Friday, 29 December 2017

Myths of a Bitcoin

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Myths about Bitcoin:


                         The first thing is that people think that you have to buy an entire Bitcoin.and  they think that price is too high that we can’t afford Bitcoin But this is wrong because we can divide the Bitcoin up and buy a part of it and you can go down to eighth decimal place which means you can divide Bitcoin down to 1 hundred millionth which is called a BIT (or) satoshi.


                     Some of the people don’t know how to use Bitcoin and lot of people talking about Bitcoin that is plain wrong .The topic is about some of the different myths and misconceptions about Bitcoin just to clear the misunderstanding about Bitcoin

                       The next one is common and that is Bitcoin is totally anonymous and can’t be tracked by anyone. and that’s not true because every transaction of Bitcoin is recorded through BlockChain and is the ledger that records everyone’s balance.The government also knows how to know the address of Bitcoin and some of the criminals also may track your Bitcoin status.

                      And the next one is Bitcoin is INSTANT which is not true.when your paying fee through Bitcoin which that queues it up into a transactions and the miners everytime they mine a BLOCK. if the fee is high enough they will then put your transaction into the block chain and the its confirmed and blocks are supposed to be mined about every 10minutes and that means you have to wait for every 10minutes for that transaction to get into the blockchain before its considered a transaction and in some places which accept Bitcoins will require multiple confirmations that gets deeper and deeper into the blockchain and more gets added on and then its irreversible. if you are sending money through bank its may takes 4 (0r) 5 business days they have to do an ACH transfer its take forever and even a wire transfer that supposedly instant but even that could take several hours.

                  The next one is Bitcoin will need too much computing power. First you have to understand that Bitcoin doesn’t need this amount of computing power. The amount of computing power difficulty scales with the amount of whole hash pull the entire bitcoin  network. The people think that it requires a huge amount of power usage and GPU.

                          The next thing is Bitcoin is worthless because its not backed by anything. Bitcoin is worth money because everyone agrees that its worth money and if we compare with a dollar its a worth money. if the government seized the dollar then its not a worth money. like that only Bitcoin also it depends on people.

                       The next one is Bitcoin is the only cryptocurrency . so many people think and talk about this but there’s actually a lot of different types of cryptocurrencies upto a thousand at this point most of them are garbage and worthless and but there are a few that are very popular LITECOIN, ETHEREUM. 

                             The final one  is Bitcoin is pointless because there’s no reason to use it over regular money. the are some specific reasons that we can transfer the BITCOIN every where in the world and very fast.Even the banks didn’t do that. some of them are like converted the currencies to another one and thats a huge process and it takes a lot of time
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Thursday, 28 December 2017

BITCOIN vs LITECOIN

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BITCOIN VS LITECOIN

The people intrest in crypto currency has increased drastically.
The main cryptocurrency is bitcoin which was released in 2009 has became dominant in cryptocurrency.
Many cryptocurrencies have entered into the market, Among these the cryptocurrency which has gathered intrest is litecoin.
The similarities and differences between the bitcoin and litecoin are common and the main common similarity is they are both cryptocurrencies.

~POPULARITY AND MARKET CAPITAL

Bitcoin is the most popular cryptocurrency its market capitalization was barely $42,000 in July 2010.
Other cryptocurrencies like ethereum, litecoin and ripple are catching up.

~NUMBER OF COINS(TOTAL)

The main difference is the total number of coins produced by each cryptocurrency.
The bitcoin has maximum limit of 21 million coins and litecoin has maximum limit of 84 million coins.
Due to the low cost of single unit or coin of litecoin it has some advantage over bitcoin.
But some bitcoin wallets like Electrum and multi bit offers users the display option of value of their bitcoins in currency of the country like US dollars.

~PROCESSING SPEED OF TRANSACTION

Although the technical transaction take place fast by both cryptocurrencies but sometime is required for the transaction.
For bitcoin it takes 2 to 3 minutes for transaction but for bitcoin it takes up to 9 minutes.
In the basis of the time litecoin has more advantage, If a person wants to do a transaction fastly he can do it by litecoin but litecoin is less secure than bitcoin because litecoin does not need receiver's confirmation for the transaction.

Bitcoin uses SHA-256 algorithm whereas litecoin uses a new algorithm SCRYPT.
SHA-256 is more complex algorithm than SCRYPT.

