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Title: Bitcoin's Basic Features Post by: bidvbigbank on January 26, 2018, 09:59:58 AM No Fake, Not Custom Built Bitcoin: No organization can at its discretion create, control or discourage the use of Bitcoin. The entire internet system in the world monitors and verifies each Bitcoin transaction.
No Inflation: The Bitcoin algorithm is proven to produce only a maximum of 21 million bits per second worldwide. Bitcoin reserves are limited (similar to gold). Ease of Use: Anyone can easily create Bitcoin wallet in minutes and use it to send and receive money instantly. Incognito: Bitcoin is not required to associate with any personal information. The number of wallet addresses a person can create is unlimited. What else? :-\ Title: Re: Bitcoin's Basic Features Post by: Dr_Nefario on January 26, 2018, 10:04:43 AM Medication that pleases the eyes and warms the soul. I hope you me understand correctly ;)
Title: Re: Bitcoin's Basic Features Post by: onnz423 on January 26, 2018, 10:08:21 AM Bitcoin is finite by design, this intrinsic feature makes it an excellent store of value, meanwhile block difficulty increases periodically making newly mined bitcoins fewer and fewer over time, thus the currently existing pool benefits from the increased rarity that develops over time. If userbase increases faster than the new coins can be mined, the result is an increased market cap, and hence increased value per BTC. This is a property no fiat based currency, or store of value can match.
Title: Re: Bitcoin's Basic Features Post by: abhishek_bittu on February 06, 2018, 03:29:00 PM Broadly the concept of Bitcoin was to have a financial transaction system wherein the transacting people may not be dependent on any bank or financial system. If there is no bank or financial institution in between then there won't be any high transaction fees and data pertaining to the transaction will not be sold out. A person by the name Satoshi Nakamoto invented such a software in 2008 placed it on open source in 2009. Refer my blog post: Bitcoin - What is a Bitcoin | information about bitcoin
Bitcoins are therefore digital cryptocurrency. Now if two people have financial transaction, it needs to be recorded. This can be done by any server connected to internet. But why will anyone do so ? Satoshi Nakamoto made the rule that if someone records some predetermined transactions successfully then he will get some bitcoins. This is called BitcoinMining.Bitcoin Mining | INFORMATION ABOUT BITCOINS Title: Re: Bitcoin's Basic Features Post by: hoodi on February 06, 2018, 03:30:55 PM I think you have too much high hopes, bitcoin is not the best example of perfect coin, it is old and can be traced by federal institutions it is just takes a lot of time.
Title: Re: Bitcoin's Basic Features Post by: yvesp110 on February 07, 2018, 07:40:51 PM I think you have too much high hopes, bitcoin is not the best example of perfect coin, it is old and can be traced by federal institutions it is just takes a lot of time. The best thing about bitcoin is that it is auditable as well as the person is hidden behind some username. So far in the market of crypto currencies it is the best coin as far as the price, low risks and returns are concerned. But still there has to be improvements in the present form to make it more useful for the users. My suggestion is that bitcoin must strike some deal with the bigger companies like Amazon, ebay etc for the acceptance. |