Learn more about moneyandinvestments with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
What is Bitcoin (BTC)?
Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched in January 2009.
Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created to allow “online payments to be sent directly from one party to another without going through a financial institution.”
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MORE IDEAS ON THIS
What is Bitcoin’s Role as a Store of Value?
Bitcoin is the first decentralized, peer-to-peer digital currency. One of its most important functions is that it is used as a decentralized store of value.
In other words, it provides for ownership rights as a physical asset or as a unit of account. Many crypto enthusiasts...
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How Much is Bitcoin?
The current valuation of Bitcoin is constantly moving, all day every day. It is a truly global asset. From a start of under one cent per coin, BTC has risen in price by thousands of percent to the numbers.
The prices of all cryptocurrencies are quite volatile
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How Much Bitcoin is in Circulation?
At this moment (Monday, May 24, 2021), there are almost 18,713,700 BTC in circulation.
Bitcoin’s total supply is limited by its software and will never exceed 21,000,000 coins.
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How is the Bitcoin Network Secured?
Bitcoin is secured with the SHA-256 algorithm, which belongs to the SHA-2 family of hashing algorithms, which is also used by its fork Bitcoin Cash (
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Who are the founders of Bitcoin?
Bitcoin’s original inventor is known under a pseudonym, Satoshi Nakamoto. As of 2020, the true identity of the person — or organization — that is behind the alias remains unknown.
Over the years a large number of people have contributed to improving the cryptocurrency’s sof...
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New coins are created during the process known as 'mining'.
As compensation for spending their computational resources, the miners ...
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Crypto Wallets
The most popular wallets for cryptocurrency include both hot and cold wallets. Cryptocurrency wallets vary from hot wallets and cold wallets:
- Hot wallets are able to be connected to the web. Some of the top crypto hot wallets include Exodus
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What Makes Bitcoin Unique?
Bitcoin’s most unique advantage comes from the fact that it was the very first cryptocurrency to appear on the market.
It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who create, invest in, t...
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What is the Lightning Network?
The Lightning Network is an off-chain, layered payment protocol that operates bidirectional payment channels which allows instantaneous transfer with instant reconciliation. It enables private, high volume and trustless transactions between any two parties.
The Lig...
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Where Can You Buy Bitcoin (BTC)?
Bitcoin is almost synonymous with cryptocurrency, which means that you can buy Bitcoin on virtually every crypto exchange - both for fiat money and other cryptocurrencies. Some of the main markets where BTC trading is available are:
- ...
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Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.
EDWARD ARTHUR SEYKOTA
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Bitcoin was born from a crisis
In the middle of the 2008 banking crisis, a group of anarchists, libertarians, and other tech-savvy true believers created digital cash.
In August 2008, bitcoin dot org was registered as a domain. On Halloween the same year, Satoshi Nakamoto put up a white...
The biggest winners of bitcoin
On January 3rd, 2009, a few months after the publication of the original whitepaper, the first lines of code were committed to the bitcoin blockchain by Satoshi Nakamoto. But Nakamoto vanished. No one has discovered who Satoshi was or is, though many have tried.
The initial idea of bitcoin...
The early history of bitcoin
Bitcoin started on Jan. 3, 2009, when a hacker or group of hackers - working under the name Satoshi Nakamoto - released an ingenious string of computer code that created a system allowing people to transfer money to one another online and directly, without revealing their identity and out...
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