Re: bitcoins

#2
adoyleleiva1991 wrote:
February 7th, 2018, 8:58 pm
How are bitcoins created?
The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardware and collect bitcoins in exchange for this service.

The Bitcoin protocol is designed so that new bitcoins are created at a fixed rate. This makes bitcoin mining a very competitive business. The more miners access the network, the greater the difficulty in obtaining benefits and the miners must seek the greatest efficiency to reduce their operating costs. No central authority or developer has the power to control or manipulate the system to increase its benefits. Every Bitcoin node in the world will automatically reject everything that does not conform to the standards expected of the system to follow.
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Re: bitcoins

#3
josehernandez wrote:
February 7th, 2018, 9:11 pm
adoyleleiva1991 wrote:
February 7th, 2018, 8:58 pm
How are bitcoins created?
The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardware and collect bitcoins in exchange for this service.

The Bitcoin protocol is designed so that new bitcoins are created at a fixed rate. This makes bitcoin mining a very competitive business. The more miners access the network, the greater the difficulty in obtaining benefits and the miners must seek the greatest efficiency to reduce their operating costs. No central authority or developer has the power to control or manipulate the system to increase its benefits. Every Bitcoin node in the world will automatically reject everything that does not conform to the standards expected of the system to follow.
Bitcoins are created at predictable and decreasing speeds. The number of bitcoins created each year is reduced by half automatically over time until the bitcoin emission stops completely when it reaches 21 million bitcoins. At this point, bitcoin miners are likely to be held exclusively by the numerous small transaction fees.
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Re: bitcoins

#4
adoyleleiva1991 wrote:
February 7th, 2018, 8:58 pm
How are bitcoins created?
In effect, cryptographic currencies, such as Bitcoin, are generated using certain algorithms, and to achieve them, as well as to manage transactions, process power is needed. Putting your computer to work to create new blocks and approve transactions is what is known as mining Bitcoins.
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Re: bitcoins

#5
josehernandez wrote:
February 7th, 2018, 9:11 pm
josehernandez wrote:
February 7th, 2018, 9:11 pm
adoyleleiva1991 wrote:
February 7th, 2018, 8:58 pm
How are bitcoins created?
The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardware and collect bitcoins in exchange for this service.

The Bitcoin protocol is designed so that new bitcoins are created at a fixed rate. This makes bitcoin mining a very competitive business. The more miners access the network, the greater the difficulty in obtaining benefits and the miners must seek the greatest efficiency to reduce their operating costs. No central authority or developer has the power to control or manipulate the system to increase its benefits. Every Bitcoin node in the world will automatically reject everything that does not conform to the standards expected of the system to follow.
Bitcoins are created at predictable and decreasing speeds. The number of bitcoins created each year is reduced by half automatically over time until the bitcoin emission stops completely when it reaches 21 million bitcoins. At this point, bitcoin miners are likely to be held exclusively by the numerous small transaction fees.
good point!! :D
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Re: bitcoins

#6
adoyleleiva1991 wrote:
February 7th, 2018, 8:59 pm
Why are bitcoins worth?
Bitcoins have value because they are useful as currency. It has the characteristics of money (durability, portability, fungibility, scarcity, divisibility and recognizability) based on mathematical properties instead of relying on physical properties (such as gold and silver) or relying on centralist authorities (such as fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that this kind of money needs to maintain its value is trust and adoption. In the case of Bitcoin, we can measure it with its growth in users, merchants and nascent companies. Like any currency, the value of Bitcoin is obtained directly and directly from people who want to accept it as payment.
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Re: bitcoins

#7
rociaortega wrote:
February 7th, 2018, 9:20 pm
josehernandez wrote:
February 7th, 2018, 9:11 pm
josehernandez wrote:
February 7th, 2018, 9:11 pm


The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardware and collect bitcoins in exchange for this service.

The Bitcoin protocol is designed so that new bitcoins are created at a fixed rate. This makes bitcoin mining a very competitive business. The more miners access the network, the greater the difficulty in obtaining benefits and the miners must seek the greatest efficiency to reduce their operating costs. No central authority or developer has the power to control or manipulate the system to increase its benefits. Every Bitcoin node in the world will automatically reject everything that does not conform to the standards expected of the system to follow.
Bitcoins are created at predictable and decreasing speeds. The number of bitcoins created each year is reduced by half automatically over time until the bitcoin emission stops completely when it reaches 21 million bitcoins. At this point, bitcoin miners are likely to be held exclusively by the numerous small transaction fees.
good point!! :D
thanks
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Re: bitcoins

#8
rociaortega wrote:
February 7th, 2018, 9:21 pm
adoyleleiva1991 wrote:
February 7th, 2018, 8:59 pm
Why are bitcoins worth?
Bitcoins have value because they are useful as currency. It has the characteristics of money (durability, portability, fungibility, scarcity, divisibility and recognizability) based on mathematical properties instead of relying on physical properties (such as gold and silver) or relying on centralist authorities (such as fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that this kind of money needs to maintain its value is trust and adoption. In the case of Bitcoin, we can measure it with its growth in users, merchants and nascent companies. Like any currency, the value of Bitcoin is obtained directly and directly from people who want to accept it as payment.
thanks for the information @rociaortega
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Re: How are Bitcoins created? Why are Bitcoins worth?

#9
I can agree with the point of merchants using it.

The main issues is still:
- Time
- Volatility
- Supply (Mining Cap)

With time, the time to make payment must be made instant for merchants and others to consider using it mainstream
With volatility, the prices spike up and down too much for the buyer to take payment without big risks
With supply, there will be a mining cap at 2040 (for BTC, not crypto), the supply would only come from people with it. There is no barrier to not create a market crash and screw with all the people who held on for the long run, unlike cash and $1 value controlled by the banks and government,\
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Re: How are Bitcoins created? Why are Bitcoins worth?

#10
Even if BTC is in retreat, the change it has made in the market, in economics, finance and banking is simply impossible to evaluate. Thanks to it, blockchain technology has become a topic that has been developed by the largest technological companies. Cryptocurrencies began to be the subject of even legislation (not to mention mass consciousness, mass media and art). Thanks to the success of bitcoin, other cryptocurrencies are developing today. However, I do not recommend investing too much in BTC. This is no longer a game for ordinary players. And these rumors about the price manipulation ... It's better to invest in altcoins - in my opinion. Now CoinDeal.com introduces a lot of interesting new currencies on the exchange (eg EOS https://coindeal.com/news/EOS-available ... e-surprise). But this is only my humble opinion and I will gladly know your opinion.
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