~CONCLUSTION

Bitcoin and litecoin are the gold and silver of cryptocurrency market today.
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Wednesday, 27 December 2017

The "BITS" of a BITCOIN

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         There are some of the smaller amounts that present in BITCOIN and those are represented in “BITS”..There are 1million BITS in a BITCOIN that means 1BIT=0.000001BITCOIN(BTC).
There are lots of fluctuations that present in BITCOIN that might increase (or) decrease the value of BITCOIN,it might be in fractional form also. So from that way the BITS are formed.Bits are easier to remember.when compared to the other units.some of the problems arises in marketing that’s why The term BITS are produced.The director of product at BLOCK CHAIN. DanHeld accepted the BIT payment.The name bit(binary digit) is a basic unit that relates information that are used in computing ,logical,digital communications.  Coming to block chaining process It is the chain process of all ledger transactions across the networks.By using this technology.participants can confirm transactions without certifying authority.

                       If someone requests a transaction.the requested transaction is broadcast to a peer to peer network consisting of computers and also known as nodes and the network of nodes validates the transaction and users status and the verified transaction can involves the cryptocurrency and once the verified transaction is completed then its combined with the other transaction and creates a new block of data and then new block is then added to the existing block chain and then transaction is complete. Benefits includes increased transparency,accurate tracking,permanent ledger,cost reduction..

CONVERTING BITCOIN INTO BITS:
Lots of people don’t know that how to convert from BITCOIN to BITS
By dividing the BITCOINS with .000001 
ex:- 52.66 BITCOINS  / .000001 =52,66,000 BITS

COVERTING BITS TO BITCOINS:
To convert the BITS to BITCOINS. we have to multiply the BITS amount by .000001
ex:-52,66,000BITS *  .000001 = 52.66 BITCOINS



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Tuesday, 26 December 2017

TOP BITCOIN HOLDERS -WINKLEVOSS TWINS

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WINKLEVOSS TWINS


                       The twins Cameron and Tyler Winklevoss are well known entrepreneurs and American rowers.They were born on August 21,1981 in New York.For their undergraduation they enrolled in Harvard University in 2000 and completed BA degrees They began graduate business study at university of Oxford and completed MBA in 2010.They launched a social networking site connectU where the users can send messages to their friends, update their profile and their photos to notify the friends about themselves.They co-founded this social networking site with their classmate Divya narendra.In 2004,they arraigned Facebook founder Mark Zuckerberg claiming that he stole their social networking site, connectU idea to create his popular social site,Facebook and they received $65 million from Mark Zuckerberg.

In 2013 they started a math based services LLC to register a bitcoin based exchange fund called bitcoin winklevoss trust but this was denied in 2017, March.

In 2013,They seed funding a bitinstant a bitcoin payment process worth $1.5 million.The twins launched Windrex a site or index that tracks bitcoin price or value in 2014.This site tracks the bitcoin price, weighed based on the daily trade volume based on seven exchanges.The bitcoin exchange got approval from New York department of financial services to launch in October 2015.The exchange is useful for both professional and first time user traders.
The twins have other achievements like 6th place in Beijing Olympics finals in rowing.

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Monday, 25 December 2017

ETHEREUM vs BITCOIN

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Ethereum:


              Ethereum was born on 2014 at north america discovered by Buterin and raised as a tough competition to Bitcoin..Ethereum is an increment that supports the principle of block chain and which also makes the support for the bitcoin..probably we can say that it is the second largest and bitcoin resides always the first..It is used as digital currency as well as to run the distributed applications.. A cloud based block chain development such as "Ethereum Blockchain as a service(EBS)". 

           Ethereum is the largest open ended decentrailesd software platform that enables smart contacts and distributed applications..This applications are build without any fraud or interference from the third party..It's not just a platform but also a programming language that runs on blockchain principles..The competition of ethereum with other cryptocurrencies is far better but very less when compare with Bitcoin..

              Both bitcoin and ethereum are powered by the principle of ledgers and cryptography but has technically seperate ways ..bitcoin follows stack based language and the programming language of etherum also has a great scope..Where as the ethreum transactions are faster than bitcoin and Etherum has "ethash" and Bitcoin has "secure hash " algorithms respectively..

  
                    Bitcoin is developed as alternative to regular money where as ethereum serves a platform that facilitates peer to peer transactions..Ethereum helps to build and run distributed applications unlike bitcoin..These apps are together used to promote the ethereum and also to develop this currency method . Ethereum usage is same as the bitcoin method but bitcoin has the largest currency holder and also bitcoins craze and value is increasing day by day..


















