Blockchain is a data structure that enables the creation of a digital ledger of transactions and shares it within a distributed network of computers. It utilizes cryptography to allow each participant on the network to use the ledger in a secure way without a central authority. Once a block of data is recorded and placed … Continue reading How Blockchain Benefits Security
In short-term - nothing. Long term impact exists, especially if we observe huge number of cases and not each one individually. So, what happens? Let’s start with facts: Number of Bitcoins is limited to 21 million (currently we have almost 17 million mined and in circulation) Every day, certain number of Bitcoins is lost due … Continue reading The Impact on the Bitcoin Economy When You Lose Your Bitcoin Wallet
GBTC is not the best method for investing in Bitcoin. Nowadays, their premium is high. Basically, NAV (net asset value) is not very good these days which means people should avoid investing through GBTC at least until it comes to the better ratio. What is NAV? It is a very significant index for open-end mutual … Continue reading Is GBTC an Easy Way to Invest in Bitcoin?
A decentralized currency like Bitcoin can do much good for people of Africa. Bitcoin could provide a reasonable way for Africans to trade outside their traditional ways and outside their countries. Also, it could encourage people to invest money in countries of Africa through fast and simple channels like cryptocurrency networks. So, how is Bitcoin … Continue reading How Bitcoin is Used in Africa
Yes, you may do bitcoin Mining with an entry-level laptop. Bitcoin mining with a laptop might not necessarily be profitable, but it is plausible meaning it can be done. Bitcoin mining can be done with computers as simple as a raspberry pi but it most probably isn’t going to be profitable. Here are a couple of Videos that … Continue reading Bitcoin Mining with Basic PC Hardware
Paytm is different than Bitcoin in a couple of ways. Going by a layperson’s view whose sole intention is to transfer value in the form of respective currencies within respective ecosystems, PayTM and Bitcoin are slightly different, however from technical standpoint, it is entirely different. Here are some of the major differences that arise with respect … Continue reading Difference Between Paytm and Bitcoin
Yes, you certainly can. There are numerous ways you can go about implementing this. I shall be listing 3 major ones. Using Bitcoin/Ethereum Protocol: Since both ethereum and Bitcoin are open source, you should be able to obtain their source code, tweak it in a way that it doesn’t attempt to sync with the Main bitcoin/ethereum … Continue reading Can You Create a Private Blockchain on Your Computer?
Yes. There is no legally binding document that prevents two people from engaging in the voluntary trade of assets for a price, as long as taxes are paid. Bitcoin underwent a similar situation.Majority of Bitcoin was premined by Satoshi Nakamoto and a couple of other miners that got early into the Bitcoin game. The identity of … Continue reading Is it Legal to Sell Large Amounts of Premined Cryptocurrency?
The mechanism behind Bitcoin's reliability is quite simple. Since entire Bitcoin network is a decentralized system, there is no chance for the complete breakdown. There is no chance for all blocks to stop. So, what happens? If it becomes unprofitable in some moment, there will be more mining potential. With any decrease, there will be … Continue reading How Reliable are Bitcoin Transactions?
Is it safe in which way? Short-term, long-term? Safe as not illegal? Safe as secure from hackers? Since I don’t know what you meant I’ll answer on all of these questions. Investing in Bitcoins always carries its risks, of course. I'll divide them in different risk types and explain them below. Market Risk: Just like … Continue reading How to Safely Invest in Cryptocurrencies