Bitcoin Forum
June 27, 2024, 07:21:11 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 [3] 4 »  All
  Print  
Author Topic: Where does Bitcoin came from?  (Read 1259 times)
Taki
Hero Member
*****
Offline Offline

Activity: 1078
Merit: 514


View Profile
October 21, 2017, 09:55:13 AM
 #41

There's a set limit of 21 million Bitcoin to be created. Currently, we are sitting at 16 million blocks. Originally, 50 Bitcoin as created every 10 minutes by miners who created "blocks". These blocks verified Bitcoin transactions. Four years later, the reward was reduced to 25 btc. Now, in 2017, the reward is 12.5 btc. It will continue to go down until we hit 21 million coins.
I would like to add that after every "block" the reward of miners is getting cutted by 50% and it's logically, cause of if they would still get so much bitcoins they would be super rich people in the world right now  Cheesy
chichan13
Full Member
***
Offline Offline

Activity: 180
Merit: 100



View Profile
October 22, 2017, 04:13:47 PM
 #42

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.

For me bitcoins come from the mining process. Bitcoins are basically just numbers and the process of mining is the process of generating numbers.
matuson
Sr. Member
****
Offline Offline

Activity: 420
Merit: 255


View Profile
October 22, 2017, 04:15:53 PM
 #43

There's a set limit of 21 million Bitcoin to be created. Currently, we are sitting at 16 million blocks. Originally, 50 Bitcoin as created every 10 minutes by miners who created "blocks". These blocks verified Bitcoin transactions. Four years later, the reward was reduced to 25 btc. Now, in 2017, the reward is 12.5 btc. It will continue to go down until we hit 21 million coins.
I would like to add that after every "block" the reward of miners is getting cutted by 50% and it's logically, cause of if they would still get so much bitcoins they would be super rich people in the world right now  Cheesy
The miners have nothing to lose. As the amount of mined coins dropping price of bitcoin grows and therefore the income remains in the same range. When the miners say that it is not profitable to mine bitcoins I don't trust them. Nobody's going to dig coins if it is not profitable. As far as I know there is no shortage of miners.
bitcoinmagneto
Jr. Member
*
Offline Offline

Activity: 51
Merit: 10


View Profile
October 22, 2017, 04:42:58 PM
 #44

According to my research on Bitcoins i have found that bitcoins were made by Satoshi Nakamoto who may be a person or a group of people as there is not a single proof  for the Identity. The Bitcoins are produced through a process known as Bitcoin Mining in which transactions are verified and added to the public ledger and solving a computationally difficult puzzle which gives a single solution through which Bitcoins are generated.
MaryCris
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
November 02, 2017, 09:38:07 AM
 #45

There was 21 million bitcoin created by an uknown guy with the alias Satoshi Nakamoto. Currently, we are sitting at 16 million blocks. Originally, 50 Bitcoin as created every 10 minutes by miners who created "blocks". These blocks verified Bitcoin transactions. Four years later, the reward was reduced to 25 btc. Now, in 2017, the reward is 12.5 btc. It will continue to go down until we hit 21 million coins.
PrasannaPR
Member
**
Offline Offline

Activity: 252
Merit: 10


View Profile
November 03, 2017, 09:05:41 AM
 #46

BTCBTCBTC First I have to say I dont know where BTC came from, But I liked to post a reply on this thread. Human invented BTC, Human modified BTC, Human altered BTC price, So oneday Human will destroy BTC!!!
ennovy22
Member
**
Offline Offline

Activity: 112
Merit: 100


View Profile
November 03, 2017, 11:28:07 AM
 #47

Bitcoin was created by 'Satoshi Nakamoto' in 2009. It was also made for mining process. According to the internet, Satoshi Nakamoto is the creator of bitcoin but it still no proof or evidences and still being mystery. Nakamoto implemented the bitcoin software as open source code.

________________EBCOIN________________        █ █   WHITEPAPER  █ █    JOIN TOKEN SALE   >  Feb 1st, 2018 - Feb 14th, 2018
The Best Gift for Travelers        ◢◢     Your Gateway to a $60 Billion Dollar Global Market     ◤◤
▬▬▬▬                FACEBOOK                  TWITTER                 SLACK                 MEDIUM                TELEGRAM                 ▬▬▬▬
smailler
Jr. Member
*
Offline Offline

Activity: 38
Merit: 10


View Profile
November 03, 2017, 04:55:36 PM
 #48

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
Although bitcoin has long been known. But I still do not know where the bitcoin is coming from. I do not care about this either. I only know bitcoin has given me a lot of money Grin Grin
Rahul20
Newbie
*
Offline Offline

Activity: 29
Merit: 0


View Profile
November 03, 2017, 05:03:21 PM
 #49

On 18 August 2008, the domain name bitcoin.org was registered. In November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as open source code and released it in January 2009. The identity of Nakamoto remains unknown, though many have claimed to know it.
asmasadiq
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
November 03, 2017, 06:02:00 PM
 #50

Good question Huh But some people don't know.It is said that a person named satoshi nakamoto created bitcoin.He is said to be from japan.But he has hidden his identity.He created it in november 2008.
Chan8
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
November 03, 2017, 06:17:42 PM
 #51

