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- Herausgeber: 1kkbooks
- Kategorie: Fachliteratur
- Sprache: Englisch
Unlike normal (fiat) currencies, bitcoin doesn’t have a central bank or a backing of a national government. Instead, it is regulated by complex algorithms with new coins being mined when computers solve complex equations. All this number crunching is tracked by the blockchain, a public ledger of all transactions which is distributed meaning there is no central point of the network that can be shut down. It’s perhaps analogate to file sharing protocol Bittorrent.
You can obtain bitcoin by mining them yourself of buying them from an exchange but for that to happen you will first need a wallet. There are different ways to get a wallet, you can simply store yourself on your hard disk in wallet software running locally or you can use online service and have your coins stored in a cloud. Both have advantages and disadvantages. E.g. if your coins were stored locally, if something was to happen to your computer such as your hard disk getting destroyed you lose your cash. Conversely, if your coins are stored online in an exchange there are more likely to attract hackers.
Famously in 2015, Mt. Gox, which was one of the largest bitcoin exchanges was hacked resulting in the virtual highest of 450,000 bitcoins with wooden valued at about 450 million dollars. While some coins have since been recovered, a large number are still missing due to the way the bitcoin protocol works, it's simply wasn't possible to hit the undo button. So, choose your wallet wisely.
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Seitenzahl: 26
Veröffentlichungsjahr: 2017
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THE BITCOIN GENESIS:
Bitcoin and Cryptocurrency TechnologiesMining, Investing, Trading Through Time.
Jimmy Putnic
¶
PRONOUN
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All rights reserved. Aside from brief quotations for media coverage and reviews, no part of this book may be reproduced or distributed in any form without the author’s permission. Thank you for supporting authors and a diverse, creative culture by purchasing this book and complying with copyright laws.
Copyright © 2017 by Jimmy Putnic
Interior design by Pronoun
Distribution by Pronoun
ISBN: 9781537843537
TABLE OF CONTENTS
THE HISTORY OF BITCOIN.
2010: Bitcoin’s Initial Stags.
2011: Th Awareness of Bitcoin
2012: Bitcoin matures
2013: Bitcoin Introduced to The World.
2014: Bitcoin and Cryptocurrencies.
2015: The Business Blockchain
2016: A Year of Promise for Bitcoin
2017: The Second Era of Bitcoin Begins
HOW DOES BITCOIN WORK
Obtaining Bitcoins.
Buy them from a bitcoin exchange.
Mining
SPENDING BITCOIN
Safety Tips.
THE 451 TAKE AND CURRENCY
Bitcoin and Currency
A question of faith
THE MINING OF BITCOIN
Difficulty
Reward and Hardware
Mining pools.
Mining History
ADVANATGES AND DISADVANTAGES OF BITCOIN: Complications
Advantages.
First bitcoin transaction
CONCLUSION
TABLE OF CONTENTS
2010: Bitcoin’s Initial Stags.
2011: Th Awareness of Bitcoin
2012: Bitcoin matures
2013: Bitcoin Introduced to The World.
2014: Bitcoin and Cryptocurrencies.
2015: The Business Blockchain
2016: A Year of Promise for Bitcoin
2017: The Second Era of Bitcoin Begins
HOW DOES BITCOIN WORK
Obtaining Bitcoins.
Buy them from a bitcoin exchange.
Mining
SPENDING BITCOIN
Safety Tips.
THE 451 TAKE AND CURRENCY
Bitcoin and Currency
A question of faith
THE MINING OF BITCOIN
Difficulty
Reward and Hardware
Mining pools.
Mining History
ADVANATGES AND DISADVANTAGES OF BITCOIN
Complications
Advantages.
First bitcoin transaction
CONCLUSION
THE HISTORY OF BITCOIN.
IN NOVEMBER 2008 SOMEONE GOING by the username Satoshi Nakamoto released a paper to a cryptography mailing list. The 9-page paper was entitled Bitcoin, a peer-to-peer electronic cash system. In it, it laid out a vision for a distributed digital money system. In January 2009 Satoshi Nakamoto released the first version of the open source bitcoin core software on SourceForge and the bitcoin protocol started running, people other than Satoshi Nakamoto were actively contributing to the open source code base in GitHub. The protocol was a breakthrough in cryptography that was a base on many cryptography innovations that preceded it. The experts and privacy advocates played a key role in recognizing the technical geniuses point in understanding its implications. Many members of this community would become torch bearers later in bitcoin’s history.
