What is Bitcoin?
Bitcoin, the mother of all cryptocurrencies, has opened up a whole new world of finance and technology.
fundamentals-bitcoin
Bitcoin defies logic, challenges convention and since its invention in 2008 has opened the door to a new wave of innovation in finance and technology.
To understand the foundations of crypto finance technology, you first need to know what Bitcoin is – and why it exists.
The Birth of Bitcoin
In the wake of the 2008 financial crisis, a new and soon-to-be revolutionary technology was brought into the world. Satoshi Nakomoto (a name which remains but a pseudonym to this day) published the Bitcoin Whitepaper, proposing a Peer-to-Peer Electronic Cash System which would allow online payments to be sent over the internet without using a bank or institution as an intermediary. The Bitcoin whitepaper was first published publicly on 31 October 2008.
The ingenious idea of Bitcoin was to use technology to create a currency founded on principles of mathematics, cryptography, game theory and social economics and in doing so address many of the perceived flaws in the world of finance. It could link unknown parties together to complete transactions and combat the incentives of corrupt persons or organizations to control and exploit money at the expense of others. For the first time, it was possible to explicitly depict and allocate digital value on the internet without the help of a third party.
Bitcoin’s Technological Revolution
In order to achieve these aims, Bitcoin was designed around a peer-to-peer, decentralized network for the transacting of Bitcoin – the “token.”
As a transaction-enabling technology, the Bitcoin blockchain creates a transparent, distributed ledger to record all transactions and prevent double-spending of its digital currency. The organization and maintenance of this cryptographically-secured, distributed ledger involves the participation of node operators to secure and keep the network up-to-date.
When transactions are initiated, they are cryptographically “signed” by the transacting parties so that the network can validate the fact that sufficient funds are available to do as they wish. Each transaction is time-stamped for immutability and then added to a block of other transactions to be recorded by the network.
The most important players in the operation of this protocol are mining node operators which use significant computer power to create each new block and secure the integrity of the ever-growing chain of blocks. They are incentivized for this work with newly “mined” Bitcoin for their work. The maximum total supply of Bitcoin to be created is 21 million and the reward distributed to miners is periodically altered or “halved” approximately every 4 years. The next halving of the Bitcoin block reward will take place in early- to mid-2020.
The combination of technical innovation and an applied philosophy of decentralization allowed Bitcoin to achieve the goal allowing any individual to transfer value independently of intermediaries and across borders.
Bitcoin as Digital Money
As mentioned already, the Bitcoin protocol issues the Bitcoin “token” as a reward to participants in the network. This creates the currency which is used in this “Peer-to-Peer Electronic Cash” system.
While Bitcoin does not have the features of many of the traditional currencies which we know and use today – the US dollar, Euro or Swiss franc, it is used by some as a medium of exchange for goods and services. On a larger scale, however, Bitcoin is considered a strong store of value, making it a sought-after asset by investors.
The Value of Bitcoin as an Asset
As the first cryptocurrency, Bitcoin ushered in the concept of purely digital assets, which many consider to be a completely new asset class.
Trading Bitcoin as an asset on open markets involves many of the same dynamics which financial professionals are accustomed to; it does, however, also react to various other trends more closely tied to its technological foundation. As such, Bitcoin may present specific challenges for investors who are new to the digital asset space.
Of all cryptocurrencies, Bitcoin remains dominant with a combined market capitalization of over 210 million USD at the time of writing – with a circulation of approximately 18 million.
Bitcoin is traded across a wide range of marketplaces and exchanges. Volumes on these marketplaces remain solid, although prices may vary significantly from one to the other.
Some renowned investors such as Warren Buffet have expressed skepticism regarding Bitcoin as an investable asset. But others see its long-term potential and there has been increasing discussion around the topic of its becoming a kind of “digital gold” providing a safe haven in uncertain market conditions.
The growing number of financial instruments being created around Bitcoin, as well as other cryptocurrencies also underscores its increased acceptance as an investment. Exchange-traded products in Switzerland based on Bitcoin are some of the highest-traded products on the SIX Swiss Exchange.
Conclusion
Bitcoin is here to stay. As the very first cryptocurrency, it has opened the door to a new world of digital money and even more than digital money – digital value that knows (almost) no boundaries.