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Saturday, 23 December 2017

How to get and Free ways of earning a BITCOIN

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Ways to earn free BITCOINS:
There are many ways to earn free BITCOINS that to be paid through online

FAUCETS
MICRO TASKING
NO DEPOSIT GAMEPLAY
GAMBLING AND PREDICTIONS
COMPETITIVE GAMING
GETTING TIPPED
STREAMING
SOCIAL DISCUSSION
TORRENT SEEDING
AD SALES
MERCHANT SALES
FREE LANCING
FULL TIMING


FAUCETS

                   Faucets are the websites which give-away the BITCOINS on a regular basis whether for every 10mintues (or) an HOUR (or) once in a week
 *simply signup with BITCOIN address (or) with email and if you are selected in the random drawing then you will earn a free BITCOIN
Popular FAUCETS includes:
BITCOIN ZEBRA
MOON BITCOIN
WEEKEND BITCOIN

MICRO-TASKING:

                            Micro tasking websites like PRIZE REBEL and COIN BUCKS pay users BITCOIN for doing things like taking surveys, watching videos and signing up for the new services accounts are free and easy to start and all of the tasks that can be in your own time

NO DEPOSIT GAMEPLAY:

                             No deposit games are web-based games that you can play through your mobile phone and the title suggest that require no deposit to start but do payout small amounts of BITCOIN if you win the game.There are lots of online web-based games to earn free BITCOINS like:
CASH CLAMBER
SATOSHI QUIZ
SPARK PROFIT

GAMBLING AND PREDICTIONS:

                             Some of the casino games are available for BITCOIN gambling.so that many entire web sites exists as GUIDES  for all of the different casinos There also exists predictions markets for various events like BITBET & FAIRLAY
There also exists SPORTS BETTING like BEDCOIN SPORTS

COMPETITIVE GAMING:

                            There are some competitive games that to earn BITCOINS BLACK JACK & POKER are available at BEDCOIN and SWC ,if you are multiplayer gamer some of the games like COUNTER-STRIKE GO,LEAGUE OF LEGENDS(or)MINECRAFT You can play for BITCOINS using the site called “LEET”

GETTING TIPPED

                        CHANGETIP is a social tipping wallet that you can signup for if you use Twitter,Reddit,Sound cloud,Discuss are there to earn Bitcoins People use some of the Chrome extension like PROTIP that will automatically tip you out small amounts of BITCOIN at the end of each week..

STREAMING:

                       STREAMIUM is a beta stage that peer to peer streaming service which functions like meerkat excepts allows you to charge by the minute for BITCOINS you can stream yourself doing anything from that to play games , uploading videos , selling your charms etc.,It is the first service that available to earn BITCOIN from a stream service

SOCIAL DISCUSSION:

                     THE MERKLE.COM Which is a new source for the latest in BITCOIN and BLOCKCHAIN developments they also offers technical analysis of CRYPTO-COINS CHARTS,TUTORIALS and INTERVIEWS.By signing up and subscribing in this website you will earn Free BITCOINS.

MERCHANT SALES:

                ZAPCHAIN and SATOSH these sites pay micro tips for popular threads and insightful comments left on a wide range of trending and hot topics in over the world

TORRENT SEEDING:

              JOY STREAM is the beta version BIT-TORRENT CLIENT that pays seeders for their Bandwidth from this way you can earn free BITCOINS for bandwidth.

AD SALES:

              If you have a blog (or) a website can sell ad space for BITCOINS sites like COIN AD.COM which provides side-bar ads and you can paid per-click

MERCHANT SALES:

               If you have something to sell then you can be an BITCOIN MERCHANT ,Some of the sites like BITIFY acts as crypto e-bays that letting you sell used (or) new goods that available in an auction style format.

FREE LANCING:

                 If you can write, program,translate blog, answering to a customer service calls then you can be a free-lancer and sell your skills on sites like CRYPTO-GRIND & XBT Free lancer and JOBS4BITCOINS. This is the best way to earn free BITCOINS that all work you do daily.

FULL TIMING:

                 Some of the jobs that will pay you BITCOINS for the FULL TIME work that you can get from COIN ALLOTTEE and ANGEL LISTS..
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Ways of Travelling with BITCOINS

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TRAVEL AROUND THE GLOBE 🌐 USING BITCOINS

BY SEA

US rental company Denison yacht sales allows its customers to pay using bitcoin. If you don't like to travel by flight, you can travel by ship or boat.
If you have more money or bitcoin you can purchase a luxury boat or yacht and sail around the sea.
Around 5000BTC are sufficient to travel around the seven seas with yacht.
Instead of purchasing you can also rent a yacht using bit coins.

FLIGHTS

There are some websites which accept only bitcoins for example if you like to travel from Delhi, India to New York, USA you can do so with around 0.07751 BTC if you book flight using ABITSKY.
The other flight booking sites are cheapair.com and btctrip.com and destinia.com.
Cheapair accepted bitcoins from November, 2013 and destinia in 2014.

