Topic: Where does Bitcoin came from? - page 4. (Read 1305 times)
I heard that there was a research paper written on digital currency and blockchain. So satoshi nakomoto implemented this research paper and created bitcoin. It was created in 2011 and have seen many faces of development. It is open source code and anybody can improve it if other accept it. Now new bitcoin are created as transaction fee for those people who mine bitcoin with usage of high sped processor and electricity. In other words bitcoin is not created free instead it cost money to create a bitcoin.
which I know bitcoin is created by Japanese people so the possibility of origin bitcoin from japan, bitcoin in want from mining and through blockchain (that's what i know).
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.
That was very informative. I always encounter the term "mining/miner of BTC", but how exactly are they mining BTC? Thanks.
Actually, I'm so much curious about bitcoin came from? How it is started? Who is introduce this in market?
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.
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.This is very informative, Thanks.
This video helped me understand where does bitcoin come from when I was a newb, you should watch it: https://www.youtube.com/watch?v=GmOzih6I1zs
Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
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. Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
Bitcoins are created from a process called bitcoin mining Mining is the process of adding transaction records to blockchian, a public ledger.
Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
base on my searching on the internet bitcoins are created in a process called mining, where a computer repeatedly works through a series of calculations that are designed to be difficult to solve, but to lead to a specific answer.
Where does bitcoin came from? How it's made and how does it expand/grow? Thank you for any answers.
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