Some fascinating facts on Bitcoin!Bitcoin has been around for less than a decade but it is already changing the way we look at traditional money.Taking away our reliance on centralised authorities controlling the worth of our money, it creates a new world of anonymity, security, and digital innovation.In today’s world, Bitcoin can be used for everything from charitable donations, to online shopping, to Bitcoin sports betting!But how much do you really know about this phenomenon?Read on to find out some amazing facts about Bitcoin!Bitcoin was invented by Satoshi Nakamoto (which is a pseudonym of the creator’s name) in 2008.To this day, no one knows the true identity of its inventor and it is the subject of much deliberation and speculation.On average, there are 3,600 Bitcoins mined every single day.The first Bitcoin transaction was of 100 BTC and was between Satoshi and Hal Finney on the 12th January 2009.Did you know that there are over 100 sites that offer Bitcoin gambling?The creator has said that the last Bitcoins will be mined in 2140 as the maximum number of Bitcoins that can ever exist is 21 million.

Each Bitcoin has a detailed digital history which means it is very difficult to fake.There are 31,000 lines of computer code that go into Bitcoin.In 2013, a Brit names James Howells accidentally threw away a hard drive with £4.6m worth of Bitcoin stored on it.It was never retrieved.Norweigan, Kristoffer Koch bought some Bitcoins for $17 and then forgot about it.When he remembered, he had bought it, it was worth $827,750.Vancouver is home to the world’s first Bitcoin cash machine!Thailand became the first country in the world to outlaw Bitcoin, in 2013.$7 is the least a Bitcoin has ever been worth and the most is $1250 which it reached in November 2013.Lamborghini became the first car manufacturers to accept Bitcoin in exchange for cars.In Holland, you can buy pizza using Bitcoin!In 2012, a convenience store in Manchester started accepting Bitcoin.You can also use Bitcoin to travel into space with Virgin Galactic.Dating website OKCupid also accepts Bitcoins as payment for its services!

One of the most important factors about Bitcoin is that you cannot reverse a transaction, nor can you be forced to pay.This makes is more secure than more conventional ways of paying.If you lose your Bitcoin, you can never get them back!Whether you keep them on a hard drive, or in a digital wallet, once that device is lost or crashes, your Bitcoin are gone forever!So, there is a roundup of lots of interesting facts and figures to do with Bitcoin.bitcoin fed rate hikeNow we hope that you feel you are armed with the knowledge to make a decision as whether or not to have a dabble in the world of digital cryptocurrencies!bitcoin bull or bearShare this entry No comments?bitcoin mining windows vs linuxC'mon, we can do better... Leave a comment above and let's start this conversation!bitcoin essentials pdf

« The Raptors Riddle Open Mike »Learn about global, local and private digital alternative currencies, including cryptocurrencies such as Bitcoin and Litecoins.Key points Alternative currencies are becoming more familiar - they can offer freedom from the regular banking system and from international trade restrictions They're unregulated, meaning that users are vulnerable to fraud Currency value can be volatile in the extreme, making them risky Alternative currencies are forms of exchange that individuals and organisations may use instead of regular currencies such as pounds, dollars and euros, or alongside them.bitcoin difficulty history tableThey can be created by almost anyone, including individuals, corporations and nation states.bitcoin pool no registrationThe key point is that a wider community needs to see a value in the currency, meaning it'll acquire a value.ethereum cad

Such currencies have developed for a wide variety of reasons, including in response to financial crises, to facilitate crime and as solutions to local, social and/or ecological issues.Although they're still a somewhat niche consideration, certain currencies such as Bitcoin are well known and accepted by businesses around the world.If the freedoms associated with these currencies may seem attractive, consumers should also be aware that a scheme is likely to be unregulated - leaving them vulnerable to loss and fraud - and that the value attributed to an alternative currency is likely to be extremely volatile.bitcoin steuernBitcoin is probably the best known alternative currency, but there are many others including Litecoins and Linden Dollars.bitcoin graph worthBitcoin and Litecoins are examples of what are known as cryptocurrencies, which are designed to allow payments without financial intermediaries.

Linden Dollars, Amazon Coins and Starbuck Stars are examples of private digital currencies, which are exchange mechanisms typically issued by a company or a social network.All such global alternative currencies offer international exchange that can bypass the banking system.There are also currencies that have been called 'hyper-local' because they're only used in specific localities.See also: Alternative investments Mutual societies Credit unions Examples include Ithaca Hours and BerkShares or, in the UK, the Bristol Pound, the Stroud Pound, the Totnes Pound, the Brixton Pound and the Lewes Pound.† Local community options may be used to help reward 'unpaid' work, regenerate local areas and tackle social exclusion.In the UK, people are free to accept any currency they want and such schemes have included the following types of exchange mechanisms: Transition Town Pounds are paper notes with the legal status of a retail voucher, although unlike vouchers they are subject to tax.

An example of how this would typically work is that someone would give an hour of their time performing a certain task, which could then be redeemed for an hour of the time of another member of the time bank.A LETS exchange is similar to a time bank exchange, but someone's time would buy them a number of LETS units and this 'currency' could then be exchanged for a service from another member of the scheme.The growth of alternative currencies that may be difficult to trace has led to concerns about their potential to be used for crime.There are ways to associate bitcoins with users, though, meaning they're not totally anonymous - they've been called 'pseudonymous'.There have been attempts to develop totally anonymous cryptocurrencies, examples of which include Darkcoin, Anoncoin and Zerocoin.As Bitcoin is the most well-known alternative currency, let's take a closer look at it… Bitcoin came to prominence as the go-to currency for hackers and drug dealers operating on the so-called 'deep web', but now big, legitimate business operations like Microsoft and Dell accept it as payment.

Bitcoin is going overground in a big way - you can even buy pizza with it now.So, how can you get hold of bitcoins?And what can you do once you've got them?And should you even bother in the first place?It's really easy to get your hands on bitcoins.Sites like Bitbargain put buyers and sellers in touch and you can be in possession of some digital coins to use at your leisure within minutes.† It's reasonably safe to buy from sites like these - they're pretty rigorous with regards to who they allow to sell.According to Bitbargain, "it's virtually impossible to scam buyers without getting noticed and removed from the system immediately".However, caution should still be exercised.You should always check the seller's ratings and it's probably not wise to buy many more bitcoins than you'd be comfortable losing at one time.You could try 'mining' for them as well.This doesn't have to be complicated, but you will require a lot of raw computing power to do it.Try this beginners' guide to mining for bitcoins to find out more.† As with regular money, you'll need somewhere to keep your bitcoins once you have them.