CryptoCoinsInfoClub.com

What Does Btc Stand For Bitcoin

Are The Bitcoin Symbols Xbt & Btc Different?

Are The Bitcoin Symbols Xbt & Btc Different?

Spoiler: No, XBT is not different from BTC. These two symbols are used synonymously to refer to Bitcoin . But I think only knowing the spoiler information is not enough, and it is my duty on CoinSutra to tell you everything important surrounding Bitcoin. So right now, we are going to talk about Bitcoins ticker symbol i.e. BTC (aka XBT). <br /> Can't load widget<br /> To answer this, lets remember that Bitcoin is not a sovereigncurrency, meaning it is not a national currency producedby any specific entity. It exists with no single point of origin. And being nationless and identity-lessis what makes it decentralized.This is what takes it out of the control of anyone. But this brings a few challenges One of those challenges is how and what to name it. Its just like having a type of food that goes by different names in different countries or different communities. This happens because there is no standard procedure for naming. Similarly, Bitcoin, being decentralized, is called by two different abbreviated names (i.e BTC and XBT) because there is no one in charge to set naming standards. But the interesting thing is that even the founder of Bitcoin ( Satoshi Nakamoto ) didnt give an abbreviation to Bitcoin. I believe he did this purposely so that the community could have full control over the coin. Also, Satoshi mentioned the word Bitcoin only twicein Bitcoins white paper. He did this because its not the name that matters but rather the overall concept. Bitcoin is called BTC because it makes logical sense the acronym follows the sound of the name. So this has been the prevailingBitcoin symbol. But now, some have also started using the symbol XBT. The popular ticker name BTC violates ISO 4217 , and as according to this standard, it goes against th Continue reading >>

Btc - What Does Btc Stand For? The Free Dictionary

Btc - What Does Btc Stand For? The Free Dictionary

BTC - What does BTC stand for? The Free Dictionary Also found in: Dictionary , Encyclopedia , Wikipedia . Break the Cycle (violence prevention website) Belgische Technische Coperatie (Dutch: Belgian Technical Cooperation) Buildings Technology Center (Oak Ridge National Laboratory) Battlefords Tribal Council ( Battleford, SK. Canada) Brique de Terre Comprime (French: Compressed Earth Brick) Bicycle Trails Council (Marin County, California) Burnet Traffic Consultants (Arva, ON, Canada) Blackheath & Thornburgh College (Queensland, Australia) Bois Tranchs Claudet (French wood distributor) Joint Regional Training Center for Latin America (IMF) Brunei Transporting Company (Brunei Darussalam) Biometrics Test Center (biometrics, University of Hamburg) Board of Transport Commissioners (Canada) Bti, Tradi, Concept (French construction company) British Training and Recruitment Consultancy (Pakistan) BTC Testing Advisory Group (not an acronym; formerly British Technical Council of the Motor and Petroleum Industries) Business Tax Certificate (various locations) Bulmer Telecommunications Center (Hudson Valley Community College; Troy, NY) Want to thank TFD for its existence? Tell a friend about us , add a link to this page, or visit the webmaster's page for free fun content . AJTC has also expressed an intent to merge its operations with BTC through a securities exchange offer. -BTC GOES PINK FOR BREAST CANCER AWARENESS BTC, which is a federally funded program run by the Canadian Training Institute (CTI), operates in two "priority" areas in Toronto known for gang activity. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and Continue reading >>

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

If you still cant figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you ... Were sitting on a park bench. Its a great day.I have one apple with me, I give it to you. You now have one apple and I have zero.That was simple, right? My apple was physically put into your hand.You know it happened. I was there, you were there you touched it. We didnt need athird personthere to help us make the transfer. We didnt need to pull in Uncle Tommy (whos a famous judge) to sit with us on the bench and confirm that the apple went from me to you. The apples yours! Icantgive you another apple because I dont have any left. I cant control it anymore. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend, and so on. So thats what an in-person exchange looks like. I guess its really the same, whether Im giving you a banana, a book, a quarter, or adollar bill Now, let's say I have onedigitalapple. Here, Ill give you mydigitalapple. Ah! Now it gets interesting. How do you knowthatdigital apple which used to be mine, is now yours, and only yours? Think about it for a second.Its more complicated, right? How do you know that I didnt send that apple to Uncle Tommy as an email attachment first? Or your friend Joe? Or my friend Lisa too? Maybe I made a couple of copies of that digital apple on my computer. Maybe I put it up on the internet and one million people downloaded it. As you see, this digital exchange is a bit of a problem.Sendingdigitalapples doesnt look like sendingphysicalapples. Some brainy computer scientists actually have a name for this problem: its called the double-spending problem . But dont worry about it. All you need 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 >>

How Does Bitcoin Work?

How Does Bitcoin Work?

