I got bitcoin wiki

Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto [11] and released as open-source software in Bitcoins are i got bitcoin wiki as a reward for a process known as mining. They can be exchanged for other currencies, [13] products, and services. As of Februaryovermerchants and vendors accepted bitcoin as payment. The i got bitcoin wiki bitcoin first occurred and was defined in the white paper [5] that was published on 31 October There is no uniform convention for bitcoin capitalization.

Some sources use Bitcoincapitalized, to refer to the technology and network and bitcoinlowercase, to refer to the unit of account. The unit of account of the bitcoin system is a bitcoin. Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.

As with most new symbols, font support is very limited. Typefaces supporting it include Horta. I got bitcoin wiki 18 Augustthe domain name "bitcoin. In Januarythe bitcoin network came into existence after Satoshi Nakamoto mined the first ever block on the chain, known as the genesis block. This note has been interpreted as both a timestamp of the genesis date and a derisive comment on the instability caused by fractional-reserve banking.

The receiver of the first bitcoin transaction was cypherpunk Hal Finneywho created the first reusable i got bitcoin wiki system RPOW in In the early days, Nakamoto is estimated to have mined 1 million bitcoins.

So, if I get hit by a bus, it would be clear that the project would go on. Over the history of Bitcoin there have been several spins offs and deliberate hard forks that have lived on as separate blockchains. These have come to be known as "altcoins", short for alternative coins, since Bitcoin was the first blockchain and these are derivative of it.

These spin offs occur so that new ideas can be tested, when the scope of that idea is outside that of Bitcoin, or when the community is split about merging such changes.

Since then there have been numerous forks of Bitcoin. See list of bitcoin forks. The blockchain is a public ledger that records bitcoin transactions. A novel solution accomplishes this without any trusted central authority: The blockchain is a distributed database i got bitcoin wiki to achieve independent verification of the chain of ownership of any and every bitcoin amount, each network node stores its own copy of the blockchain.

This allows bitcoin software to determine i got bitcoin wiki a particular bitcoin amount has been spent, which is necessary in order to prevent i got bitcoin wiki in an environment without central oversight.

Whereas a conventional ledger records the transfers of actual bills or promissory notes that exist apart from it, the blockchain is the only place that bitcoins can be said to exist in the form of unspent outputs of transactions. Transactions i got bitcoin wiki defined using a Forth -like scripting language. When i got bitcoin wiki user sends bitcoins, the user designates each address and the amount of bitcoin being sent to that address in an output.

To prevent i got bitcoin wiki spending, each input must refer to a previous unspent output in the blockchain. Since transactions can have multiple outputs, users can send bitcoins to multiple recipients in one transaction. As in a cash transaction, the sum of inputs coins used to pay can exceed the intended sum of payments.

In such a case, an additional output is used, returning the change back to the payer. Paying a transaction fee is i got bitcoin wiki. Because the size of mined blocks is capped by the network, miners choose transactions based on the fee paid relative to their storage size, not the absolute amount of money paid as a fee. The size of transactions is dependent on the number of inputs used to create the transaction, and the number of outputs. In the blockchain, bitcoins are registered to bitcoin addresses.

Creating a bitcoin address is nothing more than picking a random valid private key and computing the corresponding bitcoin address. This computation can be done in a split second. But the reverse computing the private key of a given bitcoin address is mathematically unfeasible and so users can tell others and make public a bitcoin address without compromising its corresponding private key. Moreover, the number of valid private keys is so vast that it is extremely unlikely someone will compute a key-pair that is already in use and has funds.

The vast number of valid private keys makes it unfeasible that brute force could be used for that. To be able to spend the bitcoins, the owner must know the corresponding private key and digitally sign the transaction. The network verifies the signature using the public key. If i got bitcoin wiki private key is lost, the bitcoin network will not recognize any other evidence of ownership; [9] the coins are then unusable, and effectively lost.

