Bitcoin (BTC) Trading Up 12.1% This Week
Here’s how similar cryptocurrencies have performed during the last day:
- Bitcoin Cash (BCH) traded up 1.6% against the dollar and now trades at $110.25 or 0.00510621 BTC.
- Bitcoin SV (BSV) traded 1.9% higher against the dollar and now trades at $56.76 or 0.00262893 BTC.
- Steem (STEEM) traded 13.4% higher against the dollar and now trades at $0.26 or 0.00001214 BTC.
- Alpha Coin (ALPHA) traded up 0.8% against the dollar and now trades at $0.0079 or 0.00000037 BTC.
- Namecoin (NMC) traded 0.6% higher against the dollar and now trades at $1.17 or 0.00005433 BTC.
- Coin of champions (COC) traded down 0.5% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Counterparty (XCP) traded 2.5% lower against the dollar and now trades at $2.83 or 0.00013102 BTC.
- Bogged Finance (BOG) traded up 19.1% against the dollar and now trades at $0.45 or 0.00001469 BTC.
- DAOBet (BET) traded flat against the dollar and now trades at $0.0318 or 0.00000056 BTC.
- Uno Re (UNO) traded down 1% against the dollar and now trades at $0.0522 or 0.00000242 BTC.
About Bitcoin
Bitcoin (BTC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on January 3rd, 2009. Bitcoin’s total supply is 19,089,237 coins. The Reddit community for Bitcoin is /r/bitcoin and the currency’s Github account can be viewed here. Bitcoin’s official Twitter account is @bitcoin and its Facebook page is accessible here. The official message board for Bitcoin is bitcointalk.org. The official website for Bitcoin is bitcoin.org.
According to CryptoCompare, “Balances – block chain 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. Transactions – private keys 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. Processing – 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 must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends. “
Buying and Selling Bitcoin
Investors seeking to acquire Bitcoin using US dollars directly can do so using Coinbase, GDAX or Gemini.
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