bitcoin history tagged posts

November 2, 2013 / Posted in  Bitcoin

So who runs Bitcoin anyway? Bitcoin is decentralized, no single person, country, or entity manages the Bitcoin infrastructure. The important parts of the Bitcoin infrastructure are:

1. The publicly shared ledger which tracks every single wallet containing every single Bitcoin there is (wallets are tracked but not their owner info). This isn’t on any one computer, it’s shared across all Bitcoin computers all over the world.
2. The Bitcoin clients like Bitcoin-qt and Blockchain.info where all Bitcoins are securely stored by their owners.
3. The miners or volunteers that run the Bitcoin software. The Bitcoin program no longer needs an admin or central authority. Without getting into too much detail, Bitcoin manages itself and is stable and reliable.

These entities all work together via the In...

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October 14, 2013 / Posted in  Bitcoin

Bitcoin has a history shrouded in mystery which is appropriate considering the anonymity it provides. The original concept of Bitcoin came from a figure only known as Satoshi Nakamoto. Supposedly this figure provided much of the original software and technical guidance, then vanished and hasn’t been found since. Wikipedia suggests there is circumstantial evidence linking Satoshi Nakamoto patents with individuals who created the bitcoin.org domain. It is also suggested Satoshi Nakamoto is a famous Japanese mathematician.

Whatever the answer may be, the first Bitcoins were mined on January 3rd 2009 which released the first 50 Bit...

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