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What Company Owns Bitcoin?

What Is Bitcoin? - Coindesk

What Is Bitcoin? - Coindesk

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency. What makes it different from normal currencies? Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally. However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money. A software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. No one. This currency isn’t physically printed in the shadows by a central bank, unaccountable to the population, and making its own rules. Those banks can simply produce more money to cover the national debt, thus devaluing their currency. Instead, bitcoin is created digitally, by a community of people that anyone can join. Bitcoins are ‘ mined’ , using computing power in a distributed network. This network also processes transactions made with the virtual currency, effectively making bitcoin its own payment network. So you can’t churn out unlimited bitcoins? That’s right. The bitcoin protocol – the rules that make bitcoin work Continue reading >>

The 8 Biggest Bitcoin Players Who Could Make A Fortune Off The Cryptocurrency

The 8 Biggest Bitcoin Players Who Could Make A Fortune Off The Cryptocurrency

There are plenty of well-known critics of Bitcoin in the banking and business worlds. Recently, Jamie Dimon, chief executive of JPMorgan Chase & Co., called the cryptocurrency a fraud and said it would blow up. He even went so far as to say he would fire anyone who traded Bitcoin because they are stupid. But not everyones so dismissive. Bitcoin has had a bullish run in 2017, rising from $966 at the start of the year to a record high of more than $6,000 this month, and some major holders of the currency are no doubt looking to cash in on its value. The names might surprise you. While Bitcoins allows for anonymity, using strings of letters and numbers to identify sources of transactions, certain people have publicly revealed that theyre enthusiastic users. Here are the people with the biggest known stakes in Bitcoin. You likely know Tyler and Cameron Winklevoss, who tried and failed to gain control of Facebook after alleging that it had been appropriated from them, thanks to Armie Hammers satirical portrayal of both siblings in The Social Network. But the Winklevii have a second act in their enormous Bitcoin investment. While they were shut out of creating a Bitcoin exchange traded fund (ETF) , their 2013 investment in $11 million worth of Bitcoin (which reportedly amounted to one percent of all the currency in circulation) looks pretty rosy now. That same amount is worth approximately 21 times as much now, putting their total at about $231 million. Silbert, a venture capitalist and founder of Digital Currency Group , was an early proponent of Bitcoin. He reportedly nabbed 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014 ( the government had seized much of the currency from Silk Road, an online marketplace it said was used for illegal drugs). Bitco Continue reading >>

What Is Bitcoin? - Cnnmoney

What Is Bitcoin? - Cnnmoney

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures. Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value. Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange. People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally. People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes. Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC. Wallet in cloud: Servers have been hacked. Companies have fled with clients’ Bitcoins. Wallet on computer: You can accidentally delete them. Viruses could destroy them. Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions Continue reading >>

Who Owns Bitcoin? | Ig Uk

Who Owns Bitcoin? | Ig Uk

The price of bitcoin may have surged, but there is still a healthy debate about its long-term prospects. Clear points of contention centre around ownership and transparency. So who does own bitcoin? All trading involves risk. Losses can exceed deposits. In financial markets, the price is everything and it is determined largely by supply and demand. Information about who owns an asset and who wants to buy that asset is a key driver of the price. In the equity market for example, traders will often focus on things like where the money is flowing and what insiders like hedge funds and pension funds are doing with their equity holdings. This level of detail is easily obtainable and if the transaction is large enough, the details of transacting parties are reported to the market. This level of transparency is not only useful for market regulators, it also provides insights that will often affect sentiment towards a stock and influence other market participants. When it comes to Bitcoin (GBP) and other cryptocurrencies, however, the opposite appears to be true. Many see the lack of transparency and complete anonymity of ownership as a positive attribute. In a digital world where hacking and cybercrime is always a threat, those with a sizeable hoard of digital coins appear keen to keep a low profile not to become a target. They may hold a number of wallets, so the risk is spread. The technology and processing of cybercurrencies also supports anonymity the blockchain ledger that records each and every transaction does not display names or details of the participants, meaning they are essentially anonymous. This is a clear concern for governments, with the US Internal Revenue Service (IRS) declaring that in 2015 only, 802 individuals claimed profits or losses in relation to bit Continue reading >>

