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Bitcoin (BTC) - The First Cryptocurrency operating on peer-to-peer technology

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  • Bitcoin (BTC) - The First Cryptocurrency operating on peer-to-peer technology


    BITCOIN (BTC)

    Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority or banks.

    Transaction management and money issuance are carried out collectively by the network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work.

    Bitcoin is open-source, its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.


    Some of the benefits include
    • Protection against fraud; Bitcoin transactions are irreversible
    • Fast International Payments; No intermediary to delay the transactions
    • Secured and Control over Your Money; Just secure your Private Keys
    • Protect Your Identity
    • Bitcoin never sleeps, even on Holidays!
    Who Created Bitcoin

    The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.


    Community

    Google + - https://plus.google.com/communities/...68588047305300

    Forum - https://bitcointalk.org/
    https://forum.bitcoin.com/

    Bitcoin Q&A - https://bitcoin.stackexchange.com/

    Facebook - https://www.facebook.com/bitcoins

    Twitter - https://twitter.com/search?q=bitcoin

    Reddit - https://www.reddit.com/r/Bitcoin/

    News - https://cointelegraph.com/
    https://www.coindesk.com/

    Resources


    Github - https://github.com/bitcoin/bitcoin

    Wallet - https://bitcoin.org/en/choose-your-wallet

    Block Explorer - https://blockchain.info/

    Market Capitalisation and Charts


    Coinmarketcap - https://coinmarketcap.com/currencies/bitcoin/

    Specifications

    Ticker - BTC

    Algorithm - SHA-256 Proof of Work

    Max Supply – 21,000,000 (21 Million)

    Block Reward Halving - The Bitcoin block mining reward halves every 210,000 blocks

    Block Reward – Original 50BTC per Block; Current 12.5BTC per Block

    Target Block Time – 10Minutes


    Some of the exchanges in which coin is traded are below.

    Binance

    Bittrex

    Bitfinex

    Livecoin

    The complete list can be found from here

    Bitcoin (BTC) Markets
    Last edited by camohitmishra; 01-12-2018, 05:19 AM.

  • #2
    How bitcoin plans to scale:
    • Bech32 update
      On reddit https://www.reddit.com/r/Bitcoin/com...7i&sh=f58a5427
      It is revealed core is putting full segwit gui and bech32 address.
      What is bech 32 address and the difference between segwit address. Their kinda like the same thing.
      Expect bech32 does not have to use segwit but it can be used with segwit and use less bytes.
      As stated=
      "those segwit addresses started with 3 is legacy, adhoc version. The new one started with bc1 is the new one that makes tx fee lowest as it uses less byte.
      bech32 uses segwit transactions and uses even less bytes vs segwit 3 ending address"
      Are they reverse compatibility aka can i send regular addresses to bech32?
      Yes, but as stated on reddit=
      Fundamentally they are reverse compatible, but some older wallets might not acknowledge that bech32 format is an actual Bitcoin address because it doesn't pass the traditional checksums. That's why some exchanges don't let you withdraw to bech32 addresses yet. Basically when core releases to main official client it will be ready for all.
      But if you can get less fees using bech 32 segwit why use a regular one.
      How will our address get converted to bc1 address for trezor wallet or tezor like wallets?
      As stated by Bashco, "If you used Trezor before the Segwit upgrade, you might have noticed that after the upgrade you were shown a standard Segwit wallet, as well as a Legacy wallet. Ideally, your Segwit wallet will become a Legacy wallet, and Trezor will show you a new standard Bech32 wallet. In theory you would be able to spend from your legacy wallet, while change and new receiving tx would go to your Bech32 wallet. You won't need a new seed or anything like that, and you won't need to migrate all your funds at once unless you want to".
    • Basically if you skimmed through this =
      Bech32 is a better address format that is natively segwit enabled. It's made to be easier to type for humans and easier to identify. It also saves space in blocks by being more compact than currently used segwit addresses. Why not use it? IDK
    Last edited by ahsanulkhan; 01-11-2018, 09:13 PM.

    Comment


    • #3
      The main scaling solution for bitcoin is the lightning network!
      Here how it works:
      It is now possible to use LN:
      https://steemit.com/bitcoin/@sames/y...now-to-buy-vpn

      Comment


      • #4
        camohitmishra By the way please remove bitcoinexplorer.com from the lisr!
        It want to make bitcoin cash into bitcoin. Proof: https://blockexplorer.com/news/block...itcoin-legacy/
        And maybe a bitcoin picture at top? It would look good

        Comment


        • camohitmishra
          camohitmishra commented
          Editing a comment
          Ok, thanks I'l edit it.

      • #5
        Many of us here hold a lot of adzcoins. If the price rises like we think it will, many of us will be exchanging some to bitcoin and then to our bank accounts. I'm wondering which would be the best exchange for withdrawing bitcoin to US bank account. I see people continue to complain about Coinbase and Gemini. Are there some better options?
        $$$ Use this untapped social platform to build your referral base $$$

        Comment


        • ahsanulkhan
          ahsanulkhan commented
          Editing a comment
          bitflyer is an us exchange as well

      • #6
        Originally posted by dollarbill View Post
        Many of us here hold a lot of adzcoins. If the price rises like we think it will, many of us will be exchanging some to bitcoin and then to our bank accounts. I'm wondering which would be the best exchange for withdrawing bitcoin to US bank account. I see people continue to complain about Coinbase and Gemini. Are there some better options?
        In sometime many coins will be added to ADZbuzz exchange. So, it will not be required to withdraw in BTC if one does not want. However, if the purpose is just to withdraw BTC, sell it and withdraw Fiat back to bank then I don't think BTC is bad. I support it anyways and believe it will increase in value. It may not be better as a way of sending money (comparing to other alternatives which we now have) but it still is a good investment in my opinion.

        Ofcourse all investments come with a risk. So don't take anyone's word as it is and always and always do your own research first,

        Comment


        • #7
          Originally posted by dollarbill View Post
          Many of us here hold a lot of adzcoins. If the price rises like we think it will, many of us will be exchanging some to bitcoin and then to our bank accounts. I'm wondering which would be the best exchange for withdrawing bitcoin to US bank account. I see people continue to complain about Coinbase and Gemini. Are there some better options?
          I actually prefer localbitcoins. Never had a problem with them and I think they are one of the best in the world.

          Oh and I forgot to mention, they are worldwide

          Comment


          • #8
            Update on South Korea issue with Bitcoin exchanges:

            https://cointelegraph.com/news/offic...overnment-says
            Welcome To The ADZbuzz Project!

            Become A Gold Member Today

            Comment


            • #9
              I just hope Bittylicious adds ADZcoin again, they probably would when the demand kicks in. But then I would just use that platform to sell ADZ for GBP straight into my bank. I really do not want to have to sell my ADZ into BTC then into fiat.

              I don't have a lot of confidence in BTC the higher it gets in value the more riskier it is in my opinion. Because there is no real value behind it, and people who are saying it is a store of value really do not know what a store of value actually is.

              So I would love to skip BTC altogether and just exchange my ADZ straight into fiat
              Last edited by mb001589; 01-13-2018, 12:22 PM.

              Comment


              • #10
                bitcoin using lightning network vs visa.
                Click image for larger version

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