What is Bitcoin Difficulty?

What is Bitcoin Difficulty?

The best way to think about Bitcoin difficulty is to view it as the maximum amount of computing power it will take to find a particular block reward. The difficulty number is what helps keep the Bitcoin block time at around ten minutes. As more hashing power is added...
What Determines Bitcoin Value?

What Determines Bitcoin Value?

One of the main criticisms made when it comes to the value of bitcoins is that there is no central authority that can control the price of the digital currency over a long period of time. This lack of price stability has caused problems for some users over the short...
Why Should Everyone Use Bitcoin?

Why Should Everyone Use Bitcoin?

One of the best attributes of Bitcoin is that there is no single reason that new people are flocking to the payment system on a daily basis. Some Bitcoin users are merchants who want to cut down on payment processing fees, while others are just trying to find a cheap...
What is Bitcoin Fork?

What is Bitcoin Fork?

About the author of the following guest post: Ariel Horwitz is a Bitcoin activist, educator, consultant and writer for 99bitcoins. He has been involved with the Israeli Bitcoin Association, The Bitcoin Embassy in Tel Aviv, and has founded AlefBit — the first Bitcoin...
What is Bitcoin Mining?

What is Bitcoin Mining?

One of the challenges of understanding Bitcoin mining is that it is actually a terrible name for what Bitcoin miners are really doing with their computer power. Miners are actually the custodians of the transaction ledger known as the Bitcoin blockchain. Although...
Is Bitcoin a Ponzi Scheme?

Is Bitcoin a Ponzi Scheme?

Although the critics of Bitcoin don’t bring up this accusation as much as they did in the early days of cryptocurrencies, there are still a few people out there who believe that the digital currency is nothing more than a Ponzi scheme. These naysayers see the price of...

How to Store Bitcoins: Types of Bitcoin Wallets

The Bitcoin address together with the private key of the Bitcoin wallet are the two main components when purchasing goods and services with this cryptocurrency. Bitcoin wallets can be of different types, forms and designs, and their goal is to protect your bitcoins...
Is Bitcoin Secure?

Is Bitcoin Secure?

One of the main issues that has been holding back mass adoption of Bitcoin as a payment system and currency is the notion that it is not secure. There have been plenty of hacks and frauds in the Bitcoin ecosystem, so people who are unsure of the digital currency...
Is Bitcoin Legal?

Is Bitcoin Legal?

With all of the negative publicity related to drugs and investment scams found whenever Bitcoin is mentioned in the mainstream media, there are plenty of people out there who believe that the digital currency is illegal. While there have been harsh statements made in...
Where to Spend Bitcoins

Where to Spend Bitcoins

In the early days of Bitcoin, many critics would point out the fact that the digital commodity could not be considered money because there really wasn’t much you could do with it. Although there were a few websites that sold niche items, such as alpaca socks, there...
How to Get Paid with Bitcoins

How to Get Paid with Bitcoins

While Bitcoin is often hyped as one of the most revolutionary inventions of our time, there are still some issues when it comes to figuring out how it all works. Sending and receiving payments is not as straightforward as it will probably be in the future, and there...
How to Pay with Bitcoins

How to Pay with Bitcoins

How to Pay with Bitcoins Learning how to use Bitcoin can still be quite difficult for new users because the easy-to-use layers on top of the underlying protocol are still being created at this point in time. Having said that, most people who have used digital payment...