Bitcoin Wiki - User contributions [en]

User:MeshCollider

2018-12-23T08:03:06Z

MeshCollider:

I am Samuel Dobson, Bitcoin Core wallet maintainer and moderator of the Bitcoin StackExchange. You can find me on [https://github.com/MeshCollider GitHub], [https://keybase.io/meshcollider keybase.io] and [https://bitcoin.stackexchange.com/users/51948/meshcollider Bitcoin.SE]

IRC channels

2018-11-21T07:53:53Z

MeshCollider: Remove botbot from IRC log list now it has closed down

Most of the following Bitcoin-related IRC channels are available on [http://www.freenode.net Freenode]:

Please read: [[Bitcoin IRC Channel Guidelines]] before joining.

==Bitcoin Project==
{| class="wikitable"
! Channel !! Description
|-
| {{Freenode IRC|bitcoin}} || General Bitcoin-related discussion and support. ([[Bitcoin_IRC_Channel_Guidelines | guidelines]]).
|-
| {{Freenode IRC|bitcoin-dev}} || Dead. Formerly for Bitcoin software development. ([http://bitcoinstats.com/irc/bitcoin-dev/logs/ history]. [[Bitcoin-dev | guidelines]])
|-
| {{Freenode IRC|bitcoin-commits}} || Real-time notification of commits to Bitcoin projects.
|-
| {{Freenode IRC|bitcoin-core-dev}} || For development of Bitcoin Core. Log sources; [http://www.erisian.com.au/bitcoin-core-dev/ 1], [http://gnusha.org/bitcoin-core-dev/ 2]
|-
| {{Freenode IRC|bitcoin-gaming}} || Bitcoin gamers hangout.
|-
| {{Freenode IRC|bitcoin-gentoo}} || Gentoo community.
|-
| {{Freenode IRC|bitcoin-marketing}} || Marketing and promotion of bitcoin
|-
| {{Freenode IRC|bitcoin-news}} || RSS News related to Bitcoin.
|-
| {{Freenode IRC|bitcoin-politics}} || Discuss politics with other Bitcoin users.
|-
| {{Freenode IRC|#bitcoin-pricetalk|text=#bitcoin-pricetalk}} || ALL Discussion Remotely Related to Bitcoin Price or other offtopic goes here
|-
| {{Freenode IRC|bitcoin-watch|text=[[Bitcoin-Watch|#bitcoin-watch]]}} || Streaming Bitcoin transactions, including market data.
|-
| {{Freenode IRC|bitcoin-wiki}} || Bitcoin Wiki support
|-
| {{Freenode IRC|bitcoin-wizards}} || Bitcoin experts and futurists ([http://botbot.me/freenode/bitcoin-wizards history])
|-
| {{Freenode IRC|lightning-dev}} || Lightning protocol development
|-
| {{Freenode IRC|lnd}} || Lightning only version of #bitcoin-commits
|-
| {{Freenode IRC|sidechains-dev}} || Sidechains development
|}

===Local communities===

{| class="wikitable"
| {{Freenode IRC|bitcoin-otc-eu}} || European OTC trading marketplace.
|-
| {{Freenode IRC|bitcoin-otc-ru}} || Russian OTC trading marketplace.
|-
| {{Freenode IRC|bitcoin-otc-uk}} ||United kingdom OTC Trading Marketplace.Founder Angus Bates.
|-
| {{Freenode IRC|bitcoin-aus}} || Aussie bitcoin community.
|-
| {{Freenode IRC|AustinBitcoin}} || Austin, TX bitcoin community.
|-
| {{Freenode IRC|bitcoin-bra}} || Brazilian bitcoin community.
|-
| {{Freenode IRC|bitcoin-cad}} || Canadian bitcoin community.
|-
| {{Freenode IRC|bitcoin-cn}} || Chinese bitcoin community.
|-
| {{Freenode IRC|bitcoin-dk}} || Danish bitcoin community.
|-
| {{Freenode IRC|bitcoin-de}} || German bitcoin community.
|-
| {{Freenode IRC|bitcoin-eastcoastusa}} || East Coast USA bitcoin community.
|-
| {{Freenode IRC|bitcoin-il}} || Israeli bitcoin community.
|-
| {{Freenode IRC|bitcoin-nl}} || Dutch bitcoin community.
|-
| {{Freenode IRC|bitcoin-pl}} || Polish bitcoin community.
|-
| {{Freenode IRC|bitcoin-romania}} || Romanian bitcoin community.
|-
| {{Freenode IRC|bitcoin-ve}} || Venezuelan bitcoin community.
|-
| {{Freenode IRC|btc.chat}} || Russian bitcoin community.
|-
| #bitcoins.fi @ IRCNet || Finnish bitcoin community.
|-
| {{Freenode IRC|bitcoin-hr}} || Croatian language bitcoin community.

|}

==Mining Related Communities==

{| class="wikitable"
! Channel !! Description
|-
| {{Freenode IRC|avalon}} || Discussion and support specific to [[Avalon]] mining machine
|-
| {{Freenode IRC|bitcoin-mining}} || Discussion and support related to mining.
|-
| {{Freenode IRC|bitcoin-fpga}} || Discussion and support specific to FPGA mining.
|-
| {{Freenode IRC|btcguild}} || [[BTCGuild]] mining pool community
|-
| {{Freenode IRC|butterflylabs}} || [[Butterfly Labs]] chat
|-
| {{Freenode IRC|cgminer}} || Discussion and support specific to [[CGMiner]].
|-
| {{Freenode IRC|eligius}} || [[Eligius]] mining pool community (also support for [[BFGMiner]] and [[Eloipool]])
|-
| {{Freenode IRC|mining.bitcoin.cz}} || Slush's mining pool community
|-
| {{Freenode IRC|ozcoin}} || [[Ozco.in]] mining pool community
|-
| <small>[irc://irc.foonetic.net/xkcd-bitcoin IRC] [http://irc.lc/foonetic/xkcd-bitcoin/Miner@@@ Web]</small> #xkcd-bitcoin || [https://en.bitcoin.it/wiki/XKCD_Pool XKCD Pool]
|-
| <small>[irc://irc.quakenet.org/bitcoins.lc IRC] [http://irc.lc/quakenet/bitcoins.lc/Miner@@@ Web]</small> #bitcoins.lc @ Quakenet || [http://www.bitcoins.lc Bitcoins.lc Pool]
|-
| {{Freenode IRC|p2pool}} || [[P2Pool]] decentralized mining pool
|-
| {{Freenode IRC|bitminter}} || [[BitMinter]] Mining Pool Community
|-
| {{Freenode IRC|kncminer}} || [[KNCMiner]] ASIC Mining Hardware Vendor Discussion
|}

==Communities for Exchanges and Trading==

{| class="wikitable"
! Channel !! Description
|-
| {{Freenode IRC|bitcoin-assets}} || Discussion of securities and other asset investments. [http://bitcoin-assets.com bitcoin-assets.com].
|-
| {{Freenode IRC|bitcoin-assets-trades}} || Streaming assets market data (only), no chat.
|-
| {{Freenode IRC|bitcoin-auction}} || Live auctions over IRC.
|-
| {{Freenode IRC|bitcoin-market}} || Streaming market data (only), no chat.
|-
| {{Freenode IRC|bitcoin-otc|text=[[bitcoin-otc|#bitcoin-otc]]}} || Over-the-counter trading marketplace and discussion. ([http://bitcoinstats.com/irc/bitcoin-otc/logs/ history])
|-
| {{Freenode IRC|bitcoin-escrow}} || Third party escrow agents.
|-
| {{Freenode IRC|bitcoin-otc-ticker|bitcoin-otc-ticker}} || Streaming market data form the [[#bitcoin-otc]] order book.
|-
| {{Freenode IRC|bitcoin-otc-ratings|bitcoin-otc-ratings}} || Updates to ratings on the [[#bitcoin-otc]] Web of Trust.
|-
| {{Freenode IRC|bitcoin-pit}} || Only over-the-counter trading.
|-
| {{Freenode IRC|bitcoin-wot|bitcoin-wot}} || Distributed Web of Trust (WoT) system for [[#bitcoin-otc]].
|-
| {{Freenode IRC|btc.chat.traders}} || Russian community discussion about trades/exchanges.
|-
| {{Freenode IRC|coinbase}} || [[Coinbase]] chat
|-
| {{Freenode IRC|bitcoin-rt}} || Real-time tape (executed trades).
|-
| {{Freenode IRC|localbitcoins-chat}} || [[LocalBitcoins.com]] exchange support
|-
| {{Freenode IRC|Coinabul}} || [http://Coinabul.com Coinabul]'s customer support and news channel. Selling gold and silver for Bitcoin.
|}

==Related Communities==

{| class="wikitable"
! Channel !! Description
|-
| {{Freenode IRC|opentransactions}} || [[Open Transactions]] project.
|-
| {{Freenode IRC|namecoin}} || [[Namecoin]] and the [[Dot-bit]] project.
|-
| {{Freenode IRC|twister}} || [[Twister]], P2P microblogging discussion.
|-
| {{Freenode IRC|joinmarket}} || [[JoinMarket]], A [[CoinJoin]] implementation
|-
| {{Freenode IRC|darkwallet}} || [[DarkWallet]] and libbitcoin/Obelisk discussion & development channel.
|-
| {{Freenode IRC|electrum}} || [[Electrum]], lightweight bitcoin client.
|-
| {{Freenode IRC|copay}} || [[Copay]], lightweight bitcoin client.
|-
| {{Freenode IRC|bitcoin-stackexchange}} || Discussion complementing [http://bitcoin.stackexchange.com Bitcoin StackExchange].

|}

==See Also==

* [[Bitcoin_Wiki:Community_portal]]

[[fr:Canaux IRC]]
[[pl:Kanały IRC]]
[[ro:Canale]]

Category:Block chain browsers

2018-10-16T18:24:03Z

MeshCollider: Reverted edits by Apirone.com (talk) to last revision by Alejandrobitcoin

A [[block chain browser]] is an application, typically web-based, that allow users to search and navigate a [[block chain]].

== List of online block chain browsers ==
* [https://bitaps.com Bitaps.com]
* [https://bitinfocharts.com/bitcoin/explorer/ BitInfoCharts]
* [https://blockexplorer.com/ Bitcoin Block Explorer]
* [https://bitcoinchain.com/block_explorer/ BitcoinChain]
* [https://btc.blockchainhub.co.jp BlockhainHub]
* [https://www.biteasy.com/blockchain/blocks bitEasy]
* [https://blockchain.info/ Blockchain.info]
* [https://live.blockcypher.com/ BlockCypher]
* [https://www.blockonomics.co/ Blockonomics]
* [https://btc.blockr.io/ blockr]
* [https://www.blocktrail.com/BTC BlockTrail]
* [https://chain.btc.com/ BTC Chain]
* [http://chainflyer.bitflyer.jp/ chainFlyer]
* [http://coinbelly.io/ Coinbelly]
* [https://explorer.coinpayments.net/ CoinPayments]
* [https://www.coinprism.info/ Coinprism]
* [http://learnmeabitcoin.com/explorer/ learnmeabitcoin]
* [https://chain.localbitcoins.com/ LocalBitcoins]
* [https://smartbit.com.au Smartbit]
* [https://chain.so/btc SoChain]
* [https://tradeblock.com/blockchain/ TradeBlock]
* [https://www.walletexplorer.com/ WalletExplorer]
* [http://webbtc.com/ webBTC]
* [https://chaindex.com/blockchain/ chaindex]
* [https://BTC.com BTC.com]

== List of online block chain browsers (testnet3) ==
* [https://tbtc.blockr.io/ blockr]
* [https://tchain.btc.com/ BTC Chain]
* [https://sandbox.smartbit.com.au/ Smartbit]

Mixing service

2018-08-01T06:52:07Z

MeshCollider: Reverted edits by NellieMarshal29 (talk) to last revision by Belcher

Using bitcoins is an excellent way to stay anonymous while making your purchases, donations, and p2p payments, without losing money through inflated transaction fees. But Bitcoin transactions are never truly anonymous. Bitcoin activities are recorded and available publicly via the blockchain — a comprehensive database which keeps a record of bitcoin transactions. And when you finally use Bitcoin to pay for goods and services, you will of course need to provide your name and address to the seller for delivery purposes. It means that a third party can trace your transactions and find ID information. To avoid this, such mixing service provide the ability to exchange your bitcoins for different ones which cannot be associated with the original owner.

Prior to the advent of trustless alternatives, '''mixing services''' (also called '''tumblers''') were used to mix one's funds with other people's money, intending to confuse the trail back to the funds' original source. In traditional financial systems, the equivalent would be moving funds through [[Wikipedia:Offshore bank|banks located in countries with strict bank-secrecy laws]], such as the Cayman Islands, the Bahamas and Panama.

When mixing bitcoins, you send your money to an anonymous service and, if they are well-intentioned, they will send you someone else's tainted coins. So, now, whatever those coins were used for may now be traceable back to you. Additionally, mixing large amounts of money may be illegal, being in violation of [[Wikipedia:Structuring|anti-structuring laws]].

==See Also==

* [[Anonymity]]
* [[:Category:Mixing Services]]
* [http://www.bitcoin.org/smf/index.php?topic=2893.0 RFC: Bitcoin Mixnet]

{{wp|Cryptocurrency_tumbler}}

[[Category:Financial]]
[[Category:Anonymity]]

Majority attack

2018-07-26T07:18:19Z

MeshCollider: Reverted edits by Mala44 (talk) to last revision by Fresheneesz

A '''majority attack''' (usually labeled '''51% attack''' or '''>50% attack''') is an attack on the network. This attack has a chance to work even if the merchant waits for some confirmations, but requires extremely high relative hashrate.

The attacker submits to the merchant/network a transaction which pays the merchant, while privately mining a blockchain fork in which a [[double-spending|double-spending transaction]] is included instead. After waiting for ''n'' confirmations, the merchant sends the product. If the attacker happened to find more than ''n'' blocks at this point, he releases his fork and regains his coins; otherwise, he can try to continue extending his fork with the hope of being able to catch up with the network. If he never manages to do this, the attack fails, the payment to the merchant will go through, and the work done mining will also go to waste, as any new bitcoins would be overwritten by the longest chain.

