Bitcoin is a consensual network that enables a new payment system and a fully digital currency. It is the first peer decentralized network driven by its users pay no central authority or intermediaries. From a user standpoint, as Bitcoin is Internet money. Bitcoin may be the only existing triple accounting system.
Since the 1970s, the use of digital signatures based on public key cryptography has provided strong property inspection. Based on public key cryptography, in 1998 Dai Wei described b-Money, a decentralized solution to the problem of electronic payments. Later, Nick Szabo and Hal Finney extend and complement the work of Dai Wei.
In 2008, Satoshi Nakamoto published an article in the list of cryptography metzdowd.com describing the Bitcoin protocol.
On January 3, 2009 the Bitcoin P2P network is operational with the publication of the first client, open source, and the creation of the first bitcoines. Until the invention of bitcoin was required that all payments in e-commerce is channeled through trusted centralized institutions, usually banks and other financial companies, which managed the tracking of all transactions.
¿WHAT IS A SATOSHI?
Well, Bitcoin was presented through a "paper", as he says to the technical presentation of a project, one (or several) person (s) named Satoshi Nakamoto.
In the "paper" the characteristics of distributed network system are explained, chain blocks, etc. everything related to Bitcoin.
Recall that one of its features is that only exist bitcoin 21 million units, but each can be divided to the eighth decimal (0.00000001). She is already minimal bitcoin to Satoshi called in honor of who created the whole system.
ThTherefore, when we talk about pay 100 satoshis you see an online advertising means you pay 0.00000100 bitcoin.
The bitcoin digital currency is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin mainly motivated by the valorized bitcoin price in USD (the USD bitcoin exchange).
How Bitcoin Works
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users. Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in bitcoins for this service. This is often called "mining".
Bitcoin Wallets (BTC Wallet)
Bitcoin Wallets are file which store your bitcoins. They work as a bitcoin app keeping and updating your bitcoins balance. So, if you want to have bitcoins you should have a BTC Wallet. There are a lot of bitcoin wallets working online and offline. Take a look in this link to know more about bitcoin wallets and to choose a BTC wallet for you: Bitcoin Wallets
- Payment Freedom - No government or bank controls when you send or receive Bitcoins through the bitcoin payment system
- Controlled Fees - There is no fee to receive Bitcoins, and it's a much better price to send Bitcoin than to pay with PayPal or credit cards over traditional networks
- Lower Risk for Merchants - Bitcoin is secure, irreversible, and completely free of personal information
- Personal Security - It is impossible for a merchant to force a charge, and again, no personal information is attached to the payment
- Transparent and Neutral - Everything Bitcoin is verifiable by the community, and there is no opportunity for any individual organization to seize unfair control (see all of the information for yourself)
- Totally Digital - The Bitcoin Digital Currency is 100% logical. You can send bitcoins to the other side of world in minutes using a bitcoin app, for example. The same is valid for your BTC wallet. Keep all your bitcoins inside your smartphone through a bitcoin app.
- Valorized Bitcoin Price in USD (1 BTC to USD) - The recently BTC exchange rate is 1 BTC = 120.00~170.00 USD.
How to Start Earning?
- You'll need a BTC wallet. It's a bitcoin app. A BTC wallet gives you an address to receive and store bitcoins. Create yours at blockchain.info.
- The most easy way to get coins is using a bitcoin faucet (other kind of bitcoin app). Bitcoin Faucet is a site which wins money showing ads. They get traffic offering free coins. You could use a bitcoin faucet list to find good faucets easier.
- How to get coins from faucets? Paste your bitcoin address in the bitcoin faucet text box, solve a Captcha and click in GET REWARD or CLAIM buttons.
- Your earnings may grow faster if you use a bitcoin faucet rotator.
How to Create Bitcoins?
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions.
It is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.
Bitcoin Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
What is Bitcoin Faucet?
Bitcoin faucet is a website that gives out free bitcoins (BTC) in exchange for doing a simple task, such as solving a CAPTCHA or viewing a webpage for a certain amount of time. It works as a free bitcoin app for web. There are also faucets that dispense alternative cryptocurrencies.
In addition to, you can find a lot of sites ehich work as a bitcoin faucet list. They list a lot of faucets ordered by greater reward for example.