Crypto Currency

All You Need To Know About Bitcoin And How It Works

As with everything in life, there is always evolvement as the years go by, and the currency industry is certainly…

As with everything in life, there is always evolvement as the years go by, and the currency industry is certainly not excluded from that. You see, with the fantastic advancement in technology, the idea of having money in physical form just seems like a constant tie to the 17th century.

Now, although physical money is still utilized heavily worldwide, and will probably continue to be, there has been an attempt to bring the use of currency into the modern era. It is known as Bitcoin, and although people generally picture glistening coins on a screen in their mind, it’s actually just an intelligent piece of software.

Essentially, it’s a virtual form of currency consisting of a multitude of protocols, which allows you to make transactions on the web anonymously. Most people are completely unaware of how it all works, which is why we’re going to explain it to you.

Bitcoin does not operate individually; it works in harmony with the renowned Blockchain technology. Despite Blockchain being incredibly versatile in the way it stores information, and powers different software, it focuses solely on transactions when used for Bitcoin. The way transactions appear in the Blockchain is with numbers and letters,
and it can almost be considered as a never-ending list.

For instance, if you wanted to send some money to your mother safely, quickly and anonymously, all you’d have to do is acquire her public key. Once you’ve got that, you’d verify your identity and then send her the desired amount of Bitcoin. Following that, the Bitcoin could be accessed by using a wallet, which is basically a set of keys. Nowadays, the majority of people use a Bitcoin exchange to host their wallet on a convenient platform.

But, even though you and your mother would know you’re sending the virtual currency, if someone was to look at the Blockchain, they might see something like – ‘19Fir42eP8azO0sHH5tq8q91ia77sW2vG5 sent 1.10856330 to 15Jo3xz94Pd1Sb7rt01aW2qAa68m1h33Ez on December 5, 2020, at around 21:15′.

Moving on, a distinct feature of the way Blockchain works is that it is extremely secure, and as you’re not displaying your identity, it’s very hard for you to be targeted by a cyber attack. Also, the Blockchain ledger that all transactions are directed to is completely accessible to the public, which means that it’s immensely difficult for someone to
tamper with or alter it.

All in all, Bitcoin works through superbly-constructed software that stores transactions on the Blockchain technology, and can then be accessed through an encrypted virtual wallet. So, rather than sending money, you’ll be sending multiple lines of code in place of it.

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Crypto Currency

What’s next for SEI after reclaiming $0.30? Check forecast

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Key takeaways SEI has reclaimed the $0.30 psychological level, paving the way for further rally. The positive performance comes despite Bitcoin and other major cryptocurrencies recording losses. SEI rallies as BTC and others falter SEI, the 47th-largest cryptocurrency by market cap, is one of the best performers in the top 100 over the last 24 […]
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Crypto Currency

Bitcoin slides, Ether, XRP, Dogecoin move lower ahead of Fed Chair’s final Jackson Hole speech

Key Takeaways Bitcoin and altcoins fell in a broad crypto market decline ahead of the Fed Chair’s Jackson Hole speech. Market volatility increased as investors anticipated possible Fed rate changes and reacted to ongoing inflation concerns. Share this article Bitcoin slipped under $113,000 on Tuesday, triggering a market-wide downturn that sent Ethereum, XRP, and Solana

Key Takeaways

  • Bitcoin and altcoins fell in a broad crypto market decline ahead of the Fed Chair’s Jackson Hole speech.
  • Market volatility increased as investors anticipated possible Fed rate changes and reacted to ongoing inflation concerns.

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Bitcoin slipped under $113,000 on Tuesday, triggering a market-wide downturn that sent Ethereum, XRP, and Solana lower. The total crypto sector fell to $3.8 trillion, down 3.5% on the day.

The price of Bitcoin dropped nearly 3% in the last day to $112,696, marking a return to levels not seen since the beginning of the month, CoinGecko data shows.

