Bitcoin Have you Heard of It? Come Read

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    Aznmonk's Avatar
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    Bitcoin Have you Heard of It? Come Read


    Bitcoin (sign: BTC) is a decentralized digital currency based on an open-source, peer-to-peer internet protocol. It was introduced by a pseudonymous developer named Satoshi Nakamoto in 2009.One bitcoin is subdivided into 100-million smaller units called satoshis. There is a hard limit of 21-million bitcoins in total, which are released at a scheduled rate until the year 2140. Internationally, bitcoins can be exchanged by personal computer directly through a wallet file or a website without an intermediate financial institution. They can also be exchanged through physical banknotes and coins.Unlike most currencies, bitcoin does not rely on a central issuer, like a central bank or government. Instead, bitcoin uses a transaction log across a peer-to-peer computer network to record transactions, verify them and prevent double spending. The verification process awards effective bitcoin nodes or "bitcoin miners" with a limited release of bitcoins and transaction fees (if any). This process requires intense computing power, electricity and significant investment as it solves SHA256 hashes through bruteforce to verify transactions and add them to the network's transaction log.Currently, bitcoin is the most widely used alternative currency: As of February 2013, the monetary base of bitcoin is valued at over 275 million US dollars.


    This currency lately has been hitting the press hard and i am helping spread the word, i just wanted to share it with a few people as the more people that know it and get interested will in turn spread it more like a virus except its a opposition to the currency that is losing value.If anyone has questions please ask , i am new to it as well but i want to network with people who know more about marketing and economics so i can understand the depth of exchanges better

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    yeah its even got its own highly encrypted online black market

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