The probability of success is a function of the attacker's hashrate (as a proportion of the total network hashrate) and the number of confirmations the merchant waits for. For example, if the attacker controls 10% of the network hashrate but the merchant waits for 6 confirmations, the success probability is on the order of 0.1%. If the attacker controls more than half of the network hashrate, this has a probability of 100% to succeed. Since the attacker can generate blocks faster than the rest of the network, he can simply persevere with his private fork until it becomes longer than the branch built by the honest network, from whatever disadvantage.

No amount of confirmations can prevent this attack; however, waiting for confirmations does increase the aggregate resource cost of performing the attack, which could make it unprofitable or delay it long enough for the circumstances to change or slower-acting synchronization methods to kick in. A majority attack was more feasible in the past when most transactions were worth significantly more than the block reward and when the network hashrate was much lower and prone to reorganization with the advent of new mining technologies.

A majority attack has never been successfully executed on the Bitcoin network, but it has been demonstrated to work on some small altcoins.

See also: [[Weaknesses#Attacker_has_a_lot_of_computing_power]]

==See Also==

* [https://people.xiph.org/~greg/attack_success.html Attack success probability calculator]
* [[Irreversible_Transactions]]

[[Category:Technical]]
[[Category:Attack vectors]]

Buying Bitcoins (the newbie version)

2018-06-15T03:52:43Z

MeshCollider: Add australian bitcoin ATM locator

This page aims to be the best resource for new users to understand how to buy Bitcoins. The existing [[Buying bitcoins]] page is too complex.

Read [https://en.bitcoin.it/wiki/How_To_Buy_Bitcoins_With_Your_Credit_Card How To Buy Bitcoins With Your Credit Card], for information about buying Bitcoins with a credit card.

{{Counterparty-warning}}

===PayPal===

[http://bitcoin.stackexchange.com/questions/2293/how-can-i-buy-bitcoin-via-a-credit-card-or-paypal You can't directly buy Bitcoins using PayPal], because it is risky for the seller, and therefore few sellers will offer this. There are basically 3 reasons for that:

* The buyer of bitcoins can always perform a chargeback and there is no way for the seller to contest that

* There are many hacked accounts and when PayPal realizes that such an account has been fraudulently used, they will also perform a chargeback

* PayPal doesn't like bitcoin, as the bitcoin network is in direct competition to it. They will ban accounts that have anything to do with Bitcoins, and freeze their balance.

Having said that there is a [http://99bitcoins.com/buying-bitcoins-with-paypal-a-practical-guide/ workaround] that can be done in order to use Paypal to buy Bitcoins but it holds within it higher transaction fees. Using the [http://VirrWox.com Virtual World Exchange] you can buy Second Life Lindens (SLL) with Paypal and then convert your SLL to Bitcoins. This process will charge you transaction fees of around 6% but will let you purchase Bitcoins pretty quickly as opposed to a wire transfer. The reason this method works is because you do not buy Bitcoins with Paypal directly, you only buy SLL with Paypal (which is acceptable by Paypal's TOS) and then exchange your SLL to Bitcoin.

'''Note''': If you only want to take advantage of Bitcoin's price volatility You can trade CFDs on Bitcoin via Paypal on sites like [http://www.avatrade.com/lp/bitcoin-trading AvaTrade] or [http://99bitcoins.com/plus500 Plus500]. When trading online your capital may be at risk. Trading CFDs is suitable for more experienced traders.

===Credit Card===

[https://cubits.com Cubits] - Cubits is an all-inclusive platform to buy, sell and accept Bitcoin. Our easy-to-use interface allows users to buy and sell Bitcoin instantly with 17 supported currencies. Visa and Mastercard accepted.

[https://www.virwox.com VirWox] - The Virtual World Exchange accepts all major credit cards (via Paypal or Skrill) and allows you to buy SLL which you can then trade to Bitcoin. Using [http://99bitcoins.com/how-to-buy-bitcoin-with-a-credit-card/ this method] is faster then most options but has larger transaction fees involved.

[http://coin-mama.com/ CoinMama] uses Western Union to allow you to purchase Bitcoins through your credit card. This service is not available in the US.

===Bank Transfer ===

'''US Only!!''' [https://coinbase.com/ Coinbase] allows you to buy and sell bitcoin instantly by connecting any U.S. based bank account. You need an account number and routing number, which can be found on a check. A credit card can be optionally linked to your account as well. Coinbase also acts as a bitcoin wallet which can store the bitcoin once it is purchased. Ideal for beginners first getting involved in bitcoin.

[[File:20px-expresscoin.png|20px|link=http://www.expresscoin.com]] [http://www.expresscoin.com expresscoin.com] ([https://en.bitcoin.it/wiki/Expresscoin info)] allows customers to buy Bitcoin with a bank wire transfer. Specific instructions of all payment methods are referenced in the [http://www.expresscoin.com/how How To Buy] page.

[https://bittylicious.com Bittylicious] allows customers to purchase Bitcoins using an extremely simple interface. All customers need to do is to enter their Bitcoin address and email address and choose how many coins they want. If customers want to purchase more than the default (usually around £50/EUR 55/$80) then they just need to sign up and do some sort of verification. UK bank transfers, Euroean SEPAs, iDEAL and Mister Cash are all accepted.

[https://kraken.com Kraken] allows verified users to buy and sell bitcoin using USD and EUR by depositing via wire transfer. Other national currencies can be converted to USD or EUR at transfer. Kraken is an exchange and the market is determined by orders.

[[File:BitQuickco.png|20px|link=https://www.bitquick.co]] [https://www.bitquick.co BitQuick.co] ([https://en.bitcoin.it/wiki/BitQuick.co info)] allows sellers to connect to buyers via cash deposit or SEPA transfer. You can buy bitcoin instantly by providing only your email address and bitcoin address. As soon as the deposit is received, the bitcoin are sent.

[[File:favicon_b4c.jpg|20px|link=https://bit4coin.net]] [https://bit4coin.net bit4coin.net] ([[bit4coin|info]]) Buy bitcoins with bit4coin gift vouchers. Easy to use online shop experience, and the vouchers will be delivered to your doorstep. [https://bit4coin.net bit4coin.net] guides you through the entire process of redeeming the voucher and getting your first bitcoins - and the voucher doubles up as a great gift, too!

[http://www.belgacoin.com Belgacoin] allows you to buy bitcoins via SEPA transfer. It is fast, secure and cheap. No registration needed. We do not charge anything for this service, for the time being.

[https://bitalo.com Bitalo] enables you to buy Bitcoins directly from another person. If that person is online and you share the same bank, you can get your Bitcoins in a matter of minutes. The transaction is secured by Bitcoin multi-signature addresses, and Bitalo acts as an escrow. You can store bought Bitcoins on your own address, or using a safe multi-signature Bitcoin wallet on Bitalo, for free.

[[File:ANXIcon.png|20px|link=https://www.anxpro.com]] [https://www.anxpro.com Asia Nexgen (ANX)] ([https://en.bitcoin.it/wiki/Asia_Nexgen_Bitcoin_Exchange info)] allow their customers to buy Bitcoin by sending a wire transfer. They are legally registered and based in Hong Kong and hold a Money Services Operator license issued by the Hong Kong Customs and Excise Department. They support most popular cryto-currencies and all major fiat currencies (including USD, EUR, HKD, AUD, CAD, CHF, GBP, JPY, NZD and SGD). They are currently running a zero transaction fee promotion.

'''UK Only!!''' [http://www.bitcoinmagnet.co.uk/ http://www.bitcoinmagnet.co.uk/] allows customers to buy & sell Bitcoin automatically using their UK bank account. All you need to provide is an email address and either your bitcoin wallet address (if buying) or your bank account details (if selling). For buying, they give you a unique reference code to include with your bank transfer. All future transfers that include this code will be automatically converted to Bitcoin and sent to you. You can therefore set up a regular standing order if desired. For selling, they give you a unique Bitcoin deposit address to send coins to. All future payments to this address will be automatically converted to GBP and sent to your UK bank account. They use the latest Bitstamp market price and aim to complete orders within 10 minutes. The fee is currently 5%.

===Cash===
[http://localbitcoins.com Local Bitcoins] allows sellers and buyers who are located nearby to meet and exchange Bitcoins through various methods including cash, wire transfer, Money Bookers, Skrill and more. Local Bitcoins offers a [https://en.bitcoin.it/wiki/Bitcoin_Escrow_Service Bitcoin escrow] service that holds the funds until the transaction is complete, therefore reducing fraud.

[[File:BitQuickco.png|20px|link=https://www.bitquick.co]] [https://www.bitquick.co BitQuick.co] ([https://en.bitcoin.it/wiki/BitQuick.co info)] allows sellers to connect to buyers via cash deposit or SEPA transfer. You can buy bitcoin instantly by providing only your email address and bitcoin address. As soon as the deposit is received, the bitcoin are sent.

[[File:ANXIcon.png|20px|link=https://www.anxpro.com]] [https://www.anxpro.com Asia Nexgen (ANX)] ([https://en.bitcoin.it/wiki/Asia_Nexgen_Bitcoin_Exchange info)] allow their customers to buy Bitcoin by depositing directly into their Australian bank account. They are legally registered and based in Hong Kong and hold a Money Services Operator license issued by the Hong Kong Customs and Excise Department. They support most popular cryto-currencies and all major fiat currencies (including USD, EUR, HKD, AUD, CAD, CHF, GBP, JPY, NZD and SGD). They are currently running a zero transaction fee promotion.

The company prepared to open Hong Kong's first physical bitcoin shop, in Sai Ying Pun in February 2014. Customers, who must supply an identity card and proof of address for anti-money laundering regulatory compliance, will be able to purchase bitcoins for cash.

The company brought the first Bitcoin ATM to Hong Kong. Customers must be verified to use this ATM and will need to use their Bitcoin wallet QR code to make a cash deposit.

[[File:BXlogoSM.jpeg|link=http://bitXoin.com]] [http://bitXoin.com bitXoin] ([[bitXoin|info]]) Buy bitcoin via online ordering and bank deposit, cash over the counter at most banks throughout Australia. Fast processing, low reference rate, low commissions.

[https://www.getbitcoin.com.au Bitcoin (Australia)] - pay by cash over the counter at local bank branches.

[[File:20px-expresscoin.png|20px|link=http://www.expresscoin.com]] [http://www.expresscoin.com expresscoin.com] ([https://en.bitcoin.it/wiki/Expresscoin info)] allows customers to pay with cash at Credit Unions that support shared branching.

=== Personal Checks ===

[[File:20px-expresscoin.png|20px|link=http://www.expresscoin.com]] [http://www.expresscoin.com expresscoin.com] ([https://en.bitcoin.it/wiki/Expresscoin info)] allows customers to buy Bitcoin with a personal check. Create a purchase request and mail in a personal check to the listed address and match amount. Specific instructions of all payment methods are referenced in the [http://www.expresscoin.com/how How To Buy] page.

===Gift Card (US)===
[https://giftcarddrainer.com GiftCardDrainer.com] allows you to buy bitcoin with Visa, MasterCard, American Express or Discover gift cards. Uses the exchange rate provided by coinbase.com at the time that the customer's gift card is processed within 24 hours of card submission. Most cards are processed within a few hours of submission, however it can take up to 24 hours. Customer must provide a bank account number for identity verification.

=== Money Orders ===

[[File:20px-expresscoin.png|20px|link=http://www.expresscoin.com]] [http://www.expresscoin.com expresscoin.com] ([https://en.bitcoin.it/wiki/Expresscoin info)] allows customers to buy Bitcoin with a personal check. Create a purchase request and mail in a USPS Money Order to the listed address and match amount. Specific instructions of all payment methods are referenced in the [http://www.expresscoin.com/how How To Buy] page.

===Via IDeal (NL)===
[https://bitonic.nl Bitonic] allows you to buy bitcoins with IDEAL.

[http://www.happycoins.nl HappyCoins] allows you to buy Bitcoins with iDEAL and SEPA bank transfer.

[https://btcdirect.nl BTCDirect] allows you to buy and sell bitcoins with iDEAL.

[https://clevercoin.com CleverCoin] allows you to buy and sell bitcoins directly on an exchange with iDEAL and SEPA bank transfer.

[https://josien.net Josien] allows you to buy bitcoins and litecoins with iDEAL and SEPA bank transfer.

===Via MoneyGram===

You can buy Bitcoins with a Western Union or MoneyGram money transfer via [http://www.coinmama.com/ coinmama.com].

===Finding a direct seller online===

If you can find another person that is willing to sell them to you, you can transfer him money via any payment method (including PayPal), and he'll send you the Bitcoins. The following websites can be used to find direct sellers online [[Bitcoin OTC]], [http://localbitcoins.com Local Bitcoins] or the [https://bitcointalk.org/index.php?board=53.0 Currency Exchange Forum Section]. Be extremely cautious of scammers when dealing over the counter. Ask an admin, moderator or a trusted person if you think someone is suspicious.

===Physical Trading===
You might be able to find an individual with whom you can [https://localbitcoins.com Buy bitcoins locally].
Always choose somebody with many reviews.

Starting in October of 2013, physical Bitcoin ATMs have been installed in Canada, Finland, Slovakia, Australia, Germany, and the UK. Use a [http://bitcoinatmexplorer.com/ Bitcoin ATM Locator] to find a machine near you. An ATM locator specific to Australia can also be found [https://www.findbitcoinatm.com.au here].

===Price Comparison===
[http://bittybot.co.uk BittyBot] - allows users to compare different bitcoin sellers and prices in UK.

