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
When people think about Bitcoin, they often think about the proof-of-work, which is often shortened to PoW. Bitcoin PoW has been called many things, and one of the things that it is commonly called is wasteful. For those who are saying that Bitcoin PoW is wasteful and expensive, these terms
Hodling is a buy and hold strategy that is most useful in the context of cryptocurrency. HODL is simply a misspelling of the term hold, also a term that is very popular in the world of bitcoin and crypto. So, where did HODL come from? The Origin of HODL The term
Bitcoin is a type of digital currency that operates on a decentralized distributed network. In this manner, Bitcoin is not a fiat currency. Instead, it does not have a central arbiter, which makes it different from a traditional form of currency, such as the dollar or pound. Many people thought
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
There are a lot of people who are looking to get involved in Bitcoin mining. This is an excellent way for people to get involved in Bitcoin while also making money. At the same time, you might have heard about something known as the centralization of Bitcoin mining. Some people
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
If you are looking to join the world of cryptocurrency trading, safety should be your top priority. One small mistake, and you lose all your coins and assets. You don’t want that to happen. Keeping up with crypto best practices is indeed a challenging undertaking for most buyers and investors,
Proof-of-Work, or PoW, is a very crucial protocol that Bitcoin networks use to confirm all transactions and add new blocks to their chains. With a Proof-of-Work protocol in place, Bitcoin miners strive to complete as many transactions as possible to get rewarded. We are going to look at what exactly
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,
