Tag: BTC

Bitcoin, Cryptocurrency Guides, Guides

How Does Bitcoin Prevent Double Spending?

One major problem that plagues digital currencies is double-spending. Ultimately, this exploit allows users to spend their funds multiple times by manipulating the records. But what you may not know is that Bitcoin removes this problem entirely. That is why in this article I will be providing a detailed explanation of how Bitcoin prevents double spending and much more. So without further ado, let’s jump … Continue reading How Does Bitcoin Prevent Double Spending?

Bitcoin, Cryptocurrency Guides, Guides

Why Does Bitcoin Still Use Proof of Work?

If you have heard of Bitcoin then you have probably heard of the term proof of work. This revolutionary concept is essentially a consensus mechanism employed by Bitcoin that offers unmatched security while providing a more democratic governance protocol. But it is not all sunshine and rainbows. With this security comes huge climate impacts and issues with scalability. In this article, I will be covering … Continue reading Why Does Bitcoin Still Use Proof of Work?

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When Did Bitcoin Start Trading?

Bitcoin is the best-performing asset of the past decade but this was not always the case. It wasn’t until two years after its inception that it reached $1. All in all, Bitcoin has had a volatile trading history. Starting from a niche community of cypher funks to a world-renowned digital currency with millions of users. In this article, I will be covering its trading origin … Continue reading When Did Bitcoin Start Trading?

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Bitcoin Transaction Fees: What Are They And Why Are They Needed?

If you have transferred Bitcoin then you have probably had to pay a transaction fee. Although they can be costly they are an integral part of the Bitcoin network. Ultimately, they ensure security by incentivizing computers to validate transfers. In this article, I will be explaining what Bitcoin transactions are and much more. So without further ado. Let’s jump right in. TL;DR: Bitcoin transaction fees … Continue reading Bitcoin Transaction Fees: What Are They And Why Are They Needed?

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Why do Bitcoin Transactions Take So Long?

If you have withdrawn or deposited Bitcoin then you have probably suffered through the long wait times. Processing can take 1, 2, or even 3 hours or more. But you may be wondering, why do Bitcoin transactions take so long?  Don’t worry. In this article, I will be answering that question and much more. So without further ado, let’s dive right in. Why do Bitcoin transactions … Continue reading Why do Bitcoin Transactions Take So Long?

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Why do Bitcoin Addresses Change?

If you have received Bitcoin then you have probably noticed your address change. Although this may sound worrying it is part of the functionality of the network rather than a bug. In this article, I will be covering why Bitcoin addresses change and much more. So without further ado, let’s jump right in. TL:DR: Bitcoin generates new addresses to increase privacy. All in all, it … Continue reading Why do Bitcoin Addresses Change?

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Why Does Bitcoin Affect Altcoins?

At the end of the day, Bitcoin is king. Ever since its inception, it has remained the number one cryptocurrency. With this power comes extreme influence on the market. More specifically the effect on altcoins. Bitcoin either destroys them or allows them to flourish. But you may be wondering, why does Bitcoin affect altcoins? Don’t worry. In this article, I will be answering that question and … Continue reading Why Does Bitcoin Affect Altcoins?

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Bitcoin Whitepaper: A Comprehensive Explanation

There is no denying that Bitcoin is one of the most innovative technologies of the last decade. Offering a censorship-resistant asset that is digitally scarce is revolutionary. But you may be wondering, where did this idea come from and who wrote the thesis? This is where the Bitcoin whitepaper comes into play. Published over a decade ago it is a 9-page digital manifesto detailing the plans … Continue reading Bitcoin Whitepaper: A Comprehensive Explanation

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Why is Bitcoin Banned in Some Countries?

Bitcoin is an inherently controversial asset. From its ability to facilitate criminal activity to its overall toll on the environment, these factors have caught the attention of governments across the world. That is why in this article I will be covering 4 reasons Bitcoin is banned. So without further ado, let’s jump right in. TL;DR: Bitcoin is banned in some countries as it can facilitate … Continue reading Why is Bitcoin Banned in Some Countries?

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5 Reasons Bitcoin is Used For Illegal Purchases

One of the key criticisms of Bitcoin is that it is used for illegal purchases. Ultimately, with the rise of the dark web, Bitcoin has been at the helm. In my opinion, this claim is hard to refute. After all, over 144,000 Bitcoin were seized after the drug market known as Silk Road was shut down. But you may be wondering, why is Bitcoin used for … Continue reading 5 Reasons Bitcoin is Used For Illegal Purchases