Mining is a record-keeping service done through the use of computer i got bitcoin wiki power. To be accepted by the rest of the network, a new block must contain a so-called proof-of-work PoW. Every 2, i got bitcoin wiki approximately 14 days at roughly 10 min per blockthe difficulty target is adjusted based on the network's recent performance, with the aim of keeping the average time between new blocks at ten minutes. In this way the system automatically adapts to the total amount of mining power on the network.

The proof-of-work system, alongside the chaining of blocks, makes modifications of the blockchain extremely hard, as an attacker must modify all subsequent blocks in order for the modifications of one block to be accepted. Computing power is often bundled together or "pooled" to reduce variance in miner income. Individual mining rigs often have to wait for long periods to confirm a block of transactions and receive payment.

In a pool, all participating miners get paid every time a participating server solves a block. This payment depends on the amount of work an individual miner contributed to help find that block. The successful miner finding the new block is rewarded with newly created bitcoins and transaction fees. To claim the reward, a special transaction called a coinbase is included with the processed payments. The bitcoin protocol specifies that the reward for adding a block will be halved everyblocks approximately every four years.

Eventually, i got bitcoin wiki reward will decrease to zero, and the limit of 21 million bitcoins [f] will be reached c. Their numbers are being released roughly every ten minutes and the i got bitcoin wiki at which they are generated would drop by half every four years until all were in circulation.

A wallet stores the information i got bitcoin wiki to transact bitcoins. While wallets are often described as a place to hold [60] or store bitcoins, [61] due to the nature of the system, bitcoins are inseparable from the blockchain transaction ledger. A better way to describe a wallet is something that "stores the digital credentials for your bitcoin holdings" [61] and allows one to access and spend them. Bitcoin i got bitcoin wiki public-key cryptographyin which two cryptographic keys, one public and one private, are generated.

There are three modes which wallets can operate in. They have an inverse relationship with regards i got bitcoin wiki trustlessness and computational requirements.

Third-party internet i got bitcoin wiki called online wallets offer similar functionality but may be easier to use. In this case, credentials to access funds are stored with the online wallet provider rather than on the user's hardware. A malicious provider or a breach in server security may cause entrusted bitcoins to be stolen. An example of such a security breach occurred with Mt. Physical wallets store offline the credentials necessary to spend bitcoins.

Another type of wallet called a hardware wallet keeps credentials offline while facilitating transactions. The first wallet program — simply named "Bitcoin" — was released in by Satoshi Nakamoto as open-source code.

While a decentralized i got bitcoin wiki cannot have an "official" implementation, Bitcoin Core is considered by some to be bitcoin's preferred implementation. Bitcoin was designed not to i got bitcoin wiki a central authority [5] and the bitcoin network is considered to be decentralized.

In mining pool Ghash. The pool has voluntarily capped their hashing power at Bitcoin is pseudonymousmeaning that funds are not tied to real-world entities but rather bitcoin addresses. Owners of bitcoin addresses are not explicitly identified, but all transactions on the blockchain are public. In addition, transactions can be linked to individuals and companies through "idioms of use" e.

To heighten financial privacy, a new bitcoin address can be generated for each transaction. Wallets and similar software technically handle all bitcoins as equivalent, establishing the basic level of fungibility.

Researchers have pointed out that the history of each bitcoin is registered and publicly available in the blockchain ledger, and that some users may refuse to accept bitcoins coming from controversial transactions, which would harm bitcoin's fungibility.

The blocks in the blockchain were originally limited to 32 megabyte in size. The block size limit of one megabyte was introduced by Satoshi Nakamoto inas an anti-spam measure. On 24 August at block, Segregated Witness SegWit went live, introducing a new transaction format where signature data is i got bitcoin wiki and known as the witness. The upgrade replaced the block size limit with a limit on a new measure called block weightwhich counts non-witness data four times as much as witness data, and allows a maximum weight of 4 megabytes.

Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. The question whether bitcoin is a currency or not is still disputed. According to research produced by Cambridge Universitythere were between 2. The number of users has grown significantly sincewhen there wereto 1.

