KB Topic What If Bitcoin

Crypto Market Plunges As Bitcoin ETF Postponed | Crypto Briefing
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Why use bitcoin - CoinDesk
Last updated: 28th January 2018 Bitcoin was originally created as an alternative, decentralized payment method. Unlike international bank transfers at the time, it was low-cost and almost instantaneous. An added benefit for merchants (less so for users) was that it was irreversible, removing the threat of expensive charge-backs. However, the improvement in domestic payment methods and the rapid development of alternative (non-cryptocurrency) forms of international transfers has reduced bitcoin's advantage in this area, especially given its increasing fees and frequent network bottlenecks. Furthermore, the increasing oversight and regulation to prevent money laundering and illegal transactions have restricted the cryptocurrencys use for privacy reasons.

How do bitcoin transactions work - CoinDesk
Last updated: 29th January 2018 If I want to send some of my bitcoin to you, I publish my intention and the nodes scan the entire bitcoin network to validate that I 1) have the bitcoin that I want to send, and 2) haven't already sent it to someone else. Once that information is confirmed, my transaction gets included in a block which gets attached to the previous block hence the term blockchain. Transactions can't be undone or tampered with, because it would mean re-doing all the blocks that came after. Getting a bit more complicated: My bitcoin wallet doesn't actually hold my bitcoin. What it does is hold my bitcoin address, which keeps a record of all of my transactions, and therefore of my balance. This address a long string of 34 letters and numbers is also known as my public key.  I don't mind that the whole world can see this sequence. Each address/public key has a corresponding private key of 64 letters and numbers. This is private, and it's crucial that I keep it secret and safe. The two keys are related, but there's no way that you can figure out my private key from my public key.

What is bitcoin - CoinDesk
Last updated: 26th January 2018 To cut through some of the confusion surrounding bitcoin, we need to separate it into two components. On the one hand, you have bitcoin-the-token, a snippet of code that represents ownership of a digital concept sort of like a virtual IOU. On the other hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. Both are referred to as bitcoin. The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. Bitcoins aren't printed, like dollars or euros they're produced by computers all around the world, using free software.

If only I invested in Bitcoin... | 99 Bitcoins
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December 21, 2018 10:42 AM


What is a Bitcoin ETF - Bitcoin Market Journal
In March 2017, the U.S. Securities and Exchange Commission (SEC) decided not to approve the first bitcoin ETF, the Winklevoss Bitcoin Trust ETF (COIN), due to the lack of transparency and regulation of bitcoin exchanges. Since then, the SEC has rejected several further bitcoin ETF proposals, as there are too many unanswered questions to allow for digital currency ETF without exposing investors to substantial risk, according to the regulator. More specifically, in January 2018, the SEC's director of investment management, Dalia Blass, said in a letter directed towards two industry groups who are advocating for bitcoin ETFs to be listed:

Are The Bitcoin Symbols 'XBT' & 'BTC' Different
By:Sudhir Khatwani In:Bitcoin Last Updated:13/10/2018 Spoiler: No, XBT is not different from BTC. These two symbols are used synonymously to refer to Bitcoin?. But I think only knowing the spoiler information is not enough, and it is my duty on CoinSutra to tell you everything important surrounding Bitcoin. So right now, we are going to talk about Bitcoins ticker symbol i.e. BTC (aka XBT). I am sure some of you might be thinking: To answer this, let's remember that Bitcoin is not a sovereign currency, meaning it is not a national currency produced by any specific entity. It exists with no single point of origin.
November 25, 2017 11:32 AM


Bitcoin Core Roadmap Unveils Signature Optimization Plan - CoinDesk
Bitcoin Core developers released a new technology roadmap today that charts the project's planned transition from its current digital signature algorithm to a more advanced alternative. If implemented, the proposal would find Schnorr signatures replacing the ECDSA signatures bitcoin uses today to sign transactions. By making the switch, developers argue they can decrease the total data in bitcoin's blockchain by up to 25%. For users, this means nodes that store the network's transaction history would see better bandwidth while using less storage to secure the entire blockchain. Assuming every historical signature would be reduced to 1 byte, except for one per transaction, analysis suggest[s] the method would result in at least a 25% reduction in terms of storage and bandwidth.

Still Don't Get Bitcoin Here's an Explanation For Five-Year-Olds
If you still can't figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you We're sitting on a park bench. It's a great day. I have one apple with me, I give it to you. You now have one apple and I have zero. That was simple, right Let's look closely at what happened: My apple was physically put into your hand. You know it happened. I was there, you were there you touched it. We didn't need a third person there to help us make the transfer. We didn't need to pull in Uncle Tommy (who's a famous judge) to sit with us on the bench and confirm that the apple went from me to you.

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