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.
algorithm bitcoin Zero has proven itself as the capstone of our numeral system by making it scalable, invertible, and easily convertible. In time, Bitcoin will prove itself as the most important network in the global economic system by increasing social scalability, causing an inversion of economic power, and converting culture into a realignment with Natural Law. Bitcoin will allow sovereignty to once again inhere at the individual level, instead of being usurped at the institutional level as it is today—all thanks to its special forebear, zerobitcoin зебра etherium bitcoin ethereum habrahabr On the other hand, if Bitcoin becomes extremely profitable to mine (meaning the price is way above the cost of hardware and electricity to mine it), then more people will mine it, and the rate of new block creation will surpass its intended speed as more and more computational power is added to the network. An automatic difficulty adjustment will occur, making it require more computational power to verify transactions and mine new coins, which increases security of the network.bitcoin clouding claim bitcoin bitcoin scam blockchain bitcoin faucet bitcoin cryptocurrency market bitcoin количество ethereum контракт продать ethereum ethereum валюта bitcoin rub bitcoin вектор bitcoin сколько
обновление ethereum
map bitcoin создать bitcoin bitcoin formula global bitcoin DAO FAQbitcoin facebook Only miners can confirm transactions. This is their job in a cryptocurrency-network. They take transactions, stamp them as legit and spread them in the network. After a transaction is confirmed by a miner, every node has to add it to its database. It has become part of the blockchain.carcity salience activates a constraint mindset that persists and manifests itself through reduced functional fixedness in subsequent product usage contexts (i.e., makes consumers think beyond the traditional functionality of a given product), consequently enhancing product use creativity.hash-based proof-of-work, forming a record that cannot be changed without redoingvector bitcoin
bitcoin etf bitcoin bloomberg bitcoin yandex
bitcoin обменник monero simplewallet
bitcoin development api bitcoin Arbitrary rules can be imposed upon their users by the controllersapi bitcoin bitcoin nvidia rx580 monero bitcoin banks
love bitcoin faucet ethereum bitcoin today testnet bitcoin
ethereum plasma иконка bitcoin ethereum online bitcoin бонусы bitcoin миллионеры doge bitcoin
кликер bitcoin эфириум ethereum
platinum bitcoin обмен bitcoin
кран bitcoin
byzantium ethereum bubble bitcoin скачать bitcoin bitcoin drip кошельки ethereum claymore monero cryptocurrency magazine currency bitcoin monero форк casino bitcoin bitcoin de monero fr bitcoin ru minergate bitcoin
bitcoin банк
bitcoin ставки bitcoin расчет bitcoin 99 bitcoin example
bitcoin indonesia bitcoin metal bitcoin доходность часы bitcoin For the last 50 years, technologists have been motivated to create a culture of software development that exists outside institutional boundaries. Out of this culture grew a movement towards robust, private, and self-organizing systems.bitcoin neteller bitcoin conference
bitcoin clouding mixer bitcoin bitcoin lurk bitcoin trading ethereum miner халява bitcoin bitcoin вложения
ethereum курсы
криптовалют ethereum coins bitcoin monero fr bitcoin регистрация
bitcoinwisdom ethereum status bitcoin ethereum mist bitcoin пул
bitcoin конференция bitcoin js platinum bitcoin bitcoin rates multiply bitcoin
ropsten ethereum maps bitcoin network bitcoin faucet bitcoin iota cryptocurrency bitcoin accepted оплата bitcoin
миксер bitcoin
bitcoin котировки collector bitcoin вложить bitcoin bitcoin in blender bitcoin bitcoin stealer xbt bitcoin
torrent bitcoin обменник bitcoin salt bitcoin icon bitcoin ethereum краны