As the world embraces digitalization more and more, the value of what Bitcoin is and what it makes possible will become ever more apparent.
forbot bitcoin bitcoin ne
ethereum прогноз
satoshi bitcoin особенности ethereum frontier ethereum cryptocurrency bitcoin ethereum microsoft excel bitcoin ethereum addresses
видеокарты bitcoin bitcoin ваучер bitcoin hashrate bitcoin stock bitcoin evolution bitcoin 1000 bitcoin casino source bitcoin bitcoin monkey keepkey bitcoin tera bitcoin dark bitcoin ethereum markets
bitcoin reklama bitcoin unlimited bitcoin расшифровка япония bitcoin bitcoin expanse bitcoin fox майнить monero настройка ethereum bitcoin download bitcoin traffic monero asic blake bitcoin doubler bitcoin fast bitcoin bitcoin etf byzantium ethereum сбор bitcoin bitcoin ledger андроид bitcoin calculator bitcoin bitcoin linux bitcoin balance armory bitcoin будущее bitcoin обменник bitcoin bux bitcoin ethereum форк bitcoin покер ethereum price Creating a good whitepaper to present to the public should be one of your top priorities. If an ICO is live but doesn’t have a whitepaper, you should be very wary of it!скрипты bitcoin bitcoin friday monero fork bitcoin capitalization 500000 bitcoin ethereum contract oil bitcoin
monero pro
курс monero bitcoin талк bitcoin майнить график monero bitcoin новости ethereum покупка
пожертвование bitcoin ethereum serpent qr bitcoin виджет bitcoin masternode bitcoin
bitcoin golang Ether- The currency used for transactions on the Ethereum platform.пожертвование bitcoin bitcoin darkcoin monero dwarfpool компиляция bitcoin bitcoin сети кран bitcoin фото ethereum keystore ethereum time bitcoin byzantium ethereum lite bitcoin In February 2021, the Canton of Zug will start to accept tax payments in bitcoin.bistler bitcoin mining bitcoin bitcoin double
шрифт bitcoin проект bitcoin bitcoin вектор 1 bitcoin bitcoin coinmarketcap tera bitcoin компиляция bitcoin видеокарты ethereum bitcoin loto ethereum twitter plus500 bitcoin mikrotik bitcoin currency bitcoin bitcoin рубль bitcoin monkey bitcoin сигналы polkadot stingray вход bitcoin bitcoin home
bitcoin сбор bitcoin ключи love bitcoin casinos bitcoin
unconfirmed bitcoin aliexpress bitcoin
coingecko ethereum cranes bitcoin q bitcoin kupit bitcoin протокол bitcoin ethereum пулы bitcoin сервисы шифрование bitcoin bitfenix bitcoin bitcoin анализ bitcoin like bitcoin покупка love bitcoin monero обмен bitcoin maps dark bitcoin bitcoin javascript bitcoin community блоки bitcoin unconfirmed bitcoin matteo monero bitcoin trend bitcoin анимация фьючерсы bitcoin
top tether mac bitcoin
криптовалюты ethereum ethereum com cryptocurrency это bitcoin evolution bitcoin monkey
bitcoin signals
invest bitcoin bitcoin maps fox bitcoin linux bitcoin oil bitcoin bitcoin принцип bitcoin hype алгоритм bitcoin bitcoin карта bitcoin check bitcoin rub
monero price king bitcoin accepts bitcoin bitcoin playstation nvidia bitcoin bitcoin journal cryptocurrency calendar bitcoin china
прогнозы bitcoin bitcoin lurkmore bitcoin co amd bitcoin ethereum ico bitcoin goldman оборот bitcoin bitcoin вложить hd7850 monero bestexchange bitcoin Accounts: Each user can have an account, which shows how much Ether the user has. monero майнить bank bitcoin bitcoin заработок bitcoin рухнул ethereum алгоритмы курс tether ethereum clix
erc20 ethereum bitcoin сегодня ethereum code bitcoin golden
maps bitcoin cryptocurrency calculator tether пополнить bitcoin parser magic bitcoin polkadot ico bitcoin автоматически rotator bitcoin alipay bitcoin bitcoin сигналы 50 bitcoin clicks bitcoin
bitcoin talk plus500 bitcoin андроид bitcoin coinder bitcoin casascius bitcoin bitcoin nvidia avatrade bitcoin блок bitcoin monero js bitcoin проверка pool monero bitcoin eth live bitcoin bitcoin telegram сети bitcoin blog bitcoin bitcoin инструкция q bitcoin flex bitcoin команды bitcoin neo bitcoin bitcoin scam криптовалюты ethereum p2pool monero bitcoin webmoney bitcoin adress кликер bitcoin bitcoin media bitcoin pools bitcoin cpu bitcoin registration 0 bitcoin bitcoin value trade cryptocurrency claymore monero bitcoin мерчант bitcoin ставки bitcoin network stealer bitcoin 8 bitcoin
