| submitted by /u/leftycatchersmit
As cryptocurrency, and blockchain technology become more abundant throughout our society, it’s important to understand the inner workings of this technology, especially if you plan to use cryptocurrency as an investment vehicle. If you’re new to the crypto-sphere, learning about Bitcoin makes it much easier to understand other cryptocurrencies as many other altcoins' technologies are borrowed directly from Bitcoin.
Bitcoin is one of those things that you look into only to discover you have more questions than answers, and right as you’re starting to wrap your head around the technology; you discover the fact that Bitcoin has six other variants (forks), the amount of politics at hand, or that there are over a thousand different cryptocurrencies just as complex if not even more complex than Bitcoin.
We are currently in the infancy of blockchain technology and the effects of this technology will be as profound as the internet. This isn’t something that’s just going to fade away into history as you may have been led to believe. I believe this is something that will become an integral part of our society, eventually embedded within our technology. If you’re a crypto-newbie, be glad that you're relatively early to the industry. I hope this post will put you on the fast-track to understanding Bitcoin, blockchain, and how a large percentage of cryptocurrencies work.
Altcoin: Short for alternative coin. There are over 1,000 different cryptocurrencies. You’re probably most familiar with Bitcoin. Anything that isn’t Bitcoin is generally referred to as an altcoin.
HODL: Misspelling of hold. Dank meme accidentally started by this dude. Hodlers are much more interested in long term gains rather than playing the risky game of trying timing the market.
TO THE MOON: When a cryptocurrency’s price rapidly increases. A major price spike of over 1,000% can look like it’s blasting off to the moon. Just be sure you’re wearing your seatbelt when it comes crashing down.
FUD: Fear. Uncertainty. Doubt.
FOMO: Fear of missing out.
Bull Run: Financial term used to describe a rising market.
Bear Run: Financial term used to describe a falling market.
What Is Bitcoin?
Bitcoin (BTC) is a decentralized digital currency that uses cryptography to secure and ensure validity of transactions within the network. Hence the name crypto-currency. Decentralization is a key aspect of Bitcoin. There is no CEO of Bitcoin or central authoritative government in control of the currency. The currency is ran and operated by the people, for the people.
Bitcoin is a product of blockchain technology. Blockchain is what allows for the security and decentralization of Bitcoin. To understand Bitcoin and other cryptocurrencies, you must understand to some degree, blockchain. This can get extremely technical the further down the rabbit hole you go, and because this is technically a beginners guide, I’m going to try and simplify to the best of my ability and provide resources for further technical reading.
A Brief History
Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto is unknown. The idea of Bitcoin was first introduced in 2008 when Nakamoto released the Bitcoin white paper – Bitcoin: A Peer-to-Peer Electronic Cash System. Later, in January 2009, Nakamoto announced the Bitcoin software and Bitcoin network officially began.
I should also mention that the smallest unit of a Bitcoin is called a Satoshi. 1 BTC = 100,000,000 Satoshis. When purchasing Bitcoin, you don’t actually need to purchase an entire coin. Bitcoin is divisible, so you can purchase any amount greater than 1 Satoshi (0.00000001 BTC).
What Is Blockchain?
Blockchain is a distributed ledger, a distributed collection of accounts. What is being accounted for depends on the use-case of the cryptocurrency itself. In the case of Bitcoin, what is being accounted for is financial transactions.
The first block in a blockchain is referred to as the genesis block. A block is an aggregate of data. Blocks are also discovered through a process known as mining (more on this later). Each block is cryptographically signed by the previous block in the chain and visualizing this would look something akin to a chain of blocks, hence the term, blockchain.
For more information regarding blockchain I’ve provided more resouces below:
- How Does a Blockchain Work – Simply Explained
- Blockchain 101 – A Visual Demo
- Bitcoin for Beginners – Andreas Antonopoulos
What is Bitcoin Mining
Bitcoin mining is one solution to the double spend problem. Bitcoin mining is how transactions are placed into blocks and added onto the blockchain. This is done to ensure proof of work, where computational power is staked in order to solve what is essentially a puzzle. If you solve the puzzle correctly, you are rewarded Bitcoin in the form of transaction fees, and the predetermined block reward. The Bitcoin given during a block reward is also the only way new Bitcoin can be introduced into the economy. With a halving event occurring roughly every 4 years, it is estimated that the last Bitcoin block will be mined in the year 2,140. (See What is Block Reward below for more info).