Who Owns The World's Biggest Bitcoin Wallet? The Fbi

Who Owns The World's Biggest Bitcoin Wallet? The Fbi

Who Owns the World's Biggest Bitcoin Wallet? The FBI Who Owns the World's Biggest Bitcoin Wallet? The FBI Who Owns the World's Biggest Bitcoin Wallet? The FBI Who owns the single largest Bitcoin wallet on the internet? The U.S. government. In September, the FBI shut down the Silk Road online drug marketplace, and it started seizing bitcoins belonging to the Dread Pirate Roberts the operator of the illicit online marketplace, who they say is an American man named Ross Ulbricht. The seizure sparked an ongoing public discussion about the future of Bitcoin , the world's most popular digital currency, but it had an unforeseen side-effect: It made the FBI the holder of the world's biggest Bitcoin wallet. The FBI now controls more than 144,000 bitcoins that reside at a bitcoin address that consolidates much of the seized Silk Road bitcoins. Those 144,000 bitcoins are worth close to $100 million at Tuesday's exchange rates. Another address , containing Silk Road funds seized earlier by the FBI, contains nearly 30,000 bitcoins ($20 million). That doesn't make the FBI the world's largest bitcoin holder. This honor is thought to belong to bitcoin's shadowy inventor Satoshi Nakamoto, who is estimated to have mined 1 million bitcoins in the currency's early days. His stash is spread across many wallets. But it does put the federal agency ahead of the Cameron and Tyler Winklevoss, who in July said that they'd cornered about 1 percent of all bitcoins (there are 12 million bitcoins in circulation). In the fun house world of bitcoin tracking, it's hard to say anything for certain. But it is safe to say that there are new players in the Bitcoin world although not as many people are buying bitcoins as one might guess from all of the media attention. Satoshi stores his wealth in a large n Continue reading >>

About Us Bitcoin.com

About Us Bitcoin.com

Daniel began his career at a New York law firm. He later moved to Taiwan where his Internet-based practice focused on counseling e-commerce entrepreneurs. He discovered Bitcoin in 2012 and saw an opportunity for a meaningful career promoting economic freedom. After getting Goxxed, he moved to Tokyo to represent creditor interest after Mt Gox's bankruptcy. He spends most of his time in Taiwan, Hong Kong, and Tokyo. Jeffreys professional background began in broadcast marketing andquickly evolved towards product design/development in the digitalstartups space. Jeffreys roles at Bitcoin.com include new productideation, creative direction and production management. Amidst work in a variety of industries, he has been passionatelyinvolved in Bitcoin and blockchain product development since early 2014.He has worked on some of the most widely used products and brands in theindustry. Jeffrey also serves as Dir. of New Tech & Business Development for IdeasBy Nature, a Denver, CO based creative and technology agency. In his personal time, Jeffrey enjoys music, traveling and the outdoorrecreation in his home state of Colorado. Jake has been deeply involved with the Bitcoin scene since 2012 when he bought his first bitcoin while living in Beijing. Since then he has been tirelessly working to promote Bitcoin and the vision of P2P electronic cash all over the world. Deeply familiar with the Chinese Bitcoin community, Jake has worked with a number of Bitcoin companies both in Beijing and overseas with a focus on fostering East/West relations in our budding industry. His specialty is a deep knowledge of Bitcoin mining and navigating the nuanced world of Chinese business. He is fluent in Mandarin Chinese. In his free time, Jake can be found engrossed in a book or traveling someplace new. Continue reading >>

