What is Bitcoin?
Bitcoin is money no one can take without your permission. It cannot be inflated away or confiscated, because no one person, company, or government controls it.
Bitcoin is digital money governed by computer code running on thousands of computers across the world. This computer code is separately run by many thousands of disparate individuals and organizations. This distributed base of code and people is ultimately what gives bitcoin its strong assurances against seizure and inflation.
Bitcoin is the first money system ever created that has a monetary policy anyone can understand and rely on, because no individual or organization has the ability to change it. When Bitcoin was launched in 2009, its monetary policy was defined in its initial codebase as a fixed-supply of 21,000,000 bitcoins. Copies of this code are now running all over the world, working together to process bitcoin transactions every second of every day. Unlike every other digital money system, there is no central point of control that make changes to the money supply.
This distributed nature and fixed supply give bitcoin properties similar to gold, but in electronic, digital form. That makes it fit for the modern economy, and allows for other capabilities that are not possible with physical assets. One way to conceptualize bitcoin is as "digital gold", but there are many ways to think about bitcoin.
How Bitcoin is Different
Until Bitcoin, all electronic money and digital transactions had to be managed by some authority, be it a bank, company, or government. Someone always had to sit in the middle of your transaction, with the ability to approve or deny it, and the currency used always had to be controlled by a central issuer that fully controlled monetary policy (ie, usually a government currency like USD or EUR).
This is not the case with bitcoin. When you want to use it, you can connect your wallet software to the internet and let it talk to the bitcoin network as a whole. You do not need to "login" to any service or have someone else issue transactions on your behalf. Combined with bitcoin's algorithmic monetary policy, this means you fully control your bitcoin, and no one can interfere with your ability to use it, or inflate the value away through monetary policy.
Why Bitcoin Matters
A few of the implications of bitcoin's unique properties include:
Bitcoin is the first scarce digital asset. Until bitcoin, anything digital could be easily copied. Satoshi Nakamoto's solution to this "double spending problem" and related issues around distributing the initial money supply fairly, was a breakthrough in computer science.
Scarcity is a key property of money. Until bitcoin, money native to the internet was not possible. With digital scarcity, native digital money can exist. It's been said that "if the internet were a country, bitcoin would be its currency".
Bitcoin is an open protocol, like other foundations of the internet such as tcp/ip (internet data packets) and smtp (email). Open protocols often dominate indefinately once they achieve an initial critical mass, due to the network effects that build-up on top of them. Bitcoin as a protocol for digital money and store of value is likely no different.
A store of value that's purely digital has many advantages over physical counterparts. Bitcoin can be moved with ease across the world, verified as authentic immediately, and even encrypted and "backed-up" in a "brain wallet" (memorized key).
As scarce digital value with no middleman, bitcoin represents perhaps the only asset that can be completely owned, controlled, and transported without reliance on any 3rd party.
The combination of bitcoin's properties as "digital gold", its censorship resistance, and flexibility due to its digital nature make it a powerful tool for people to take direct control over their financial lives, and/or take refuge from inflationary central bank monetary policies. This is why some describe bitcoin as "a peaceful revolution".
Bitcoin (pre)History
With the rise of PCs and public-key cryptography in the late 1970s, people began to realize that a fully electronic currency, not controlled by any single entity, might be possible. For 30 years, various cryptographers and entrepreneurs launched attempts at such a currency, but never solved key engineering and incentives trade-offs necessary to make it work well.
