How does Bitcoin work? : r/Bitcoin - Reddit
Dec 11, 2014 · The best part of bitcoin is that it allows for a modular reconstruction of our existing financial institution. Instead of the bank providing all you're money services, bitcoin allows for an amalgamation of different services and programs to work together.
ELI5: How does crypto mining work? : r/explainlikeimfive - Reddit
Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks.
How does Bitcoin actually work? : r/Bitcoin - Reddit
Jul 15, 2023 · First: bitcoin is the digitization of gold. (Gold has the best characteristics of money, and bitcoin is the first commodity that beats gold at this. By a loooong shot aswel.) Alr with that in mind, please see Bitcoin as just the name that is given to the value that is …
How does IBIT(Blackrock Bitcoin ETF) work internally? : r/Bitcoin
May 3, 2024 · Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin.
How does bitcoin mining work? : r/BitcoinMining - Reddit
Nov 28, 2023 · If you goal is just to accumilate bitcoin I will save you the dozens or hundreds of hours by telling you to not mine it and just buy bitcoin. Mining to accumulate bitcoin is like walking in zigzags, up and down mountains, through quicksand, …
Can Someone Explain How Bitcoin ETFs Work? : r/CryptoCurrency
Disclaimer: they NEVER buy Bitcoin on a decentralised exchange or atomic swap. So Bitcoin price involved into ETF can’t be honest. Also there are many reasons why ETF does not reflect Bitcoin price in a precision sufficient enough. As a result, 25% fall of Bitcoin price just in few days after (spot!) ETF approval.
Bitcoin mining - How does it work? : r/Bitcoin - Reddit
Nov 26, 2021 · Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in …
ELI5: Can someone explain to me how crypto works?
Feb 9, 2022 · Bitcoin is different in that you cannot withdraw bitcoins from the network because they do not exist in the same way dollar bills do. There is no code you can download onto a pendrive or save to a file to take your bitcoins off the network, because the crypto coin does not actually exist. What exists is the public record of bitcoin transactions.
How does Bitcoin work? : r/NoStupidQuestions - Reddit
Bitcoin's actually terrible for black market sales, in my opinion, since the government can take its time investigating it, since transactions are permanent. Compare that to cash, where cash can change hands multiple times with absolutely no trace (laundering). It's much harder (but not impossible) to launder bitcoin effectively compared to cash.
Can someone explain Bitcoin in the simplest way possible? New
Jun 23, 2023 · Each bitcoin transaction is verified and validated by a network of nodes, which are computers that participate in the bitcoin network and maintain a copy of the blockchain. To ensure the integrity of the blockchain, bitcoin uses a consensus algorithm called proof-of-work, which requires nodes to perform complex mathematical computations to ...