Mining is one of those aspects of Bitcoin that can get extremely technical and more complicated the further down the rabbit hole you go. An entire website could be created (and many have) dedicated solely to information regarding Bitcoin mining. The small paragraph above is meant to briefly expose you to the function of mining and the role it plays within the ecosystem. It doesn’t even scratch the surface regarding the topic.
How do you Purchase Bitcoin?
The most popular way to purchase Bitcoin through is through an online exchange where you trade fiat (your national currency) for Bitcoin.
Popular exchanges include:
There’s tons of different exchanges. Just make sure you find one that supports your national currency.
Bitcoin and cryptocurrencies are EXTREMELY volatile. Swings of 30% or more within a few days is not unheard of. Understand that there is always inherent risks with any investment. Cryptocurrencies especially. Only invest what you’re willing to lose.
Transaction & Network Fees
Transacting on the Bitcoin network is not free. Every purchase or transfer of Bitcoin will cost X amount of BTC depending on how congested the network is. These fees are given to miners as apart of the block reward.
Late 2017 when Bitcoin got up to $ 20,000USD, the average network fee was ~$ 50. Currently, at the time of writing this, the average network fee is $ 1.46. This data is available in real-time on BitInfoCharts.
In this new era of money, there is no central bank or government you can go to in need of assistance. This means the responsibility of your money falls 100% into your hands. That being said, the security regarding your cryptocurrency should be impeccable. The anonymity provided by cryptocurrencies alone makes you a valuable target to hackers and scammers. Below I’ve detailed out best practices regarding securing your cryptocurrency.
Two-Factor Authentication (2FA)
Two-factor authentication is a second way of authenticating your identity upon signing in to an account. Most cryptocurrency related software/websites will offer or require some form of 2FA. Upon creation of any crypto-related account find the
Security section and enable 2FA.
The most basic form of 2FA which you are probably most familiar with. This form of authentication sends a text message to your smartphone with a special code that will allow access to your account upon entry. Note that this is not the safest form of 2FA as you may still be vulnerable to what is known as a SIM swap attack. SIM swapping is a social engineering method in which an attacker will call up your phone carrier, impersonating you, in attempt to re-activate your SIM card on his/her device. Once the attacker has access to your SIM card he/she now has access to your text messages which can then be used to access your online accounts. You can prevent this by using an authenticator such as Google Authenticator.
The use of an authenticator is the safest form of 2FA. An authenticator is installed on a seperate device and enabling it requires you input an ever changing six digit code in order to access your account. I recommend using Google Authenticator.
If a website has the option to enable an authenticator, it will give you a QR code and secret key. Use Google Authenticator to scan the QR code. The secret key consists of a random string of numbers and letters. Write this down on a seperate sheet of paper and do not store it on a digital device.
Once Google Authenticator has been enabled, every time you sign into your account, you will have to input a six-digit code that looks similar to this. If you happen to lose or damage the device you have Google Authenticator installed on, you will be locked out of your account UNLESS you have access to the secret key (which you should have written down).
A wallet is what you store Bitcoin and cryptocurrency on. I’ll provide resources on the different type of wallets later but I want to emphasize the use of a hardware wallet (aka cold storage).
Hardware wallets are the safest way of storing cryptocurrency because it allows for your crypto to be kept offline in a physical device. After purchasing crypto via an exchange, I recommend transferring it to cold storage. The most popular hardware wallets include the Ledger Nano S, and Trezor.
Hardware wallets come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key as well as any other sensitive information in a safety deposit box.
I know this all may seem a bit manic, but it is important you take the necessary security precautions in order to ensure the safety & longevity of your cryptocurrency.
Technical Aspects of Bitcoin
- Address: What you send Bitcoin to.
- Wallet: Where you store your Bitcoin
- Max Supply: 21 million
- Block Time: ~10 minutes
- Block Size: 1-2MB
- Block Reward: BTC reward received from mining.
What is a Bitcoin Address?
A Bitcoin address is what you send Bitcoin to. If you want to receive Bitcoin you’d give someone your Bitcoin address. Think of a Bitcoin address as an email address for money.
What is a Bitcoin Wallet?
As the title implies, a Bitcoin wallet is anything that can store Bitcoin. There are many different types of wallets including paper wallets, software wallets and hardware wallets. It is generally advised NOT to keep cryptocurrency on an exchange, as exchanges are prone to hacks (see Mt. Gox hack).