===Anonymity===
There is a huge demand for buying Bitcoins off the grid due to ever-increasing government regulations and private agency intrusions and discrimination against alternative currencies.
Due to the possibility of facial recognition cameras at banks and the paper trail involved with credit cards, there are very few options to have high levels of anonymity when buying Bitcoins those ways. DNA, Fingerprints, phone and internet records, audio and video records will not be discussed, but they all are possible tools which attackers could use to uncloak even the stealthiest Bitcoin buyer.
There are a couple known ways, depending on your location, to buy Bitcoins outside of the standard banking system with relatively high anonymity.
Buying locally with cash using a burner or payphone allows a high level of anonymity with the exchange being the weakest link.
Many sellers online will also trade Bitcoins for [[MoneyPak]] codes or other cash-like gift codes which can be bought at a local store with cash.
Another way to buy Bitcoins with a high level of anonymity is by sending cash in the mail.

===Exchanges===

For a list of other major exchanges, see [[Buying bitcoins#Market Exchanges|Market Exchanges]]

==Avoiding Scams==
Before using any service, it is a good idea to look for reviews and feedback from previous customers. This can be done by performing a Google search of the name of the website or company. The [https://bitcointalk.org Bitcoin forum] is also a good place to find discussions and reviews about services.

==Links==
* [[Buying bitcoins]]
* [https://www.weusecoins.com/en/how-buy-bitcoins-online-best-bitcoin-exchange-rate-bitcoin-price/ How-To Buy guide from WeUseCoins.com]
* [http://howtobuybitcoins.info/ HowToBuyBitcoins.info]
* http://bitcoin.stackexchange.com/questions/91/how-do-you-obtain-bitcoins
* http://bitcoin.stackexchange.com/questions/4194/whats-the-best-way-to-buy-bitcoin-noob-friendly
* https://en.bitcoin.it/wiki/How_To_Buy_Bitcoins_With_Your_Credit_Card

[[Category:Introduction]]
{{p-full}}

Software

2018-04-17T22:26:09Z

MeshCollider: Reverted edits by LauraPinne (talk) to last revision by Sabiqahamed

List of Bitcoin-related '''software'''. See also [[:Category:Software|Category:Software]].

Be sure to keep on top of the latest [[CVEs|security vulnerabilities]]!

==Bitcoin clients==
===Bitcoin clients===
::''Main article and feature comparison: [[Clients]]''
*[[Bitcoin Core]] - C++/Qt based tabbed UI. Linux/MacOSX/Windows. Full-featured [[Thin Client Security|thick client]] that downloads the entire [[block chain]], using code from the original Bitcoin client.
*[[bitcoind]] - GUI-less version of the original Bitcoin client, providing a [[API reference (JSON-RPC)|JSON-RPC]] interface
*[[MultiBit]] - lightweight [[Thin Client Security|thin client]] for Windows, MacOS and Linux with support for opening multiple wallets simultaneously
*[[Electrum]] - a "blazing fast, open-source, multi-OS Bitcoin client/wallet with a very active community" - also a [[Thin Client Security|thin client]].
*[https://bither.net/ Bither] - open source wallet for Android, iPhone and Desktop with cold storage support.
*[[Bitcoin-js-remote]] - JavaScript RPC client, support for QR codes
*[https://github.com/TheSeven/Bitcoin-WebUI Bitcoin WebUI] - JavaScript RPC client
*[https://github.com/zamgo/bitcoin-webskin Bitcoin Webskin] - PHP web interface to bitcoind
*[[Bitcoin_Explorer|Bitcoin Explorer]] - Bitcoin command line tools for Linux, OSX and Windows, part of [[Libbitcoin]] SDK.
*[[Bitcoiner]] - Java RPC client (Android)
*[[Armory]] - Enterprise grade Python-based client
*[[Spesmilo]] - Python/PySide RPC client (abandoned)
*[[Gocoin bitcoin software|Gocoin]] - WebUI client written in Go language, with a cold deterministic brain-wallet.
*[https://github.com/conformal/btcd btcd] An alternative full node bitcoin implementation written in Go (golang).
*[http://www.blockcypher.com BlockCypher] Full node bitcoin client built for scale and data centers, exposed through web APIs.
*[[Mycelium]] Awarded the prestigious "Best Mobile App" award by Blockchain.info in 2014, the Mycelium wallet for Android provides several security features.

====Frontends to eWallet====
*[https://blockchain.info/wallet Blockchain] - Javascript bitcoin client with client side encryption.
*[https://en.bitcoin.it/wiki/Xcoinmoney xCoinMoney] Advanced API to create invoices for subscription.
*[https://cancoin.co/wallet Cancoin] - HSM multi-sig wallet using libbitcoin. Client side encryption.
====Experimental====
*[[Freecoin]] - C++ client, supports alternative currencies like [https://bitcointalk.org/index.php?topic=9493.0 Beertoken]
*[[BitDroid]] - Java client
*[[Bitdollar]] - C++/Qt client, unstable beta version

==Bitcoin software==

===Live operating systems===

A [https://en.wikipedia.org/wiki/Live_USB live operating system] can start on almost any computer from a DVD, USB stick, or SD card, without installation.

* [[BitKey]] - Live OS Bitcoin Swiss Army Knife, supports cold storage and air-gapped transactions
* [https://tails.boum.org/ Tails] Privacy oriented Live OS, bundled with Tor and Electrum.

===Exchange Platform Software===
*[https://www.alphapoint.com/ Alphapoint] - Bitcoin Exchange Software. Full system to run a digital currency exchange. Customize and launch your own digital currency and Bitcoin exchange in less than 20 days with AlphaPoint. Also supports automatic market-making on your exchange using 3rd party exchanges such as Bitfinex, BTCChina, and others. Supports many exchanges and smart routing, with automated account management.
*[http://www.merkeleon.at/ex%D1%81hange/ Merkeleon] - Bitcoin Exchange Software. A fully online software solution to launch a secure and reliable platform for crypto- and main world fiat currencies sale and purchase. Supports any currency integration, provides wide monetization opportunity for the owner.
*[http://www.exknox.com/ InfraEx Development] - Open Source Exchange Software Development Team. Custom solutions built upon the world's most trusted exchange codebase Peatio.
*[https://www.sellbitbuy.net/ Sellbitbuy] - Ready made Bitcoin Exchange script and source code with white label solution to launch a secure exchange and trading platform.

===Shopping Cart Integration in eCommerce-Systems===
*[[GoCoin]] - Plugin for WooCommerce support and coming soon Magento
*[[Zen Cart Bitcoin Payment Module]] - a payment module that interacts with bitcoind for the Zen Cart eCommerce shopping chart.
*[https://coinbase.com/docs/merchant_tools/shopping_cart_plugins Coinbase Shopping Cart Plugins] - Supports Wordpress, WooCommerce, Magento, Zencart, WP e-commerce, and more.
*[[Karsha Shopping Cart Interface]] - is a mobile payment-interface which enables its users to accept payments.
*[[Bitcoin-Cash]] - an easy to use payment module for xt:Commerce
*[[BitPay]] - bitcoin plugins for Magento, Opencart, Zencart, PHP, JSON API
*[[WalletBit]] - Plugins for PrestaShop, OpenCart, PHP, JSON API
* [https://www.xcoinmoney.com/info/api-general-info xCoinMoney] Advanced API for instant payment and subscriptions
*[[OpenCart Bitcoin]] - An OpenCart payment module that communicates with a bitcoin client using JSON RPC.
* [[File:MCS_200by200_logo-01.png|20px|link=http://www.mycoinsolution.com]][http://www.mycoinsolution.com My Coin Solution] - Bitcoin consulting services and solutions; custom payment integrations
*[[OsCommerce_Bitcoin_Payment_Module|OsCommerce Bitcoin Payment Module]] - a payment module that uses a python monitoring script to interact with bitcoind for OsCommerce
* [http://drupal.org/project/uc_bitcoin Drupal Ubercart Bitcoin payment method] enables you to accept Bitcoin as payment for your Drupal/Ubercart enabled website product/services.

=== Enterprise server ===
*[https://apicoin.io Apicoin] First bitcoin PaaS (Platform as a Service)
*[http://bitsofproof.com Bits of Proof] - a modular enterprise-ready implementation of the Bitcoin protocol.
*[http://www.blockcypher.com BlockCypher] Full node bitcoin client built for scale and data center environments.

===Web apps===
*[[Cryptopay]] — hosted wallet, exchange and bitcoin debit card provider
*[[Abe]] — block chain viewer
*[[Bitcoin Central]] — currency exchange
*[[Bitcoin Poker Room]] — poker site
*[[bitcoin_simple_php_tools]] — simple php tools for webmasters
*[[Blockonomics]] - Easy to use bitcoin financial tracker
*[[Blocktrail]] - Web wallet with high level security. Syncs seamlessly with your iphone and android Blocktrail wallet.
*[https://en.bitcoin.it/wiki/Coinbase_(business) Coinbase] — an international digital wallet that allows you to securely buy, use, and accept bitcoin currency
*[[Coinnext]] — Cryptocurrency Exchange
*[http://www.coinsummary.com/ CoinSummary] — multi-coin wallet manager with built-in valuation in Bitcoin and major world currencies.
* [[File:Paxful_how-to-buy-bitcoin.png |20px|link=https://paxful.com]] [https://paxful.com Paxful] Accept Bitcoin and Sell bitcoin on Peer to peer market.
*[[Pocket Dice]] — First realistic bitcoin dice game.
*[[Simplecoin]] — PHP web frontend for a pool
*[[Coinbase Exchange]] - Bitcoin exchange with complete API for traders.
*[https://cancoin.co/wallet Cancoin] - HSM Multi-sig wallet and p2p exchange* *coming soon

===White label software===
*[https://www.alphapoint.com/ Alphapoint] - Bitcoin Exchange Software. Full system to run a digital currency exchange. Customize and launch your own digital currency and Bitcoin exchange in less than 20 days with AlphaPoint. Also supports automatic market-making on your exchange using 3rd party exchanges such as Bitstamp and others. Supports many exchanges and smart routing, with automated account management.

*[https://www.draglet.com/ draglet] - Bitcoin Exchange Software / white label solution

*[https://www.casinoevolution.com/ '''Casino Evolution'''] gaming software developed by '''www.SoftSwiss.com'''

===Browser extensions===
*[[Bitcoin Extension]] - check balance and send bitcoins (Chrome)
*[[Bitcoin Prices (extension)]] - monitoring price (Firefox)
*[[Bitcoin Ticker]] - monitoring price (Chrome)
*[[Biticker]] - Bitcoin ticker, currency converter and history price graph (Chrome)
*[https://chrome.google.com/webstore/detail/bitcoin-microformats/bkanicejfbhlidgjkpenmddnacjengld?hl=en Bitcoin Microformats] Show bitcoin address metadata embedded in a page (Chrome)
*[https://chrome.google.com/webstore/detail/bitcoin-address-lookup/pmlblkdmadbidammhjiponepngbfcpge?hl=en Bitcoin Address Lookup] Right click an address to view its value. (Chrome)

===PC apps===
*[https://centrabit.com/?m0prm=6 Qt Bitcoin Trader] - Open Source Multi exchange trading client for Windows, Mac OS X and Linux
*[http://www.mybtc-trader.com MyBTC-Trader.com] - a MtGox Bitcoin trading client for windows with GUI
*[[Mining Explorer]] - monitoring tool for bitcoin mining
*[[Bitcoin SMS Alert]] - sends SMS text alerts to a user's phone based on BTC price / percent thresholds.
*[[BTConvert]] - currency conversion
*[[Sierra Chart MtGox Bridge]] - real-time charting
*[[BitTicker]] - monitoring price (Mac OS X)
*[[ToyTrader]] - a command line trading tool for [[MtGox]]
*[[goxsh]] - a command-line frontend to the [[MtGox|Mt. Gox Bitcoin Exchange]] (Python)
*[[MyBitcoins gadget]] - monitoring pool earnings / price (Windows gadget)
*[[Bitcoin QR Popup]] - streamlined interface to bitcoin for POS systems (Windows)
*[http://gnome-help.org/content/show.php/Bitcoin+Rate?content=138572 Bitcoin Rate] - Desktop widget with BTC exchange rate (KDE)
*[http://kde-apps.org/content/show.php?content=142344 Bitcoin Monitor] - Desktop widget to monitor status of your Bitcoin miners on mining pools (KDE)
*[https://www.cortex7.net Cortex7] - Multi exchange charting and trading application for Windows, Mac and Linux.
*[[Bitcoin_Explorer|Bitcoin Explorer]] - A command line client and tools for Windows, Mac and Linux. Single file binary download. Part of [[Libbitcoin]] SDK.
*[[Bitcoin_Server|Bitcoin Server]] - A full node for Windows, Mac and Linux. Single file binary download. Part of [[Libbitcoin]] SDK.

