Our Bitcoin guide to get you started with Bitcoin and cryptocurrencies in no-time
What is Bitcoin?A quick introduction to the future of money.
Buy and Exchange BitcoinAn overview of the biggest Bitcoin exchanges today.
Bitcoin MiningThe members of the Bitcoin network provide their computational power for calculations of mathematical problems, and for this effort, they are rewarded with bitcoins. And so the Bitcoin mining starts.
Bitcoin WalletsSomewhere to keep you coins safe. An overview of the most popular online wallets, desktop wallets, and hardware wallets.
Bitcoin is fast, cheap and secure. It is one of the first implementations of a concept called crypto-currency, which was first described in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any 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 a new form of money that uses cryptography to control its creation and transactions, rather than relying on central authorities. In 2009, the first Bitcoin specification and proof of concept were published in a cryptography mailing list by a member under the pseudonym of Satoshi Nakamoto. Towards the end of 2010 Satoshi left the project, saying he had moved on to other things. The creator of Bitcoin never revealed his identity and only left his invention to the world. The origin and the motivation behind Bitcoin are still today a great source of mystery. Since 2010, the Bitcoin community has grown with many developers working on the project. During June and July 2011, Bitcoin suddenly gained media attention leading to a massive bull rally. The resulting bubble slowly deflated through the latter part of 2011, and since then the value of Bitcoin has slowly climbed once again back to its 2011 heights. On September 27th, 2012, the Bitcoin Foundation was created to standardize, protect, and promote Bitcoin. Today, the Bitcoin economy is developing quickly with new users joining every day. Alternatively, to put it more simply, Bitcoin is the future of money. The problem with regular fiat currency is that governments can print as much of it as they like, and they frequently do. If there are not enough US dollars to pay off the national debt, then the Federal Reserve can simply print more. If the economy is sputtering, then the government can take newly created money and inject it into the economy, via a much-publicised process known as quantitative easing. This causes the value of a currency to decrease. Bitcoin was designed to have a maximum number of coins. Only 21 million will ever be created under the original specification. This means that after that, the number of bitcoins will not grow, so inflation will not be a problem. In fact, deflation is more likely in the bitcoin world.
The Beginner’s Guide to Bitcoin is presented by bitcoincambodia.co