From Bitcoin Wiki This is the approved revision of this page; it is not the most recent. View the most recent revision. This is an independent project that exists thanks to the active participation of the Bitcoin community. Become one of us by contributing to the development of the resource or making a donation. In cryptocurrency we trust ! Bitcoin is a decentralized electronic cryptocurrency created in 2008 by Satoshi Nakamoto. The word “decentralized” means that Bitcoin has no central servers for transaction processing or storage of funds. Emission of Bitcoins is limited as it cannot exceed 21 million Bitcoins.
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According to calculations Bitcoin production will end in 2140 . Bitcoin transactions and its emission are regulated by an extensive peer-to-peer network. Bitcoin uses a distributed public universal database spread through a decentralized peer-to-peer network that uses digital signatures and is supported by a proof-of-work protocol to ensure security and legitimacy of funds inBitcoin[note 5] is a payment system invented by Satoshi Nakamoto,[note 6] who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary.:4 Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin.[note 7] The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed.[note 8] Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is calledBitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. 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 paymentBitcoin 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: transaction management and money issuance are carried out collectively by the network. The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. Most client software, derived or from scratch , also use open source licensing. Bitcoin is the first successful implementation of a distributed crypto-currency, described in part in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities. The supply of bitcoins is regulated by software and the agreement of users ofBitcoin version 0.4.0-beta OS version Linux 2.6.38-11-generic x86_64 System default language is 66 en_DK.UTF-8 Language file locale/en_DK/LC_MESSAGES/bitcoin.mo (English (Denmark)) Default data directory /home/rune/.bitcoin Bound to port 8333 Loading addresses. dbenv.open strLogDir=/home/rune/.bitcoin/databaseA purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer 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. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPUBitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to . Created with the mission to standardize, protect and promote Bitcoin. Offers information about the foundation, the board, its governance; and how to become a member. Coinsetter is a NYC-based forex trading platform for Bitcoin. Built by Wall Street pros, we offer outstanding performance and the best prices in the market. The main Bitcoin discussion forum, includes subforums for technical support, mining, development and economics.
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General What is Bitcoin? Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer . business.time.com/2013/04/12/the-real-significance-of-the-bitcoin.
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Apr 12, 2013 ·.