This is a question that often causes confusion. Here's a quick explanation! As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once. The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography . A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining . Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions Continue reading >>

What Is Bitcoin (btc)? - Definition From Techopedia

What Is Bitcoin (btc)? - Definition From Techopedia

Definition - What does Bitcoin (BTC) mean? Bitcoin is a digital cryptocurrency made up of processed data blocks used for online and brick-and-mortar purchases. Because bitcoins are limited and their value is determined by market forces, bitcoins are also traded like stocks on various exchanges. Relatively new and experimental, bitcoin is described as the first decentralized digital currency. Bitcoins are generated after a block of data is processed, creating a block of transactional data in the bitcoin network. This is accomplished through a bitcoin mining client, although this function is no longer adequately performed via a regular central processing unit (CPU). The forecasted number of produced bitcoins is 21 million with an expected completion date of 2040. Bitcoins may be purchased or sold over the bitcoin network and are considered secure because during each transfer, each bitcoin must be cryptographically signed. A bitcoin user is required to employ a public key, private key and bitcoin address for each transaction that occurs as a peer-to-peer transfer. The bitcoin concept was invented by Satoshi Nakamoto, although virtually nothing is known about him. In 2010, Nakamoto withdrew from the Bitcoin Project. Continue reading >>

What Is Bitcoin? - Definition From Whatis.com

What Is Bitcoin? - Definition From Whatis.com

virtual agent (intelligent virtual agent or virtual rep) Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government.Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment. Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer ( P2P ) network. The P2P network monitors and verifies the transfer of Bitcoins between users. Each user's Bitcoins are stored in a program called a digital wallet , which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user. The Bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and the network is set up to regulate itself to deal with inflation.Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer's wallet to a Bitcoin address in the vendor's wallet. As of this writing, one Bitcoin (also called a BTC) is worth $104 -- but just as with stocks, the value of Bitcoins can fluctuate quickly. In the United States, Bitcoins are controversial because they can be used to anonymously transfer illicit funds or hide unreported income from the Internal Revenue Service (IRS). Bitcoin policy now requires transactions that involve traditional, government-backed currencies to be attached to an identity. This CNN video provides an overview of Bitcoin: Continue reading >>

Bitcoin Mining Definition | Investopedia

Bitcoin Mining Definition | Investopedia

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, whichincentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin. (Related: How Does Bitcoin Mining Work? ) The amount of new bitcoin released with each mined block is called the block reward. The block reward is halved every 210,000 blocks, or roughly every 4 years. The block reward started at 50 in 2009, is now 25 in 2014, and will continue to decrease. This diminishing block reward will result in a total release of bitcoin that approaches 21 million. How hard are the puzzles involved in mining? Well, that depends on how much effort is being put into mining across the network. The difficulty of the mining can be adjusted, and is adjusted by the protocol every 2016 blocks, or roughly every 2 weeks. The difficulty adjusts itself with the aim of keeping the rate of block discovery constant. Thus if more computational power is employed in mining, then the difficulty will adjust upwards to make mining harder. And if computational power is taken off of the network, the opposite happens. The difficulty adjusts downward to make mining easier. In the earliest days of Bitcoin, mining was done with CPUs from normal desktop computers. Graphics cards, or graphics processing units (GPUs), are Continue reading >>

Bitcoin - Wikipedia

Bitcoin - Wikipedia

Unspent outputs of transactions denominated in any multiple of satoshis [3] :ch. 5 12.5 bitcoins per block (approximately every ten minutes) until mid 2020, [7] and then afterwards 6.25 bitcoins per block for 4 years until next halving. This halving continues until 2110–40, when 21 million bitcoins will have been issued. ^ The symbol was encoded in Unicode version 10.0 at position U+20BF ₿ BITCOIN SIGN in the Currency Symbols block in June 2017. [2] Bitcoin is a worldwide cryptocurrency and digital payment system [8] :3 called the first decentralized digital currency , as the system works without a central repository or single administrator. [8] :1 [9] It was invented by an unknown person or group of people under the name Satoshi Nakamoto [10] and released as open-source software in 2009. [11] The system is peer-to-peer , and transactions take place between users directly, without an intermediary. [8] :4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain . Bitcoins are created as a reward for a process known as mining . They can be exchanged for other currencies, [12] products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. [13] Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. [14] The word bitcoin first occurred and was defined in the white paper [15] that was published on 31 October 2008. [16] It is a compound of the words bit and coin . [17] The white paper frequently uses the shorter coin. [15] There is no uniform convention for bitcoin capitalization. Some sources use Bitcoin, capitalized, to Continue reading >>

Fundstrats Tom Lee Reports Bitcoin Mining Now Less Profitable Due To Falling Btc Prices

Fundstrats Tom Lee Reports Bitcoin Mining Now Less Profitable Due To Falling Btc Prices