ACCOMMODATION

At cheapair, destinia and Expedia.com, you can back hotel room for your trip using bit coins.

CAR RENTALS

Once you have traveled through train,flight and yacht and reached your destination and you have to book a car to reach your place.
You can rent a car using bitcoins, in sites like destinia and cheapair.
There are many rental companies which accept bitcoins around the world.

BITCOIN ATM'S or BTM'S

In some countries the credit or debit cards are not accepted and only the local currency is accepted.
In such cases you can use btms that is bitcoin atms to convert them into local currency and use them during the tour.
There are around 1140 BTM'S in 57 countries around the world.

TRAVEL EQUIPMENT

If you want to buy the travel equipment like suitcase,dresses, bags etc you can buy them on Amazon by using bit coins using the service purse.io.
You have to paste the product Amazon ID on purse.io website and you can pay using bitcoins
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Friday, 22 December 2017

MINING CRYPTOCURRENCY

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Mining Cryptocurrency details..

Recently an application launched for mining cryptocurrency called “Mobile miner” It is for iOS devices..

It is an open source project that is based on another application called CPU miner
and it is compiled for arm64 iOS devices from developers.

Steps :

First we have to install the per-compiled IPA file which is going to make it super easy for any one to go outside load this IPA over to their iPhone using X-code and iOS app signer

if we are a developer you want to use X-code to deploy  the project on to your device
if you are not a developer you can use the pre-compiled IPA file

*open X-code and select single view app create a new single view app and give it a product name
*you need to login with the apple ID and the apple ID needs to be a developer account
There’s an option to create a free developer account and it expired with in 7days
*Then connect the iPhone and sign the app using iOS app signer
By using simulators deploy the app directly to your iPhone.
Then open the app and configure the details into it.

USES:

Mobile miner works with many cryptocurrencies like electroneum and mainly because this is very CPU friendly currency to mine.
The app is very useful because of it runs in the background and reminds the notifications  quickly.
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Thursday, 21 December 2017

Economy of a BITCOIN

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ASPECTS REGARDING THE ECONOMY:

General use

                        According to research in cambridge university there are between 3 to 6 million unique users of bitcoins using Cryptocurrency wallets and the active users are increasing day by day due to increase of demand for bitcoin..The usage is mostly resulting in storage due to its volatile increase in currency among different countries..

Buying and Selling

                      Bitcoins can be brought and sold on and off line..Participants offers bids for selling or buying  their bitcoins.Offline bitcoins are gained from a individual or from Bitcoin ATM's.. These are not similar to our normal machines but are connected to internet allwoing the transformation of cash with the present values of bitcoins.these make a charge of 7% transcation fee and exchange rates are also high in demand..Nearly 1000 bitcoins came into existence globally during the year 2016..

Price and voltaile nature 

                 According to survey in 2014 bitcoin has voltaility seven times greater than gold and nearly eighteen times greater than US dollar.. and a group of japanese scholars stated that there is no stabilization mechanism.. 

                     Bitcoin has high voltility due to its high liquidity,This voltaility does not matter in games like gambling , and international remittances..The bitcoins had gone through mant ups and downs resulting in bubbles and busts.The price of Bitcoins is roughly proportional to square of number of daily users involved in the network..

Bubble dispute 

                  Bitcoin had been labelled as a speculative bubble during the odd times..Some of the people even declared as it is a mirage and can never be achieved and useful only for the drug dealers.. These disputes held on leading to a unidentified drawback for the bitcoin..


Ponzi Scheme issue

                         Some of the generalists declared it as a ponzi sheme where this scheme is nothing but the inventor pays off to the older investors by generating revenue from new investors..Even some of them declared it as a Pyramid scheme..but even the odds are going on laterallay many organisers are buying bitcoins for their clients..


Obituaries

                  In the year 2011 many of them declared that bitcoin is dead.Some of the magazines mentioned various dates leading to various expires..some of the developer also proclaimed it as a failure model ..


Reception

                   Some shown a positive response where others critisized it ..Officials in countries like brazil,UK,USA have recognised the power of bitcoin for providing its legitimate financial services..Even Polticians are attracted to finanacial matters of bitcoins.. when bitcoins are properly utilized many things are made at ease such as simplify transactions,transparency,eradication fake users ,many came to into an existence..

Financial institutions

                       These is major step taken by bitcoin , they have difficulty opened the traditional banks where the lenders had a worry of hacks and illicit ideas..several organisations turned their back towards bitcoins at the early ages which are pleasing it..Bank of america stated that bitcoin may become a competitor for the traditional currency..The first bank that made a transation in bitcoin was opened in boston..