My preferred method of storing cryptocurrency is using a hardware wallet such as the Ledger Nano S or Trezor. These allow you to keep your crypto offline in physical form and as a result, much more safe from hacks. Paper wallets also allow for this but have less functionality in my opinion.
After I make crypto purchases, I transfer it to my Ledger Nano S and keep that in a safe at home. Hardware wallets also come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key in a safety deposit box.
What is Bitcoins Max Supply?
The max supply of Bitcoin is 21 million. The only way new Bitcoins can be introduced into the economy are through block rewards which are given after successfully mining a block (more on this later).
What is Bitcoins Block Time?
The average time in which blocks are created is called block time. For Bitcoin, the block time is ~10 minutes, meaning, 10 minutes is the minimum amount of time it will take for a Bitcoin transaction to be processed. Note that transactions on the Bitcoin network can take much longer depending on how congested the network is. Having to wait a few hours or even a few days in some instances for a transaction to clear is not unheard of.
Other cryptocurrencies will have different block times. For example, Ethereum has a block time of ~15 seconds.
For more information on how block time works, Prabath Siriwardena has a good block post on this subject which can be found here.
What is Bitcoins Block Size?
There is a limit to how large blocks can be. In the early days of Bitcoin, the block size was 36MB, but in 2010 this was reduced to 1MB in order to prevent distributed denial of service attacks (DDoS), spam, and other malicious use on the blockchain. Nowadays, blocks are routinely in excess of 1MB, with the largest to date being somewhere around 2.1MB.
There is much debate amongst the community on whether or not to increase Bitcoin’s block size limit to account for ever-increasing network demand. A larger block size would allow for more transactions to be processed. The con argument to this is that decentralization would be at risk as mining would become more centralized. As a result of this debate, on August 1, 2017, Bitcoin underwent a hard-fork and Bitcoin Cash was created which has a block size limit of 8MB. Note that these are two completely different blockchains and sending Bitcoin to a Bitcoin Cash wallet (or vice versa) will result in a failed transaction.
I’m not going to comment on which blockchain I believe to be better than the other. I’ll let you do your own research and make that decision for yourself. It is good to know that this is a debated topic within the community and example of the politics that manifest within the space. Now if you see community members arguing about this topic, you’ll at least have a bit of background to the issue.
What is Block Reward?
Block reward is the BTC you receive after discovering a block. Blocks are discovered through a process called mining. The only way new BTC can be added to the economy is through block rewards and the block reward is halved every 210,000 blocks (approximately every 4 years). Halving events are done to limit the supply of Bitcoin. At the inception of Bitcoin, the block reward was 50BTC. At the time of writing this, the block reward is 12.5BTC. Halving events will continue to occur until the amount of new Bitcoin introduced into the economy becomes less than 1 Satoshi. This is expected to happen around the year 2,140. All 21 million Bitcoins will have been mined. Once all Bitcoins have been mined, the block reward will only consist of transaction fees.
Technical Aspects Continued
Straight from the Bitcoin.it wiki
Any computer that connects to the Bitcoin network is called a node. Nodes that fully verify all of the rules of Bitcoin are called full nodes.
In other words, full nodes are what verify the Bitcoin blockchain and they play a crucial role in maintaining the decentralized network. Full nodes store the entirety of the blockchain and validate transactions. Anyone can participate in the Bitcoin network and run a full node. Bitcoin.org has information on how to set up a full node. Running a full node also gives you wallet capabilities and the ability to query the blockchain.
For more information on Bitcoin nodes, see Andreas Antonopoulos’s Q&A on the role of nodes.
What is a Fork?
A fork is a divergence in a blockchain. Since Bitcoin is a peer-to-peer network, there’s an overall set of rules (protocol) in which participants within the network must abide by. These rules are put in place to form network consensus. Forks occur when implementations must be made to the blockchain or if there is disagreement amongst the network on how consensus should be achieved.
Soft Fork vs Hard Fork
The difference between soft and hard forks lies in compatibility. Soft forks are backwards compatible, hard forks are not. Think of soft forks as software upgrades to the blockchain, whereas hard forks are a software upgrade that warrant a completely new blockchain.
During a soft fork, miners and nodes upgrade their software to support new consensus rules. Nodes that do not upgrade will still accept the new blockchain.