Inthe number of merchants accepting bitcoin exceededReasons for this fall include high transaction fees due to bitcoin's scalability issues, long transaction times and a rise in value making consumers unwilling to spend it. Merchants accepting bitcoin ordinarily use the services of bitcoin payment service providers such as BitPay or Coinbase.

When a customer pays in bitcoin, the payment service provider accepts the bitcoin on behalf of the merchant, converts it to the local currency, and sends the obtained amount to merchant's bank account, charging a fee for the service.

Bitcoins can be bought on digital currency exchanges. According to Tony Gallippia co-founder of BitPay"banks are scared to deal with bitcoin companies, even if they really want to". In a report, Bank of America Merrill Lynch stated that "we believe bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money-transfer providers.

Plans were announced to include a bitcoin futures option on the Chicago Mercantile Exchange in Some Argentinians have bought bitcoins to protect their savings against high inflation or the possibility that governments could confiscate savings accounts.

As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay i got bitcoin wiki or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.

The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to i got bitcoin wiki spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography. A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain.

Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come i got bitcoin wiki the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining.

Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order i got bitcoin wiki the block chain, protects the neutrality i got bitcoin wiki the network, and allows different computers to agree on the state of the system.

To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network.

These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends. This is only a very short and concise summary of the system.

If you want to get into the details, you can read the original paper that describes the system's design, read the developer documentationi got bitcoin wiki explore the Bitcoin wiki. How does Bitcoin work? This is a question that often causes confusion.

Here's a quick explanation! The basics for a new user As a new user, you can get started with Bitcoin without understanding the technical details. Balances - block chain The block chain is a shared public ledger on which the entire Bitcoin network i got bitcoin wiki. Transactions - private keys A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain.

Processing - mining Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain.

Going down the rabbit hole This is only a very short and concise summary of the system.

Wiki comes from a Hawaiian word that stands for "fast" or "quick". Wiki Bitcoin gives you a quick overview of the most important Bitcoin related knowledge sources. Some of these sources are Wikis like Wikipedia. Hence the name of this site Wiki Bitcoin. The dedicated Bitcoin Wiki is probably the most comprehensive resource about Bitcoin.

It covers many aspects. There are introductory articles as well as in-depth technological entries. Moreover, many interesting economic aspects of Bitcoin are covered. Even experienced Bitcoin Wiki useres sometimes stumble on articles they find interesting but haven't seen before. Here is a list of a few selected articles that are good entry points for the various Bitcoin aspects. The Bitcoin Wiki can be edited by any user.

The only requirement is to pay a small Bitcoin fee to prevent spamming of the Wiki. While StackExchange and reddit are not a Wikis, they have some characteristics of a Wiki. StackExchange is a network of question and answer sites. The knowledge provided there is therefore related to specific questions. Therefore it makes a great Bitcoin Wiki complement. Once you started to get involved here, you will become a Bitcoin pro pretty soon.

The number of posts here is huge and hard to follow on a daily basis. But it's definitely a good resource when you search it for particular topics of your interest. Besides the Bitcoin Wiki entries, there is a number of blogs that are relevant. Wiki Bitcoin shows you, which are the most popular Bitcoin blogs to stay up to date. All of these blogs offer RSS feeds which makes it easy to follow them and never miss a good i got bitcoin wiki.

The blogs are listed in i got bitcoin wiki order. Wiki Bitcoin doesn't claim to say which blog is better or more relevant. If a blog is listed here it means the i got bitcoin wiki does have a certain level of quality. This list provides links to Bitcoin charts on various sites. Most of them are price related and provide good Bitcoin trading support. The following links don't perfectly fit into other categories of this site. They are however interesting sources for analysis and information.

Wiki Bitcoin - Your Bitcoin knowledge sources Wiki comes from a Hawaiian word that stands for "fast" or "quick". Bitcoin Wiki entries Wikipedia Bitcoin:: This is the main Wikipedia entry.

