Fundamental of Bitcoin

Bitcoin? I am pretty sure that you have heard about Bitcoin. Headlines about Bitcoin can be found in almost every ads and news, even people around us are talking about Bitcoin. It became so popular and has caught the attention of people around the globe. So, you want to know more about Bitcoin? You are here in the right place. This blog post is meant to cover the fundamental of Bitcoin and answers to some frequently asked questions.

Q: What is a Bitcoin?
A: Bitcoin is nothing but just a form of cryptocurrency. In earlier blog post, I have introduced the term 'cryptocurrency', you may read the blog post @ What is Cryptocurrency? The Introduction of Cryptocurrency.

Q: Who developed Bitcoin?
A: To date, there is no confirmation on the real founder or developer of Bitcoin. It is widely known that the anonymous person (or group) that developed Bitcoin is known as 'Satoshi Nakamoto'. It has been suggested that the name 'Satoshi Nakamoto' is derived from Samsung, Toshiba, Nakamichi and Motorola.

Q: When Bitcoin started?
A: Bitcoin is proposed in 2008 by 'Satoshi Nakamoto' and operated in January 3rd, 2009.

Q: Why is Bitcoin developed?
A: Feel free to understand more on the term of 'cryptocurrency' - my blog post @ What is Cryptocurrency? The Introduction of Cryptocurrency.

Q: Where is the source of Bitcoin?
A: It is an open source. A bitcoin holds a very simple data ledger file called a blockchain. Each blockchain is unique to each individual user and his or her personal Bitcoin wallet. All bitcoin transactions are logged and made available in a public ledger, helping ensure their authenticity and preventing fraud. This process helps to prevent transactions from being duplicated and people from copying bitcoins.

Q: How can I get started?
A: There are many ways to earn or own bitcoin. You can buy bitcoin, or earn bitcoin by mining, trade on exchanges, or even earn bitcoin from websites that are giving out free bitcoin. Here is a list of some reputable websites with my referral (both of us will get benefits if you signup via my referral, seriously, but no obligation if you wish not to sign up via my referral links):

1. Remitano - Peer to peer exchange
2. Luno - Online platform
3. Binance - Exchange platform
4. KuCoin - Exchange platform
5. Qryptos - Exchange platform
6. Coinex - Exchange platform
7. Coinpot.co - Web mining and claim free cryptocurrencies by clicking the faucets from below associated links @ 7.1 to 7.6, but first register with Coinpot.co:
7.1. bonusbitcoin.co - Free Bitcoin, can claim every 15 minutes
7.2. moonbit.co.in - Free Bitcoin, can claim after 5 minutes
7.3. moonliteco.in - Free Litecoin, can claim after 5 minutes
7.4. moondoge.co.in - Free Doge coin, can claim after 5 minutes
7.5. moondash.co.in - Free  Dash coin, can claim after 5 minutes
7.6. moonbitcoin.cash - Free Bitcoin Cash, can claim after 5 minutes

I guess that's it. Happy Bitcoining!

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What is Cryptocurrency? The Introduction of Cryptocurrency

Living in the digital era in these days, one of the most frequently asked questions among our circle of friend is - "what is cryptocurrency". By breaking down the word 'cryptocurrency', we may get:

• Crypto: digital encrypted
• Currency: a system of money

In other words, we may call it is as 'digital currency', but what exactly is 'cryptocurrency'? Let's buckle up and make ourself clear with the term 'cryptocurrency', below are the compiled definition from various sources that have been gathered:

Source #1: dictionary.com

[krip-toh-kur-uh n-see, -kuhr-] a digital currency or decentralized system of exchange that uses advanced cryptography for security.

Source #2: The Telegraph -

Cryptocurrency is a form of digital money that is designed to be secure and, in many cases, anonymous.

It is a currency associated with the internet that uses cryptography, the process of converting legible information into an almost uncrackable code, to track purchases and transfers.

Cryptography was born out of the need for secure communication in the Second World War. It has evolved in the digital era with elements of mathematical theory and computer science to become a way to secure communications, information and money online.

Read more @ What is cryptocurrency, how does it work and why do we use it?.

Source #3: Investopedia -

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

Read more @ Cryptocurrency.

Source #4: CCN -

A cryptocurrency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often referred to as Altcoins.

Put another way, cryptocurrency is electricity converted into lines of code with monetary value. In the simplest of forms, cryptocurrency is digital currency.

Read more @ What is Cryptocurrency?.

Source #5: Blockgeeks -

Read more @ What is Cryptocurrency: Everything You Need To Know [Ultimate Guide].

After going through the above definitions, trust that a series of questions have been popped up in your mind, such as "what is BitCoin", "what is a Blockchain", "how and where do I start with cryptocurrency", "how do cryptocurrencies work", etc. We shall cover more in the next blog posts.

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