       

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Wednesday, 20 December 2017

Is BITCOIN useful ??

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IS BITCOIN USEFUL :

IT'S FASTER THAN MANY TRANSACTIONS


                 When you do a money transaction through a bank or any other wallets the money will be held for many days by the bank and so its not trustable. By doing a bitcoin transactions the transfer can be instantaneous or maximum 10 minutes .If the transactions are zero confirmation that is merchant takes risk of accepting transaction that has not been confirmed by the blockchain.

NO INTERFERENCE OF GOVERNMENT

             Bitcoin is a crypto currency and it is decentralized that is no involvement of the central government and you own it. No government authority and no bank has control over these transactions.

BITCOIN TRANSACTIONS IS CHEAP

                      If you do any transaction using credit card or debit card a swipe fee or tax is charged but by using bitcoin, the transaction fee is minimum or some times free.

NO ONE CAN STEAL YOUR PAYMENT INFORMATION

                          When we do credit card transaction the bank asks for card number, expiry date and Cvv and it is less secure to think the way to do online business.But by doing bitcoin transaction the server does not ask any secret information instead requires two keys

~Public key
~Private key

                        Everyone can see the public key but no one can see the private key its confidential or secret.In bitcoin the transaction is done by combining the private and public key by applying a function.
Hence the transactions are secured.

ITS PRIVATE

                             Bitcoin transactions is like a plastic wallet with invisible owner.No one knows whose it is. Bitcoin is a private currency.

YOU CAN MAKE YOUR OWN MONEY

                      Most central governments take a fair view of producing your money own. In bitcoins it is encouraged.You can buy bitcoins or you can make your own if you have computing power.

BEST WAYS OF SPENDING YOUR BITCOIN :

~DONATION THAT IS FROWNED UPON

                           Some people feel tensed or shy to donate to some organizations.For these transactions bitcoin is best because by these transactions the identity of sender can be kept confidential.Government bans some organizations to accept funds by credit card or PayPal But some people want to support these organizations this is perfect time to use crypto currency because the identity of the sender can be kept secret.

~GAMBLING

                                As these transactions are decentralized no one knows the identity.We can use bitcoins in online gambling where people play from different countries and there is no use of credit or debit card.By using bit coins the transactions can be done by players all over the world.

~TRANSFERRING MONEY ACROSS THE GOVERNMENT GROUNDS OR LINES

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RISK OF BITCOINS

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BITCOIN RISKS..

Bitcoin is a virtual currency. but the currency is still infancy because no one knows Bitcoin is real? (or) not! .. Many of the people not believing in Virtual currency because its is eventually dissappear by this problem Bitcoin future is reflected in the volatility of price.And no shares have been issued to one who bought the bitcoin.

SEVERAL TYPES OF RISKS INVOLVED IN BITCOIN:
Regulatory Risk
Security Risk
Insurance Risk
Fraud Risk
Market Risk
Tax Risk

REGULATORY RISK:

                   Bitcoins became against to the government because as they are using for black market transactions and some of illegal activities. by this government may ban the Bitcoin or stop the usage of Bitcoin and to stop the sale of Bitcoins.and so many Rules have to come up to stop the Bitcoin.According to the (Financial Services Law Sections) that can able to to deal with the buy, sale, transfer and storage of Bitcoins to record the identity of customers.The transactions will be reported by them.

SECURITY RISK:

                      Bitcoin transactions are become the digital and virtual system and as they are risk from hackers and some the malware viruses causes effect them.if  a hacker enters and access to the Bitcoins user computer drive and able to steal the encryption key.Then he able to stole the bitcoins and transfer the bitcoin money to other ones. and there’s a way to protect the bitcoin is from the bitcoins have to stored in a computer drive which is not connected to the internet.
private keys and the info of the bitcoins have to be downloaded not to upload in the computer drive.and in 2014 an incident happens in japan that Bitcoins are stolen. when the Bitcoins are exchanging .more than millions of dollars worth of Bitcoins have been stolen.

INSURANCE RISK:
                       
                       May be some of the investments are insured from the corporation .they can handle upto limited amount depending upon the order by them. and Bitcoin are not insured and guaranteed by the government.

FRAUD RISK:

                  Many of them are try to sell the false Bitcoins  because the Bitcoins use the separate encryption key to verify its owner of the Bitcoin and their transactions. In the year of 2013 a legal action taken against the Bitcoin scheme.