Here's Another Key Reason To Be Wary Of Bitcoin Prices | Money

Here's Another Key Reason To Be Wary Of Bitcoin Prices | Money

Updated: December 12, 2017 12:34 PM ET | Originally published: December 8, 2017 Considering getting into bitcoin as prices soar above $15,500? Its not hard to see whythe asset has gained $8,000 in the last month. But realize this about the historically volatile currency: An estimated 1,000 people own about 40% of the worlds total bitcoin, for an average of about $105.6 million per person, according to Aaron Brown, formerly of AQR Capital Management, per Bloomberg Businessweek . Thats in part a lucky pool of investors who bet on a cryptocurrency strongly linked to the dark net just a few years earlier. But newer bitcoin investors trying to jump on board should be aware: That also means those 1,000 or so people have outsized ability to influence bitcoin prices. Thats potentially even more risky considering bitcoins value isnt based on any underlying asset, but rather largely on human sentiment. As in any asset class, large individual holders and large institutional holders can and do collude to manipulate price, Ari Paul, co-founder of BlockTower Capital and a former portfolio manager of the University of Chicago endowment, told Bloomberg. Its likely that at least some of these owners already know each other, having probably gone into bitcoin at a time when mining the cryptocurrency was easier and there were fewer people involved. (The process by which new bitcoins are released is called mining. Because of the way bitcoin works, mining the cryptocurrency becomes increasingly difficult as time goes on.) Consider the so-called father of bitcoin, the pseudonymous Satoshi Nakamoto, who began mining bitcoin when the software to mine the coins first became available in 2009. An account that is likely his now contains about 980,000 bitcoins, worth roughly $15.2 billion. Thats a Continue reading >>

A Look At Who Owns Bitcoin (young Men), And Why (lack Of Trust)

A Look At Who Owns Bitcoin (young Men), And Why (lack Of Trust)

A look at who owns bitcoin (young men), and why (lack of trust) Chances are, you've heard of bitcoin. But the odds are much smaller that you actually have a stake in it. Nearly 60 per cent of Americans have heard or read about the world's largest cryptocurrency, according to a joint SurveyMonkey and Global Blockchain Business Council poll of more than 5700 adults conducted in January. But only 5 per cent of people actually own the digital coin. Those few bitcoin investors are of a fairly consistent demographic. An overwhelming 71 per cent of them are male. The majority - 58 per cent -are young, between the ages of 18 and 34 years old. And unlike the broader USpopulation, nearly half of them are minorities. When asked why they bought the crypto asset, investors answered that a combination of a lack of trust and an opportunity for return are at play. Around 41 per cent of bitcoin owners see it as a bubble ready to pop this year. About one-third of bitcoin owners said it was a means to avoid government regulation -24 per cent also said they trust bitcoin more than the USgovernment in a separate question- and about two in 10 saw it as a hedge against crashes in traditional assets. More than 60 per cent also said that buying the digital coin was seen as a growth investment. Last year, that investment largely paid off. The cryptocurrency skyrocketed more than 1400 per cent in 2017, reaching a high of more than US$19,500 (NZ$26,577) last month. But much of that gain has been given back -bitcoin has fallen by almost half since December, now trading near US$11,000, according to Bloomberg composite data. Roughly 70 per cent of those surveyed this month said bitcoin will be worth somewhat to significantly more five years from now. But 38 per cent also said they see it as a bubble Continue reading >>

Who Owns Bitcoin Universe: From Satoshi Nakamoto To Winklevoss Twins And More

Who Owns Bitcoin Universe: From Satoshi Nakamoto To Winklevoss Twins And More

Who Owns Bitcoin Universe: From Satoshi Nakamoto to Winklevoss Twins and More Even with Bitcoin heading into the mainstream, its still hard to know who owns it. The transparency of Bitcoin goes a long way in determining the price of the digital currency, as much of the market movement can be put down to where the money is moving. However, it is a lot harder to figure out to whom the money is moving. Financial markets are determined by supply and demand factors, as well as information on who owns an asset and who wants to buy that asset. This of course relies on market transparency, as traders and insiders watch what hedge funds and pension funds are doing with their equity holdings. Bitcoin is obviously slightly different as the digital currency is transparent - but anonymous . While transactions and the movement of Bitcoin is open and available on the ledger, the name behind those transactions is anonymous, just a string of usually untraceable letters and numbers. This of course makes it a bit more difficult to determine who owns Bitcoin, and where money is moving or staying, but this is seen as a positive for the digital currency. In this digital world where cybercrime and hacking is always around the corner, those with sizeable investments in Bitcoin would prefer to remain anonymous so as to not set a target on their backs - additionally, they can spread the wealth across a number of wallets. Of course, not being able to tie mass fortunes down to certain individuals makes it frustrating for financial regulators trying to keep tabs on money for legal and illegal uses. The IRS has had to rely on the trust of Bitcoin users in declaring taxable gains, but when in 2015 only 802 individuals claimed profits or losses in relation to Bitcoin transactions, it was clear that a Continue reading >>

