Dec 10, 2015

Bitcoin is a cryptocurrency where the creation and transfer of bitcoins is based on an open-source cryptographic protocol that is independent of any central authority. Bitcoins can be transferred through a computer or smartphone without an intermediate financial institution. The concept was introduced in a 2008 paper by pseudonymous developer Satoshi Nakamoto, who called it a peer-to-peer, electronic cash system.
The processing of Bitcoin transactions is secured by servers called bitcoin miners. These servers communicate over an internet-based network and confirm transactions by adding them to a ledger which is updated and archived periodically using peer-to-peer filesharing technology (same as "Torrenting"). In addition to archiving transactions, each new ledger update creates some newly minted bitcoins. The number of new bitcoins created in each update is halved every 4 years until the year 2140 when this number will round down to zero. At that time no more bitcoins will be added into circulation and the total number of bitcoins will have reached a maximum of 21 million bitcoins. To accommodate this limit, each bitcoin is subdivided down to eight decimal places; forming 100 million smaller units called satoshis per bitcoin.
Bitcoin is accepted in trade by merchants and individuals in many parts of the world. Like other currencies, illicit drug and gambling transactions constitute some of its commercial usage. Although the bitcoin is promoted as a digital currency, many commentators have criticized the bitcoin's volatile exchange rate, relatively inflexible supply, high risk of loss, and minimal use in trade.


https://bitcoin.org/en/getting-started
https://en.bitcoin.it/wiki/Help:FAQ
https://en.bitcoin.it/wiki/Myths#Bitcoin_is_just_like_all_other_digital_currencies.3B_nothing_new
http://howtobuybitcoins.info/#!/





BitCoin Price Ticker & History
Preev.com
BitCoinCharts.com
Bitcoinity.org

 

Dec 10, 2015

Forbes declared bitcoin "dead" in June 2011, followed by Gizmodo Australia in August 2011. Wired magazine wrote it had "expired" in December 2012, Ouishare Magazinedeclared, "game over, bitcoin" in May 2013, and New York Magazine stated bitcoin was "on its path to grave" in June 2013. Reuters published an "obituary" for bitcoin in January 2014 Street Insider declared bitcoin "dead" in February 2014, as did The Weekly Standard in March 2014, followed bySalon in March 2014, and Vice News in March 2014, then the Financial Times in September 2014. In January 2015, USA Today states bitcoin was "headed to the ash heap", and The Telegraph declared "the end of bitcoin experiment".

 

Dec 10, 2015

Well if the mainstream publications say it, it must be true. Rumours of it's death have been greatly exaggerated.

 

Dec 10, 2015

I'm quoting Forbes and The Financial Times. You're quoting the "Director of E-Business Development for the Isle of Man" lol. The get rich quick scheme is over.