MARKET RISK:

                      Bitcoin values and price fluctuates day by day. As the price increases more sometime and may decreases some time.Many of them are try to buy the Bitcoin and selling and exchanges through the Bitcoin as the in the year of 2013,The Bitcoin price suddenly fells upto 61% and the same as the next year it fells upto 80%.so there much loss in the market value.

TAX RISK:

                     By gaining money from the Bitcoin. we have to pay taxes for it. And it depends upon the income that you earned from the Bitcoin if we gains the Bitcoin in trading it will be traded as the business income and there are no legal options to protect the investment from the tax..
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Tuesday, 19 December 2017

BITCOIN WALLET AND TYPES

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Bitcoin wallets are of 4 types

~Hardware wallets
~Software wallets
~online wallets
~paper wallets

Software wallets require the download of software clients to use and create a wallets. Software wallets are also hot wallets that are available for both mobile and desktop platforms.

Online wallets are the easiest wallets to use among the different hot wallets.We can access this wallets in any device which has internet connection.But there are certain disadvantages like these wallets can be easily hacked because the private keys are stored on another server.Back in 2014 $460 million worth bitcoins were stolen by hackers from mtgox.

Paper wallets means printing private and public keys on a piece of paper.As your keys are printed on a paper these wallets are more secure than software and online wallets.There are some disadvantages as these paper wallets can be torn, damaged by water or in any way. So we should safeguard these copies in a locker or a place which is secured.

Hardware wallets are like cold storage devices that generate keys should be plugged into your device while making transactions.Hardware wallets are more secured because the keys are generated in the computer itself.These keys can be secured by creating a password. This is the most secured wallets of all the bitcoin wallets.

 Different bitcoin wallets for desktop, mobile, web and hardware.

Desktop
~Bitcoin knots
~Bitcoin core
~green address
~Arcbit
~Bitgo
~msigna
~Armory
~Bither
~Electrum

Mobile
~Mycelium
~Airbitz
~Arcbit
~Coinspace
~Greenaddress
~Simplebitcoin
~Bitcoin wallet
~Bither
~bread wallet
~Electrum
~Greenbits

Web
~Coinapult
~Green address
~Bitgo
~Coinspace

Hardware
~Trezor
~Digital bitbox
~Keepkey
~Ledger nanos

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HISTORY &GROWTH OF BITCOIN

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BITCOINS LEGACY..

2011
 one of Foundation started accepting the Bitcoins in the month of JANUARY named “Electronic Frontier Foundation”(EFF) by some of the reasons they stopped accepting the Bitcoins in the same year of JUNE .The decision of foundation is reversed and started accepting the Bitcoins in the year of 2013

 “ELECTRONIC FRONTIER FOUNDATION”  is a digital rights group that allows the individuals  to use,create,access and publish the digital media .The term digital rights is meant to be protection and realisation of existing rights.

As in the same year some of the organisations came across and started accepting the Bitcoins.A website named “WeUseCoins” posted a video about Bitcoin that goes viral over the world over 6+million views. and now it crosses across 7.9 million views.On the same year of December , Doulgas Feigelson of BItbills filed patent  for the application of “creating and using Digital Currency” with the United states  patent and Trade mark office and An action was taken on prior art.

2012

                        In this year the Bitcoin is the major subject that all are talking about and it trailed on the Television Programming Channel named “COLUMBIA BROADCASTING SYSTEM” (CBS) 
It is an American English Channel that broadcasts the legal drama called “THE GOOD WIFE” in that legal drama of the third season episode.The term and the topic about the Bitcoin arises. some of the cast and crew of the Drama played a role in the Courtroom scene that testifies that Bitcoin doesn’t consider as the digital currency .That’s there’s no Central bank to regulate it and function completely through the Computer based Networking system.And then in the same year of the september month.The“BITCOINFOUNDATION“started in Washington ..

                The foundation started to protect and promote and the use of Bitcoin. and they explained about what is cryptocurrency and Digital money and what is the use of it and benefits of the digital money.The founders of bitcoinare GavinAndersen (Softwaredeveloper) ,JobNations ,PatrickMuruck ,CharileShrem, Peter Vessenes.

2013


                            In the month of February CoinBase started selling the Bitcoins.As they sold 1$million worth of Bitcoins in a single month.The CoinBase is the payment processor company that is appointed by a merchant to handle all the transactions of the DEBIT AND CREDIT cards . and they are of two types front end and back end Front-end proccessors are have connections and settlement services to the merchant banks and Back-end accept the settlements from the Front-end The CoinBase company transactions formed across all over the world in 190 countries and the company grewed to millions of users in form of Block-Chain.and the employees and the share holders have the option to receive the salaries in the form of Bitcoin-currency

In the month of “APRIL” suddenly the Bitcoin exchange rate drops because of delaying and due to insufficient capacity from 266$ to $76. As the Bitcoin gained greater Recognition among some of the services like OkCupid and Foodler they began accepting the payment through Bitcoin.In may some of the accounts are seized due to they are not registered as the money transmitter account.

