Bitcoin for Beginners
Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.It is a decentralized digital currency without a central bank or single administrator that can be sent from user to Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. Bitcoin has been praised and criticized. Critics noted its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.It is a decentralized digital currency without a central bank or single administrator that can be sent from user to Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. Bitcoin has been praised and criticized. Critics noted its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
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REFERENCES
NMC - Namecoin
https://alpari.com/en/beginner/glossary/na
mecoin/#:~:text=Namecoin%20was%20the%2
0second%20decentralised,which%20are%20a
dministered%20by%20ICANN).
Nxt - NXT,
https://en.wikipedia.org/wiki/Nxt#:~:text=Nxt
%20is%20an%20open%20source,%2C%20unlik
e%20bitcoin%2C%20no%20mining.
POT - PotCoin,
https://www.investopedia.com/terms/p/po
tcoin.asp#:~:text=What%20Is%20Potcoin%20Di
gital%20Currency,the%20burgeoning%20legal
%20cannabis%20industry.
PPC - Peercoin,
https://www.investopedia.com/terms/p/pe
ercoin.asp#:~:text=DEFINITION%20of%20Peer
coin,in%20terms%20of%20market%20capitali
zation.
TIT - Titcoin
https://en.wikipedia.org/wiki/Titcoin#:~:text=
Titcoin%20(Ticker%20Symbol%3A%20TIT),unit
s%20while%20simultaneously%20processing
%20transactions.
USDC - USD Coin (stablecoin),
https://cryptonews.com/coins/usdcoin/#:~:text=USD%20Coin%20(USDC)%20is%
20a,pegged%20to%20the%20US%20dollar.&te
xt=USDC%20is%20an%20alternative%20to,the
%20internet%20and%20public%20blockchains
.
USDT - Tether,
https://www.investopedia.com/terms/t/teth
erusdt.asp#:~:text=DEFINITION%20of%20Tether
%20(USDT),in%20a%20designated%20bank%2
0account.
VTC - Vertcoin,
https://blog.coinpayments.net/coinspotlight/vertcoin
XEM - NEM,
https://www.bitdegree.org/crypto/tutorials/
nem-price-prediction
XLM - Stellar,
https://personalfinancial.com/2020/08/21/what-is-stellarlumens-xlm-cryptocurrencies/
XMR - Monero,
https://en.wikipedia.org/wiki/Monero_(crypt
ocurrency)
XPM - Primecoin,
https://primecoin.io/
XRP - Ripple,
https://www.investopedia.com/tech/whatsdifference-between-bitcoin-and-ripple/
XVG - Verge,
https://www.investopedia.com/terms/v/ver
ge-xvg-cryptocurrency.asp
ZEC - Zcash,
https://www.investopedia.com/terms/z/zca
sh.asp
BIP - Bitcoin Improvement Proposal,
https://bitcoinmagazine.com/what-isbitcoin/what-is-a-bitcoin-improvementproposalbip#:~:text=A%20Bitcoin%20Improvement%20
Proposal%20(BIP)%20is%20a%20standard%20f
or%20proposing,information%20for%20the%20
Bitcoin%20community.
BTM - Automatic Teller Machine for Bitcoin,
https://en.wikipedia.org/wiki/Bitcoin_ATM
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