This changed in late 2008 when Satoshi Nakamoto published the bitcoin whitepaper to a cryptography mailing list, and subsquently published the bitcoin code and launched the bitcoin network in early 2009. Satoshi's achievement was three decades in the making, melding ideas from many other digital currency attempts into one elegant system. For decades many suspected that if a natively-digital money system without central control could be made to work, it would grow and thrive; Bitcoin is proving that true.
ethereum проблемы bitcoin clicker bitcoin work plus500 bitcoin bitcoin адрес bitcoin капитализация bitcoin wiki eobot bitcoin команды bitcoin bitcoin математика bitcoin adress
миксер bitcoin
виталий ethereum bitcoin miner bitcoin community bitcoin инвестирование сервисы bitcoin tether майнинг bitcoin 3 код bitcoin ccminer monero продать monero
bitcoin sphere cryptocurrency это testnet ethereum график ethereum monero настройка bitcoin инструкция home bitcoin
ico ethereum cryptocurrency trading bitcoin loan cpa bitcoin bitcoin hyip
bitcoin games registration bitcoin bitcoin p2p accepts bitcoin bitcoin лохотрон trader bitcoin direct bitcoin стоимость bitcoin bitcoin group rx580 monero why cryptocurrency bitcoin компьютер bitcoin keys bitcoin развод store bitcoin
love bitcoin bitcoin dynamics
bitcoin обменники bitcoin zebra bitcoin get майнинг ethereum проекта ethereum 6000 bitcoin bitcoin check ethereum contracts bitcoin ocean bitcoin daemon bitcoin gold bitcoin spinner video bitcoin antminer bitcoin
mercado bitcoin ethereum debian bitcoin tools dag ethereum вклады bitcoin simple bitcoin bitcoin instant бесплатно bitcoin bitcoin пополнить основатель bitcoin bitcoin banks bitcoin loan bitcoin map cryptocurrency ethereum ethereum russia ethereum mine monero кошелек bitcoin machine bitcoin machine
сервера bitcoin bitcoin office видеокарты ethereum lamborghini bitcoin bitcoin lucky bitcoin purchase
bitcoin monkey
bitcoin ruble mempool bitcoin подтверждение bitcoin bitcoin счет bitcoin экспресс ethereum charts alpari bitcoin сигналы bitcoin ethereum продать iso bitcoin ethereum course coinder bitcoin смесители bitcoin система bitcoin rbc bitcoin bitcoin up bitcoin фото monero core bitcoin withdrawal график bitcoin ethereum капитализация ethereum blockchain ethereum contract ethereum forks отзывы ethereum зебра bitcoin 6000 bitcoin rate bitcoin
bitcoin rotators рынок bitcoin habrahabr bitcoin reddit cryptocurrency bitcoin hack flypool ethereum split bitcoin monero cpuminer bitcoin 4 часы bitcoin talk bitcoin bitcoin презентация bitcoin free bitcoin free мавроди bitcoin
стоимость monero bitcoin кошелька обмен ethereum bitcoin asic bitcoin мошенничество xmr monero bitcoin circle миллионер bitcoin
ethereum studio ethereum chaindata
ethereum gas tether верификация Small touchscreen for typingbitcoin euro tether скачать
bitcoin instagram платформы ethereum bitcoin knots monero hardware bitcoin математика токен bitcoin The development of Ripple traces its origins back before cryptocurrencies. In 2013, it began linking to the Bitcoin protocol as Opencoin. The open-source software is free to use, pro-government regulation, and able to send payments to Bitcoin addresses.tether комиссии bitcoin fake bitcoin ваучер bitcoin now eobot bitcoin arbitrage cryptocurrency local ethereum bitcoin register
kinolix bitcoin monero rur bank cryptocurrency хардфорк bitcoin btc ethereum ethereum регистрация cms bitcoin bitcoin future bitcoin проблемы перспективы ethereum bitcoin koshelek bitcoin kazanma обменник monero bitcoin flex bitcoin mempool
bitcoin реклама bitcoin formula tether gps bitcoin список bitcoin книга cryptocurrency mining nanopool monero система bitcoin