In the month of “MAY” A startup Company named BITINSTANT and they processed approximately 30percent of money going in and out of BitCoin and in the month  of april it made 30,000 transactions. As of january the website is not available for no reasons it displaying a blank page and blog also not available.

In the month of “JUNE” The US government  the 11.02 Bitcoins as a siezed asset and it is the first time that the government seized the Bitcoins

In the month of “JULY” In KENYA started a project that linking the Bitcoin with M-PESA it is an mobile based money transfer that can easily transfer the BitCoin through them and During the same month Foreign exchange administration and the department in thailand presenents a Lack of BitCoins and would therefore be illegal . and they are effectively banned in the country.

In the month “AUGUST” United states District Court for the Eastern District of Texas appeals to Fifth Circuit and its is established in February 1857 and ruled the Bitcoins are a Currency or a form of money and were subjected to court’s jurisdiction. and Germany’s finance ministry said Bitcoins under the term as a financial instrument and thought not as a e-money.

In the month of “OCTOBER”  The FBI seized 26000 Bitcoins from the Online Black Market  and the first darknet market named “SILK ROAD” and a platform of selling illegal drugs the FBI seized the BIitCoins and the arrest of alleged owner of    “ROSS WILLIAM” and then two companies launched the world’s first BitCoin ATM. and they are allowing the customers and employees allowing to sell or purchase the BitCoins and then Chienese Internet named “BAIDU” web services company started website security services to pay with the BitCoins.

In the month of “NOVEMBER” on of the university in CYRUS named “UNIVERSITY OF NICOSIA” started accepting  the BitCoins for the Tuition Fee and the CFO of university called them as “Gold of Tomorrow” and then worlds second highest Bitcoin exchange company started trading exchange by the trade volume and the BITSTAMP to become the largest BitCoin.

In the month of “DECEMBER”  an American internet retailer head quartered in MIDVALE,UTAH near SALK LAKE CITY. announced the plans to accept the Bitcoin and the A bank in china prohibited Bitcoins from the chinese institutions and then the Bitcoin value is dropped and web technologies Baidu also stops accepting the Bitcoins for some of the services. As they reported that buying the real-world goods through the virtual currency has been illegal.


2014
            

                                       This year  is full of testings where bitcoins are accepted in casinos and few restaraunts started ..In Feb the one of the biggest exchange withdrawed from bitcoin due to its technical issues  where bankruptcy happened leading to a great loss of 744000 bitcoins are stolen..

     In june the network of bitcoin has been exceeded and even made sponsorship with st.Petersburg Bowl for two years and this mainly concentrates on using bitcoins..later the most reputed organisation Dell also started using bitcoins..
  
         Finally in december microsoft showed intrest in bitcoin and later a movie titled "Raise of bitcoin "was released featuring the programmer and drug dealer..


2015


          At starting of the year the value of the coin base is raised over 75 million USD by an expected smash to previous record of the company . In this year the bitcoin also proposed the offline transactions which resulted into a hack of 19,000 bitcoins from their hot wallet , that directed into lose of customer funds..overcoming this issue bitcoin made a entry in trading on 9th january by making people believe in regards of safety..


         Finally during march it suddenly raised 116 million USD in venture funding which is the biggest money ever in digital currency history ..where this continued till august where nearly 15000 merchants accepted bitcoin payments..

        One of the most renknown Barclays announced that they would become the first resource of accepting bitcoins , the main motto of them is for their charitable donations using the crypto currency and these both patnered during may with payment model start up of circle internet financial.. later by the end of the year bitcoin symbol was proposed..

2016

                       This is the year where the world has come to know about bitcoin.. In the starting of the year the rate of bitcoin increased where japan realized that bicoin is making something that is similar to real currency.. More over Steam started accepted bitcoins..

 when coming to other organisations BitFinex was hacked and nearly 1,00,000 Bitcoins were stolen.. Many apps are using bitcoins for their transcations even in railways..

 Google also drive special articles for bitcoin and their spreading goes rapidly ..Ledger also published its first article regarding bitcoin.. during this year uber shifted to due to credit cards blockage..