Examples of Bitcoin soft forks include:
A hard fork can be thought of as the creation of a new blockchain that X percentage of the community decides to migrate too. During a hard fork, miners and nodes upgrade their software to support new consensus rules, Nodes that do not upgrade are invalid and cannot accept the new blockchain.
Examples of Bitcoin hard forks include:
- Bitcoin Cash
- Bitcoin Gold
Note that these are completely different blockchains and independent from the Bitcoin blockchain. If you try to send Bitcoin to one of these blockchains, the transaction will fail.
A Case For Bitcoin in a World of Centralization
Our current financial system is centralized, which means the ledger(s) that operate within this centralized system are subjugated to control, manipulation, fraud, and many other negative aspects that come with this system. There are also pros that come with a centralized system, such as the ability to swiftly make decisions. However, at some point, the cons outweigh the pros, and change is needed. What makes Bitcoin so special as opposed to our current financial system is that Bitcoin allows for the decentralized transfer of money. Not one person owns the Bitcoin network, everybody does. Not one person controls Bitcoin, everybody does. A decentralized system in theory removes much of the baggage that comes with a centralized system. Not to say the Bitcoin network doesn’t have its problems (wink wink it does), and there’s much debate amongst the community as to how to go about solving these issues. But even tiny steps are significant steps in the world of blockchain, and I believe Bitcoin will ultimately help to democratize our financial system, whether or not you believe it is here to stay for good.
Well that was a lot of words… Anyways I hope this guide was beneficial, especially to you crypto newbies out there. You may have come into this realm not expecting there to be an abundance of information to learn about. I know I didn’t. Bitcoin is only the tip of the iceberg, but now that you have a fundamental understanding of Bitcoin, learning about other cryptocurrencies such as Litecoin, and Ethereum will come more naturally.
Feel free to ask questions below! I’m sure either the community or myself would be happy to answer your questions.
Thanks for reading!
This is an updated and revised version of "The Merchants Guide to BTCPay" I posted a few weeks back. After using BTCPay for 2 months in my store and actively being involved in the community on Slack, my understanding of its technical aspects and the importance of such project have greatly improved. Due to recent events of payment processors cutting off the stores for no reason like WikiLeaks the self-sovereignty of the merchants is becoming critical.
This updated guide assumes you’re a merchant who already understands the benefits and the risks of accepting Bitcoin. It's not technical at all. The goal to explain plainly what is BTCPay, how it works and cover advantages and disadvantages. The idea behind the guide is to inform both merchants and general public about the project and motivate them to try it out and support it.
The official BTCPay documentation is available here.
What is BTCPay?
BTCPay Server is an Open Source payment processor, written in C#, that conforms to the invoice API of Bitpay. This allows easy migration of your code base to your own, self-hosted payment processor. source.
To simplify the definition, BTCPay allows merchants to be their own bank, receive payments in Bitcoin, Litecoin, Doge and plenty other cryptocurrencies without the third party. BTCPay allows merchants to run their own node (or connect to someone else's node by using the hosts) and receive payments directly, P2P, with no fees, no intermediary, no censorship whle providing better privacy over their customers financial and private data. (PayPal shares data with over 600 companies )
The developer behind the open-source project is Nicolas Dorier, Bitcoin Core contributor. /u/NicolasDorier decided to fork the BitPay processor and create a different solution. His approach is very logical and works just like Bitcoin was supposed to work, peer to peer with no third party. You are your own bank; you control your funds, the payment processor can't just shut you down for political reasons or just because they do not like your business model. The project gathered a decent and very active community. u/codeoverwhelming is also a rock-star contributor to the project.
How BTCPay works? BTCPay on the back-end work just like any other payment processor. The customer adds item to cart, selects “Pay with Bitcoin”, chooses the cryptocurrency they wish to pay in, or convert (BTCPay currently supports over 40 cryptocurrencies through ShapeShift/Changelly conversion).
The important elements of BTCPay are :
- The server
- The plugin
- The wallet
You’re running your own server which runs the full node; the server is called BTCPay. Once installed it will be connected to your website's subdomain. To simplify this even further, you'll have a separate mini site btcpay.yourdomain.com where you will be able to check the invoices, manage your wallet, configure your store and much more. If you wish you can use this mini-website as a payment processor and help other smaller stores accept crypto for free or charge for the support. This does not mean you’ll have to check the invoices on the server, all basic information is available through your Woocommerce store and your order processing routine will not change in any way.
