Bitcoin is a cyber currency that has attracted a lot of media attention over the last couple of years and continues to do so. Bitcoin was created by an anonymous group or individual in 2009 that used the pseudonym Satoshi Nakamoto, after whom the smallest unit of bitcoin currency is named. This is the first and perhaps the most famous cryptocurrency. Initially interesting only to the Internet elite, in recent years bitcoin has become more attractive and commands respect for foreign exchange.
How does bitcoin work?
The finer details of how bitcoin works can be difficult to understand because it is not centrally controlled like a regular currency, but instead each transaction is approved by a network of users. There are no coins or banknotes in the vault, no bullion, but the supply of bitcoins is limited, they will stop at 21 million. Every 10 minutes, bitcoin “earners” find 25 bitcoins, and every 4 years the number of bitcoins issued is halved until the limit is reached. This means that there will be no further issuance of bitcoins after 2140.
Why do I need bitcoin news?
Historically, the price has been very volatile, with significant peaks and troughs with periodicity. Recently, the price of bitcoin has jumped more than 10 times in two months. In 2013, several bitcoin millionaires were produced overnight when the value of their wallets in bitcoins rose sharply. If you already have a few bitcoins in your digital wallet or are thinking of dipping your finger in the water, then you really need to keep up with Bitcoin news. Bitcoin trading is an increasingly popular alternative to or in addition to conventional foreign exchange trading and is growing in support as more brokers make the move.
Despite the gradual decline in the rate of opening bitcoins, interest in news about bitcoin continues. There is a real and constant demand for accurate, reliable information about its value. Recently, bitcoin has received strong support from PayPal, which will certainly strengthen confidence in its credibility as a reliable alternative to conventional transactions with bank cards or cash online and on the high street. This may somehow reassure critics of bitcoin, who argue that the system used to approve or verify transactions is called Blockchain, and is dangerous and vulnerable to hacker attacks.