Bitcoin.com Co-founder: Sell All Your Bitcoins, It's

Bitcoin.com Co-founder: Sell All Your Bitcoins, It's "useless" - Business Insider Nordic

Emil Oldenburg, the CTO and co-founder of bitcoin.com has spent the past three years in Tokyo. Oldenburg is also the co-founder of Safello, a Swedish bitcoin exchange. Bitcoin is virtually useless and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com , one of the worlds largest bitcoin websites. Oldenburg has sold his bitcoins and believes others will do the same when they realize how illiquid the market is. He says bitcoin's drawbacks are high fees and transaction lead times - a heated topic of discussion in the community today -and resistance to change from people running the old bitcoin network. Oldenburg believes there's a brighter future for Bitcoin Cash, a spinoff currency of bitcoin that is now being actively promoted by bitcoin.com. Bitcoin.com is one of the worlds largest bitcoin sites, having grown its profile this year thanks to the remarkable price surge of the cryptocurrency . But its cofounder and CTO, Emil Oldenburg, a Swedish native, is extremely skeptical when it comes to bitcoin's future. I would say an investment in bitcoin is right now the riskiest investment you can make. Theres an extremely high risk, he says in an interview with Swedish tech site Breakit . Although Oldenburg is far from the first to criticize bitcoin's viability as an investment, his position as an insider does stand out even as he migrates to its spin-out, bitcoin cash (BCH), a so called"hard fork" of bitcoin, which was launched in August and is currently the world's third-largest cryptocurrency. I have in fact sold all my bitcoins recently and switched to bitcoin cash, Oldenburg says. Bitcoin Cash has also gained the strong support of Oldenburg's co-founder , Roger Ver. Oldenburg's big problem with bitcoin is high transaction costs Continue reading >>

Who Owns Bitcoin? Is Bitcoin A Scam?

Who Owns Bitcoin? Is Bitcoin A Scam?

Last updated on December 1st, 2014 at 10:23 pm Who Owns Bitcoin and Is Bitcoin a Scam?Many people nervous over those two topics in the world of bitcoin. People want to know clear answers on these subjects but its really not that simple. The first topic of who owns bitcoin is not as complicated or debated as much as the idea that bitcoin is a scam. There are facts that can be stated and there are also opinions that can be given on both these topics. This article will try to explain some of those facts and also examine some of the opinions of these two topics. READ: What is Bitcoin, How to Use BTC, Bitcoin to USD The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin ( Bitcoin.org ). Who owns Bitcoin? Bitcoin is not operated by any single entity or company but is rather operated by the thousands of people running the Bitcoin software all over the world. There is a ledger that is kept to manage the transactions in the database. This is commonly referred to as the Blockchain. This can be compared to the system people used to share music files. The scary part to new user is that there is no one to hold accountable if something goes wrong. That feeling is hard to swallow.Head over to How to Get Free Bitcoins with Bitcoin Faucets That Really Pay to you some free bitcoins to your bitcoin wallet. SEE: What is a Bitcoin Wallet and How to Get a BTC Wallet? Is Bitcoin a Scam? Some say yes and some say no. The debate is ongoing and you get different answers depending on who you ask. Some have compared it to a phonzi scheme and also gave it the same chanc Continue reading >>

Elon Musk Owns Bitcoin: Heres How Much | Fortune

Elon Musk Owns Bitcoin: Heres How Much | Fortune

Tesla CEO Elon Musk isnt exactly active in cryptocurrency. Musk revealed this week on Twitter how much Bitcoin he ownsand its not much. Musk shed light on his bitcoin ownership in response to a question from a Twitter follower asking why there were so many bots impersonating him to push cryptocurrency scams. Whats with all the ETH spam? the Twitter user asked, referring to the cryptocurrency Ethereum. Musk tweeted back: Not sure. I let Jack know, but its still going. Musk was referring to Twitter CEO Jack Dorsey. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago, Musk said in a tweet on Thursday. Thats about $2,500 as of Friday evening (as of Friday afternoon, one Bitcoin was worth $10,012). Not sure. I let @jack know, but its still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago. Continue reading >>

