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Bitcoin
What is the bitcoin means?
 Bitcoin is a digital currency (also called crypto-currency)
that is not backed by any country's central bank or
government.
 Bitcoins can be traded for goods or services with
vendors who accept Bitcoins as payment.
Bitcoin-to-Bitcoin transactions are made by
digitally exchanging anonymous, heavily
encrypted hash codes across a peer-to-peer
(P2P) network.
 The P2P network monitors and verifies the
transfer of Bitcoins between users.
Bitcoin Peer to Peer networking
Digital wallet
 Each user's Bitcoins are stored in a
program called a digital wallet, which also
holds each address the user sends and
receives Bitcoins from, as well as a private
key known only to the user.
How we get that bitcoins?
You can purchase Bitcoins at an online exchange
You can obtain them from an individual who has them
You can accept Bitcoins as payment
You can earn them by supporting the process of
verifying transactions in the Bitcoin system, called
mining.
How are new Bitcoins created?
In order for the Bitcoin system to work, people can make their computer
process transactions for everybody.
The computers are made to work out incredibly difficult sums. Occasionally
they are rewarded with a Bitcoin for the owner to keep.
People set up powerful computers just to try and get Bitcoins. This is called
mining.
But the sums are becoming more and more difficult to stop too many Bitcoins
being generated.
If you started mining now it could be years before you got a single Bitcoin.
You could end up spending more money on electricity for your computer than
the Bitcoin would be worth.
How it works?
Is it secure?
Every transaction is recorded publicly so it's very
difficult to copy Bitcoins, make fake ones or spend
ones you don't own.
It is possible to lose your Bitcoin wallet or delete
your Bitcoins and lose them forever.
 There have also been thefts from websites that let
you store your Bitcoins remotely.
The value of Bitcoins has gone up and down over
the years since it was created in 2009 and some
people don't think it's safe to turn your 'real'
money into Bitcoins.
Common Modes of Bitcoin Theft
Stealing Private Keys.
Exploiting Wallet Vulnerabilities
Operating Fraudulent Exchanges and
Investment Funds.
Attacking Legitimate Exchanges Directly
Attacking Dark Web Marketplaces.
Advantages of Using Bitcoin
It can be used in any country without the need for currency conversion
Sending money to a business or individual costs less per transaction
There are no limits to the number of transactions you can initiate each month
Your account cannot be frozen or suspended
Transactions are irreversible, unlike PayPal payments
You can keep Bitcoins in a digital wallet that is accessible from your phone,
tablet, or computer
Disadvantages of Using Bitcoin
Exposure to Bitcoin-Specific Scams and Fraud
Black Market Activity May Damage Reputation and Usefulness
Susceptible to High Price Volatility
 No Chargebacks or Refunds
Potential to Be Replaced by Superior Cryptocurrency
 Environmental Ills of Bitcoin Mining
Bitcoin price index from January 2016 to October 2019
(US $)
What Is a Cryptocurrency Airdrop?
Airdrops can be defined as the process whereby a cryptocurrency
enterprise distributes cryptocurrency tokens to the wallets of some users
free of charge.
Airdrops are usually carried out by blockchain-based startups to bootstrap
their cryptocurrency projects.
Also, established blockchain-based enterprises like cryptocurrency
exchange platforms and wallet services can also carry out airdrops as well.
What are the other types of crypto currency?
Zcash
Ethereum
Ripple
Bitcoin Cash
Cardano
Litecoin
Stellar
NEO
IOTA
Dash
Monero
Tron
K.K.Layani Malsha
https://infotecinformation.wordpress.com/

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Bitcoin

  • 2. What is the bitcoin means?  Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government.  Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.
  • 3. Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer (P2P) network.  The P2P network monitors and verifies the transfer of Bitcoins between users. Bitcoin Peer to Peer networking
  • 4. Digital wallet  Each user's Bitcoins are stored in a program called a digital wallet, which also holds each address the user sends and receives Bitcoins from, as well as a private key known only to the user.
  • 5. How we get that bitcoins? You can purchase Bitcoins at an online exchange You can obtain them from an individual who has them You can accept Bitcoins as payment You can earn them by supporting the process of verifying transactions in the Bitcoin system, called mining.
  • 6. How are new Bitcoins created? In order for the Bitcoin system to work, people can make their computer process transactions for everybody. The computers are made to work out incredibly difficult sums. Occasionally they are rewarded with a Bitcoin for the owner to keep. People set up powerful computers just to try and get Bitcoins. This is called mining. But the sums are becoming more and more difficult to stop too many Bitcoins being generated. If you started mining now it could be years before you got a single Bitcoin. You could end up spending more money on electricity for your computer than the Bitcoin would be worth.
  • 8. Is it secure? Every transaction is recorded publicly so it's very difficult to copy Bitcoins, make fake ones or spend ones you don't own. It is possible to lose your Bitcoin wallet or delete your Bitcoins and lose them forever.  There have also been thefts from websites that let you store your Bitcoins remotely. The value of Bitcoins has gone up and down over the years since it was created in 2009 and some people don't think it's safe to turn your 'real' money into Bitcoins.
  • 9. Common Modes of Bitcoin Theft Stealing Private Keys. Exploiting Wallet Vulnerabilities Operating Fraudulent Exchanges and Investment Funds. Attacking Legitimate Exchanges Directly Attacking Dark Web Marketplaces.
  • 10. Advantages of Using Bitcoin It can be used in any country without the need for currency conversion Sending money to a business or individual costs less per transaction There are no limits to the number of transactions you can initiate each month Your account cannot be frozen or suspended Transactions are irreversible, unlike PayPal payments You can keep Bitcoins in a digital wallet that is accessible from your phone, tablet, or computer
  • 11. Disadvantages of Using Bitcoin Exposure to Bitcoin-Specific Scams and Fraud Black Market Activity May Damage Reputation and Usefulness Susceptible to High Price Volatility  No Chargebacks or Refunds Potential to Be Replaced by Superior Cryptocurrency  Environmental Ills of Bitcoin Mining
  • 12. Bitcoin price index from January 2016 to October 2019 (US $)
  • 13. What Is a Cryptocurrency Airdrop? Airdrops can be defined as the process whereby a cryptocurrency enterprise distributes cryptocurrency tokens to the wallets of some users free of charge. Airdrops are usually carried out by blockchain-based startups to bootstrap their cryptocurrency projects. Also, established blockchain-based enterprises like cryptocurrency exchange platforms and wallet services can also carry out airdrops as well.
  • 14. What are the other types of crypto currency? Zcash Ethereum Ripple Bitcoin Cash Cardano Litecoin Stellar NEO IOTA Dash Monero Tron