If any buzzword has garnered even more attention than “Bitcoin” over the past few years, it has been “blockchain.”
It’s not unusual to have questions about the world of Bitcoin and cryptocurrencies. In an effort to clear things up, here are some answers to the most commonly asked ones.
For those interested in creating their own cryptocurrencies, copying the codebase is the easy part. Gaining and maintaining value of the currency, and therefore a market share, is the real challenge.
Bitcoin allows anyone to be their own bank. If that sounds like a potential scenario for chaos, it’s only because you haven’t yet heard of the great lengths to which Bitcoin users can go to ensure the security of their “one-person banks.”
Something truly unique about Bitcoin is that within its protocol, “ownership” is not based on the rule of law, or user accounts, or even identity. It is solely based on math.
As Bitcoin’s value rises and more people around the world become interested in investing, brand-new users are still plagued by a fundamental question: How can I buy bitcoins?
When most people hear about Bitcoin, whether for the first or the tenth time, they ask one simple question: “What is it?”
Bitcoin mining embodies several of the beautifully balanced incentives that make Bitcoin such a revolutionary system.
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A journey through the history of trading, currency and the inherent need for digital money.