Though there are so many features you can configure, I'd like to mention the Apps.The apps will allow merchants at a later point to implement different type of features like : payment forwarders, ifttt integration, etc. The first app released is POS app which allows merchants to use BTCPay as a point of sale terminal and create invoices for their customers.
The plugin connects your server to your Woocommerce Store. It is a bridge to your store and your node. In the plugin settings, you can configure important options. A bit more advanced configurations can be adjusted on the server. The plugin helps you manage your store. It will automatically mark your orders as "processed" or any other status you've set. It will mark expired invoices as canceled, etc. If you're familiar with Woocommerce, let me tell you that there is no difference between the ease of order management between this and any other payment method in Woo. Our store is configured this way. Buyer selects "Pay with Bitcoin" at the checkout. The status of the order is awaiting payment. We set that after 6 confirmations order status changes to processing, at which point we know that the order is fully paid, which you can see in your wallet as well.
Your receive payments to your wallet (it’s possible to configure Ledger Nano S hardware wallet or Electrum right out of the box). You need to set your derivation path. This is what will generate different public address for your customer to pay. Each new invoice will have a different address, which increases the privacy greatly. At no point will you need to reveal the private keys during the setup..
This means that the buyer, pays directly to you in cryptocurrency and that the payment does not go anywhere else, the IP address is not leaked, the buyer data is not shared with a third party in any way. You will see the payment in your Bitcoin wallet. Electrum OR Ledger Nano S wallet integration to btcpay is needed.
BTCPay is not the only solution to accept cryptocurrency directly, but after months of trying out, I found it the safest, the most active, customizable and the easiest to set up. It just works.
Difference between BTCPay and third-party payment processors
Think of BTCPay as a server which allows you to accept bitcoin without intermediaries. You are your own payment processor. The payment processors act as a server as well, but your customer's data, IP addresses go through them. Furthermore, most of the payment processors hold your crypto payments, and you’d have to withdraw it or convert it, similar to what exchanges do. The last but not the least, third-party processors charge fees on your transactions.
- You are running a full node and helping the network
- You are protecting the privacy of your customers
- You’re using Bitcoin the way it’s supposed to be used, p2p, directly
- You’re avoiding fees that all payment processors have (monthly subscription/fees per transaction usually 1-5%)
- You can accept payments directly to your wallet, including the hardware wallet (currently integrated with Ledger Nano S well) and you’re the immediate owner of those assets
- You can be a host and help other smaller shops accept payments through their stores
- You can accept other cryptocurrencies through BTCPay directly(Litecoin) and over 40 currencies if you enable the ShapeShift integration
- You can accept Lightning Network payments on the Mainnet easily
- Multiple merchants can have the same server and host their stores together to save the cost (however only the main admin has access to the integrated lightning node)
- Hosting such server costs around 20-60$ per month (the cost varies depending on the server you’re using, with the Azure, you can cut down the cost to little over $ 20). My cost for the previous month was 57$ .
- It takes a bit more time to setup and configure to fit your store needs, (took 3-4 hours for myself, I’m not particularly tech-savvy).
- You can not convert to fiat currency right away like with some payment processors, though in my personal opinion, the immediate conversion ruins the whole point of accepting bitcoin and does not increase the adoption. The fiat conversion is coming very soon on BTCPay and merchants will be able to immediately convert the whole amount or partial to their local fiat currency through the exchange.
- Shopify integration is unavailable (being developed)
- PrestaShop integration is unavailable (being developed)
The entire documentation is available on the Github. There are several videos on YouTube which will help the newbies out which guide you step by step how to set the BTCPay up.
Important note :
- BTCPay is in no way limited to Azure deployment
- Azure only provides the newbie-friendly solution with 1 click deployment.
Summary of this step is that you have to register with Microsoft Azure server. Upon registration, you'll get 200$ free credits which will be enough for the first few months of running the server, so basically, there are no upfront costs. Be aware that BTCPay is free; it does not cost a dime, you're paying Microsoft here for the server which will keep your node online 24/7. As mentioned, you can use other solutions (Docker).
After you register for the server, there is a single one-click deploy button you have to click. It will take you to your Azure VM and configure everything for you. There are a few things you have to change yourself. Besides documentation, Nicolas made an easy to follow video for this.
