Dell\'s New App Will Show Calls And Texts From Your Android And iOS To Computers
A Malware Is Attacking Uber App To Acquire User\'s Login Details
Clean Your Phones With The Best Junk Cleaning And Android Optimizer App
Apple\'s Siri Is No Competition For Amazon\'s Alexa, Proven At CES 2018
The Best of 2017 Biggest Tech Stories
How AR and VR Will Reinvent The Food Industry
Mark Zuckerberg Announces A Big Change In Facebook\'s News Feed
Story Of Snapchat So Far, When Snapchat Stories Stopped Working For It
Facebook Is Ready To Launch Portal, An Echo Show Competitor At $499
Treasure Hunting App Seek To Become Hub For Augmented Reality Projects
Amazon’s Jump to Virtual Reality for Building AR VR & 3D Apps
Augmented Reality For Real Estate Apps Will Redefine The Home Buying Experience
Why VR Has Still Not Got The Due Credit
Diagnosis of Stroke Symptoms Becomes Easier With Think F.A.S.T, a VR App
Bigscreen: The Social VR App Just Hit $11 Million Fund Raise
US Navy Is Investing In AI - Powered Network To Safeguard Submarine
Here\'s How Artificial Intelligence is Changing The Face of IT
Tacotron, Google AI Can Mimic Your Voice
Robinhood - Free Stock Trading
Udacity - Lifelong Learning
iPhone X iLauncher - Simple. Lightly. Fast.
Inshorts - News in 60 words
What Elements to Keep in Mind When Developing Bug Free Apps
Give Your App An Extra Push With 8 Best Mobile App Development Programming Languages
Are you developing an App? Avoid these Mobile App Development Mistakes at all costs
Social Media Marketing Strategies For Your App Promotion
Don\'t Forget to Keep Check on These Top App Analytics Metrics of Your App
10 Proven Ways to Improve Ratings on Apple App Store
Top 5 Mobile App Design Trends Expected in 2018
Google Testing New Play Store UI
The Finalists - Innovation By Design Awards 2017 in Mobile App Genre
Bitcoin Insights: Should Bitcoin Be Given A Day To Appreciate Its Worth? - What importance does 3rd January holds in the history of bitcoin?
Bitcoin's Real Worth Might Be $0 Warns Morgan Stanley - The real price of Bitcoin could be zero as per Morgan Stanley reports
Coinbase Discontinued Bitcoin Cash Trading After Exchange Launch - Coinbase halts support to trade in bitcoin
I Am Not A Bitcoin Fan, Says Alibaba Founder Jack Ma - Bitcoin is not for me: Says Alibaba Founder Jack Ma
Apps World Evolution 2018
The AI Summit London
Internet of Things World 2018
F8 2018 - Facebook Developer Conference
Vijay Balasubramaniyan: The journey of a Visionary
Join Gillian Morris on Her Adventurous Journey to Making TIME Awardee Hitlist app
Ed Cooke shares His Secrets To Superhuman Learning Skills With His App Memerise
How Two Young Entrepreneurs Build The Most Powerful Education Tool After Meeting at a Gathering
Neutrogena Is Launching A Skin Scanning Gadget That Can Be Used With iPhone - Now, this iPhone scanner will tell you how to improve your skin
Tidal Jumps To Big Screen W/ Apps For Apple TV & Android - Tidal launches TV Apps, allowed Apple & Android to stream services
Fyusion Bags Millions From Global Venture Capital Firms For Its 3D Vision Technologies - Fyuse app has managed to gather more than $22 million from the global venture capital firms for bringing 3D vision technologies
Health Alert: Weight Loss Resolution With The 10 Best Fitness Apps
Featured: The Top 8 Valentine\'s Day Apps for Android
Praise The Lord With 10 Best Bible Apps for Android and iPhone Devices
Here\'s How To NOT Struggle With The New Gestures On iPhone X
Mobile App Developers’ Cup of Tea: Know How To Deal With Biggest App Development Challenges
How to Protect Your Privacy on Your Smart Phone
Blockchain 2nd January, 2018 Neha Baluni
Bitcoin needs no mention today. Being a type of cryptocurrency, this virtual currency has impressed every single investor with the worth it holds. From nothing to becoming the most valued virtual currency, bitcoin has traveled those extra miles to get everyone’s attention. To the investors, bitcoin has offered massive gains and continues to be an asset to them.
It’s all because of Satoshi Nakamoto that we know about this super impressive cryptocurrency. The pseudonym belongs to the man who discovered bitcoin. Bitcoin was implemented with a structured database called blockchain. Over the course of bitcoin history, the cryptocurrency has become very much significant both on and offline. The history of Bitcoin is as interesting as its present. Let’s travel back a few years to know Bitcoin rate history and its market.