I think bitcoin was created by the illuminati. Satoshi nakamoto was actually one of the forefathers of the rothchilds family, so they named the "creator" after him in honor of this mr satoshi guy.  Ive also heard there has been a power struggle within this secret sociey, and now the group is dismantled. Some high ranking members ended up keeping most of the banks in the world, some of them was murder.  One clever little bunch stole  1 of 2 bitcoin printing machine and immigrated to china and started a company with this one bitcoin printing machine.  Heard they are getting back o  their feet now, making a decent living.. the 2nd bitcoin printing machine was spotted somewhere in Georgia, no one know much details atm.
Thats the recent news on  the streets. Anybody else can chime in, would be appreciated.
Asmonist
Sr. Member
****
Offline Offline

Activity: 756
Merit: 251


View Profile
November 03, 2017, 10:07:03 PM
 #52

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
Bitcoin is 'created' by a person or group of people with the name 'Satoshi Nakamoto'. Does anyone really know who he is? Although there are many articles and investigations to find out the truth about who he is, there is no strong evidence to date. Is it important? Not at all. Satoshi designed the entire Bitcoin system with an 'open manner' attitude - meaning it is available for viewing and reviewing by everyone, so there are no hidden secrets and no influence from the creator. As time went by, many people began to work on these codes so that they were very different from Satoshi's initial draft. It is important to remember that there is a misconception about Satoshi mentioning that Satoshi created Bitcoin alone. Like other major breakthroughs in science, Satoshi's creation was built by the hands of many people. In recent decades, many leading experts, technicians, and mathematicians have been involved in research on cryptography, systems, and more. Satoshi succeeded in summarizing all these work into a coherent and clear plan and then implementing the plan. If you read Satoshi Whitepaper, you will read references from all the discoveries that drive his success in the creation.

Thank you for this question and thank you for this very informative answer. I heard about bitcoin mining before. But the above answer gives me more idea about bitcoin history.

faycel96
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
November 03, 2017, 10:40:08 PM
 #53

A person who called himself the symbolic name Satoshi Nakamoto introduced the idea for the first time in a research paper in 2008, describing it as an electronic monetary system that relies on the principle of peer to peer . The process of issuing bitcoin and following their conversions is linked to another process called mining .

Crypto_trader87
Full Member
***
Offline Offline

Activity: 322
Merit: 100



View Profile
November 04, 2017, 12:04:34 AM
 #54

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.


Bitcoin was made by the man name satoshi nakamoto back in 2008 and he introduce in public in 2009. Bitcoin was form in software that they called it mining the computer was calculating add and subtruct and the answer is is bitcoin it only starts at the price of 0.01$ each bitcoin and now the price of bitcoin is too high and still goes up

handini
Full Member
***
Offline Offline

Activity: 392
Merit: 100



View Profile
November 10, 2017, 02:17:32 PM
 #55

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.


Bitcoin was made by the man name satoshi nakamoto back in 2008 and he introduce in public in 2009. Bitcoin was form in software that they called it mining the computer was calculating add and subtruct and the answer is is bitcoin it only starts at the price of 0.01$ each bitcoin and now the price of bitcoin is too high and still goes up
that's when we got to know bitcoin, but if I know about this forum from my friend who has been following bitcointalk long enough. so can teach it to me too. little by little he taught it, and I can understand.
CodeGroup4
Newbie
*
Offline Offline

Activity: 47
Merit: 0


View Profile
November 10, 2017, 02:23:20 PM
 #56

Bitcoin is really a fantastic system that was first started by a group of people.Here a nice system is working on exchanges of various currencies.
aisyah88
Hero Member
*****
Offline Offline

Activity: 602
Merit: 500


View Profile
November 15, 2017, 07:34:58 PM
 #57

if I personally come from bitcoin and know bitcoin from my friends ... and I learn a lot from friends and now I understand bitcoin that's what ... and now I can work while playing bitcoin at work at home can do bitcoin. ..
jak3
Legendary
*
Offline Offline

Activity: 1274
Merit: 1004


View Profile
November 15, 2017, 08:08:54 PM
 #58

Santoshi made a process called mining, it means whenever someone translate any balance in Bitcoin it gets stored into a network block which was Mind by the miners using that computer hash power. In this way the network transactions get verified and the minus will get a block reward for every network block they have mind (currently the block reward is 12 Bitcoin).
mrayazgul
Hero Member
*****
Offline Offline

Activity: 560
Merit: 500


View Profile
November 25, 2017, 11:12:13 PM
 #59

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.

Its a worldwide cryptocurrency with digital payment system. I heard its created in 2009 and the creator name was Satoshi Nakamoto who belongs to japan. Nobody's know where this guy is maybe he is hidden somewhere. 
Its a reward gaining  with the help of mining. Most of people exchange it with each other currencies and trade it with altcoins.
svendoto23
Member
**
Offline Offline

Activity: 218
Merit: 10


View Profile
November 25, 2017, 11:15:01 PM
 #60

Based on some articles and sites that ive been researched it is from a man named Satoshi Nakamoto who invented the alternative kind of cash or digital cash called bitcoin. You can reproduce it by mining it and you can also buy it on a trading sites.

T r a x i o n                                                            TRADE AND EARN DURING PRE-ICO
TRANSITIONS YOU TO A CRYPTO-READY SOCIETY       Pre-Sale starts April 15, 2018
Github     Telegram     Medium     Facebook     Twitter     Reddit     Youtube
Pages: « 1 2 [3] 4 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!