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February 22, 2018
How and from where is Bitcoin mined?
"Bitcoin Mining" seems like these miners are looking for Bitcoin on the web and actually mining them like mining Gold, but how it works isn't really the same. Bitcoin Miners are the ones who are helping Bitcoin market to process trans...
February 22, 2018
If Bitcoin can be sent with zero cost(for free) why users choose to pay for some fees?
Bitcoin can be sent to other wallets without any cost, but this can lead to longer processing time such as a week or more. This is because the Bitcoin community prioritize the transactions which paid higher fees. The amount of bitc...
February 22, 2018
How long a confirmation of Bitcoin transactions can take?
Bitcoin transactions can be made instantly, but the "Confirmation" within the blocks could take a little bit of time. If you have already made some transactions of Bitcoin, you may have noticed that the confirmation isn't necessarily ...
February 22, 2018
What is "confirmation" of Bitcoin transaction? Why is it needed?
The "confirmation" must be made for Bitcoin transactions, to prevent "double-spending" of the currency. The Confirmation will be made within the network, and once your transaction gets confirmed, it will be included in one block and m...
February 22, 2018
Why there are so many different Cryptocurrencies created? Are they any different?
Since the creation of Bitcoin, many developers have been inspired and used Bitcoin's fundamental protocol to create their own Cryptocurrencies. Bitcoin's protocol is open to public and anyone can access to it. Some of them have new...
February 22, 2018
Is there a better Cryptocurrency than Bitcoin? or will there be?
Yes, there can be. It is because Bitcoin's fundamental protocol cannot be changed but new Cryptocurrencies made by some developers could have significant improvements on the base and provide much better service and features for users....
February 22, 2018
When will the mining of Bitcoin be finished?
We don't know the exact date yet, but the mining of Bitcoin will continue for more decades in the future. Until 21 million Bitcoins will be issued, Bitcoin miners should be able to continue their work and dedication for the Crypto-mar...
February 22, 2018
Will Bitcoin market price be volatile forever?
The high volatility within Bitcoin market price is due to its small scale of market. As it is still small in terms of volume, relatively small transactions and news can even affect the market price and move them dramatically. But i...
February 21, 2018
What happens when the Bitcoin Mining is finished? Will it be the limitation of the market?
Bitcoin mining will eventually finish when 21 million Bitcoins are created. No Bitcoin will be created after that. At the same time, Bitcoins can be lost on the web forever in case the owner loses the access to it. Thus this means the...
February 14, 2018
Is Bitcoin a Ponzi scheme?
A Ponzi scheme is a fraudulent investment operation that pays rewards to its investors from their own money, or the money paid by its subsequent investors. Any financial markets can be involved in such activity, and it is the same for...
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