About Bitcoin.org

About Bitcoin.org

Bitcoin.org is dedicated to help Bitcoin to develop in a sustainable way. Bitcoin.org was originally registered and owned by Bitcoin's first two developers, Satoshi Nakamoto and Martti Malmi . When Nakamoto left the project, he gave ownership of the domain to additional people, separate from the Bitcoin developers, to spread responsibility and prevent any one person or group from easily gaining control over the Bitcoin project. From 2011 to 2013, the site was primarily used for releasing new versions of the software now called Bitcoin Core. In 2013, the site was redesigned into its current form, adding numerous pages, listing additional Bitcoin software, and creating the translation system. Developer documentation was added in 2014. Today the site is an independent open source project with contributors from around the world. Final publication authority is held by the co-owners, but all regular activity is organized through the public pull request process and managed by the site co-maintainers. Bitcoin.org is not Bitcoin's official website. Just like nobody owns the email technology, nobody owns the Bitcoin network. As such, nobody can speak with authority in the name of Bitcoin. Bitcoin is controlled by all Bitcoin users around the world. Developers are improving the software but they can't force a change in the rules of the Bitcoin protocol because all users are free to choose what software they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work decently with a complete consensus between all users. Therefore, all users and developers have strong incentives to adopt and protect this consensus. Inform users to protect them from common mistakes. Give an accurate description of Bitcoin prop Continue reading >>

A Look At Who Owns Bitcoin (young Men), And Why (lack Of Trust)

A Look At Who Owns Bitcoin (young Men), And Why (lack Of Trust)

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. A Look at Who Owns Bitcoin (Young Men), and Why (Lack of Trust) 71 percent of digital coins owners are male, survey says Mistrust of government, growth outlook cited as reasons to buy Five Reasons 'Bitcoin Jesus' Loves the Digital Currency Chances are, youve heard of Bitcoin. But the odds are much smaller that you actually have a stake in it. Nearly 60 percent of Americans have heard or read about the worlds largest cryptocurrency, according to a joint Global Blockchain Business Council poll of more than 5,700 adults conducted in January. But only 5 percent of people actually own the digital coin. Those few Bitcoin investors are of a fairly consistent demographic. An overwhelming 71 percent of them are male. The majority -- 58 percent -- are young, between the ages of 18 and 34 years old. And unlike the broader U.S. population, nearly half of them are minorities. Majority of cryptocurrency's owners are younger males, near half are minorities When asked why they bought the crypto asset, investors answered that a combination of a lack of trust and an opportunity for return are at play. About one-third of Bitcoin owners said it was a means to avoid government regulation -- 24 percent also said they trust Bitcoin more than the U.S. government in a separate question -- Continue reading >>

What I Learned From Owning Bitcoin

What I Learned From Owning Bitcoin

I bought $200 worth of bitcoin last Friday for a story I was writing on " how to give the gift of bitcoin " during the holiday season. I held on to my stash for a weekend to see what owning bitcoin was like. Here's what I learned. You should probably know this if you're buying bitcoin, but if you don't: the value of your bitcoin is apt to skyrocket and then tank at any moment. Minutes after buying $200 worth, my bitcoin value was down to $191. It continued to fall over the weekend before spiking on Monday back to its original value. When I first purchased bitcoin through the app Coinbase, my bank thought it was fraud and froze my account. I had to call my bank and confirm the purchases before trying to buy it again. Also, I've heard reports from friends in the newsroom that there are times when the Coinbase systems are overloaded, which might prevent folks from buying at a lower price. Coinbase addressed this potential issue in a message to its users . It feels more likea roulette table than a regular investment If you pick up a newspaper or watch CNBC, you can often figure out why a company's stock or a global currency is up or down. Maybe there's a new CEO, war, government problems, a scandal, a positive or negative earnings report or a new competitor. You can start to figure out why a stock might react the way it does. Bitcoin isn't like that. It's kind of like standing at a roulette table, and seems to spike or sink purely based on the momentum of other people buying and selling. I'm sure other people understand it better than me, but I have a feeling a lot of folks are just as clueless and are simply buying it to "get rich quick." And why wouldn't you? Someone who purchased bitcoin when it crossed $3,000 in June has already increased their investment more than fiv Continue reading >>

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