Where does Bitcoin came from? - page 2.

Asmonist

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Quote from: zeingrind777 on October 13, 2017, 11:21:30 PM

Quote from: YouKnowMe on October 13, 2017, 10:31:04 PM

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.

Bitcoin is 'created' by a person or group of people with the name 'Satoshi Nakamoto'. Does anyone really know who he is? Although there are many articles and investigations to find out the truth about who he is, there is no strong evidence to date. Is it important? Not at all. Satoshi designed the entire Bitcoin system with an 'open manner' attitude - meaning it is available for viewing and reviewing by everyone, so there are no hidden secrets and no influence from the creator. As time went by, many people began to work on these codes so that they were very different from Satoshi's initial draft. It is important to remember that there is a misconception about Satoshi mentioning that Satoshi created Bitcoin alone. Like other major breakthroughs in science, Satoshi's creation was built by the hands of many people. In recent decades, many leading experts, technicians, and mathematicians have been involved in research on cryptography, systems, and more. Satoshi succeeded in summarizing all these work into a coherent and clear plan and then implementing the plan. If you read Satoshi Whitepaper, you will read references from all the discoveries that drive his success in the creation.

Thank you for this question and thank you for this very informative answer. I heard about bitcoin mining before. But the above answer gives me more idea about bitcoin history.

Chan8

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I think bitcoin was created by the illuminati. Satoshi nakamoto was actually one of the forefathers of the rothchilds family, so they named the "creator" after him in honor of this mr satoshi guy. Ive also heard there has been a power struggle within this secret sociey, and now the group is dismantled. Some high ranking members ended up keeping most of the banks in the world, some of them was murder. One clever little bunch stole 1 of 2 bitcoin printing machine and immigrated to china and started a company with this one bitcoin printing machine. Heard they are getting back o their feet now, making a decent living.. the 2nd bitcoin printing machine was spotted somewhere in Georgia, no one know much details atm.
Thats the recent news on the streets. Anybody else can chime in, would be appreciated.

asmasadiq

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Good question Huh

But some people don't know.It is said that a person named satoshi nakamoto created bitcoin.He is said to be from japan.But he has hidden his identity.He created it in november 2008.

Rahul20

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On 18 August 2008, the domain name bitcoin.org was registered. In November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as open source code and released it in January 2009. The identity of Nakamoto remains unknown, though many have claimed to know it.

smailler

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Quote from: YouKnowMe on October 13, 2017, 10:31:04 PM

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.

Although bitcoin has long been known. But I still do not know where the bitcoin is coming from. I do not care about this either. I only know bitcoin has given me a lot of money Grin

ennovy22

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Bitcoin was created by 'Satoshi Nakamoto' in 2009. It was also made for mining process. According to the internet, Satoshi Nakamoto is the creator of bitcoin but it still no proof or evidences and still being mystery. Nakamoto implemented the bitcoin software as open source code.

PrasannaPR

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BTCBTCBTC First I have to say I dont know where BTC came from, But I liked to post a reply on this thread. Human invented BTC, Human modified BTC, Human altered BTC price, So oneday Human will destroy BTC!!!

MaryCris

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There was 21 million bitcoin created by an uknown guy with the alias Satoshi Nakamoto. Currently, we are sitting at 16 million blocks. Originally, 50 Bitcoin as created every 10 minutes by miners who created "blocks". These blocks verified Bitcoin transactions. Four years later, the reward was reduced to 25 btc. Now, in 2017, the reward is 12.5 btc. It will continue to go down until we hit 21 million coins.

bitcoinmagneto

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According to my research on Bitcoins i have found that bitcoins were made by Satoshi Nakamoto who may be a person or a group of people as there is not a single proof for the Identity. The Bitcoins are produced through a process known as Bitcoin Mining in which transactions are verified and added to the public ledger and solving a computationally difficult puzzle which gives a single solution through which Bitcoins are generated.

matuson

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Quote from: Taki on October 21, 2017, 04:55:13 AM

Quote from: Decoded on October 14, 2017, 01:54:17 AM

There's a set limit of 21 million Bitcoin to be created. Currently, we are sitting at 16 million blocks. Originally, 50 Bitcoin as created every 10 minutes by miners who created "blocks". These blocks verified Bitcoin transactions. Four years later, the reward was reduced to 25 btc. Now, in 2017, the reward is 12.5 btc. It will continue to go down until we hit 21 million coins.

I would like to add that after every "block" the reward of miners is getting cutted by 50% and it's logically, cause of if they would still get so much bitcoins they would be super rich people in the world right now Cheesy

The miners have nothing to lose. As the amount of mined coins dropping price of bitcoin grows and therefore the income remains in the same range. When the miners say that it is not profitable to mine bitcoins I don't trust them. Nobody's going to dig coins if it is not profitable. As far as I know there is no shortage of miners.

chichan13

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Quote from: YouKnowMe on October 13, 2017, 10:31:04 PM

Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.

