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Writer's pictureFahad H

WHAT IS BITCOIN? – The historical past, makes use of and future for Bitcoin and cryptocurrency


Learn about Bitcoin and what it has in retailer for us sooner or later from the GOD of BITCOIN Andreas Antonopoulos.

========================================= BOOKS YOU MAY BE INTERESTED IN:

MASTERING BITCOIN, 2nd Ed: https://amzn.to/2ttEEQY

THE INTERNET OF MONEY, v1: https://amzn.to/2T0oHjv

THE INTERNET OF MONEY, v2: https://amzn.to/2tpBAVU

MASTERING ETHEREUM (This autumn): https://amzn.to/2EjAYr2

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Bitcoin (?) is a cryptocurrency, a type of digital money. It is a decentralized digital forex with no central financial institution or single administrator that may be despatched from consumer to consumer on the peer-to-peer bitcoin community with out the necessity for intermediaries.

Transactions are verified by community nodes by cryptography and recorded in a public distributed ledger referred to as a blockchain. Bitcoin was invented by an unknown particular person or group of individuals utilizing the identify Satoshi Nakamoto and launched as open-source software program in 2009. Bitcoins are created as a reward for a course of referred to as mining. They will be exchanged for different currencies, merchandise, and companies. Research produced by the University of Cambridge estimates that in 2017, there have been 2.9 to five.Eight million distinctive customers utilizing a cryptocurrency pockets, most of them utilizing bitcoin.

Bitcoin has been criticized for its use in unlawful transactions, its excessive electrical energy consumption, value volatility, thefts from exchanges, and the likelihood that bitcoin is an financial bubble. Bitcoin has additionally been used as an funding, though a number of regulatory companies have issued investor alerts about bitcoin.

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About Andreas Antonopoulos

In 2012 Antonopoulos turned enamored with bitcoin. He ultimately deserted his job as a contract marketing consultant and began talking at conferences about bitcoin, consulting for startups, and writing articles freed from cost.

According to his podcast, Antonopoulos is a marketing consultant on a number of bitcoin-related startups.[11] He served as head of the Bitcoin Foundation’s anti-poverty committee till 2014, when he resigned citing an absence of transparency as the rationale.

In January 2014, Antonopoulos joined Blockchain.data as chief safety officer. In September 2014 he left the CSO position.

Antonopoulos was an outspoken critic of the Mt. Gox buying and selling platform as early as April 2013, calling it “a systemic threat to bitcoin, a demise lure for merchants and a enterprise run by the clueless”. In February 2014, following the closing of Mt. Gox, Antonopoulos revealed an additional evaluation of the collapse and its impact on the better bitcoin ecosystem.

In April 2014, Antonopoulos organised a fundraising marketing campaign for Dorian Nakamoto, who was recognized in a Newsweek article because the creator of bitcoin, Satoshi Nakamoto. The reporting methods used within the article had been controversial amongst journalists and Bitcoin group members. The fundraiser, meant to help Nakamoto after the eye he acquired because of the article, raised 50 bitcoins, price US$23,000 on the time.

On 8 October 2014, Antonopoulos spoke in entrance of the Banking, Trade and Commerce committee of the Senate of Canada to handle the senators’ questions on find out how to regulate bitcoin in Canada.[18] In his testimony, he warned senators in opposition to untimely regulation of bitcoin, stating “Wait until the technology is better understood by all of us … there are many applications based on this model — would stifle this technology in its early days.”

In March 2016, the primary version of Mastering Bitcoin was launched by Antonopoulos, in print and on-line, adopted by a second version in June 2017.

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