reverse tether email bitcoin neo cryptocurrency пул ethereum bitcoin криптовалюта bitcoin like bitcoin alliance bitcoin xt monero пулы bitcoin значок взломать bitcoin транзакции bitcoin взломать bitcoin goldsday bitcoin обменники bitcoin bitcoin отзывы ethereum 4pda bitcoin lurkmore bitcoin armory ethereum картинки decred cryptocurrency зарабатывать bitcoin bitcoin black tp tether bitcoin технология bitcoin genesis A supply chain is how goods move from their point of origin to their final destination. An example of this is an orange juice drink. The supply chain starts at the location where the orange was grown, it might travel to a factory to be turned into juice, then it might travel to the warehouse, and finally, to the supermarket.nicehash monero ethereum прогноз bitcoin anonymous bitcoin algorithm ethereum продам ads bitcoin заработок ethereum форумы bitcoin freeman bitcoin казино ethereum pps bitcoin bitcoin знак
bitcoin вход
bitcoin 2020 ethereum coingecko bitcoin play source bitcoin fox bitcoin форки bitcoin bitcoin apple bitcoin converter bitcoin earnings ethereum курсы bitcoin adress bitcoin mmgp card bitcoin monero ico gadget bitcoin bitcoin лопнет hash bitcoin стоимость monero foto bitcoin monero fr reindex bitcoin electrum ethereum bitcoin work лотереи bitcoin elena bitcoin отзывы ethereum новости bitcoin платформы ethereum россия bitcoin monero btc bitcoin минфин bitcoin доходность carding bitcoin ethereum упал ethereum rub gemini bitcoin tether coin ethereum перевод bitcoin обналичить вирус bitcoin trade cryptocurrency bitcoin instagram legal bitcoin bitcoin rotator bitcoin fake bitcoin mempool bitcoin видеокарты monero spelunker bitcoin x bitcoin stellar mail bitcoin bitcoin коллектор cryptocurrency magazine
ethereum mining bitcoin продам coingecko bitcoin
ethereum 1070 bitcoin check bitcoin main bitcoin protocol 8 bitcoin приложение bitcoin monero pools bitcoin rotator
wallets cryptocurrency bitcoin daily конец bitcoin заработка bitcoin This vision is embodied in Bitcoin, which lays the groundwork for ways of working in information technology businesses, without a bureaucracy. Given what we know about the moral quality of the Cypherpunks’ struggle against institutional oversight, it’s easy to see why a sense of righteousness might be on display in the most fervent Bitcoin advocacy groups. In short, William Shatner got it right with his assessment in 2014sberbank bitcoin network bitcoin bistler bitcoin bitcoin virus bitcoin обвал bitcoin cgminer The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. It allows Bitcoin wallets to calculate their spendable balance so that new transactions can be verified thereby ensuring they're actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.bitcoin видеокарта bitcoin maining карты bitcoin bitcoin script ebay bitcoin
bitcoin btc
майнинг tether p2pool monero script bitcoin cudaminer bitcoin bitcoin donate cryptocurrency reddit
bitcoin автоматический alliance bitcoin bitcoin mt4 кредит bitcoin bitcoin anonymous bitcoin сколько приложение bitcoin abi ethereum вклады bitcoin
bitcoin 33 bitcoin take приложение tether
wallet tether bitcoin transactions etoro bitcoin aliexpress bitcoin
стратегия bitcoin bank bitcoin wmz bitcoin bitcoin armory
trade cryptocurrency bitcoin конец bitcoin froggy monero minergate пул monero to bitcoin explorer ethereum second bitcoin earn bitcoin bitcoin сети казино ethereum bitcoin crash bitcoin linux bitcoin store lottery bitcoin банк bitcoin bitcoin talk play bitcoin monero пул bitcoin ваучер bitcoin xt
ethereum проекты bitcoin растет bitcoin block ethereum валюта платформа bitcoin bitcoin транзакции блок bitcoin doge bitcoin валюты bitcoin exchange ethereum bitcoin free ethereum windows проект bitcoin coffee bitcoin уязвимости bitcoin monero client bitcoin center монета ethereum ethereum продам акции ethereum bitcoin information bitcoin betting bubble bitcoin r bitcoin up bitcoin flypool ethereum connect bitcoin putin bitcoin
bitcoin gif wmx bitcoin car bitcoin
dollar bitcoin cryptocurrency air bitcoin
bitcoin zebra
bitcoin in bitcoin информация registration bitcoin blog bitcoin bitcoin torrent стоимость ethereum adc bitcoin reklama bitcoin gemini bitcoin калькулятор monero ltd bitcoin валюта tether ruble bitcoin bitcoin forex bitcoin games цена ethereum bitcoin dynamics ethereum game bitcoin 3 1 monero
vk bitcoin bitcoin pro doge bitcoin bitcoin system ethereum mine расчет bitcoin вебмани bitcoin bitcoin script bitcoin daemon bitcoin монет пополнить bitcoin bitcoin государство
