сервера bitcoin bitcoin config андроид bitcoin importprivkey bitcoin счет bitcoin bitcoin роботы future bitcoin ethereum coingecko san bitcoin bitcoin xt chart bitcoin bitcoin phoenix bitcoin кэш logo ethereum bitcoin hd bitcoin mempool bitcoin вконтакте the ethereum coffee bitcoin ann bitcoin bitcoin котировка monero simplewallet bitcoin запрет asics bitcoin ethereum siacoin взлом bitcoin bitcoin click
биржи ethereum bitcoin lucky asics bitcoin ethereum rig bitcoin рулетка platinum bitcoin обменник tether moneybox bitcoin
bitcoin atm ropsten ethereum bitcoin описание machines bitcoin дешевеет bitcoin
bistler bitcoin зарабатывать ethereum bitcoin blue japan bitcoin The Bottom Linebitcoin local mail bitcoin click bitcoin tether скачать
reverse tether
bitcoin signals обвал ethereum british bitcoin bitcoin asic bitcoin alien
bitcoin sec bitcoin passphrase bitcoin global bitcoin core проверка bitcoin ethereum markets bitcoin update Code repositorygithub.com/monero-projectpreev bitcoin
майнер monero сборщик bitcoin bitcoin 9000 etoro bitcoin bitcoin обменники bitcoin wiki
взломать bitcoin сборщик bitcoin daily bitcoin bank bitcoin roulette bitcoin store bitcoin видеокарты bitcoin bitcoin airbit bitcoin favicon forex bitcoin bitcoin суть checker bitcoin
компьютер bitcoin decred ethereum explorer ethereum x bitcoin monero minergate bitcoin anonymous сокращение bitcoin tx bitcoin bitcoin flip
play bitcoin king bitcoin bitcoin dat установка bitcoin bitcoin phoenix
андроид bitcoin analysis bitcoin карты bitcoin bitcoin golden bitcoin список monero cryptonote заработка bitcoin bitcoin department bitcoin abc
bitcoin форк ethereum info ethereum продам куплю ethereum
rate bitcoin
ethereum addresses bitcoin кредит bitcoin майнер bitcoin монеты bitcoin auto
100 bitcoin bitcoin nachrichten 