Bitcoin is a digital currency with young age , but has quickly spread around the globe when behind the code and how it operates is a source of inspiration liberalism .
Not only that , Bitcoin has triggered passion economists argue about the value of money , while creating a wave raced from the world of information technology as well as training Bitcoin hackers worldwide. Here , we will send to you read part 1 of this series on Bitcoin , entitled " virtual gold , real money , real risk ."
Two bedroom house on the hill Joel Flickinger Oakland (California, US) rang day and night hum of computer platforms with customized configurations by Joel. Inside the room is a large screen is supported by the Department of huge power cables snaked pile right and left toward two computers, about the size of two boxes of beer. Flickinger has spent more than 20 thousand dollars to "rig" this Bitcoin so that it can operate 24 / 24h and the heat from the machine can produce both heating the building. On the wall, attach the pieces stick Flickinger Joel content combative: I make easy money, money flowing into my computer, I am a magnet for money. Flickinger, 37, a software engineer and IT consultant with pale skin so do not leave the house for days. He was a full-time Bitcoin miner models.
Bitcoin was born in 2008 , the critical moment for the world economy as the global financial crisis began to spread from the financial products risky in America and Europe , pulling down big banks , forcing the government to take action and pumped in huge amounts of cash to reinforce the foundation .
11/2008, a mysterious character has a nickname Japan: Satoshi Nakamoto have published studies describing how the organization and operation of electronic money under the name of Bitcoin without subject to coordinated by the bank of any government. One of the major enhancements of the Bitcoin virtual currency than was used previously when users pay directly to each other that counterfeited coins capacity depends on the power mining equipment compared to competitors. Therefore, even a low rate of risk, but the risk of counterfeiting Bitcoin is real when an individual or organization that is strong enough to invest in the hardware system - a powerful software, the overwhelming compared to the others are involved in the process of re-encoded into string Cai (block chaining) for Bitcoin.
Satoshi Nakamoto have to be a mathematician , a Japanese programmer ? No one answered this question . People only know Japanese Satoshi means wisdom . Someone arbitrary nickname is assembled from the first letters of the four technology groups ( Samsung , Toshiba , Nakamichi , and Motorola ) . According to conspiracy theories , these are groups of people coming from the National Security Agency of the US !
So why Bitcoin forcing many people to abandon the effort , money and time to participate in encoding ( mining ) it ? With existing technical features , activities Bitcoin generated by hash algorithm to create a new package on the string of characters The characters ( currently with a capacity of 11GB ) . Averaging about 10 minutes there will be a pack of newly created characters . In early 2009 , when the number of participants less , with each new character package , participants will receive " remuneration " 50 Bitcoin ( BTC ) . This remuneration shall be reduced by 50 % to 210 thousand packs of characters in the string Cai . In late 2012, the number dropped to 25 contract bonuses BTC . Expected to 2140 , with 21 million packages generated characters , number of theater Bitcoin will come due.
Whether virtual money , but limited quantities , extraction difficult , expensive investment effort to be used banknotes have secure payment nature , not dependent on national boundaries , as long as there internet access (no firewall ) has made Bitcoin have similar monetary value . Key hash algorithm and how community participation in the process of encoding detention and transparency also " record " transaction ( transaction log ) of all co Bitcoin was created . Thus , when co Bitocin was public , its owner can not be used to purchase multiple places at once
By 2013 , about 11 million Bitcoins are in circulation in spite of protest in many countries . Value against the US dollar BTC has been fluctuating at around $ 1,000 . Although the market penetration of the copper currency drip BTC still takes place , but there have been notable milestone when the retail giants and big investors in the US are willing to stand the organization deals with this kind of money .
After Canada , beginning in 2014 , Hong Kong will have the 2nd Bitcoin ATMs , regardless of the position of co Bitcoin is freely circulated Chinese government has been controlled and buffeted . Go along with it is the online hacker attacks ferocious outbreak BTC to steal the user's wallet from the network until the personal computer . Dated 09.01.2014 , the world record wave of malicious advertising messages flooded into Yahoo mail system inherent lax defense whose main purpose is to utilize the resources of the computer being attacked to dig Bitcoin .
Meanwhile, Silicon Valley in the USA are becoming learning centers Bitcoin as natural law. By This e-currency can only conceived and born in society "software" organization of modern society, the law sharply. Everywhere filled with billboards convey the message: "A revolution has begun ... You're standing at the place where?" The "Miners" of the industrial era of no blur in the dungeon that becomes the person operating the computer to run more complex algorithms. At the current price of each Bitcoin has hit nearly $ 1,000 chasing selling price of an ounce of gold, so just create new characters package, workers received workers collected about 25 thousand dollars for 10 minutes. Dream enrichment in cyberspace is approaching reality.
Date 05/22/2010 , programmers Laszlo Hanyecz became the first to use 10 thousand BTC in exchange for two $ 30 worth of pizza in Florida (USA ) . According Hanyez calculations , it is a reasonable price . But if placed in the present time , this pizza was worth the equivalent of $ 10 million !
Date 05/22/2010 , programmers Laszlo Hanyecz became the first to use 10 thousand BTC in exchange for two $ 30 worth of pizza in Florida (USA ) . According Hanyez calculations , it is a reasonable price . But if placed in the present time , this pizza was worth the equivalent of $ 10 million !
