What exactly is Bitcoin and how does it work?
I've heard of a new currency which is not country specific but is being used online to make payements. Its called Bitcoin, but I have no idea how to use it and how you make it work. Do you know more about it?
I investigated it a year or so ago as an online game I played switched to only accepting bitcoins and no longer paypal payments as the game designer was so convinced it was the future.
However the way one generates bitcoins or "mines" them is having a computer running a background program. This has led to people setting up entire houses with overclocked (pushed to their limits) computers inside.
We live in a world with a very large power crisis looming and still rely very heavily on non-renewables, the idea that someone would then create a "currency" that gets hundreds of thousands of computers around the world "working" on abosolutely nothing. wasting so much power and computer life so they can get a few "coins".
I remember the Seti@home project which was similar except the computers processing was used to help search for ET, analyzing results from hubble etc.. Bitcoins processing is pointless, its just wearing computers out for no reason.
I wouldn't be suprised to find out the CPU / GPU manufacturers had helped back Bitcoins, they must've been rubbing their hands together in glee when they read how it worked.
Very interesting (you mean like virus software companies funding hackers to manufacture viruses they can protect us from?) but I for one still don't understand exactly how they are created and how they work.
So you need to keep your computer on to generate Bitcoins? No payments needed? I'm still a bit confused about the whole thing.
This is a new currency for peer to peer normally abbreviated as a p2p. You need not worry about it as its quite new, but will soon catch up in the next 2 decades. Its mainly a virtue money which marketers can use to buy and do sales with in the internet- just like the dollar($), euro,yen,ksh,pound (£). For instance, say you want to buy a domain,you visit namecheap and as they are among the first companies accepting this currency, they will let you pay with bitcoin if you want. By 2040, it might be the most popular currency. For more info google or visit namecheap. Let me know if you need a link to more info
by Dean Walsh 6 years ago
Since we hubbers are making our money here digitally, it would be great if Hubpages could send us payments from the ad program in digital currency using Bitcoin, or even better Ripple.Either of these would have lower transaction costs for Hubpages compared to paypal (Ripple is cheapest, at around...
by Katee Shew 6 years ago
Can someone properly explain Bitcoins to me?If you were a beginner like me, what kind of bitcoins should I buy and how do I buy them?
by Janis Leslie Evans 5 years ago
What is bitcoin?I just heard of this a few days ago. Is anyone familiar with its function, purpose, use, and risks?
by Brie Hoffman 2 years ago
There is a new social media site where you can post articles and photo's called steemit.com and you can make a good amount of money on it.
by Jose Juan Gutierrez 3 years ago
What do you know about bitcoins?Have you earned bitcoins on a site? If so, what can you tell about bitcoins?
by Jack Lee 2 years ago
The value of Bitcoin, a digital currency, has just passed the $10,000 mark.It has increased in value by 10 folds in just one year...Is this a super bubble or a legitimate investment class?
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