The next step is to connect your domain and your server, which is again very easy to follow up in the videos and documents.
The third step is to connect your Woocommerce store by installing the Woo plugin (plugin is free).
The final step is to configure your (hardware) wallet and set the derivation path. I was amazed that Ledger configuration took only a few seconds. Nicolas did a great job with this one.
When you set up your store, it is highly recommended to test it out. Post any issues that you might find on the Github and if you have any questions, feel free to ask on Slack.
It's highly recommended that you first watch the following YouTube videos which will help you visualise the process much easier.
Before I answer some of the questions I got from merchants, I'd like to tell that if you're a merchant and have any question, feel free to ask it here. If you're having trouble setting up your BTCPay server, join the community on Slack . There are developers and merchants there ready to help you.
Q: Where can I see the example of how BTCPay works and looks?
A: BTCPay website and if you want to see it live you can check the list of stores using it.
Q: Where can I get help/support?
A: BTCPay is an open-source project. The best way to ask questions is through the Slack group.
Q: Can the costs of running BTCPay be cheaper?
A: Yes they can. Currently, the one-click deployment requires Azure Virtual Machine, but if you’re a programmer or understand VM’s you can deploy one on a different VM. UPDATE: It's now possible to run BTCPay server with 50% decrease by using this method
Q: I have a Shopify store, can I use BTCPay?
A: At this moment, no. Shopify is a closed system a company opposed to an open-source project like WordPress, so it’s harder to communicate to them and create a solution. Luckily there are developers in BTCPay community working on it. While I can’t give you precise information, I assume it will eventually be possible.
Q: Can I have more stores connected to my BTCPay server.
A: Absolutely, you can host multiple stores on the same server. The stores can operate and configure settings separately and receive payments separately.
Q: Why use BTCPay vs. just having a BTC address up on your site?
A: The most important reason – the privacy of your customers and your business. BTCPay will generate the new address for each invoice. You just need to select the derivation path for the address (I used Ledger Nano S). The second reason is user-experience. BTCPay integrates as a payment method to your store, so your customers can checkout with a few clicks.
List of merchants using BTCPay
Note: If you're a merchant accepting BTCPay and would like to be listed here, just comment. The list is in alphabetical order.
List of third-party BTCPay hosts
- BTCPay Mainnet Test Website
- BTCPay Server Test page – feel free to connect your store and test it out
- BTCPay Slack
- BTCPay Github
- BTCPay on Twitter
- BTCPay on YouTube
Full disclosure, I am not in any way related to BTCPay project. I am not a developer nor a contributor. I am just the guy who discovered it and fell in love with the community and the good vibes among the users. I wrote this post to help merchants understand it better and to help with promoting this exceptional project. Since I have no skills to contribute by coding, I thought I could help this way.
Following users helped me improve this guide :
- u/NicolasDorier – provided more accurate technical explanation
- u/sg77 – helped with typos and grammar
I intend to keep this guide and FAQ up to date. If you notice any spelling errors or have suggestions to improve it, please feel free to let me know.
This post is long and might not be attractive to many people except for the merchants, but please upvote it for the visibility so that we can spread the word. BTCPay is an open-source project, and they accept the donations if you can please support it.
“The price of Bitcoin is worth watching,” Morgan Stanley analysts including Michael Wilson wrote in a report Monday. “While we do not expect this relationship to continue to hold so tightly we do think it will be hard for price-to-earnings to move significantly higher or lower without a commensurate move in …
Google Alert – bitcoin
Digital currencies, such as bitcoin, have dominated headlines recently in almost every sector thanks to the blockchain's disruptive implications, particularly for industries that can benefit from decentralized processes and improved security. The Forbes 50 Fintech 2018 list released last week highlights a …
Google Alert – bitcoin
Bitcoin is a digital currency. Like other currencies, you can use it to buy things from merchants that accept it, such as Overstock.com, or, as is more often the case, hold on to it in hopes that it will increase in value. Unlike traditional currencies, which rely on governments and central banks, no single entity …
Google Alert – bitcoin
There has been a lot of drama around Bitcoin and cryptocurrency in the last year, with its recent rise and seemingly fatal fall making headlines in the months of late. Is hope truly lost for Bitcoin and its proponents? Maybe not. In order to better understand the specifics—What is Bitcoin? How is it useful?
Google Alert – bitcoin