===Mobile apps===
==== iPhone / iPad ====
*[https://airbitz.co/bitcoin-wallet Airbitz Bitcoin Wallet] - Full featured iPhone bitcoin wallet & directory map (finds businesses that accept bitcoin near you). Airbitz wallet also automatically implements encryption, backup, and multidevice synchronization.
*[https://blockchain.info/wallet/iphone-app Blockchain] - Fully featured iphone bitcoin app.
*[https://blocktrail.com/ Blocktrail] - A powerful iphone bitcoin wallet, keeps you in control of your bitcoin. Highly secure. Syncs with the web wallet and android app seamlessly.
*[[Bitcoin Ticker (iPhone)]] - monitoring price w/push notifications
*[[BitCoins Mobile]] - First iPad native app! Live market data, news feeds, mining pool statistics, full screen exchange price charts, bitcoin network statistical charts. (iPad only, iPhone/iPod Touch coming soon!)
*[https://github.com/teeman/BitcoinTrader BitcoinTrader] - Spend/receive BTC via QR codes, trade, deposit/withdraw, etc. Supports Mt. Gox, TradeHill, ExchB, CampBX, and InstaWallet.
*[[Bit-pay]] - Mobile Checkout, set prices in any currency and receive mobile-to-mobile payment
*[http://blog.coinbase.com/post/64824441934/the-coinbase-ios-app-has-launched Coinbase iPhone App]
*[[Easywallet.org]] - Web based wallet, works with QR Code scanner on iPhone/iPad/iPod touch
*[https://itunes.apple.com/us/app/btc-miner/id648411895?ls=1&mt=8 BTC Miner (iPhone)] - monitor mining results from various mining pools on iPhone/iPad/iPod touch
*[[BitStore]] - Simple and secure native iOS wallet
*[[BitTick]] - Real-time Bitcoin ticker. Real-time currency convert(support 50+ currency. USD, GBP, EUR, CNY, JPY, CAD, RUB, AUD, BRL, NZD, PLN, KRW…)
*[https://itunes.apple.com/us/app/twizbits-bitcoin-price-ticker/id1041790847?mt=8- Twizbits Bitcoin price ticker] - Real-time Bitcoin price ticker for Coinbase Exchange (support USD, GBP, EUR, CAD)

==== Android ====
* Direct link to Android Market bitcoin apps. https://play.google.com/store/search?q=bitcoin
*[https://play.google.com/store/apps/details?id=net.bither Bither] - open source Android wallet with support for offline cold storage.
*[[Mycelium]] - Leading SPV Android wallet with many advanced features.
*[https://airbitz.co/bitcoin-wallet Airbitz Bitcoin Wallet] - Full featured Android bitcoin wallet & directory map (finds businesses that accept bitcoin near you). Airbitz wallet also automatically implements encryption, backup, and multidevice synchronization.
*[[Bitcoin Alert]] - monitoring price (Android)
*[https://play.google.com/store/apps/details?id=com.mobnetic.coinguardian&hl=pl Bitcoin Checker] - Monitors the prices of cryptocurrencies on over 70 exchanges
*[[Bitcoin Wallet Balance]] - view your balance in real time on your android phone
*[[Bitcoin Wallet]] - Functional Android bitcoin wallet application.
*[[BitPay]] - https://market.android.com/details?id=com.bitcoin.bitpay (Is not related to the bit-pay.com online payment processor.)
*[https://play.google.com/store/apps/details?id=st.brothas.mtgoxwidget&hl=pl Bitcoin Ticker Widget] - displays and monitors the current BTC and LTC exchange rates.
*[[Bridgewalker]] - euro-denominated wallet for the Bitcoin economy
*[https://blockchain.info/wallet/android-app Blockchain] - Lightweight Android Bitcoin Client - Also works with blockchain.info web interface and iphone app.
*[https://blocktrail.com/ Blocktrail] - A powerful android bitcoin wallet, keeps you in control of your bitcoin. Highly secure. Syncs with the web wallet and iphone app seamlessly.
*[https://play.google.com/store/apps/details?id=com.coinbase.android&hl=en Coinbase Wallet] - supports buying, selling, sending, requesting, and more.
*[https://play.google.com/store/apps/details?id=com.coinbase.android.merchant&hl=en Coinbase Merchant] - makes it easy to accept bitcoin at a retail location
*[http://coincliff.com CoinCliff] - Monitors price and fires alarms to wake you up, or notifications, as in text messages (Android)
*[http://coinomi.com/ Coinomi] - Coinomi is a very secure and lightweight, universal, open-source HD wallet for Bitcoin and many altcoins. ([https://play.google.com/store/apps/details?id=com.coinomi.wallet Android])
*[https://www.cortex7.net Cortex7] - Multi exchange charting and trading application for Android.
*[[Easywallet.org]] - Web based wallet, works with QR Code scanner on Android devices
*[[Miner Status]] - monitoring miner status (Android)
*[[SMS Bitcoins]] - transactions by SMS
*[http://tab-trader.com/ TabTrader] - monitoring and trading(Android)

==== Windows Phone 7 ====
*Direct link to Windows Phone Marketplace Bitcoin apps: [http://www.windowsphone.com/en-us/store/search?q=bitcoin]

==== Windows Phone 8 ====
*[[Bitcoin Can]] - Monitoring prices, account balances and mobile trading on multiple exchanges including Coinbase, BTC-E, CampBX, and MtGox. http://www.windowsphone.com/en-us/store/app/bitcoin-can/57fcf4d6-497a-4663-8da3-93cb26c83b11

see also [[Bitcoin Payment Apps]]

===Mining apps===
Main page: [[Mining software]]

*[[BFGMiner]] - Modular ASIC/FPGA/GPU miner in C
*[http://www.groupfabric.com/bitcoin-miner/ Bitcoin Miner by GroupFabric] - Free easy-to-use DirectX GPU miner on the Windows Store
*[[CGMiner]] - ASIC/FPGA/GPU miner in C
*[http://fabulouspanda.co.uk/macminer/ MacMiner] - A native Mac OS X Bitcoin miner based on cgminer, bfgminer, cpuminer and poclbm
*[[Asteroid]] - Mac-specific GUI based on cgminer
*[[MultiMiner]] - GUI based on cgminer/bfgminer for Windows, OS X and Linux, allows switching between currencies based on profitability

===Mining Pool Servers (backend)===
Main page: [[Poolservers]]

*[[CoiniumServ]] - High performance C# Mono/.Net poolserver.
*[[ecoinpool]] - Erlang poolserver (not maintained)
*[[Eloipool]] - Fast Python3 poolserver
*[[Pushpoold]] - Old mining poolserver in C (not maintained)
*[[Poold]] - Old Python mining poolserver (not maintained)
*[[PoolServerJ]] - Java mining poolserver (not maintained)
*[[Remote miner]] - mining pool software
*[[ckpool]] - Open source pool/database/proxy/passthrough/library in c for Linux

===Libraries===

=====C=====
*[https://github.com/libbtc/libbtc libbtc] - A fast, clean and small bitcoin C library
*[https://github.com/jgarzik/picocoin picocoin] - Tiny bitcoin library, with lightweight client and utils
*[https://github.com/luke-jr/libbase58 libbase58] - C library implementation of [[Base58]] and [[Base58Check]] encodings
*[[libblkmaker]] - C library implementation of [[getblocktemplate]] decentralized mining protocol

=====C++=====
*[[Libbitcoin]] - Comprehensive set of C++ libraries: key formats, crypto, math, encodings, urls, mnemonics, blockchain, full node, client-server, etc. Linux and OSX Autotools builds. Visual Studio solutions for Windows, with Unicode support. Extensive test suite and [https://travis-ci.org/libbitcoin continuous integration builds]. Core dependencies limited to [http://www.boost.org Boost] and [https://github.com/bitcoin/secp256k1 Libsecp256k1] with [http://zeromq.org ZeroMQ] required for client-server API.

====C / C++====
*[https://airbitz.co/bitcoin-wallet-api-library Bitcoin Wallet API Library] - Airbitz Core (ABC) C/C++ Library implements user authentication, account wallet creation, multi device synchronization and backup, transaction meta data management, Bitcoin address generation, key management, decentralized access to bitcoin network, shared wallets w/multisig (Q1 2015)

====Java====
*[[bitcoinj]] - popular client library for Java, currently used in several desktop/mobile applications.
*[[BCCAPI]] (BitCoin Client API) - a java library designed for making secure light-weight bitcoin clients.
*[[BitcoinCrypto]] - a lightweight Bitcoin crypto library for Java/Android.

====Objective-C====
*[https://github.com/keeshux/BitcoinSPV BitcoinSPV] - A native Bitcoin SPV client library for iOS with BIP32 support.

====Perl====
*[[Finance::MtGox]] - a Perl module which interfaces with the Mt. Gox API

====Python====
*[[python-blkmaker]] - Python module implementation of [[getblocktemplate]] decentralized mining protocol

===Development utilities===
*[[Bitcoin Dissector]] - a wireshark dissector for the bitcoin protocol
*[[Bitcoin Explorer]] - an advanced command line tool for working with bitcoin
*[[Bitcointools]] - a set of Python tools accessing the transaction database and the wallet
*[https://github.com/straumat/blockchain2graph Blockchain2graph] - a tool to import bitcoin blockchain into neo4j

===Lists of software===
*[[BitGit]] - list of Bitcoin-related opensource projects hosted at Git

===Developer resources===
*[[:Category:Developer|Category:Developer]]
*[[:Category:Technical|Category:Technical]]
*[[Original Bitcoin client/API calls list]]
*[[API reference (JSON-RPC)]]
*[[PHP_developer_intro|PHP Developer Introduction]]

===Other===
*[http://www.phyramid.com/ Phyramid] Digital Agency offering software development and design services for Bitcoin businesses.
*[[Bitcoin Consultancy]] - an organization providing open source software and Bitcoin-related consulting
*[[Open Transactions]] - a financial crypto and digital cash software library, complementary to Bitcoin
*[[Moneychanger]] - Java-based GUI for [[Open Transactions]]
*[http://btcnames.org/ BTCnames] - a webbased aliasing service which allows to handle unlimited names for your BTC deposit hashes
* [http://www.bitcoinmining.com/bitcoin-mining-software/ Bitcoin Mining Software] - A helpful list of various Bitcoin software options

== Webservices / APIs ==

===Bitcoin Infrastructure===
* [[BlockTrail.com]] - Bitcoin API and platform for developers, complete with SDKs for PHP, Python, NodeJS and more
* [http://www.blockcypher.com BlockCypher] - High reliability Bitcoin Web Services, including web hooks, double spend detection and many SDKs.

===Bitcoin Trade Data===
*[[Bitcoin Charts]] – Prices, volume, and extensive charting on virtually all Bitcoin markets.
*[https://bitcoinchain.com BitcoinChain] - Bitcoin block explorer, exchange markets and mining pools.
*[[MtGox Live]] - An innovative chart showing a live feed of [[MtGox]] trades and market depth. (Must Use Chrome)
*[http://btccharts.com BTCCharts] - An innovative chart showing a live feed of multiple markets, currencies and timeframes.
*[http://MY-BTC.info MY-BTC.INFO] - A free profit/loss portfolio manager for Bitcoins and other digital currencies including many charts.
*[http://BitcoinExchangeRate.org BitcoinExchangeRate.org] - Bitcoin and USD converter with convenient URL scheme and Auto-updating Portfolio Spreadsheet.
*[[Bitcoin Sentiment Index]] - A financial index that collects and disseminates sentiment data about bitcoin.
*[[Preev]] - Bitcoin converter with live exchange rates.
*[[Skami]] - Bitcoin Market Exchange comparison charts.
*[[BitcoinSentiment]] - Crowdvoting site offering means of voting and viewing voters sentiment towards bitcoin.
*[[TradingView]] – network where traders exchange ideas about Bitcoin using advanced free online charts

===Web interfaces for merchants===

*[[File:Easybitz.png|20px|link=https://github.com/goethewins/EzBitcoin-Api-Wallet]] Simplest Web API for processing transactions with your own server. php code igniter, database and logging auth system included. Same as block chain.info api
*[[BitMerch]] - Embeddable HTML buttons, instant sign-up, instant payouts, automatic price adjustment for other currencies. No programming skills required to set up.
*[[Bitcoin Evolution]] - Non wallet-based Buy Now button to insert into websites (handles sales tracking; client must be used for actual transaction)
*[[BitPay]] - Buy Now buttons, Checkout posts/callbacks, Mobile Checkout, JSON API
*[[Btceconomy]] - a JavaScript widget listing items for sale
*[[BTCMerch]] - Payment processor for bitcoins and other cryptocurrencies. 0.5% transaction fee. Sandbox is available.
*[https://coinbase.com/merchants Coinbase] - Provides bitcoin payment processing for Overstock.com, Reddit, Khan Academy, OkCupid, and more.
*[[GoCoin]] - Payment gateway for bitcoin. Supports JavaScript, PHP, Java, Ruby, and .NET
*[[Javascript Bitcoin Converter]] - currency conversion
*[[WalletBit]] - Easy JavaScript Buy Now buttons, Instant Payment Notification, Application Programming Interface (JSON API), Mobile Checkout, QR-Code
* [https://www.PikaPay.com PikaPay] ([[PikaPay|info]]) The PikaPay service will be retiring as of March 1st, 2015

[[Category:Software|*]]

Talk:CoinJolt

2018-04-15T22:00:48Z

MeshCollider: Created page with "This page has had many reports of false information, including partnerships with other companies and much earlier founding dates / trade volume than are true. Potentially a sc..."

This page has had many reports of false information, including partnerships with other companies and much earlier founding dates / trade volume than are true. Potentially a scam site, the wiki is not the place for this kind of thing. Users continuing to add advertising like this will have their edit privileges reviewed. [[User:MeshCollider|MeshCollider]] ([[User talk:MeshCollider|talk]])

User talk:Kenrussellb

2018-04-15T05:45:59Z

MeshCollider:

Edit privileges suspended due to potential scam surrounding CoinJolt and misinformation about a partnership with BitGo
[[User:MeshCollider|MeshCollider]] ([[User talk:MeshCollider|talk]])

BitGo

2018-04-15T05:41:18Z

MeshCollider: Reverted edits by Kenrussellb (talk) to last revision by Expresscoin

The company operates a security-as-a-service platform that powers their online Bitcoin wallet and enterprise solutions for corporate treasury and key management.

==Features==
* Uses P2SH ([[BIP 16]])
* N-of-M Multisignuare Wallet

== Founders ==

* [[Will O'Brien]]
* [[Mike Belshe]]
* [[Ben Davenport]]

==History==

BitGo was founded in 2013.

On June 16, 2014, BitGo raised $12M led by Redpoint Ventures. <ref>[http://techcrunch.com/2014/06/16/bitgo-raises-12m-led-by-redpoint-for-multi-signature-bitcoin-wallets-services/ BitGo Raises $12M Led By Redpoint For Multi-Signature Bitcoin Wallets, Services]</ref>

==See Also==

* [[P2SH]] Addresses

==External Links==

* [http://www.bitgo.com Bitgo] Website
* [http://www.expresscoin.com/wallets/bitcoin/BitGo How to Setup a BitGo Bitcoin Wallet Online]

==References==
<references />

[[Category:Clients]]
[[Category:Wallets]]
[[Category:EWallets]]

Bitcoin

2018-04-14T21:04:33Z

MeshCollider: CoinJolt is suspicious and certainly isnt what the claims here make it out to be. This page isn't for advertising

'''Bitcoin''' is a decentralized [[digital currency]] created by an unknown person or group of people under the name [[Satoshi Nakamoto]] and released as open-source software in 2009. It does not rely on a central server to process transactions or store funds. There are a maximum of 2,099,999,997,690,000 Bitcoin elements (called Satoshis, the unit has been named in collective homage to the original creator), which are currently most commonly measured in units of 100,000,000 known as BTC. There will only ever be 21 million Bitcoin (BTC) to ever be created.

