Bitcoin : The Ultimate A - Z of Profitable Bitcoin Trading & Mining Guide Exposed!
| Author | : Scott Green |
| Publisher | : Publisher s21017 |
| Total Pages | : 33 |
| Release | : 2015-06-10 |
| ISBN-10 | : 9786050387223 |
| ISBN-13 | : 6050387222 |
| Rating | : 4/5 (222 Downloads) |
Download or read book Bitcoin : The Ultimate A - Z of Profitable Bitcoin Trading & Mining Guide Exposed! written by Scott Green and published by Publisher s21017. This book was released on 2015-06-10 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does the bitcoin protocol work? A person cannot mix indefinite bitcoins. The bitcoin protocol states that there will only be twenty-one million bitcoins to be produced by the miners. These bitcoins will then be subdivided into smaller bits. The smallest bit is called ‘satoshi’ named after the bitcoin founder and the divisible amount is one hundred millionth of a bitcoin. Bitcoin currency is based on mathematical formulas unlike our conventional currency that is based on gold and silver. Mathematics is used to generate or ‘mine’ bitcoins. The software programs containing these mathematical formulas are made available to everyone. This means that anyone can access these formulas to ensure that it serves its purpose.