Bitcoin is No. 1 Cryptocurrency

Bitcoin – the Mother of All Coins

  • Bitcoin was born on 3rd January 2009.

  • Satoshi Nakamoto invented bitcoin by writing the bitcoin core software.

  • Satoshi Nakamoto is the pseudo name, used by the person or team that worked on Bitcoin software and created it.

  • Bitcoin is a P2P Electronic Cash.

Bitcoin Features:

  • Bitcoin’s final number is fixed to 21 million. Can not be created more bitcoin.

  • New Bitcoins are introduced in the network by a process called mining.

  • By the year 2140, almost all 21 million Bitcoin would have been mined.

Mining:

  • Mining is the process by which, new bitcoins are introduced into the system.

  • The Mining Reward is the number of new bitcoins that are produced at the creation of each new block.

  • Mining reward reduces by half after every 210,000 block creation. The process is called Bitcoin Halving.

  • When Bitcoin Blockchain started, the mining reward was 50 bitcoins per block.

  • At present, the block reward is 12.5 bitcoins per block.

  • Next Bitcoin halving will take place in May 2020.

  • Bitcoin Halving is a very important event, it reduces the new bitcoin supply by 50%.

Bitcoin Transactions:

  • Permission-less and Border-less transactions

  • Censorship Resistant

  • Do not require any ID to create a transaction or to receive bitcoin

  • Irreversible Transactions

  • 24/7, all year

Bitcoin Storage:

  • It is an electronic currency and does not take any physical space to store it.

  • Easy to safely store on various wallets like a paper wallet, USB wallet, etc.

  • It is in direct possession of an owner with no counterparty risk.