{{As of|January 2018}}, it is the most widely used alternative currency,<ref name="Quantitative Analysis of the Full Bitcoin Transaction Graph">{{cite web|title=Quantitative Analysis of the Full Bitcoin Transaction Graph|url=https://eprint.iacr.org/2012/584.pdf|publisher=Cryptology ePrint Archive|accessdate=18 October 2012|author=Ron Dorit|coauthors=Adi Shamir|page=17|quote=The Bitcoin system is the best known and most widely used alternative payment scheme,...}}</ref><ref name="Cryptocurrency Market Capitalization">{{Cite web|title=Coinmarketcap.com|url=https://coinmarketcap.com/}}</ref> now with the total market cap around 250 billion US dollars.<ref>{{cite web|title=Market Capitalization|url=https://coinmarketcap.com/currencies/bitcoin/|publisher= [[Coinmarketcap.com]] |accessdate=10 January 2018}}</ref>

Bitcoin has no central issuer; instead, the peer-to-peer network regulates Bitcoins, transactions and issuance according to consensus in network software. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoins are issued to various nodes that verify transactions through computing power;
it is established that there will be a limited and scheduled release of no more than 21 million BTC worth of coins, which will be fully issued by the year 2140.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted Bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using Bitcoin.

Internationally, Bitcoins can be exchanged and managed through various websites and [[software]] along with physical banknotes and coins.<ref>{{Cite web|title=Physical Bitcoins by Casascius|url=https://www.casascius.com/|publisher=Casascius Coins|accessdate=29 September 2012}}</ref><ref>{{Cite web|title=Bitbills|url=http://www.bitbills.com/|publisher=Bitbills|accessdate=29 September 2012}}</ref>

==History==
{{main|History}}

A cryptographic system for untraceable payments was first described by David Chaum in 1982.<ref>[http://blog.koehntopp.de/uploads/Chaum.BlindSigForPayment.1982.PDF David Chaum, Blind signatures for untraceable payments], Advances in Cryptology - Crypto '82, Springer-Verlag (1983), 199–203.</ref> In 1990 Chaum extended this system to create the first cryptographic anonymous electronic cash system.,<ref>{{cite journal|journal=Lecture Notes in Computer Science|last1=Chaum|first1=David|last2=Fiat|first2=Amos|last3=Naor|first3=Moni|title=Untraceable Electronic Cash|url=http://blog.koehntopp.de/uploads/chaum_fiat_naor_ecash.pdf}}</ref> which became known as ecash.
<ref>{{cite web|url=https://www.wired.com/wired/archive/2.12/emoney.html|publisher=Wired|title=E-Money (That's What I Want)|date=1994–2012|author=Steven Levy}}</ref> In 1998 [[Wei Dai]] published a description of an anonymous, distributed electronic cash system which he called "b-money".<ref>{{cite web|title=B-Money|url=http://www.weidai.com/bmoney.txt|author=Wei Dai|year=1998}}</ref> Around the same time, Nick Szabo created ''bit gold''.<ref>{{cite web|url=https://spectrum.ieee.org/computing/software/bitcoin-the-cryptoanarchists-answer-to-cash/0|title=Bitcoin: The Cryptoanarchists’ Answer to Cash|publisher=IEEE Spectrum|quote=Around the same time, Nick Szabo, a computer scientist who now blogs about law and the history of money, was one of the first to imagine a new digital currency from the ground up. Although many consider his scheme, which he calls “bit gold,” to be a precursor to Bitcoin}}</ref><ref name="bitgold">{{cite web|title=Bit gold|url=https://unenumerated.blogspot.co.uk/2005/12/bit-gold.html|author=Nick Szabo|quote=My proposal for bit gold is based on computing a string of bits from a string of challenge bits, using functions called variously "client puzzle function," "proof of work function," or "secure benchmark function.". The resulting string of bits is the proof of work.... The last-created string of bit gold provides the challenge bits for the next-created string.}}</ref> Like Bitcoin, ''Bit gold'' was a currency system where users would compete to solve a [[proof of work]] function, with solutions being cryptographically chained together and published via a distributed property title registry. A variant of ''Bit gold'', called ''Reusable Proofs of Work'', was implemented by Hal Finney.<ref name="bitgold"/>

In 2008, Satoshi Nakamoto published a [[Bitcoin_white_paper|paper]]<ref name="whitepaper">{{cite web
|last= Nakamoto
|first= Satoshi
|title= Bitcoin: A Peer-to-Peer Electronic Cash System
|url= http://www.cs.kent.edu/~JAVED/class-P2P12F/papers-2012/PAPER2012-p2p-bitcoin-satoshinakamoto.pdf
|accessdate = 14 December 2010
|date= 24 May 2009
|postscript=
}}</ref><ref>{{cite web
|url= https://article.gmane.org/gmane.comp.encryption.general/12588/
|title= Bitcoin P2P e-cash paper
}}</ref> on The Cryptography Mailing list at metzdowd.com<ref>[https://www.mail-archive.com/search?l=cryptography@metzdowd.com&q=from:%22Satoshi+Nakamoto%22 Satoshi's posts to Cryptography mailing list]</ref> describing the Bitcoin protocol.

The Bitcoin network came into existence on 3 January 2009 with the release of the first Bitcoin client, [[wxBitcoin]], and the issuance of the first Bitcoins.<ref>{{cite web |title=Block 0 – Bitcoin Block Explorer |url=https://blockexplorer.com/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f }}</ref><ref>{{cite web |url=https://www.mail-archive.com/cryptography@metzdowd.com/msg10142.html |title=Bitcoin v0.1 released}}</ref><ref>{{cite web |url=https://sourceforge.net/news/?group_id=244765 |title=SourceForge.net: Bitcoin}}</ref>
A year after, the initial exchange rates for Bitcoin were set by individuals on the bitcointalk forums.{{Citation needed|date=October 2012}} The most significant transaction involved a 10,000 BTC pizza.<ref>{{cite web|title=The Rise and Fall of Bitcoin|url=https://www.wired.com/magazine/2011/11/mf_bitcoin/|publisher=Wired|accessdate=13 October 2012}}</ref>
Today, the majority of Bitcoin exchanges occur on the [[Bitstamp]] Bitcoin exchange.<ref>{{cite web | title = Exchange volume distribution | work = by market | publisher = [[Bitcoin Charts]] | date = April 15, 2014 | url = https://bitcoincharts.com/charts/volumepie/ | accessdate = 2014-04-15 }}</ref>

In 2011, Wikileaks,<ref>{{cite news
|last= Greenberg
|first= Andy
|url= http://blogs.forbes.com/andygreenberg/2011/06/14/wikileaks-asks-for-anonymous-bitcoin-donations/
|title= WikiLeaks Asks For Anonymous Bitcoin Donations – Andy Greenberg – The Firewall – Forbes
|publisher= Blogs.forbes.com
|date= 2011-06-14
|accessdate = 2011-06-22
}}</ref> [[Freenet]],<ref>{{cite web
|url= https://freenetproject.org/donate.html
|title= /donate
|publisher= The Freenet Project
|date=
|accessdate = 2011-06-22
}}</ref> Singularity Institute,<ref>[http://singinst.org/donate/ SIAI donation page]</ref> Internet Archive,<ref>[https://www.archive.org/donate/index.php Internet Archive donation page]</ref> Free Software Foundation<ref>[https://my.fsf.org/donate/other/ Other ways to donate]</ref> and others, began [[Receiving_donations_with_bitcoin|to accept donations in Bitcoin]]. The Electronic Frontier Foundation did so for a while but has since stopped, citing concerns about a lack of legal precedent about new currency systems, and because they "generally don't endorse any type of product or service."<ref>{{cite web
|url= https://www.eff.org/deeplinks/2011/06/eff-and-bitcoin
|title= EFF and Bitcoin | Electronic Frontier Foundation
|publisher= Eff.org
|date= 2011-06-14
|accessdate = 2011-06-22
}}</ref> Some small businesses had started to adopt Bitcoin. LaCie, a public company, accepts Bitcoin for its Wuala service.<ref>{{Cite web|url=http://www.wuala.com/en/bitcoin |title=Secure Online Storage – Backup. Sync. Share. Access Everywhere |publisher=Wuala |date= |accessdate = 2012-01-24}}</ref>

In 2012, BitPay reports of having over 1000 merchants accepting Bitcoin under its payment processing service.<ref>{{cite web|title=BitPay Signs 1,000 Merchants to Accept Bitcoin Payments|url=http://www.americanbanker.com/issues/177_176/bitpay-signs-1000-merchants-to-accept-bitcoin-payments-1052538-1.html|publisher=American Banker|accessdate=12 October 2012}}</ref>

==Administration==
Bitcoin is administered through a decentralized peer-to-peer network.<ref name="whitepaper"/> Cryptographic technologies and the peer-to-peer network of computing power enables users to make and verify irreversible, instant online Bitcoin payments, without an obligation to trust and use centralized banking institutions and authorities. Dispute resolution services are not made directly available. Instead it is left to the users to verify and trust the parties they are sending money to through their choice of methods.

Bitcoins are issued according to rules agreed to by the majority of the computing power within the Bitcoin network. The core rules describing the predictable issuance of Bitcoins to its verifying servers, a voluntary and competitive transaction fee system and the hard limit of no more than 21 million BTC issued in total.<ref name="whitepaper"/>

Bitcoin does not require a central bank, State,<ref>{{cite web
|url= https://spectrum.ieee.org/computing/software/bitcoin-the-cryptoanarchists-answer-to-cash/3
|title= Bitcoin: The Cryptoanarchists' Answer to Cash
|publisher= IEEE.org
|date= June 2012
|accessdate = 2012-06-05
}}</ref> or incorporated backers.

==Services==
{{main|Wallet}}

Bitcoins are sent and received through software and websites called wallets. They send and confirm transactions to the network through Bitcoin addresses, the identifiers for users' Bitcoin wallets within the network.<ref name="whitepaper"/>

===Bitcoin addresses===
{{main|Address}}

Payments are made to Bitcoin "addresses": human-readable strings of numbers and letters around 33 characters in length, always beginning with the digit 1 or 3, as in the example of ''31uEbMgunupShBVTewXjtqbBv5MndwfXhb''.

Users obtain new Bitcoin addresses from their Bitcoin software. Creating a new address can be a completely offline process and require no communication with the Bitcoin network. Web services often generate a new Bitcoin address for every user, allowing them to have their custom deposit addresses.{{dubious}}

===Transaction fees===
{{main|Transaction fees}}
Transaction fees may be included with any transfer of Bitcoins. While it's technically possible to send a transaction with zero fee, {{as of|2017}} it's highly unlikely that one of these transactions confirms in a realistic amount of time, causing most nodes on the network to drop it. For transactions which consume or produce many outputs (and therefore have a large data size), higher transaction fees are usually expected.

===Confirmations===
{{main|Confirmation}}

The network's software confirms a transaction when it records it in a block. Further blocks of transactions confirm it even further. After six confirmations/blocks, a transaction is confirmed beyond reasonable doubt.

The network must store the whole transaction history inside the blockchain, which grows constantly as new records are added and never removed. Nakamoto conceived that as the database became larger, users would desire applications for Bitcoin that didn't store the entire database on their computer. To enable this, the blockchain uses a [[merkle tree]] to organize the transaction records in such a way that client software can locally delete portions of its own database it knows it will never need, such as earlier transaction records of Bitcoins that have changed ownership multiple times.

==Economics==

===Initial distribution===

Bitcoin has no centralized issuing authority.<ref name="ars-06-08-11">
{{Cite news
|first= Thomas
|last= Lowenthal
|title= Bitcoin: inside the encrypted, peer-to-peer digital currency
|newspaper= Ars Technica
|date= 8 June 2011
|url= https://arstechnica.com/tech-policy/news/2011/06/bitcoin-inside-the-encrypted-peer-to-peer-currency.ars
}}</ref><ref>{{cite news
|author= Sponsored by
|url= http://www.economist.com/blogs/babbage/2011/06/virtual-currency
|title= Virtual currency: Bits and bob
|publisher= The Economist
|date=
|accessdate = 2011-06-22
}}</ref><ref>{{cite web
|last= Geere
|first= Duncan
|url= https://www.wired.co.uk/news/archive/2011-05/16/bitcoin-p2p-currency
|title= Peer-to-peer currency Bitcoin sidesteps financial institutions (Wired UK)
|publisher= Wired.co.uk
|date=
|accessdate = 2011-06-22
}}</ref> The network is programmed to increase the money supply as a geometric series until the total number of Bitcoins reaches 21 million BTC.<ref name="Quantitative Analysis of the Full Bitcoin Transaction Graph"/> {{As of|2012|10}} slightly over 10 million of the total 21 million BTC had been created; the current total number created is available online.<ref>{{cite web
|title= Total Number of Bitcoins in Existence
|url= https://blockexplorer.com/q/totalbc
|work= Bitcoin Block Explorer
|accessdate = 2012-10-03
}}</ref> By 2013 half of the total supply will have been generated, and by 2017, three-quarters will have been generated. To ensure sufficient granularity of the [[money supply]], clients can divide each BTC unit down to eight decimal places (a total of 2.1 × 10<sup>15</sup> or 2.1 quadrillion units).<ref name="lwn">{{Cite news
|author= Nathan Willis
|date= 2010-11-10
|title= Bitcoin: Virtual money created by CPU cycles
|publisher= LWN.net
|url= https://lwn.net/Articles/414452/
}}</ref>

The network {{As of|2012|lc=on}} required over one million times more work for confirming a block and receiving an award (25 BTC {{As of|2012|2|lc=on}}) than when the first blocks were confirmed.
The difficulty is automatically adjusted every 2016 blocks based on the time taken to find the previous 2016 blocks such that one block is created roughly every 10 minutes.

