What is Bitcoin? – A Digital Currency. What do you know about Bitcoin? Ever purchased or sold any? Or used it to pay for something, online or at a bricks and mortar store? Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country’s central bank or government. No one controls it. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
What is Bitcoin? And Bitcoin-to-Bitcoin transactions?
Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer (P2P) network. The P2P network monitors and verifies the transfer of Bitcoins between users. Each user’s Bitcoins are stored in a program called a digital wallet, which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user. Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer’s wallet to a Bitcoin address in the vendor’s wallet. OK I’m interested, how does it work? The first step is to visit bitcoin.org and download a “wallet” on your computer or mobile.
What is Bitcoin? – Need more Information
Bitcoin Resources: Find useful websites and lots of information. Bitcoin Wiki For all your Bitcoin information needs. This wiki is maintained by the Bitcoin community. Bitcoin Directory Find all the high quality Bitcoin websites. Try Bitcoin TryBTC is a tutorial website crafted to show the world how to use Bitcoin in under 5 minutes. Currently, Bitcoin is very misunderstood and information about it is confusing and sparse. Bitcoin Help The best damn guide to Bitcoin (that’s what they say on their site). Languages: English, Russian, Spanish and German. We Use Coins The We Use Coins project aims to be an easy reference point for all activity in the space of crypto-currency and Blockchain technology.
Video Presentation: Bitcoin – What is it? Zulfikar Ramzan is a world-leading expert in computer security and cryptography and is currently the Chief Scientist at Sourcefire. He received his Ph.D. in computer science from MIT. Please visit the Khan Academy – Bitcoins for several more free lessons.