AP Explains: What is bitcoin? A look at the digital currency

AP Explains: What is bitcoin? A look at the digital currency - ABC News

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    ———

    HOW BITCOINS WORK

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

  • However, investigators might be able to track down the owners when bitcoins are converted to regular currency.
  • The currency has become popular enough that more than 300,000 daily transactions have been occurring recently, according to bitcoin wallet site blockchain.info.
  • A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.

AP Explains: What is bitcoin? A look at the digital currency
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

AP Explains: What Is Bitcoin? A Look at the Digital Currency

AP Explains: What Is #bitcoin? A Look at the Digital Currency

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It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
Continue reading “AP Explains: What Is Bitcoin? A Look at the Digital Currency”

AP Explains: What is bitcoin? A look at the digital currency

  • It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • (AP Photo/Mark Lennihan, File)

    NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

AP Explains: What is bitcoin? A look at the digital currency

AP Explains: What is #bitcoin? A look at the digital currency #cryptocurrency #investing

  • It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • (AP Photo/Mark Lennihan, File)

    NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

NEW YORK (AP) — It’s worth more than an ounce of gold right now, it’s completely digital and it’s the currency of choice for the cyberattackers who crippled computer networks around the world in recent days.
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

AP Explains: What is bitcoin? A look at the digital currency

AP Explains: What is #Bitcoin? A look at the digital currency

  • Bitcoin has a fuzzy history, but it’s a type of currency that allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
  • Here’s a brief look at bitcoin:

    ———

    HOW BITCOINS WORK

    Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously.

  • The currency has become popular enough that more than 300,000 daily transactions have been occurring recently, according to bitcoin wallet site blockchain.info.
  • A network of tech-savvy users called miners keep the system honest by pouring their computing power into a blockchain, a global running tally of every bitcoin transaction.
  • An Australian entrepreneur last year stepped forward and claimed to be the founder of bitcoin, only to say days later that he did not “have the courage” to publish proof that he is.

AP Explains: What is bitcoin? A look at the digital currency
Continue reading “AP Explains: What is bitcoin? A look at the digital currency”

The battle over the future of bitcoin

Short video animation from @guardian is a good introduction to #cryptocurrency & #Blockchain

  • Maxwell and his team have a business interest in blocks staying small, because more people would need side chains.
  • Bitcoin’s mainstream popularity has grown in fits and starts in recent years.
  • Smith, Wright and some other key bitcoin developers want the blocks to be larger so more transactions can clear at the same time.
  • Unlike Visa, bitcoin doesn’t have a central clearinghouse to process all transactions.
  • Fans of bitcoin say the system, which tends to be a pet project of encryption wonks, could eventually rival Visa.

Read the full article, click here.


@Russler_78: “Short video animation from @guardian is a good introduction to #cryptocurrency & #Blockchain”


Billed as the future of democratized, digital money, the currency is now at the center of a conflict over how to develop technologies behind the system


The battle over the future of bitcoin

Why Corporations Love Ethereum

  • A fork was needed to heal from the attack.
  • All the creator-driven handholding is quite alien in mercenary crypto-libertarian land, but it may be exactly what the corporations on the sidelines need to see, especially as the stakes and the use cases for blockchain tech get larger over time.
  • Bitcoin had many problems in its first couple years that required correction or tweaking.
  • And this is where the corporations find Ethereum attractive.
  • A serious bug in ethereum itself is sufficient to warrant a fork,” he recently posted on reddit.

Read the full article, click here.


@OliverMCarding: “Nice post by @d_seaman : Why Corporations love #Ethereum”


Ethereum, the world’s second most valuable cryptocurrency network after Bitcoin, recently fell victim to a sophisticated hack within one of its third par…


Why Corporations Love Ethereum

Why Corporations Love Ethereum

Why Corporations Love #ethereum #ethereum,corporations,bitcoin,cryptocurrency,fintech

  • A fork was needed to heal from the attack.
  • All the creator-driven handholding is quite alien in mercenary crypto-libertarian land, but it may be exactly what the corporations on the sidelines need to see, especially as the stakes and the use cases for blockchain tech get larger over time.
  • Bitcoin had many problems in its first couple years that required correction or tweaking.
  • And this is where the corporations find Ethereum attractive.
  • A serious bug in ethereum itself is sufficient to warrant a fork,” he recently posted on reddit.

Read the full article, click here.


@bitcoinagile: “Why Corporations Love #ethereum #ethereum,corporations,bitcoin,cryptocurrency,fintech”


Ethereum, the world’s second most valuable cryptocurrency network after Bitcoin, recently fell victim to a sophisticated hack within one of its third par…


Why Corporations Love Ethereum

The battle over the future of bitcoin

The battle over the future of bitcoin  via @guardian by @dannyyadron #FutureOfTechnology

  • Maxwell and his team have a business interest in blocks staying small, because more people would need side chains.
  • Bitcoin’s mainstream popularity has grown in fits and starts in recent years.
  • Smith, Wright and some other key bitcoin developers want the blocks to be larger so more transactions can clear at the same time.
  • Unlike Visa, bitcoin doesn’t have a central clearinghouse to process all transactions.
  • Fans of bitcoin say the system, which tends to be a pet project of encryption wonks, could eventually rival Visa.

Read the full article, click here.


@WiproLPS: “The battle over the future of bitcoin via @guardian by @dannyyadron #FutureOfTechnology”


Billed as the future of democratized, digital money, the currency is now at the center of a conflict over how to develop technologies behind the system


The battle over the future of bitcoin