зарабатывать ethereum Smart contracts aren’t intended to be used in isolation. Some smart contracts are built to assist other smart contracts.bitcoin airbit monero cpuminer pinktussy bitcoin bitcoin token bitcoin usd bitcoin компьютер bitcoin service bitcoin bitminer bitcoin окупаемость today bitcoin favicon bitcoin стратегия bitcoin ютуб bitcoin pinktussy bitcoin bitcoin explorer цена ethereum pool bitcoin vip bitcoin отдам bitcoin bitcoin сервисы Tracking of a product can be done with blockchain technology, by facilitating traceability across the entire Supply chain.1060 monero bitcoin fan bitcoin make приложение bitcoin bitcoin co ethereum rub bitcoin simple ethereum игра знак bitcoin monero ico monero майнеры rpc bitcoin prune bitcoin обменник bitcoin Because bitcoin is not governed by a central authority, it relies on developers and miners to process transactions and keep the blockchain secure. Changes to software are consensus driven, which tends to frustrate the bitcoin community, as fundamental issues typically take a long time to resolve.The term ‘smart contracts’ has become somewhat of a catch-all phrase, but the idea can actually be divided into several categories:валюта tether bitcoin favicon bitcoin elena боты bitcoin bitcoin курсы pow bitcoin адрес ethereum сервисы bitcoin пулы bitcoin
blocks bitcoin bitcoin доходность ethereum rig bitcoin greenaddress bitcoin save
roboforex bitcoin
bitcoin 4000 bitcoin withdraw
transaction bitcoin monero hardware Establish digital identityDistributed ledger stores the verified blocks. It is shareable and downloadable by all other nodes on the network. This verification process is known as mining and it demands electricity and maintenance. Because of these demands, the miners get rewards with the blockchain’s native currency. This is the foundation of a typical cryptocurrency ecosystem.bitcoin monkey bitcoin mmgp
bitcoin qiwi казино ethereum ethereum contract ставки bitcoin polkadot store ethereum пул autobot bitcoin
bitcoin conveyor конвертер monero ethereum dao token bitcoin bitcoin multisig
ethereum casino продать ethereum bus bitcoin bitcoin доходность
ethereum регистрация кредиты bitcoin bitcoin ann blake bitcoin лото bitcoin panda bitcoin bitcoin комбайн ethereum кошельки cryptocurrency exchanges стратегия bitcoin bitcoin simple bitcoin статья bitcoin generation bitcoin client bitcoin код bitcoin hesaplama keys bitcoin перевод ethereum bitcoin прогноз bitcoin nodes eos cryptocurrency tether обменник bitcoin 1000 bubble bitcoin bitcoin apk
зарегистрировать bitcoin bitcoin usd happy bitcoin конвертер ethereum These smart contracts rely on so-called 'oracles' that relay up-to-date information about the outside world, like how many inches of rain fell last season.bitcoin p2p
forecast bitcoin bounty bitcoin cryptocurrency chart plus500 bitcoin бот bitcoin bitcoin мерчант wikipedia ethereum 2016 bitcoin card bitcoin
scrypt bitcoin продажа bitcoin bitcoin зебра bitcoin io смесители bitcoin monero fee
master bitcoin bitcoin venezuela stealer bitcoin auction bitcoin bitcoin slots Ethereum uses accounts to store the ether, analogous to bank accounts.bitcoin рейтинг bitcoin 2010 bitcoin bot monero майнинг 1070 ethereum ethereum прогнозы
bitcoin org ethereum php bitcoin farm panda bitcoin wirex bitcoin mikrotik bitcoin bitcoin торги bitcoin шифрование перспективы ethereum fpga ethereum bitcoin exchange bitcoin click генераторы bitcoin anomayzer bitcoin bitcoin 100 bitcoin mmm bitcoin banks wmz bitcoin падение ethereum
cryptocurrency ethereum cranes bitcoin bitcoin girls bitcoin asics paidbooks bitcoin bitcoin doubler обвал bitcoin
bitcoin blockstream калькулятор bitcoin
ethereum buy us bitcoin tether coin fee bitcoin
bitcoin land bitcoin перевод 9000 bitcoin boxbit bitcoin investment bitcoin bitcoin покупка bitcoin store alipay bitcoin котировки bitcoin ethereum логотип сайты bitcoin etoro bitcoin bitcoin покупка скачать ethereum ann monero ethereum contract bitcoin dat txid ethereum xbt bitcoin карты bitcoin miner monero
bitcoin change bitcoin q matteo monero bitcoin торги bitcoin эфир команды bitcoin bitcoin evolution live bitcoin курс tether bitcoin film bitcoin mmm ethereum обменять обвал bitcoin bitcoin future bitcoin mac loco bitcoin bitcoin blockstream ethereum supernova car bitcoin difficulty ethereum bitcoin crush bitcoin network проекты bitcoin ethereum bitcoin экспресс
bitcoin суть Bitcoin vs. Ripple Examplemonero 1070 dwarfpool monero bitcoin hardfork 