Those who chose to put computational and electrical resources toward mining early on had a greater chance at receiving awards for block generations. This served to make available enough processing power to process blocks. Indeed, without miners there are no transactions and the Bitcoin economy comes to a halt.

===Exchange rate===
Prices fluctuate relative to goods and services more than more widely accepted currencies;
the price of a Bitcoin is not static.

In August 2012, 1 BTC traded at around $10.00 USD. Taking into account the total number of Bitcoins mined, the monetary base of the Bitcoin network stands at over 110 million USD.<ref>[http://www.bitcoinwatch.com/ http://www.bitcoinwatch.com/] Bitcoin statistics</ref>

== Anonymity ==
{{main|Anonymity & Security}}

=== Transactions ===

While using Bitcoins is an excellent way to make your purchases, donations, and p2p payments, without losing money through inflated transaction fees, transactions are never truly anonymous. Buying Bitcoin you pass identification, Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. Bitcoin activities are recorded and available publicly via the [[blockchain]], a comprehensive database which keeps a record of Bitcoin transactions.

=== Buying/selling Bitcoins ===

All exchange companies require the user to scan ID documents, and large transactions must be reported to the proper governmental authority.

This means that a third party with an interest in tracking your activities can use your visible balance and ID information as a basis from which to track your future transactions or to study previous activity. In short, you have compromised your [[security]] and [[privacy]].

In addition to conventional exchanges there are also peer-to-peer exchanges. Peer to peer exchanges will often not collect KYC and identity information directly from users, instead they let the users handle KYC amongst themselves. These can often be a better alternative for those looking to purchase Bitcoin quickly and without KYC delay.

=== Mixing services ===

[http://anonymity.co.in/mixing_services.html Mixing services] are used to avoid compromising of privacy and security. Mixing services provide to periodically exchange your Bitcoin for different ones which cannot be associated with the original owner.

== Security ==
{{seealso|Weaknesses}}

In the history of Bitcoin, there have been a few [[incidents]], caused by problematic as well as malicious transactions. In the worst such incident, and the only one of its type, a person was able to pretend that he had a practically infinite supply of Bitcoins, for almost 9 hours.

Bitcoin relies, among other things, on [https://en.wikipedia.org/wiki/Public-key_cryptography public key cryptography] and thus may be vulnerable to [https://en.wikipedia.org/wiki/Elliptic_curve_cryptography#Quantum_computing_attacks quantum computing attacks] if and when practical quantum computers can be constructed.

If multiple different software packages, whose usage becomes widespread on the Bitcoin network, disagree on the protocol and the rules for transactions, this could potentially cause a fork in the block chain, with each faction of users being able to accept only their own version of the history of transactions. This could influence the price of Bitcoins.

A global, organized campaign against the currency or the software could also influence the demand for Bitcoins, and thus the exchange price.

==Bitcoin mining==
{{main|Mining}}

Bitcoin mining nodes are responsible for managing the Bitcoin network.

Bitcoins are awarded to Bitcoin nodes known as "miners" for the solution to a difficult [[proof-of-work]] problem which confirms transactions and prevents double-spending. This incentive, as the Nakamoto white paper describes it, encourages "nodes to support the network, and provides a way to initially distribute coins into circulation, since no central authority issues them."<ref name="whitepaper" />

Nakamoto compared the generation of new coins by expending CPU time and electricity to gold miners expending resources to add gold to circulation.<ref name="whitepaper"/>

[[File:Cryptocurrency Mining Farm.jpg|right|350px|thumb|Iceland is a good location for [[mining]] Bitcoin because of the natural cold temperature.]]

===Node operation===

The node software for the Bitcoin network is based on peer-to-peer networking, digital signatures and cryptographic proof to make and verify transactions. Nodes broadcast transactions to the network, which records them in a public record of all transactions, called the ''blockchain'', after validating them with a [[proof-of-work|proof-of-work system]].

Satoshi Nakamoto designed the first Bitcoin node and mining software<ref name="processors">{{Cite news
|last= Davis
|first= Joshua
|title= The Crypto-Currency
|url= https://www.wired.com/magazine/2011/11/mf_bitcoin/all
|accessdate = 11 November 2011
|newspaper= Wired Magazine
|date= 10 November 2011
}}</ref> and developed the majority of the first implementation, Bitcoind, from 2007 to mid-2010.<ref name="code_start">{{cite web
|url= https://bitcointalk.org/index.php?topic=13.msg46#msg46
|title= Questions about Bitcoin
|publisher= Bitcoin forum
|date= 2009-12-10
}}</ref>

Node implementations include core software such as Bitcoind/Bitcoin-Qt, [[libbitcoin]], [[cbitcoin]]<ref>{{Cite web|title=cbitcoin|url=https://github.com/MatthewLM/cbitcoin|accessdate=3 October 2012}}</ref> and [[BitCoinJ|bitcoinj]].<ref>{{cite web
|url= https://news.slashdot.org/story/11/03/23/0210207/Google-Engineer-Releases-Open-Source-Bitcoin-Client
|title= Google Engineer Releases Open Source Bitcoin Client
|author= angry tapir, timothy
|date= 23 March 2011
|publisher= Slashdot
|accessdate = 2011-05-18
}}</ref><ref>{{cite web
|url= http://www.javaworld.com/javaworld/jw-01-2012/120110-bitcoin-for-beginners-3.html?page=1
|title= Bitcoin for beginners: The BitcoinJ API
|author= Dirk Merkel
|date= 10 January 2012
|publisher= JavaWorld
|accessdate = 2012-08-03
}}</ref>

Every node in the Bitcoin network collects all the unacknowledged transactions it knows of in a file called a ''block'', which also contains a reference to the previous valid block known to that node. It then appends a [[nonce]] value to this previous block and computes the SHA-256 cryptographic hash of the block and the appended nonce value. The node repeats this process until it adds a nonce that allows for the generation of a hash with a value lower than a specified ''target''. Because computers cannot practically reverse the hash function, finding such a nonce is hard and requires on average a predictable amount of repetitious trial and error. This is where the ''[[proof-of-work]]'' concept comes in to play. When a node finds such a solution, it announces it to the rest of the network. Peers receiving the new solved block validate it by computing the hash and checking that it really starts with the given number of zero bits (i.e., that the hash is within the target). Then they accept it and add it to the chain.

===Mining rewards===
In addition to receiving the pending transactions confirmed in the block, a generating node adds a ''generate'' transaction, which awards new Bitcoins to the operator of the node that generated the block. The system sets the payout of this generated transaction according to its defined inflation schedule. The miner that generates a block also receives the fees that users have paid as an incentive to give particular transactions priority for faster confirmation.<ref>[https://www.bitcoinmining.com Bitcoin Mining]</ref>

The network never creates more than a 50 BTC reward per block and this amount will decrease over time towards zero, such that no more than 21 million BTC will ever exist.<ref name="lwn" /> As this payout decreases, the incentive for users to run block-generating nodes is intended to change to earning [[#Transaction fees|transaction fees]].

===Mining pools===
{{main|Pooled mining}}

Bitcoin users often pool computational effort to increase the stability of the collected fees and subsidy they receive.<ref name="We Use Coins Mining">{{cite web|title=About Bitcoin Mining|url=https://www.weusecoins.com/en/mining-guide/|publisher=We Use Coins|accessdate=27 May 2015}}</ref>

===Mining difficulty===
{{main|Difficulty}}

In order to throttle the creation of blocks, the difficulty of generating new blocks is adjusted over time. If mining output increases or decreases, the difficulty increases or decreases accordingly.

The adjustment is done by changing the threshold that a hash is required to be less than. A lower threshold means fewer possible hashes can be accepted, and thus a higher degree of difficulty. The target rate of block generation is one block every 10 minutes, or 2016 blocks every two weeks. Bitcoin changes the difficulty of finding a valid block every 2016 blocks, using the difficulty that would have been most likely to cause the prior 2016 blocks to have taken two weeks to generate, according to the timestamps on the blocks. Technically, this is done by modeling the generation of Bitcoins as Poisson process. All nodes perform and enforce the same difficulty calculation.

Difficulty is intended as an automatic stabilizer allowing mining for Bitcoins to remain profitable in the long run for the most efficient miners, independently of the fluctuations in demand of Bitcoin in relation to other currencies.

===Mining hardware===
{{main|Mining Hardware Comparison}}

Bitcoins used to be mined through Intel/AMD CPUs. {{As of | 2012}}, mining has gradually moved to [[GPU]] and [[FPGA]] hardware.<ref name="bitcoinmag-butterfly" /> [[Application-specific integrated circuit|ASIC]]-based hardware for Bitcoin mining has been announced by several manufacturers who intend to ship products from late 2012 to early 2013.<ref name="bitcoinmag-butterfly">{{Cite web|title=Bitpay Breaks Daily Volume Record with Butterfly ASIC mining release|url=http://bitcoinmagazine.net/bitpay-breaks-daily-volume-record-with-butterfly-asic-mining-release/|publisher=Bitcoin Magazine}}</ref>

==Concerns==

===As an investment===
{{main|Bitcoin as an investment}}

Bitcoin describes itself as an experimental digital currency. Reuben Grinberg has noted that Bitcoin's supporters have argued that Bitcoin is neither a security or an investment because it fails to meet the criteria for either category.<ref name="grinberg">{{cite web | url=http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1817857 | title=Bitcoin: An Innovative Alternative Digital Currency | publisher=SSRN | date=9 December 2011 | accessdate=4 December 2012 | author=Grinberg, Reuben}}</ref> Although it is a virtual currency, some people see it as an investment<ref name="cnbc">{{cite web | url=http://www.cnbc.com/id/45030812/The_Pros_And_Cons_Of_Biting_on_Bitcoins | title=The Pros And Cons Of Biting on Bitcoins | publisher=CNBC | date=23 November 2011 | accessdate=4 December 2012 | author=Gustke, Constance}}</ref> or accuse it of being a form of investment fraud known as a Ponzi scheme.<ref>{{cite web |url=https://www.theregister.co.uk/2011/06/08/bitcoin_under_attack/ |title=US senators draw a bead on Bitcoin |last1=Chirgwin |first1=Richard |date=8 June 2011 |publisher=The Register |accessdate=14 November 2012}}</ref><ref>{{cite web |url=http://uk.reuters.com/article/2012/04/01/uk-traders-bitcoin-idUKBRE8300JL20120401 |title=Bitcoin, the City traders' anarchic new toy |last1=O'Leary |first1=Naomi |date=2 April 2012 |publisher=Reuters |accessdate=14 November 2012}}</ref> A report by the European Central Bank, using the U.S. Securities and Exchange Commission's definition of a Ponzi scheme, found that the use of Bitcoins shares some characteristics with Ponzi schemes, but also has characteristics of its own which contradict several common aspects of Ponzi schemes.<ref name="ecbreport">{{cite web | url=http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf | title=Virtual Currency Schemes | publisher=European Central Bank | date=October 2012 | accessdate=4 December 2012}}</ref>

===Privacy===
Because transactions are broadcast to the entire network, they are inherently public. Unlike regular banking,<ref>{{cite web
|url= https://spectrum.ieee.org/computing/software/bitcoin-the-cryptoanarchists-answer-to-cash/0
|title= Bitcoin: The Cryptoanarchists' Answer to Cash
|publisher= IEEE.org
|date= June 2012
|accessdate = 2012-06-05
}}</ref> which preserves customer privacy by keeping transaction records private, loose transactional privacy is accomplished in Bitcoin by using many unique addresses for every wallet, while at the same time publishing all transactions. As an example, if Alice sends 123.45 BTC to Bob, the network creates a public record that allows anyone to see that 123.45 has been sent from one address to another. However, unless Alice or Bob make their ownership of these addresses known, it is difficult for anyone else to connect the transaction with them. However, if someone connects an address to a user at any point they could follow back a series of transactions as each participant likely knows who paid them and may disclose that information on request or under duress.

