Bitcoin code is entirely open source, meaning anyone can review the project's code for legitimacy. Coupled with Bitcoin's ability to generate 'proof of work', the currency is rather difficult to exploit. There are several ways to get started, but most people start with the official Bitcoin client. One of the best ways to make coinage, is through Bitcoin mining, so we will have subsequent and detailed posts on mining. For now though, you may want to set up a cloud wallet at places like MyBitcoin, or check out some secure storage options at Instawallet. I also advise you join the forum, as there is a lot to learn and people to network with. Keep checking back for more insight, links, and videos.
Showing posts with label p2p. Show all posts
Showing posts with label p2p. Show all posts
Friday, June 24, 2011
What Is Bitcoin?
Bitcoin is a revolutionary form of digital currency, invented by Satoshi Nakamoto. Bitcoin, or BTC, is genius in it's design, due to it's grass-roots distribution style, as well as it's advanced application of cryptography techniques. This mathematical backing and lack of central control makes the Bitcoin market a very fair playing field, and thus very attractive.
"Governments are good at cutting off the heads of a centrally
controlled networks like Napster, but pure P2P networks
like Gnutella and Tor seem to be holding their own.."
--Satoshi Nakamoto
Bitcoin is the future.
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