Bitcoin: The Ultimate A - Z Of Profitable Bitcoin Trading & Mining Guide Exposed!

Business & Finance, Economics, Foreign Exchange, Personal Finance, Investing, Finance & Investing
Cover of the book Bitcoin: The Ultimate A - Z Of Profitable Bitcoin Trading & Mining Guide Exposed! by The Blokehead, Yap Kee Chong
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Author: The Blokehead ISBN: 1230000281481
Publisher: Yap Kee Chong Publication: November 19, 2014
Imprint: Language: English
Author: The Blokehead
ISBN: 1230000281481
Publisher: Yap Kee Chong
Publication: November 19, 2014
Imprint:
Language: English

How does the bitcoin protocol work?

A person cannot mix indefinite bitcoins. The bitcoin protocol states that there will only be twenty-one million bitcoins to be produced by the miners. These bitcoins will then be subdivided into smaller bits. The smallest bit is called ‘satoshi’ named after the bitcoin founder and the divisible amount is one hundred millionth of a bitcoin.

Bitcoin currency is based on mathematical formulas unlike our conventional currency that is based on gold and silver. Mathematics is used to generate or ‘mine’ bitcoins. The software programs containing these mathematical formulas are made available to everyone. This means that anyone can access these formulas to ensure that it serves its purpose.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

How does the bitcoin protocol work?

A person cannot mix indefinite bitcoins. The bitcoin protocol states that there will only be twenty-one million bitcoins to be produced by the miners. These bitcoins will then be subdivided into smaller bits. The smallest bit is called ‘satoshi’ named after the bitcoin founder and the divisible amount is one hundred millionth of a bitcoin.

Bitcoin currency is based on mathematical formulas unlike our conventional currency that is based on gold and silver. Mathematics is used to generate or ‘mine’ bitcoins. The software programs containing these mathematical formulas are made available to everyone. This means that anyone can access these formulas to ensure that it serves its purpose.

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