For me bitcoins come from the mining process. Bitcoins are basically just numbers and the process of mining is the process of generating numbers.

Taki

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Quote from: Decoded on October 14, 2017, 01:54:17 AM

There's a set limit of 21 million Bitcoin to be created. Currently, we are sitting at 16 million blocks. Originally, 50 Bitcoin as created every 10 minutes by miners who created "blocks". These blocks verified Bitcoin transactions. Four years later, the reward was reduced to 25 btc. Now, in 2017, the reward is 12.5 btc. It will continue to go down until we hit 21 million coins.

I would like to add that after every "block" the reward of miners is getting cutted by 50% and it's logically, cause of if they would still get so much bitcoins they would be super rich people in the world right now Cheesy

FJNuñez

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🌟ATLANT ICO: 7/09/17🌟

Bitcoin came from a cryptographer mailing list where one person, or group, released a technical paper that proposed a peer-to-peer electronic cash system based on cryptographic proof.

sublime5447

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bitcoin was created by a groupand it’s unknown until now but many sites have explained that bitcoin was created by Satoshi Nakamoto and many still don’t know whether Satoshi Nakamoto created bitcoin alone or with his group, but should be grateful for now because of the existence of bitcoin many people are financially helped to be better.

truthstalker

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Quote from: bitvalak on October 18, 2017, 12:03:13 PM

there is no valid information about where the bitcoin is coming from. What is clear from some information from the bitcoin forums is made by a group of people who named them as Satoshi Nakamoto.
bitcoin is growing rapidly because of its innovation in managing its assets, and most importantly its security is very high. In addition the bitcoin runs by itself without anyone being able to control the center. This is why bitcoin is growing very rapidly.

Of course it is. Bitcoin comes from mining difficulty is a mini game to distribute coins evenly.

teilwalL05

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Quote from: liuqi on October 18, 2017, 12:17:55 PM

Quote from: bitvalak on October 18, 2017, 12:03:13 PM

there is no valid information about where the bitcoin is coming from. What is clear from some information from the bitcoin forums is made by a group of people who named them as Satoshi Nakamoto.
bitcoin is growing rapidly because of its innovation in managing its assets, and most importantly its security is very high. In addition the bitcoin runs by itself without anyone being able to control the center. This is why bitcoin is growing very rapidly.

After invention Satoshi expects the bitcoin to be mined only using the GPU cards and PC only but now bitcoin mining expands using the application system integrated circuits(ASIC) miners. Each coins will be mined using the blocks and network pools segregated to concern pools. Ant pool large space to mine the nerwork pools.

Then towards mining blocks it became difficult in getting a block that is why they needed ASIC chip miners or ant miner that can solve blocks really fast, then there are many sites that circulates satoshi's like faucets earning bitcoin by clicking or solving captcha, then altcoins were introduce that involve trading with other altcoins with these many earning and acuiring bitcoin many investors and user are buying bitcoin that is why the demands right now is so great with only just 20 millions block left to mine. That is why the price fluctuates more eagerly up.

selectaselectine

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I-CHAIN - The Revolution of Digital Advertising

In a conventional financial system, new money is created by a central bank, such as the Federal Reserve. But the Bitcoin network doesn't have a central bank. So the system needed an alternative mechanism for introducing currency into circulation.

liuqi

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LuckyB.it is Back!

Quote from: bitvalak on October 18, 2017, 12:03:13 PM

there is no valid information about where the bitcoin is coming from. What is clear from some information from the bitcoin forums is made by a group of people who named them as Satoshi Nakamoto.
bitcoin is growing rapidly because of its innovation in managing its assets, and most importantly its security is very high. In addition the bitcoin runs by itself without anyone being able to control the center. This is why bitcoin is growing very rapidly.

After invention Satoshi expects the bitcoin to be mined only using the GPU cards and PC only but now bitcoin mining expands using the application system integrated circuits(ASIC) miners. Each coins will be mined using the blocks and network pools segregated to concern pools. Ant pool large space to mine the nerwork pools.

bitvalak

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SecureShift.io | Crypto-Exchange

there is no valid information about where the bitcoin is coming from. What is clear from some information from the bitcoin forums is made by a group of people who named them as Satoshi Nakamoto.
bitcoin is growing rapidly because of its innovation in managing its assets, and most importantly its security is very high. In addition the bitcoin runs by itself without anyone being able to control the center. This is why bitcoin is growing very rapidly.

krypt0n1

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🔵 Brickblock.io - Future of Stock Trading

Miners are awarded newly "minted" bitcoin for verifying transactions. Approximately every 4 years, there is a halving where the rewards the miners receive for these verifications are reduced by half.

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