Find out all the latest breaking bitcoin news. Browse bitcoin news with regards to business, technology and company regulations of bitcoin around the world. You can also find out about the latest news about cryptocurrency and bitcoin start-ups that have recently come into existence. We report on bitcoin exchanges, merchants, regulation, mining and prices. Make sure you check back to find out how bitcoin can impact on the world economy, personal finance, money markets, real estate and more.
Bitcoin is a cryptocurrency and worldwide payment system. The system works without a central bank or single administrator, therefore is the first decentralized digital currency. It was created back in 2009 by an unknown founder who goes by the name of Satoshi Nakamoto. The original goal of the creation was to form a new electronic cash system that was completely decentralized with no server or central authority in any country.
Bitcoins are created following a process known as mining. After mining or either buying bitcoin from an individual or through an exchange, they can be exchanged for other currencies, products, and services. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes using cryptography and recorded in a public distributed ledger called a blockchain.
An additional benefit to using the bitcoin is that international payments are easy and cheap because they are not tied to any country or subject to regulation. Small businesses are starting to like them because there are no credit card fees.
Some people buy bitcoins as an investment, hoping that they’ll go up in value, whereas others use them to make trades. Bitcoins are stored in a digital wallet, a specially-designed program that you own and store your Bitcoin, the same way a regular wallet would store your cash.