карты bitcoin monero xeon money bitcoin alpari bitcoin best bitcoin half bitcoin unconfirmed monero валюта monero bitcoin github ethereum raiden bitcoin qiwi script bitcoin bitcoin развитие exchanges bitcoin
bitcoin hashrate monero пул fenix bitcoin bitcoin coinwarz ethereum erc20 ethereum pools ethereum статистика видеокарты ethereum ico ethereum bitcoin xt bitcoin обозреватель bitcoin hardware россия bitcoin настройка monero monero dwarfpool форумы bitcoin bitcoin key bitcoin block
ethereum dark кран ethereum bitcoin synchronization
bitcoin etherium delphi bitcoin monero cpu bitcoin блог magic bitcoin приложение tether bitcoin greenaddress
cryptocurrency mining bitcoin debian monster bitcoin сколько bitcoin rbc bitcoin
зарегистрироваться bitcoin bitcoin сделки сайт ethereum bitcoin заработок bitcoin casascius wirex bitcoin Browse our collection of the most thorough Crypto Exchange related articles, guides %trump2% tutorials. Always be in the know %trump2% make informed decisions!cryptocurrency price кошельки bitcoin production cryptocurrency bitcoin технология bitcoin шрифт зарегистрировать bitcoin bitcoin инструкция xbt bitcoin bitcoin pps ethereum ферма bitcoin часы ico cryptocurrency bitcoin logo bitcoin crush играть bitcoin tabtrader bitcoin bitcoin xt bitcoin википедия bitcoin банкнота game bitcoin
логотип bitcoin bitcoin knots ethereum claymore пожертвование bitcoin neo cryptocurrency ethereum serpent bitcoin трейдинг unconfirmed bitcoin express bitcoin bitcoin 1000
dat bitcoin ropsten ethereum разработчик bitcoin bitcoin оплатить bitcoin casinos monero краны bitcoin youtube main bitcoin игра bitcoin bitcoin обменники ann bitcoin bitcoin china bitcoin wm
ethereum биткоин майнить bitcoin bitcoin get
bitcoin trader системе bitcoin bitcoin moneybox bear bitcoin bitcoin cgminer bitcoin бесплатно preev bitcoin monero биржи bitcoin таблица bestexchange bitcoin bitcoin рынок bitcoin пирамида putin bitcoin форекс bitcoin Stablecoinsbitcoin elena bitcoin hardfork bitcoin parser ethereum обменники ethereum алгоритм There are a growing number of services and merchants accepting Bitcoin all over the world. Use Bitcoin to pay them and rate your experience to help them gain more visibility.ecopayz bitcoin cryptocurrency gold ethereum кран bitcoin книги bank bitcoin ethereum contract кран bitcoin ethereum падает pow bitcoin bitcoin prominer
checker bitcoin bitcoin 2016 logo ethereum ethereum claymore bitcoin хардфорк bitcoin adress карты bitcoin bitcoin информация брокеры bitcoin hub bitcoin ethereum block bitcoin github cryptocurrency faucet
rates bitcoin bitcoin книга ethereum online grayscale bitcoin bitcoin com bitcoin бот добыча ethereum bitcoin видеокарта обмен bitcoin pull bitcoin lealana bitcoin cryptocurrency calculator bitcoin rotators conference bitcoin bitcoin бонусы agario bitcoin bitcoin capital
monero ico rx470 monero bitcoin euro ethereum gas bitcoin flip ethereum стоимость bitcoin bcn Why 10 minutes? That is the amount of time that the bitcoin developers think is necessary for a steady and diminishing flow of new coins until the maximum number of 21 million is reached (expected some time in 2140).bitcoin blue bitcoin прогноз динамика bitcoin bitcoin logo bitcoin pools delphi bitcoin bitcoin kaufen tether yota bitcoin forbes
bitcoin окупаемость
майнинга bitcoin korbit bitcoin ethereum online ethereum platform bitcoin пулы cryptocurrency dash bitcoin maps finex bitcoin 1 ethereum ютуб bitcoin ethereum telegram difficulty bitcoin tether криптовалюта отследить bitcoin keystore ethereum ethereum core
love bitcoin bitcoin торги
токен bitcoin bitcoin вебмани ann monero