It can be difficult to associate Bitcoin identities with real-life identities.<ref name="An Analysis of Anonymity in the Bitcoin System">Fergal Reid and Martin Harrigan (24 July 2011). [https://anonymity-in-bitcoin.blogspot.com/2011/07/bitcoin-is-not-anonymous.html An Analysis of Anonymity in the Bitcoin System]. An Analysis of Anonymity in the Bitcoin System.</ref> This property makes Bitcoin transactions attractive to sellers of illegal products.<ref name="Forbes">Andy Greenberg (20 April 2011). [http://www.forbes.com/forbes/2011/0509/technology-psilocybin-bitcoins-gavin-andresen-crypto-currency.html Crypto Currency]. Forbes Magazine.</ref><ref>{{cite web
|last= Madrigal
|first= Alexis
|title= Libertarian Dream? A Site Where You Buy Drugs With Digital Dollars
|publisher= The Atlantic Monthly
|date= 2011-06-01
|url= https://www.theatlantic.com/technology/archive/2011/06/libertarian-dream-a-site-where-you-buy-drugs-with-digital-dollars/239776/
|accessdate = 2011-06-05
}}</ref>

===Illicit use===

====Cracking====
The cracking organization "LulzSec" accepted donations in Bitcoin, having said that the group "needs Bitcoin donations to continue their hacking efforts".<ref name="CNET">{{cite web
|last= Reisinger
|first= Don
|url= https://news.cnet.com/8301-13506_3-20070268-17/senators-target-bitcoin-currency-citing-drug-sales/
|title= Senators target Bitcoin currency, citing drug sales | The Digital Home – CNET News
|publisher= News.cnet.com
|date= 2011-06-09
|accessdate = 2011-06-22
}}</ref><ref>{{cite news
|last= Olson
|first= Parmy
|url= http://blogs.forbes.com/parmyolson/2011/06/06/lulzsec-hackers-posts-sony-dev-source-code-get-7k-donation/
|title= LulzSec Hackers Post Sony Dev. Source Code, Get $7K Donation – Parmy Olson – Disruptors – Forbes
|publisher= Blogs.forbes.com
|date= 6 June 2011
|accessdate = 2011-06-22
}}</ref>

====Silk Road====
[[Silk Road]] is an anonymous black market that uses only the Bitcoin.<ref name="npr-06-12-11">
{{Cite news
|url= https://www.npr.org/2011/06/12/137138008/silk-road-not-your-fathers-amazon-com
|date= 12 June 2011
|newspaper= NPR
|title= Silk Road: Not Your Father's Amazon.com
|author= Staff
}}</ref>

In a 2011 letter to Attorney General Eric Holder and the Drug Enforcement Administration, senators Charles Schumer of New York and Joe Manchin of West Virginia called for an investigation into Silk Road and the Bitcoin.<ref name="npr-06-12-11"/>
Schumer described the use of Bitcoins at Silk Road as a form of money laundering.<ref name="ars-06-08-11"/>

====Botnet mining====
In June 2011, Symantec warned about the possibility of botnets engaging in covert "mining" of Bitcoins,<ref>{{Cite web|author=Updated: 17 June 2011 | Translations available: 日本語 |url=http://www.symantec.com/connect/blogs/bitcoin-botnet-mining |title=Bitcoin Botnet Mining | Symantec Connect Community |publisher=Symantec.com |date=2011-06-17 |accessdate = 2012-01-24}}</ref><ref>{{Cite web|url=http://www.zdnet.com/blog/security/researchers-find-malware-rigged-with-bitcoin-miner/8934 |title=Researchers find malware rigged with Bitcoin miner |publisher=ZDNet |date=2011-06-29 |accessdate = 2012-01-24}}</ref> consuming computing cycles, using extra electricity and possibly increasing the temperature of the computer (not associated with [http://snowafter.com Snow Day Calculator]). Later that month, the Australian Broadcasting Corporation caught an employee using the company's servers to generate Bitcoins without permission.<ref>{{Cite web|url=http://thenextweb.com/au/2011/06/23/abc-employee-caught-mining-for-bitcoins-on-company-servers/ |title=ABC employee caught mining for Bitcoins on company servers |publisher=The Next Web |date=2011-06-23 |accessdate = 2012-01-24}}</ref> Some malware also uses the parallel processing capabilities of the GPUs built into many modern-day video cards.<ref>{{Cite news |url=https://www.theregister.co.uk/2011/08/16/gpu_bitcoin_brute_forcing/ |title=Malware mints virtual currency using victim's GPU |date=16 August 2011|first=Dan |last=Goodin }}</ref> In mid August 2011, Bitcoin miner botnets were found;<ref>{{Cite web|url=http://www.infosecurity-magazine.com/view/20211/researcher-discovers-distributed-bitcoin-cracking-trojan-malware/ |title=Infosecurity – Researcher discovers distributed bitcoin cracking trojan malware |publisher=Infosecurity-magazine.com |date=2011-08-19 |accessdate = 2012-01-24}}</ref> trojans infecting Mac OS X have also been uncovered.<ref>{{Cite web|url=http://www.techworld.com.au/article/405849/mac_os_x_trojan_steals_processing_power_produce_bitcoins |title=Mac OS X Trojan steals processing power to produce Bitcoins – sophos, security, malware, Intego – Vulnerabilities – Security |publisher=Techworld |date=2011-11-01 |accessdate = 2012-01-24}}</ref>

===Theft and fraud===
On 19 June 2011, a security breach of the Mt.Gox (an acronym for ''M''agic: ''T''he ''G''athering ''O''nline E''x''change, its original purpose) Bitcoin Exchange caused the price of a Bitcoin to briefly drop to US$0.01 on the Mt.Gox exchange (though it remained unaffected on other exchanges) after a hacker allegedly used credentials from a Mt.Gox auditor's compromised computer to illegally transfer a large number of Bitcoins to him- or herself and sell them all, creating a massive "ask" order at any price. Within minutes the price rebounded to over $15 before Mt.Gox shut down their exchange and canceled all trades that happened during the hacking period.<ref>[https://mtgox.com/press_release_20110630.html Clarification of Mt Gox Compromised Accounts and Major Bitcoin Sell-Off]</ref><ref>[https://www.youtube.com/watch?v=T1X6qQt9ONg YouTube. Bitcoin Report]</ref> The exchange rate of Bitcoins quickly returned to near pre-crash values.<ref name="mick">Jason Mick, 19 June 2011, [http://www.dailytech.com/Inside+the+MegaHack+of+Bitcoin+the+Full+Story/article21942.htm Inside the Mega-Hack of Bitcoin: the Full Story], DailyTech</ref><ref>Timothy B. Lee, 19 June 2011, [https://arstechnica.com/tech-policy/news/2011/06/bitcoin-price-plummets-on-compromised-exchange.ars Bitcoin prices plummet on hacked exchange], Ars Technica</ref><ref>Mark Karpeles, 20 June 2011, [https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback Huge Bitcoin sell off due to a compromised account – rollback], Mt.Gox Support</ref><ref name="register1">{{Cite news
|title= Bitcoin collapses on malicious trade – Mt Gox scrambling to raise the Titanic
|url= https://www.theregister.co.uk/2011/06/19/bitcoin_values_collapse_again/
|date= 2011-06-19
|author= Chirgwin, Richard
|publisher= The Register
}}</ref> Accounts with the equivalent of more than USD 8,750,000 were affected.<ref name="mick" />

In July 2011, The operator of Bitomat, the third largest Bitcoin exchange, announced that he lost access to his wallet.dat file with about 17,000 Bitcoins (roughly equivalent to 220,000 USD at that time). He announced that he would sell the service for the missing amount, aiming to use funds from the sale to refund his customers.<ref>[http://siliconangle.com/blog/2011/08/01/third-largest-bitcoin-exchange-bitomat-lost-their-wallet-over-17000-bitcoins-missing/ Third Largest Bitcoin Exchange Bitomat Lost Their Wallet, Over 17,000 Bitcoins Missing]. SiliconAngle</ref>

In August 2011, MyBitcoin, one of popular Bitcoin transaction processors, declared that it was hacked, which resulted in it being shut down, with paying 49% on customer deposits, leaving more than 78,000 BitCoins (roughly equivalent to 800,000 USD at that time) unaccounted for.<ref>[http://betabeat.com/2011/08/mybitcoin-spokesman-finally-comes-forward-what-did-you-think-we-did-after-the-hack-we-got-shitfaced/ MyBitcoin Spokesman Finally Comes Forward: “What Did You Think We Did After the Hack? We Got Shitfaced”]. BetaBeat</ref><ref>[http://betabeat.com/2011/08/search-for-owners-of-mybitcoin-loses-steam/ Search for Owners of MyBitcoin Loses Steam]. BetaBeat</ref>

In early August 2012, a lawsuit was filed in San Francisco court against Bitcoinica, claiming about 460,000 USD from the company. Bitcoinica was hacked twice in 2012, which led to allegations of neglecting the safety of customers' money and cheating them out of withdrawal requests.<ref>[https://arstechnica.com/tech-policy/2012/08/bitcoinica-users-sue-for-460k-in-lost-bitcoins/ Bitcoinica users sue for $460k in lost Bitcoins]. Arstechnica</ref><ref>[https://spectrum.ieee.org/tech-talk/computing/networks/first-bitcoin-lawsuit-filed-in-san-francisco First Bitcoin Lawsuit Filed In San Francisco]. IEEE Spectrum</ref>

In late August 2012, Bitcoin Savings and Trust was shut down by the owner, allegedly leaving around $5.6 million in debts; this led to allegations of the operation being a Ponzi scheme.<ref>{{Cite web|title=Bitcoin ponzi scheme – investors lose $5 million USD in online hedge fund|url=https://rt.com/usa/news/investors-currency-digital-fund-868/|publisher=RT}}</ref><ref>{{Cite web|last=Jeffries|first=Adrianne|title=Suspected multi-million dollar Bitcoin pyramid scheme shuts down, investors revolt|url=http://www.theverge.com/2012/8/27/3271637/bitcoin-savings-trust-pyramid-scheme-shuts-down|publisher=The Verge}}</ref><ref>{{Cite web|last=Mick|first=Jason|title="Pirateat40" Makes Off $5.6M USD in Bitcoin From Pyramid Scheme|url=http://www.dailytech.com/Pirateat40+Makes+Off+56M+USD+in+BitCoins+From+Pyramid+Scheme/article25538.htm|publisher=DailyTech}}</ref><ref>[https://pandodaily.com/2012/08/31/bitcoin-how-a-virtual-currency-became-real-with-a-5-6m-fraud/ Bitcoin: How a Virtual Currency Became Real with a $5.6M Fraud]. PandoDaily</ref> In September 2012, it was reported that U.S. Securities and Exchange Commission has started an investigation on the case.<ref>[http://blogs.telegraph.co.uk/technology/willardfoxton2/100007836/bitcoin-pirate-scandal-sec-steps-in-amid-allegations-that-the-whole-thing-was-a-ponzi-scheme/ Bitcoin 'Pirate' scandal: SEC steps in amid allegations that the whole thing was a Ponzi scheme ]. The Telegraph</ref>

In September 2012, Bitfloor Bitcoin exchange also reported being hacked, with 24,000 Bitcoins (roughly equivalent to 250,000 USD) stolen. As a result, Bitfloor suspended operations.<ref>[http://www.bbc.co.uk/news/technology-19486695 Bitcoin theft causes Bitfloor exchange to go offline]. BBC</ref><ref>[http://www.theverge.com/2012/9/5/3293375/bitfloor-bitcoin-exchange-suspended-theft Bitcoin exchange BitFloor suspends operations after $250,000 theft Bitcoin exchange BitFloor suspends operations after $250,000 theft]. The Verge</ref> The same month, Bitfloor resumed operations, with its founder saying that he reported the theft to FBI, and that he is planning to repay the victims, though the time frame for such repayment is unclear.<ref>[http://www.pcworld.com/article/2010586/bitcoin-exchange-back-online-after-hack.html?tk=rel_news Bitcoin exchange back online after hack]. PCWorld</ref>

===Taxation===
In September 2012, the Intra-European Organization of Tax Administrations (IOTA), in Tbilisi, Georgia, held a workshop titled "Auditing Individuals and Legal Entities in the Use of e-Money." The workshop was attended by representatives from 23 countries.<ref name="Bitcoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref> Jerry Taylor, IOTA's technical taxation expert, said, "There's an awful lot happening on the Internet environment which is fascinating at the moment and introducing new challenges for auditors when it comes to virtual currency."<ref name="Bitcoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref> Bitcoin was mentioned during the workshop.<ref name="Bitcoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref>

Matthew Elias, founder of the [[Cryptocurrency Legal Advocacy Group]] (CLAG) published "Staying Between the Lines: A Survey of U.S. Income Taxation and its Ramifications on Cryptocurrencies", which discusses "the taxability of cryptocurrencies such as Bitcoin."<ref name="Bitcoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref> CLAG "stressed the importance for taxpayers to determine on their own whether taxes are due on a Bitcoin-related transaction based on whether one has "experienced a realization event."<ref name="Bitcoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref> Such examples are "when a taxpayer has provided a service in exchange for Bitcoins, a realization event has probably occurred, and any gain or loss would likely be calculated using fair market values for the service provided."<ref name="Bitcoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref>

[[Peter Vessenes]], [[Bitcoin Foundation|Bitcoin Foundation's]] executive director, said, since the foundation is trying to pay for everything in Bitcoin, including salaries, "How do we W-2 someone for their Bitcoins? Do we mark-to-market every time a transfer happens? Payroll companies cringe."<ref name="BitCoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref> The Bitcoin Foundation hopes "to push for solid guidance about its legal and tax treatment." [[Patrick Murck]], legal counsel for the Bitcoin Foundation, said he would like "to help regulators understand the technology better so they can make better decisions."<ref name="BitCoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref> Murck said, "Bitcoin has the potential to become much more than a niche currency, but it needs the guidance and understanding of regulators." and "The full potential of Bitcoin could be realized through clearer guidelines and a better understanding by financial and tax regulators." and "Part of making that happen is to talk to regulators, the IRS, and tax professionals and helping them understand that Bitcoin is not this nefarious thing, it's just software, it's a community, and there's nothing inherently nefarious about either of those things."<ref name="BitCoin Tax issues Oct 2012">{{cite journal | title=2012 TNT 209-4 NEWS ANALYSIS: VIRTUAL CURRENCY: A NEW WORRY FOR TAX ADMINISTRATORS?. (Release Date: OCTOBER 17, 2012) (Doc 2012-21516) | author=Stewart, David D. and Soong Johnston, Stephanie D. | journal=Tax Notes Today | year=2012 | month=October 29 | volume=2012 TNT 209-4 | issue=2012 TNT 209-4}}</ref>

==See Also==
* [[Introduction]]
* [[Getting started]]
* [[Using_Bitcoin|Detailed tutorial]]
* [[FAQ]]
* [https://www.weusecoins.com What Is Bitcoin?]
* [https://www.bitcoinmining.com What Is Bitcoin Mining?]

==References==
<references />

[[Category:Digital currencies]]
{{wp}}{{p-move}}{{good}}
[[es:Bitcoin]][[de:Bitcoin]]

User talk:Acarli

2018-03-15T08:55:10Z

MeshCollider: Created page with "Please stop using the wiki for advertising, all purely commercial content is slowly being removed from the wiki, do not add more. ~~~"

Please stop using the wiki for advertising, all purely commercial content is slowly being removed from the wiki, do not add more. [[User:MeshCollider|MeshCollider]] ([[User talk:MeshCollider|talk]])

Bitcoin as an investment

2018-03-11T00:07:57Z

MeshCollider: Reverted edits by Amandaphiffer (talk) to last revision by Belcher

This page discusses the case for owning bitcoin as an investment and store of value.