bitcoin mining bitcoin компания store bitcoin monero spelunker nicehash bitcoin фонд ethereum обмен bitcoin neo bitcoin
EthereumTrade Litecoinbitcoin обменники segwit bitcoin bitcoin вектор bitcoin rub faucet cryptocurrency
ethereum форум bitcoin blue биткоин bitcoin обменники bitcoin foto bitcoin bitcoin авито locate bitcoin deep bitcoin bitcoin express ethereum faucet bitcoin продать
fire bitcoin bitcoin технология валюта tether bitcoin 1000 зарабатывать bitcoin
ethereum vk bitcoin биржи lurkmore bitcoin фьючерсы bitcoin bitcoin пул bitcoin комментарии ethereum описание bitcoin faucet metropolis ethereum create bitcoin bitcoin ethereum
bitcoin pay bitcoin favicon
ethereum api рубли bitcoin bitcoin rub bitcoin фарм circle bitcoin ecdsa bitcoin js bitcoin titan bitcoin сети ethereum bitcoin комиссия bitcoin монеты genesis bitcoin bitcoin купить bitcoin cards особенности ethereum bitcoin шахта bitcoin circle
bitcoin лотерея mac bitcoin аккаунт bitcoin fpga ethereum
india bitcoin bitcoin инвестиции space bitcoin information bitcoin хайпы bitcoin freeman bitcoin bitcoin value x bitcoin bitcoin kz bitcoin виджет
ethereum контракт dwarfpool monero money bitcoin
project ethereum токен ethereum crococoin bitcoin продать monero amd bitcoin
monero hashrate токены ethereum bitcoin сети pps bitcoin bitcoin obmen bitcoin motherboard ethereum block bitcoin spinner bitcoin wikileaks асик ethereum new bitcoin bitcoin видеокарты bitcoin доходность bitcoin flapper fast bitcoin 1070 ethereum bitcoin cz ethereum org geth ethereum bitcoin pool ethereum стоимость We learned in the 'Accounts' section that transactions — both message calls and contract-creating transactions — are always initiated by externally owned accounts and submitted to the blockchain. Another way to think about it is that transactions are what bridge the external world to the internal state of Ethereum.Timestamping schemeProof-of-workclick bitcoin bitcoin bcn разработчик ethereum
bitcoin qr автомат bitcoin bitcoin asic bitcoin capitalization биткоин bitcoin Each miner can choose which transactions are included in or exempted from a block. A greater number of transactions in a block does not equate to greater computational power required to solve that block.bitcoin продам bitcoin ethereum генераторы bitcoin форекс bitcoin bitcoin ios bitcoin hacker программа ethereum bitcoin дешевеет bitcoin nvidia bitcoin options bitcoin paper bitcoin litecoin ethereum course
chain bitcoin tether верификация bitcoin earnings exchanges bitcoin
bitcoin комментарии ethereum com bitcoin hardfork nicehash monero
mempool bitcoin сайте bitcoin bitcoin formula vps bitcoin bitcoin froggy
кошелька bitcoin bitcoin grafik bitcoin исходники tails bitcoin ethereum game ethereum miners ethereum rig bitcoin poloniex rbc bitcoin кошелька bitcoin
bitcoin abc
bitcoin russia взлом bitcoin
bitcoin автоматически ethereum forum bitcoin проект bitcoin пример bitcoin wallet bitcoin apple decred ethereum
бесплатный bitcoin анонимность bitcoin ethereum сайт майнить monero ethereum падает bitcoin обозначение bitcoin китай 100 bitcoin credit bitcoin обменник tether bitcoin dance
analysis bitcoin генераторы bitcoin bitcoin tails bitcoin get wallets cryptocurrency poloniex ethereum
ethereum регистрация
bitcoin nedir eos cryptocurrency torrent bitcoin 777 bitcoin monero pro Learning how to create a cryptocurrency (which requires building a blockchain from scratch) is very expensive and takes a lot of time. You also need an amazing team of developers!bitcoin сбор настройка bitcoin bitcoin machines форк bitcoin bitcoin take
wired tether платформы ethereum bitcoin bow bitcoin foto bitcoin flapper charts bitcoin tcc bitcoin bitcoin widget bitfenix bitcoin apple bitcoin