What is Bitcoin?
Bitcoin is the first decentralized cryptocoin ever built on top of a blockchain. It was created by an anonymous person or group of people with the nickname Satoshi Nakamoto in 2009 as an open source project. To understand the Bitcoin blockchain we can imagine a book, where each page number contains a signature that can validate the content of that page and its previous one. This signature is computed by an algorithm known as SHA-256 and cannot be reversed. In other words we can calculate the A-256 signature from some content, but we can’t get content if we know its SHA-256 signature. Back to the example with the book: if we tear out a page from the book, we can easily understand that a page is missing. The same is with adding an inexistent page. All the pages are copied between members of the chain, and this is why the Bitcoin Blockchain is considered a distributed network. Bitcoin is an open source project maintained by a developer team with over 580 active contributors. The code of the chain is available on Github. The main purpose of Bitcoin was decentralized but trusted, low fee money transactions between people and businesses around the world. Nowadays over 100.000 vendors accept Bitcoin for payments. And there are between 2.9 and 5.8 million unique users who actively use Bitcoin cryptocurrency wallets. The price of Bitcoin can be very volatile due to speculation and has changed in the past more than +/-20% during a single.
- Historical Data
* Currency in USD
Historical Price for Bitcoin
- Peak fear? Bitcoin futures leverage gets reset by this week's wild price swingsCointelegraph.com News – 10 hours agoBitcoin futures leverage is dropping steeply, indicating that traders are fearful or uncertain about the BTC price trend. The leverage used in the Bitcoin (BTC)…
- Bitcoin has become nothing but the new Che Guevara T-shirtCointelegraph.com News – 13 hours agoBitcoin promised to create a new normal in finance, but it turned out to be nothing but the old normal with a new face. The…
- China turns up pace on CBDC release, tests infrastructure prior to adoptionCointelegraph.com News – 16 hours agoThe yuan is not seen as a major currency. Could digitizing it change that? China is breaking new ground in the Shenzhen region and beyond.…
- Bitcoin bulls buy BTC’s $35K support retest as altcoins push higherCointelegraph.com News – 1 day agoBitcoin’s lower support retest was bought up by bulls, preparing BTC for another push to $40,000. Calls for Bitcoin (BTC) to rally above $40,000 were…
- GBTC has a new a competitor in the OTC Bitcoin trust marketCointelegraph.com News – 1 day agoAnother way to buy Bitcoin in stock form has surfaced. A firm called Osprey Funds is offering an over-the-counter, or OTC, Bitcoin (BTC) trust under…