Is bitcoin a vulnerable asset?

Bitcoin was designed with robustness in mind. It does not require or permit a central coordinating entity, it relies on a network of peers, and available for anyone one to use. Potential vulnerabilities include concentration of mining pools, geographic location of miners, which are mostly in China, and novelty with its code. However, Bitcoin has […]

How does bitcoin work?

Bitcoin is a peer-to-peer digital currency technology that relies on public key cryptography and proof-of-work to process and verify payments. Payment transactions are broadcast by users and included into Bitcoin’s blockchain by miners. Bitcoin requires no central coordinating entity and can be run by anyone around the world.

What is bitcoin?

Bitcoin is a digital currency created in 2009 that enables payments to network participants anywhere in the world. Bitcoins are kept on a public ledger that everyone has transparent access to, are not issued or backed by any government or bank and are not legal tender. For more information: https://www.investopedia.com/terms/b/bitcoin.asp

Is bitcoin secure?

Bitcoin is based on well-defined technologies and secured by billions of dollars of capital. It uses public key cryptography and cryptographic hash functions, technologies pioneered by the National Security Agency (NSA). Proof-of-work ensures that large amounts of computational resources are required to subvert the network. Bitcoin is still nascent and ever changing, however, and bugs […]

Is bitcoin legal?

Yes, Bitcoin is legal. No U.S. state or federal regulatory authority or government has indicated that it is illegal. In fact, many have spoken about the exciting innovation possible with digital assets as long as the risks are controlled.

Who are the bitcoin miners?

Miners perform the vital function of securing and propagating Bitcoin blockchain. In return for fees, miners write new data, in the form of transactions, into the blockchain and find new blocks with which to add to the blockchain. The computational resources miners expend ensure Bitcoin’s blockchain is not subverted by nefarious actors who wish to […]