It gives a good introduction into what Bitcoin is. This is your go to place for a first overview on Bitcoin. Since knowledge accumulation about Bitcoin has grown, so i got bitcoin wiki Wikipedia. Therefore two other directly Bitcoin related entries exist.

From a technological point of view Bitcoin is a protocol. That's exactly what this article covers. It's an overview about the technological building blocks of Bitcoin. Bitcoin exists since January Since then some notable things happened around this digital currency.

This Wikipedia entry records the most important historical Bitcoin events. Your entry point to the Bitcoin Wiki. Answers to the i got bitcoin wiki frequently asked questions. A lot of software is developed on top of Bitcoin. This is a good overview of what already exists. Today Bitcoin mining is mostly done by professionals. Hardware requirements to do Bitcoin mining have become too demaning.

However, if you want to know what mining is and how to get started, this is the place to go. The easiest way to get answers to your questions are I got bitcoin wiki forums. Here is a list of them. The most frequented Bitcoin forum is probably bitcointalk. A comprehensive list of Bitcoin exchanges. Currently, new Bitcoin merchant directories come up almost on a daily basis. While there are some useful directories, the Trade section of the Bitcoin Wiki is probably still the best.

Another reason to come back to the Wiki every once in a while. This is the best way to find places where you can spend your Bitcoins. How to accept Bitcoin, for small businesses:: If you have a small business and consider the integration of Bitcoin is a means of payment this is your article. It's just great how simple it is. Once you have set up everything to accept Bitcoins, you need to get noticed. Promotional graphics help your customers to notice your Bitcoin integration - online and offline.

Again, everything is free. The Bitcoin Wiki has all the info and resources you need. From an economic point of view the limited Bitcoin supply is one of the most interesting aspects. This entry explains the supply of Bitcoins over time. An in-depth article that is based on the knowledge about limitied Bitcoin supply is Bitcoin money supply and money creation. This Bitcoin Wiki entry introduces some of the most exciting future Bitcoin use cases. Besides being a payment network, Bitcoin offers many new opportunities.

If you are interested in building new services based on the Bitcoin protocol, start with this entry. It gives you some creative ideas that you can take from here.

Bitcoin blogs Besides the Bitcoin Wiki entries, there is a number of blogs that are relevant. Covers finance and banking related topics of Bitcoin. The blog is published by Bitcoin peer-to-peer lending platform Bitbond. Articles are published on a weekly basis. The site also i got bitcoin wiki a great bitcoin affiliate program. A well written blog with up to date news about Bitcoin. Publishes articles almost daily.

One of my favorite daily Bitcoin blogs. A good mix i got bitcoin wiki relevant Bitcoin news and trivia. The Bitcoin Foundation i got bitcoin wiki a lobby for Bitcoin users and businesses. Their blog covers topics of larger meaning to Bitcoin itself. Also, they have a quarterly grant which they always announce on this blog.

And that's what it is - a well written blog from the perspective of a user. The Magazine was probably one of the first Bitcoin publications. They even have a printed paper issues that you can buy on Amazon. The blog publishes articles daily. The head-writer Vitalik Buterin has tremendous in-depth knowledge about a wide range of Bitcoin related topics. It is not just a good i got bitcoin wiki for Bitcoin news but also for in-depth articles on every aspect of Bitcoin.

Network status and alerts:: This one is not exactly a blog. But it's probably the best way to learn about Bitcoin related network issues as fast as possible. The RSS feed would let you know if there is a network problem. This is crucial if you rely on Bitcoin as a technology on a daily basis. A blog which is more about the political i got bitcoin wiki of Bitcoin.

A German blog that covers mainly economics i got bitcoin wiki Bitcoin topics. Some of the articles are translations of the author's articles from English to German.

Articles and analyses about a wide range of mostly technological Bitcoin topics. This is the blog of Bitcoin Exchange Berlin - a monthly physical exchange where people buy and sell Bitcoins.