Cryptocurrency can be a scary place for those just getting started with so much to learn and seemingly danger everywhere of doing something wrong, and losing your money. A new user is likely to have a lot of questions, such as what is the safest way to store Bitcoin? What Bitcoin wallet to use?
Since 2009, and especially in the last two years, we have been hearing curious words such as “cryptocurrency,” “bitcoin,” and “blockchain” thrown about… These evoke a feeling of mystery in most people, as if they were spells or magical incantations for those who are in the “circle of trust.”
In the last article, we talked about the imperfections of the bitcoin and blockchain technologies and looked at some of the myths. As promised, today we will talk about what should be done to fix those flaws and how blockchain technology has already been improved and made to work more efficiently.
Hello, everyone! We continue our look at bitcoin and blockchain technology with the second article in the series. Last time, we explained what the blockchain and bitcoin are. Today, we will discuss some of their important features and debunk a few myths.
For those who don’t know, mining is the process of using your computing power to support the network of a cryptocurrency and verify transactions. For cryptocurrencies which use proof of work – the miners’ computers perform mathematical computations which are very difficult to perform but easy to validate, and this is the system by which new transactions are validated and added to the blockchain.
This is the 10th installment in our ten-article series, dedicated to providing our readers with the theoretical background necessary for an understanding of the cryptocurrency space. Today, we will look at what is going on with Bitcoin – why its price has been dropping like a stone in the last two months. Is this a result of a change in its valuation or intrinsic value, or caused by non-economy-related factors?