Fundstrats Tom Lee Reports Bitcoin Mining Now Less Profitable Due To Falling BTC Prices Tom Lee has pointed out in a recent Fundstrat report that BTC miners are just breaking even due to BTCs relatively low price. A recent report by Fundstrats Tom Lee notes that Bitcoin (BTC) mining earnings are currently almost breaking even, as the activity has temporarily become less profitable the midst of the current decline in the markets, CNBC reported yesterday, March 15. Lee notes in the report that the current figure for the cost of mining one bitcoin is $8,038, while BTC is trading at around $8,221 by press time, down a quarter of a percent over a 24 hour period, according to data from CoinMarketCap . The model Fundstrat used for calculating the cost of mining one BTC includes the cost of equipment, overhead such as sustaining cooling apparatuses, and the cost of electricity, assumed to be 6 cents per kilowatt. The head of quantitative data science at Fundstrat, Sam Doctor, said that the cost of replacing equipment takes up more than half of the overall cost of mining. Crypto miners also earn money from transaction fees, which have recently been falling . According to data from BitInfoCharts , the median transaction fee on March 15 was around $0.21, while it had been over $34 dollars on Dec. 23 of last year. Charlie Hayter, CEO of website CryptoCompare, told CNBC that miners are now earning half of what they were in December also due to a rise in popularity of BTC mining, measured by hashrate. According to Fundstrats Doctor, miners are likely to stop mining operations if BTCs price sank to around $3,000 or $4,000. Doctor added that BTC mining had been breaking even in January 2015, when one BTC was equal to between $200 and $300. However, CNBC writes that Chinese BTC miners Continue reading >>

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 >>

Bitcoin

Bitcoin

Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. Today's market cap for all bitcoin (abbreviated BTC or, less frequently, XBT) in circulation exceeds $7 billion. There are no physical bitcoins, only balances kept on a public ledger in the cloud, that along with all Bitcoin transactions is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite its not being legal tender , Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins . Bitcoin is a type of cryptocurrency : Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret, and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins." Bitcoin is one of the first digital Continue reading >>

What Does Bitcoin's Meteoric Rise Mean For Investors?

What Does Bitcoin's Meteoric Rise Mean For Investors?

What Does Bitcoin's Meteoric Rise Mean For Investors? Opinions expressed by Forbes Contributors are their own. Bitcoin has climbed more than 1,300% this year.(Photo by Chesnot/Getty Images) Bitcoin prices have ralliedso far this year, climbing past $16,000 andreturning more than 1,300% year-to-date. These sharp gains have produced many so-called Bitcoin millionaires,as reports have cropped up all over about individuals who have made their fortunes simply by investing in the digital currency. While Bitcoin has enjoyed a meteoric rise this year, what do these sharp gains mean for investors? [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Going forward, investing in Bitcoin - or simply holding the digital currencies - could provide these investors with more returns. However, it could also be a trap, causing these market participants to suffer sharp losses. While some analysts are bullish about what the digital currency's future outlook, others are far more cautious, warning that Bitcoin has entered a bubble and could soon suffer either a correction or an outright crash. Certainanalysts, like Latium CEO and co-founder David Johnson, are very optimistic. "I would say without question we will see Bitcoin above 20k before the end of the year," he said. "Momentum is growing daily and as momentum grows sellers have less reason to sell." Pawel Kuskowski, CEO & co-founder of Coinfirm , a blockchain and regulatory technology firm, also provided a bullish outlook. "Although there are going to be dips or what the industry calls corrections, the market and I mean the mass or traditional market is beginning to see the legitimacy of bitcoin," a developmen Continue reading >>

Bitcoin: What Does Mining A Bitcoin Really Mean? | The Economic Times

Bitcoin: What Does Mining A Bitcoin Really Mean? | The Economic Times

ET Home Industry Banking/Finance Banking What does mining a bitcoin really mean? 2017 was the year when curiosity about the Bitcoin hit an all-time high, thanks largely to a dramatic surge in its value. Notwithstanding recent fluctuations in its price, interest remains strong in the original cryptocurrency, which was launched in 2009. One question everybody has is what is the process of 'mining' that creates new Bitcoins and how does the blockchain technology underpinning the cryptocurrency really work. Here's how... Continue reading >>

What Is Bitcoin? - Definition From Whatis.com

What Is Bitcoin? - Definition From Whatis.com

SAP FICO (SAP Finance and SAP Controlling) Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government.Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment. Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer ( P2P ) network. The P2P network monitors and verifies the transfer of Bitcoins between users. Each user's Bitcoins are stored in a program called a digital wallet , which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user. The Bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and the network is set up to regulate itself to deal with inflation.Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer's wallet to a Bitcoin address in the vendor's wallet. As of this writing, one Bitcoin (also called a BTC) is worth $104 -- but just as with stocks, the value of Bitcoins can fluctuate quickly. In the United States, Bitcoins are controversial because they can be used to anonymously transfer illicit funds or hide unreported income from the Internal Revenue Service (IRS). Bitcoin policy now requires transactions that involve traditional, government-backed currencies to be attached to an identity. This CNN video provides an overview of Bitcoin: Continue reading >>

More in cryptocurrency