Ether dropped more than 4% to $4,100 after flirting with record highs in the past few days. Losses are spread across major altcoins, with XRP down nearly 6%, Dogecoin and Chainlink off over 5%, and Sei and Cardano plunging 8%.

The pullback comes ahead of the Fed’s Jackson Hole symposium on Friday, where Chair Jerome Powell is scheduled to deliver his keynote address. Markets are bracing for whether he signals a September rate cut or doubles down on inflation concerns, especially after US inflation data offered mixed signals in July.

The headline CPI slowed to 2.7% but core inflation edged up to 3.1% and PPI climbed 3.3%. The combination of weakening job growth and persistent price pressures has raised stagflation fears, which could complicate the Fed’s decision-making.

“Higher‑than‑expected PPI numbers (producer prices jumped 0.9% month‑on‑month against a 0.2% forecast) have complicated the Fed’s policy framework, so the market will be looking for hints on the Fed’s thinking ahead of its September policy meeting,” said QCP Capital analysts in a statement. “Last year, Powell used Jackson Hole to telegraph an easing bias; this year, Trump’s tariffs and political pressure create a much more contentious backdrop.”

Traders are still pricing in a 25-basis-point cut at the September 17 FOMC meeting, though odds have eased following hotter-than-expected inflation readings.

Analysts predict Powell will be cautious during his final Jackson Hole speech. The Fed Chair may acknowledge that risks to employment and inflation are balancing, suggesting a cut could be appropriate if trends continue, but he is unlikely to commit to a specific policy action.

Since expectations for a September cut are already priced in, any hint that action might be delayed could feel like a tightening of policy for investors.

However, signals that quantitative tightening may end or that regulatory shifts are coming could boost liquidity and potentially reignite Bitcoin’s rally toward year-end, analysts suggest.

Elsewhere, US stocks also reflected uncertainty at Tuesday’s market close.

The S&P 500 fell nearly 0.6% and the Nasdaq Composite dropped around 1.5%, while the Dow Jones Industrial Average edged up.

Tech and chipmakers led losses, with Nvidia down 3.5%, AMD off 5.4%, and Broadcom lower by 3.6%. Palantir sank 9%, the worst S&P 500 performer, while Tesla, Meta, and Netflix also slipped.

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David Bailey’s Bitcoin treasury KindlyMD acquires $679 million in BTC

Key Takeaways KindlyMD acquired 5,744 Bitcoin worth approximately $679 million through its subsidiary Nakamoto Holdings. The purchase is part of KindlyMD’s strategy to accumulate one million Bitcoin as a corporate reserve asset. Share this article KindlyMD, led by President Donald Trump’s Bitcoin advisor David Bailey, announced Tuesday it had spent approximately $679 million to accumulate

Key Takeaways

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KindlyMD, led by President Donald Trump’s Bitcoin advisor David Bailey, announced Tuesday it had spent approximately $679 million to accumulate around 5,744 Bitcoin.

With the latest acquisition, KindlyMD’s Bitcoin stash surpasses 5,764 units, equating to over $655 million at current prices of about $113,840. The company used PIPE proceeds for the purchase as part of its strategy to acquire one million Bitcoin under the Nakamoto Bitcoin Treasury.

Commenting on KindlyMD’s BTC purchase, the first since it completed its merger with Nakamoto Holdings, CEO Bailey reiterated that his team is doubling down on Bitcoin as a cornerstone asset for the future.

“Our long-term mission of accumulating one million Bitcoin reflects our belief that Bitcoin will anchor the next era of global finance, and we are committed to building the most trusted and transparent vehicle to achieve that future,” he added.

KindlyMD now ranks sixteenth among corporate Bitcoin holders, ahead of firms like Semler Scientific and GameStop.

Shares of the company (NAKA) fell 14% at Tuesday’s open as Bitcoin slipped from above $115,800 to $113,846 amid a market-wide pullback.

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