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Topic: [2016-05-26]A Brief History of Bitcoin and Bitcoin Mining (Read 395 times)

legendary
Activity: 4466
Merit: 3391
The purpose of the article is to promote a website. From the quality, it appears to be written by a high school student.

There are a few errors:

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Bitcoin has been around since 2009, about a year after Satoshi Nakamoto published a paper about the digital currency.

The bitcoin paper was published in November 2008. Bitcoin was launched less than 2 months later.

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The official Bitcoin website ...

There is no official website.

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In order to prevent anyone from making changes to the records, blockchain is heavily encrypted and the miners use the processing power to decrypt the transaction records and the blocks to confirm its status.

The block chain is not encrypted.

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The Bitcoin network is designed in such a way that the difficulty levels of the cryptographic problems increase at regular intervals.

The difficulty is not designed to increase at regular intervals. It can also decrease or remain the same.

legendary
Activity: 1596
Merit: 1027
A Brief History of Bitcoin and Bitcoin Mining

Bitcoin has taken the world by storm. Designed to be an instrument for peer-to-peer fund transfer, bitcoin gains its popularity due to its decentralized and open source nature. Unlike other fiat currencies, bitcoin doesn’t need a central authority like a bank or some other government or a private institution to facilitate the transaction of funds from one person to another...

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