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Monday, 18 December 2017

CRYPTOCURRENCY-BITCOIN

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                         The word CryptoCurrency (Digital money)is originated to act as a intermediate between two transactions and secure them.. It also controls the creation of additional units which leads to Unsafety of transaction, These currencies are classified into alternative and virtual currencies where alternative deals with linkage of other encrypted portals or transactions where as virtual deals with virtual memory where money is said to be transferred among certain virtual groups..CC is nothing but electronic money where the money seen in virtual but not in hands..

            

                  Cryptography generally refers to abstraction of information or hiding it..Generally it is known to be a mixture of mathematics,computer and electrical engineering..This method is used everywhere that needs to be protected like ATM's , Online transactions, etc.. This method is isn't a secret but its protected this matters because the use of different keywords makes it protected.. These method contains Symmetric and ASymmetric methods.. Symmetric method goes on between sharing of code between two people where as ASymmetric one deals with a code that resides only with a person and can access his/her property anywhere over the globe like ATM..

                     Crypto general means encrypted ones where only the authorized user can see it no one can gain access over it .. Encrypted ones never goes in handy with anyone where as UnEncrypted ones never have a privacy thing.. Encrypted ones are safe to use anywhere where as UnEncrypted ones come across thinking issues.

               Currency is nothing but money where one uses to satisfy themselves,currency changes among countries and values too.Currency may be virtual, real or sometimes fake,, the currency acts like medium of exchange of money or coins,where the great currency leads to great income.. The currency value of many countries vary like dollar,rupee,euro,etc..

       
                   When it comes to Bitcoin it follows CryptoCurrency where Cryptology is followed. It is the largest network that follows this system where real money is never used..Bitcoin is originated and supports CryptoCurrency.. This CC is highly secured and cannot be hacked by anyone unless by our own mistake.. The other organisations that follows CryptoCurrency are LiteCoin ,Ethereum ,Zcash ,Dash ..where CC plays a major role in these too.. these are also linked with bitcoin.

                   To know more about the information regarding bitcoin ..  GO for the button below there..








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ORIGIN AND INFO OF BITCOIN

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                                        Bitcoin is a cryptocurrency (or) digital money and Bitcoin was invented by an unknown person named Satoshi nakamoto .The date of introduction of Bitcoin is 3January2009

                     It works without a central bank or any administrator.and a unique currency which can be used everywhere in the world. It is the main advantage of bitcoin.On 18 August 2008, the domain name “bitcoin.org” was registered. In November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin and implemented the bitcoin software as open source code and released it in january 2009.

 TRANSACTIONS

         The Bitcoin transactions are by network nodes and recorded in a ledger called “BlockChain”.There are lots of users using the Digital money wallets. According to research produced by the University of Cambridge estimates that in 2017 ,There are 2.9 to 5.8million unique users using a digital money wallet and most of them are using Bitcoin.

                      The price of Bitcoin may increase (or) decrease.Some times it is more greater than gold  In 2014 ,Bitcoin has volatility seven times greater than gold and 18 times greater than US dollar.Sometimes unable to covert bitcoin to cash quickly enough as the price declined and there might force the bitcoin price down further.. Bitcoin Transactions are irreversible..So do business with trusted organizations By using bit coins we can do world wide payments with low processing fee Bitcoin value can unpredictably increase or decrease ..It is experimental new currency which is under active development ..BITCOIN is a crypto currency which is unofficial 

                     Current price of 1 Bitcoin is  1224109.13 Indian rupees 18978 usd but varies time to time Bit coins are peer to peer transactions.There are two things you need to know of Bitcoin process  this include mining and block chaining.
                   

BLOCK CHAINING

               It is the chain process of all ledger transactions across the networks.By using this technology.participants can confirm transactions without certifying authority.

                       If someone requests a transaction.the requested transaction is broadcast to a peer to peer network consisting of computers and also known as nodes and the network of nodes validates the transaction and users status and the verified transaction can involves the cryptocurrency and once the verified transaction is completed then its combined with the other transaction and creates a new block of data and then new block is then added to the existing block chain and then transaction is complete. Benefits includes increased transparency,accurate tracking,permanent ledger,cost reduction..

MINING         

            Mining means the process by which the bitcoin transactions are added and verified.Mining process involves compiling of recent transactions into blocks.The hardware ASIC(APPLICATION SPECIFIC INDICATED CIRCUIT).Was designed for mining Bitcoin and was released in 2003 and have been improved upon since..But in Older days mining was done by CPU's and GPU'S .CPU's are used from normal computer.gpus are more effective than CPU's and eventually GPUs became dominant.mining is competitive and today can only be done with the latest ASICs profitably.the revenue generated is less than cost of energy consumption.
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