Bitcoin came into existence with Satoshi Nakamoto’s efforts. The specific aim was to create “electronic cash system” that is “completely decentralized with no server or central authority”. After cultivating the bitcoin technology successfully, Satoshi made the open source code available to bitcoin enthusiasts only to vanish subsequently. The best thing that goes into the favor of bitcoin is its decentralized nature. There is no involvement of any government or institutions like a bank, which to a greater extent makes it a global exchange currency having similar value in every geographical region
3rd January holds importance in the history of bitcoin as it was the day when Satoshi released the open source code for this software. Not only the day becomes important for this reason but also counts as the remembrance of this special day to the history of bitcoin. Additionally, a global day to celebrate the true success of bitcoin is certainly a GREAT idea.
While a special day (3rd of January if implemented successfully) will mark the success of a release (bitcoin source code) on one hand, it will, on the other hand, give a reason to educate new bitcoin enthusiasts about the worth and the true value of this virtual cryptocurrency. As bitcoin has already become a rage, a day to celebrate its success is, of course, the worth of the cost.
To put it simply, bitcoin mining is the process of adding transactions in the public ledger i.e. to the blockchain with all the advanced calculations. For instance, the process of sending bitcoin from a person to another is recorded in the network in the form of “block”. Special software called “miners” record these transactions. These transactions are then inscribed in a digital ledger collectively known as blockchain.
Minors convert blocks into specific codes with specialized software and powerful hardware to convert them to “hash”. Although the process seems quite easy, it involves a lot of calculations with specific software to determine the true bitcoin value. Generation of every new hash is followed by the updating the same in the blockchain, which is publicly updated and propagated.
As per Satoshi’s protocol established for bitcoin, only 21 million of bitcoins can ever be mined of which only 12 million have been mined till date. It states that there is a limited supply of bitcoin that can ever be recorded. Unlike other elements of limited supply, bitcoin hold no real intrinsic value. There are a number of theories that explain why Satoshi choose 21 million as the limited number of bitcoins.
The limited transaction value makes bitcoin different from stock and other such currencies. Additionally, controlling supply value is entirely open, which also favors the growth of this virtual currency in the blockchain ecosystem. The current growth of bitcoin may thus increase much more in value.
Bitcoin is associated with a lot of risk-taking as per the fluctuation of this virtual currency. In case you are willing to own a digital currency, you can invest in cryptocurrencies like coinbase, CEX, and Kraken. These are the most established virtual currencies that you can buy, own or sell through bitcoin apps.
All you need to have is setting up a Paypal account. For instance, take the example of coinbase app that you can use to trade in bitcoin through your bank account. You can make the deposit to your virtual account. Once the account is funded that generally takes a few days, exchange in the traditional currency for bitcoin can be done. The current worth of bitcoin is at an all time high. Therefore, it can be traded to own profit worth the original price. The bitcoin wallets and apps are there to offer you a way to trade in bitcoin.
Step 1:You need to find bitcoin miners that include Antminer S5, Antminer S7 and Antminer S9 as popular bitcoin miners.
Step 2:This is the step to create your bitcoin wallet. You can either head to Coinbase or sign up to hosted wallets. It is important to secure these wallets in order to protect your money in the bitcoin wallet.
Step 3:You can either choose to be a solo miner or join a pool. Joining a pool is a good option to increase profits and the rewards if compared to being a solo player.
Step 4:It is now time to mine the hardware and install the right software on the computer. This will allow monitoring the input and output. Your software will include a number of information including statistics and hash rate.
Step 5:Keep monitoring the results and the profit to ensure if you are doing the business the right way.
Calculating all the risk, investment and bitcoin currency worth, this virtual cryptocurrency involves a lot of risk. Unlike other currencies that have a fixed value for a while, bitcoin keeps fluctuating. As the financial value is highly volatile, the cryptocurrency may swing even from hour to hour. Additionally, the transaction is not at all individual traceable, they are however secured because of the use of encrypted keys.
The so-much-secured network also makes it impossible for a trader to know who is selling or buying bitcoins from you. However, there are exceptional opportunities for money laundering. Additionally, when a transaction hits the blockchain it gets final and there is no way taking it back from the software in any of the ways.
Trading in bitcoin is a resource-intensive process. The virtual currency has, of course, made an impressive jump in the past few years making it a profitable business altogether. Going back to the history of this cryptocurrency, January 3rd comes as the day that holds importance in the history as the day for making the bitcoin source code open to everyone. Well, the idea of celebrating a day for the success of this impressive cryptocurrency, of course, makes complete sense.
Being a Senior Technical Writer at MobileAppDaily, Neha Baluni loves jotting down her piece of opinion for the advancing technology in mobile app world. Having a journalism background, she is a writer by day and a reader by night. Her passion for writing covers different categories of technical and non-technical genre. In addition to writing, Neha loves traveling a lot.
Was this article helpful?
mobile app industry
Coinbase Discontinued Bitcoin Cash Trading After Exchange Launch
I Am Not A Bitcoin Fan, Says Alibaba Founder Jack Ma
Bitcoin Trading App, Coinbase Grabs The Top Spot At App Store While Users Struggles To Sign In
Bitcoin's Real Worth Might Be $0 Warns Morgan Stanley