Keeping Up With The Bitcoin

Bitcoin is a cyber currency that has attracted a lot of media attention over the past few years, and continues to do so. Bitcoin was founded in 2009 by an anonymous group or individual, using the pseudonym Satoshi Nakamoto, after whom the smallest unit of the Bitcoin currency is named. It is the first and arguably the most popular cryptocurrency. Originally of interest only to the Internet elite, Bitcoin has gained wider appeal in recent years and commands respect in its own right over foreign currency.

How does Bitcoin work?

The finer details of how Bitcoin works can be difficult to understand, as it is not centrally controlled like traditional currency, but instead each transaction is approved collectively by a network of users. . There are no coins and notes, no billions in the wallet, but the supply of Bitcoin is limited, it will stop at 21 million. Every 10 minutes, Bitcoin “miners” receive 25 Bitcoins, and every 4 years the number of Bitcoins released…

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