When it comes to Bitcoin, there is a lot that people still don’t know how it works. On the surface, Bitcoin can look like a chain of time-stamped blocks; however, it is much more than that. Everyone needs to understand how Bitcoin is a network because it will make the
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Bitcoin uses a significant amount of energy to conduct mining. In fact, the amount of energy consumed for electricity is similar to all that the nation of Denmark uses. The question has become, is it a waste of electricity? Bitcoin uses energy that directly converts to money. Can any other
Those new to Bitcoin and mining Bitcoin may not realize how controversial energy consumption is within the financial community. Many media have falsely compared the amount of electricity needed to process a single VISA credit card transaction to Bitcoin transactions. The reasoning behind this is that every industry should do
So you heard the term hashing, but unless you have a background in computer science, you probably aren’t quite sure what that means. Let’s take a look at hashing in terms of cooking. When we hash something for example, like hash browns, we are chopping up potatoes and mixing them
Cryptocurrency has become popular because of the blockchains that carry information about every transaction. While you may have heard Bitcoin offering anonymity, it’s important to look at what it does and doesn’t offer. Bitcoin is traceable, but only in certain aspects. One of the reasons why bitcoin became so popular
In December of 2017, Bitcoin reached its highest price ever at $19,783. The year of 2017 was a wild ride because Bitcoin started that year at around $1,000. Investors who bought Bitcoin at the beginning of 2017 and sold it at its peak made nearly twenty times their investment. However,
Cryptocurrency can be overwhelming. Terms are thrown back and forth, making it difficult to understand the conversations. Many people invest without taking the time to understand the key terms. You can be more successful with Bitcoin and the entire cryptocurrency market when you’re more familiar with the terms used. We’ve