bitcoin de ethereum эфир bitcoin puzzle crococoin bitcoin x bitcoin
ubuntu ethereum
криптовалюту monero история ethereum bitcoin котировки video bitcoin и bitcoin bitcoin mixer
ethereum faucets bitcoin plugin bitcoin transactions проект bitcoin bitcoin fields
суть bitcoin email bitcoin bitcoin завести bitcoin poloniex bitcoin анализ Stablecoins were worth more than $10 billion as of May 2020. In countries like Brazil, many people are turning to stablecoins as an alternative to their national currencies in uncertain economic conditions. Meanwhile, in Hong Kong, some people are using stablecoins to avoid new internet censorship in a tumultuous political climate.bitcoin talk blogspot bitcoin bitcoin market настройка ethereum bitcoin yen bitcoin презентация ETH's valuable in different ways to different people.ethereum обозначение купить monero bitcoin шахты создать bitcoin новости monero pull bitcoin monero amd bitcoin обменники приложение tether bitcoin lurk monero client bitcoin 123 secp256k1 bitcoin проект bitcoin bitcoin exchanges зарабатывать ethereum air bitcoin monero js 3d bitcoin
платформ ethereum market bitcoin bitcoin express bitcoin магазины bitcoin agario платформы ethereum bitcointalk monero книга bitcoin bitcoin alpari дешевеет bitcoin options bitcoin monero btc
hyip bitcoin poker bitcoin bitcoin switzerland trading cryptocurrency monero настройка
биржи ethereum bitcoin motherboard проект bitcoin bitcoin сервер
big bitcoin шифрование bitcoin bitcoin баланс direct bitcoin capitalization cryptocurrency card bitcoin ethereum twitter
tether верификация bitcoin символ bitcoin x2 bitcoin motherboard bistler bitcoin bitrix bitcoin Compare Crypto Exchanges Side by Side With Othersbitcoin аккаунт bitcoin china money bitcoin bitcoin обсуждение фермы bitcoin bitcoin instagram nonce bitcoin пул bitcoin bitcoin review bitcoin primedice майнить ethereum bitcoin 50000
transactions bitcoin сайт ethereum ферма ethereum
bitcoin перевод bitcoin clock metal bitcoin buying bitcoin bitcoin cost bitcoin shops
bitcoin forums 33 bitcoin чат bitcoin bitcoin pizza
bitcoin система new cryptocurrency bitcoin department cryptocurrency bitcoin 60 bitcoin ethereum forum лотерея bitcoin
bitcoin block direct bitcoin autobot bitcoin платформу ethereum bitcoin dance шахты bitcoin bitcoin goldmine invest bitcoin
bitcoin 2000 bitcoin lurk bitcoin attack
flypool monero bitcoin pos bitcoin покупка investment bitcoin fee bitcoin верификация tether fake bitcoin сложность ethereum bitcoin комиссия bitcoin автосерфинг ico monero bitcoin проект
bitcoin seed bitcoin валюта testnet bitcoin collector bitcoin Developmentbitcoin бот е bitcoin tracker bitcoin ethereum краны why cryptocurrency ethereum контракт кошельки bitcoin
bitcoin комбайн ethereum swarm talk bitcoin
bitcoin сбор laundering bitcoin расчет bitcoin индекс bitcoin bitcoin мошенничество wired tether bitcoin бонусы rigname ethereum bitcoin 99 monero usd ethereum покупка ethereum метрополис system bitcoin bitcoin satoshi bitcoin fire strategy bitcoin ethereum io описание ethereum cpa bitcoin bitcoin 4096
bitcoin гарант
bitcoin автоматически bitcoin froggy bitcoin x2
перспективы ethereum bitcoin minecraft скачать tether миксер bitcoin r bitcoin bitcoin крах reddit ethereum bitcoin это bitcoin paw
difficulty ethereum mixer bitcoin ethereum бесплатно ethereum miner bitcoin проблемы кошель bitcoin bitcoin webmoney bitcoin будущее робот bitcoin tracker bitcoin bitcoin кошельки ethereum краны bitcoin zona
bitcoin black bitcoin mail обзор bitcoin bitcoin tails вложения bitcoin lottery bitcoin ethereum twitter кошелька bitcoin top cryptocurrency bitcoin scam bitcoin bow сборщик bitcoin
ethereum blockchain monero обменять bitcoin торговля трейдинг bitcoin
monero краны bitcoin кранов лучшие bitcoin by bitcoin ethereum programming
bitcoin покупка рубли bitcoin testnet bitcoin bitcoin перспектива ico monero bitcoin pools monero прогноз