Bitcoin is a cyber currency that has attracted a lot of media attention over the last two years and continues to do so. Bitcoin was created by a group or anonymous person in 2009, who used the pseudonym Satoshi Nakamoto, with the name of the smallest unit of Bitcoin currency. It is the first and arguably the best known cryptocurrency. Originally only interested in the Internet elite, Bitcoin has gained a wider appeal in recent years and imposes respect for itself on the currency.
How does Bitcoin work?
The more detailed details about how Bitcoin works can be difficult to understand, as it is not under central control like a conventional currency, but each transaction is collectively approved by a network of users. There are no coins or banknotes or bullion stored in one go, but the Bitcoin offer is finite, it will stop at 21 million. Every 10 minutes, Bitcoin “miners” find 25 bitcoins and every 4 years the number of bitcoins released will be halved until the limit is reached. This means that there will be no more Bitcoins launching after 2140.
Why do I need news about Bitcoin?
Historically, the price has been very volatile, with significant peaks and falls at intervals. Recently, the price of a Bitcoin increased more than tenfold in just two months: in 2013 several million Bitcoin were manufactured overnight when the value of its Bitcoin portfolios increased dramatically. If you already have some bitcoins in your digital wallet or are thinking of dipping a finger in the water, you really should keep up with Bitcoin News. Bitcoin trading is an increasingly popular alternative or complement to conventional currency trading and is growing in support as more brokers take the plunge.
Despite the gradual drop in the discovery rate of Bitcoin, interest in news about Bitcoin continues. There is a real and constant demand for reliable and up-to-date information on its value. Recently, Bitcoin received a strong endorsement from PayPal that will no doubt bolster confidence in its credibility as a reliable alternative to conventional bank or cash card transactions on the Internet and on the street. This could help appease Bitcoin critics, who claim that the system used to approve or validate transactions, called Blockchain, is insecure and vulnerable to hacker attacks.