17 Apr 2024 05:43:22
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Bitcoin (BTC) is the first and largest online asset by market cap. It was invented by "Satoshi Nakamoto" on January 3, 2009. Bitcoin can be stored & transferred securely by using digital ledger technology known as a blockchain. Bitcoins are divisible into smaller units called Satoshi. Each Satoshi is worth 0.00000001 Bitcoin.
Why BTC is Unique
- The first crypto asset to pioneer and appear on the market
- Gave birth to an entirely new industry, the crypto industry
- The most prominent crypto asset with a market cap exceeding $1 trillion in 2021
What Affects The Price of BTC?
- Market's supply and demand
- Available supplies
- Bitcoin mining process fee
- Regulations on its sale and use
What Gives BTC Value?
- The first decentralized, peer-to-peer crypto asset
- There will only ever be 21 million Bitcoins
- Bitcoin operates by open-source code and is globally transparent
How Secure Is The BTC Network?
The SHA-256 algorithm, which belongs to the SHA-2 family of hashing algorithms, secures Bitcoin and its fork, Bitcoin Cash (BCH). Bitcoin is the most secure computing network in the world.
FAQ
Who owns the most bitcoins?
Many believed Satoshi Nakamoto had around 1.1 million BTC that they had never touched throughout the years.
Is Bitcoin bad for the environment?
A significant percentage of bitcoin mining (40-75%) uses renewable energy (wind, solar, hydro, etc.) instead of traditional energy sources that are bad for the environment.
How long will Bitcoin last?
Bitcoin and blockchain technology introduce solutions for real-world issues, for example, helping the unbanked population, combat counterfeiting, and improving cross-border transactions. Bitcoin is likely to stay and continue to disrupt other sectors
What Is Bitcoin Mining?
Bitcoin mining is the process where miners solve cryptographic puzzles from each transaction on the Bitcoin blockchain. Miners receive BTC for solving cryptographic puzzles, and transactions are recorded in blocks that get added to the blockchain.