==The case for investing==

# There is a [[Controlled supply|fixed supply]] of bitcoins. There will never be more than 21 million bitcoins.
# Because of bitcoin's [[Bitcoin as a medium of exchange|useful properties as a medium of exchange]], demand is growing or at least staying the same.
# Fixed supply and growing demand implies a growing price.

==Store of value==

Bitcoin has useful properties to make it a good store of value. It has been described as a "swiss bank account in your pocket"<ref>https://www.reddit.com/r/Bitcoin/comments/4a2l55/obama_meme_bitcoin_is_like_having_a_swissbank/</ref>.

* '''Cannot be debased.''' Limited to [[Controlled supply|21 million coins]] only.
* '''No storage cost.''' Bitcoins take up no physical space, [[Storing bitcoins|any amount can be stored]].
* '''Easy to hide.''' Can be stored encrypted on a paper, on disk, or even [[Brainwallet|memorized in your brain]].
* '''Can be made [[Anonymity|anonymous]]''', meaning nobody would even know you own bitcoins or how many.
* '''Easy to protect.''' Can be made impossible to steal or seize by any thief, government or bank.
* '''Censorship resistant.''' The coins can be [[Bitcoin as a medium of exchange|sent anywhere in the world through the internet without being blocked]].
* '''No counterparty risk.''' Coins are in your possession, if you keep the [[private key]] of a bitcoin secret and the transaction has enough [[Confirmation|confirmations]], then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

Even if these properties are not useful to you, they may be useful to others which would benefit you by increasing the value of your held bitcoins.

==Useful notes==

===Difficulty with storing and theft===

Because bitcoin is a digital asset, it can be un-intuitive to store safely. Users should definitely [[Ways to store Bitcoins|read the guides]] for correctly storing bitcoins. Historically many people have lost their coins but with proper understanding the risks can be eliminated. If your bitcoins do end up lost or stolen then there's almost certainly nothing that can be done to get them back.

===Preserving these properties===

Bitcoin is a software project. There's an obvious question of how it's useful properties can be maintained. Couldn't some programmer simply edit the source code to create more than 21 million bitcoins? The answer turns out to be no. Bitcoin is secured by strong cryptography and game theory, and it's properties are very hard or impossible to change.

See also:

* [[Myths#Miners, developers or some other entity could change Bitcoin's properties to benefit themselves]]
* [[Principles of Bitcoin]]
* [[Economic majority]]

Some people say that although the supply of bitcoin is limited, an infinite amount of other cryptocurrencies (altcoins) can be created. This is fundamentally confused reasoning because bitcoin and altcoins are different currencies, as bitcoin wallets would reject altcoin payments and vis versa. Claiming altcoins dilute the supply of bitcoins is like saying hyperinflation of the Venezuelan currency dilutes the supply of US Dollars.

===Volatility===

Bitcoin is much more volatile than some other assets. This can be good when the price is rising but bad when the price is falling. One way to deal with this is to only hold a certain percentage of your savings in bitcoin and the rest in more stable assets. You could also deal with it by studying bitcoin's fundamentals deeply so that temporary price drops do not scare you into selling low. Investing with a dollar-cost-averaging strategy can also reduce the effects of volatility<ref>https://breadwallet.com/blog/how-invest-bitcoin-without-getting-hurt-volatility/</ref>.

===Uncorrelated asset===

Although bitcoin is volatile, it is mostly uncorrelated with any other asset classes<ref>http://www.signalplot.com/what-is-bitcoins-correlation-with-other-financial-assets/</ref>. This means bitcoin can reduce the overall volatility as part of a well-diversified portfolio.

==See also==
* [[Bitcoin as a medium of exchange]]
* [[Principles of Bitcoin]]
* [[Irreversible Transactions]]
* [[Controlled supply]]

==References==
<references />

[[Category:Economics]]

Satoshi Nakamoto

2018-03-11T00:07:40Z

MeshCollider: Reverted edits by Amandaphiffer (talk) to last revision by Ash1ey

:''For the unit, see [[satoshi (unit)]].''
'''Satoshi Nakamoto''' is the founder of [[Bitcoin]] and initial creator of the [[Original Bitcoin client]]. He has said in a P2P foundation profile<ref name="p2p_f_profile">[http://p2pfoundation.ning.com/profile/SatoshiNakamoto Satoshi Nakamoto profile on P2P Foundation]</ref> that he is from Japan. Beyond that, not much else is known about him and his identity. He has been working on the Bitcoin project since 2007.<ref>[https://bitcointalk.org/index.php?topic=13.msg46#msg46 Re: Questions about Bitcoin]</ref>

His involvement in the Bitcoin project had tapered and by late 2010 it has ended. The most recent messages reportedly indicate that Satoshi is "gone for good"<ref>[http://bitcoinstats.com/irc/bitcoin-dev/logs/2011/04/26#l1303826036.0 Transcript of #bitcoin-dev for 2011/04/26]</ref>.

==Possible Motives==
He left some clues about why he is doing this project with the inclusion of the following text in the [[Genesis block]], "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks".

Some interesting quotes:
<blockquote><p>Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of
freedom for several years.</p>

<p>Governments are good at cutting off the heads of a centrally controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem to be
holding their own.<ref>[http://www.mail-archive.com/cryptography@metzdowd.com/msg09971.html Re: Bitcoin P2P e-cash paper Fri, 07 Nov 2008 09:30:36 -0800]</ref></p></blockquote>

<blockquote>It's very attractive to the libertarian viewpoint if we can explain it
properly. I'm better with code than with words though. <ref>[http://www.mail-archive.com/cryptography@metzdowd.com/msg10001.html Re: Bitcoin P2P e-cash paper Fri, 14 Nov 2008 14:29:22]</ref></blockquote>

==Possible identity==
His identity and nationality are unknown.

He is entirely unknown outside of Bitcoin as far as anyone can tell, and his (never used) PGP key was created just months prior to the date of the genesis block. He seems to be very familiar with the cryptography mailing list, but there are no non-Bitcoin posts from him on it. He has used an email address from an anonymous mail hosting service (vistomail) as well as one from a free webmail account (gmx.com) and sends mail when connected via Tor. Some have speculated that his entire identity was created in advance in order to protect himself or the network. Perhaps he chose the name Satoshi because it can mean "wisdom" or "reason" and Nakamoto can mean "Central source".

Ultimately the design of Bitcoin and its use of cryptographic proof and fully open implementation is one that makes its creator, in a sense, irrelevant and only of interest for historical reasons.

==External links==
* [http://bitcointalk.org/Satoshi_Nakamoto.asc Satoshi's PGP public key]
* [http://www.bitcoin.org/bitcoin.pdf Bitcoin: A Peer-to-Peer Electronic Cash System] Paper
* [http://sourceforge.net/users/s_nakamoto SourceForge page]
* [http://nakamotoinstitute.org Satoshi Nakamoto Institute]

==References==
<references/>

[[de:Satoshi Nakamoto]]
[[es:Satoshi Nakamoto]]

[[Category:Individuals]]

Digital currency

2018-03-11T00:07:26Z

MeshCollider: Reverted edits by Amandaphiffer (talk) to last revision by Taras

A '''digital currency''' refers to money or [[wikipedia:scrip|scrip]] which is only exchanged electronically.

When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as [[PayPal]], the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency.

[[Bitcoin]] has been described as the first decentralized digital currency.

==See Also==
* [[BTConvert]]
* [[List of alternative cryptocurrencies]]
* [[:Category:Money transmitters|Money transmitters]]
* [[Redeemable code]]

==External Links==
* [http://en.wikipedia.org/wiki/Electronic_money Electronic Money] article on Wikipedia

Bitcoin roulette

2018-03-11T00:05:48Z

MeshCollider: Purely commercial content removal

The Bitcoin roulette that is mostly offered in gambling and roulette sites is based on the European roulette. In this way, you can ensure that you will have more chances of scoring big payouts as there is only one zero on the wheel.

When you bet on roulette with bitcoins, you will notice that you wager on inside and outside bets, just like in roulette games offered by regular online casinos. However, thanks to the use of bitcoins, the process of betting has become a lot easier.

Some roulette sites allow players to simply send their wager directly from their BTC wallet to the dynamically registered address of their bets. This process doesn’t require a registered account. On the other hand, some gambling sites require players to create an account and deposit bitcoins so that they can place their bets.

Forums

2018-02-17T11:29:16Z

MeshCollider:

{{Old}}

== General Bitcoin Discussion ==
* [https://bitcointalk.org/ The Bitcoin Forum]. (This is the original Bitcoin Forum, previously [https://web.archive.org/web/20091215005450/http://www.bitcoin.org:80/smf/ on bitcoin.org], where [https://bitcointalk.org/index.php?action=profile;u=3 Satoshi Nakamoto] used to [https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts post].)
* Reddit:
** [https://www.reddit.com/r/Bitcoin/ /r/Bitcoin]
** [https://www.reddit.com/r/bitcoinbeginners /r/bitcoinbeginners]
** ([https://www.reddit.com/r/Bitcoin/wiki/communities More Bitcoin subreddits])
* [http://bitco.in/forum/ Bitcoin Forum]
* [https://www.cryptocompare.com/coins/btc/forum/USD Cryptocompare - Bitcoin Forum]
* [http://www.bitcoinforum.ca Bitcoin Forum Canada]
* [http://www.bitcointrading.com/forum/index.php Bitcoin Trading Forum]
* [http://coinboards.org CoinBoards]
* [https://coinchat.org CoinChat - bitcoin integrated chat network with free BTC, gambling games, custom rooms, SSL encryption]
* [https://www.tradingview.com/chat/#bitcoin TradingView Bitcoin Chat]
* [http://btc-eth.community/ Bitcoin Community Forum]
* [http://rektex.com/ RektEx Cryptocurrency Forum]

*Google Plus:
** [https://plus.google.com/communities/115591368588047305300 Bitcoin Google+ Community]
** [https://plus.google.com/communities/116312962316485325190 Bitcoin Google+ Community]
** [https://plus.google.com/b/107581642674912229828/107581642674912229828/posts Google+ Page]
*Google Groups:
** [https://groups.google.com/group/bitcoin-discussion Google groups - bitcoin-discussion]
** [https://groups.google.com/group/bitcoinpeople Google groups - Bitcoin People]
* [https://hubski.com/tag?id=bitcoin Hubski - Bitcoin discussion]
* [https://axablends.com/merchants-accepting-bitcoin/ Merchants Accepting Bitcoin Forum]
* [http://bitcoincenterkorea.org Bitcoin Center Korea]
* [http://seoulbitcoin.org Seoul Bitcoin]
* [http://steamcommunity.com/groups/bitcoin Steam - Bitcoin]
* [http://www.talkgold.com/forum/f513-.html Talkgold - Bitcoin Forum]
* Facebook:
**[https://www.facebook.com/pages/Bitcoin/133067610063481 Facebook - Bitcoin]
** [https://www.facebook.com/bitcoin.p2p.digital.currency Facebook - Bitcoin]
** [https://www.facebook.com/btchkex Facebook - Bitcoin Hong Kong]
** [https://www.facebook.com/bitcoins Facebook - Bitcoin P2P Cryptocurrency]
** [https://www.facebook.com/IndiaBitcoin Facebook - Bitcoin India]
* [https://www.facebook.com/pages/Bitcoin-New-Zealand/189769464405632 New Zealand Facebook community]

== Regular shows and podcasts ==
* [http://letstalkbitcoin.com Let's talk bitcoin - Adam B. Levine's podcast]
** [https://www.reddit.com/r/letstalkbitcoin/ Let's talk bitcoin subreddit]
* [http://www.jupiterbroadcasting.com/show/planb Plan B - Juniper Broadcasting weekly bitcoin show]
** [https://www.youtube.com/user/jupiterbroadcasting/ Juniper Broadcasting youtube channel]
** [https://www.reddit.com/r/planbshow/ Plan B show subreddit]
* [http://www.thebitcoinchannel.com Bitcoin Channel - Bitcoin report and other videos/webcasts]
** [https://www.youtube.com/user/BitcoinChannel Bitcoin Channel on youtube]
* [http://bit-media.org/ Bit-media Bitcoin News]
** [https://www.youtube.com/channel/UCE1Y1LP64040veaEbdIYKYw Bit-media youtube Channel]
** [https://www.facebook.com/bitmediacommunity/ Bit-media Facebook Page]

== Language/Region Specific ==
* [https://bitcointalk.org/#5 Local Forums], including at this time:
** [https://bitcointalk.org/index.php?board=241.0 العربية (Arabic)]
** [https://bitcointalk.org/index.php?board=191.0 Bahasa Indonesia (Indonesian)]
** [https://bitcointalk.org/index.php?board=27.0 Español (Spanish)]
** [https://bitcointalk.org/index.php?board=30.0 中文 (Chinese)]
** [https://bitcointalk.org/index.php?board=201.0 Hrvatski (Croatian)]
** [https://bitcointalk.org/index.php?board=16.0 Deutsch (German)]
** [https://bitcointalk.org/index.php?board=120.0 Ελληνικά (Greek)]
** [https://bitcointalk.org/index.php?board=95.0 עברית (Hebrew)]
** [https://bitcointalk.org/index.php?board=13.0 Français]
** [https://bitcointalk.org/index.php?board=89.0 India]
** [https://bitcointalk.org/index.php?board=28.0 Italiano (Italian)]
** [https://bitcointalk.org/index.php?board=79.0 Nederlands (Dutch)]
** [https://bitcointalk.org/index.php?board=82.0 한국어 (Korean)]
** [https://bitcointalk.org/index.php?board=219.0 Philippines]
** [https://bitcointalk.org/index.php?board=142.0 Polski]
** [https://bitcointalk.org/index.php?board=29.0 Português (Portuguese)]
** [https://bitcointalk.org/index.php?board=10.0 Русский (Russian)]
** [https://bitcointalk.org/index.php?board=108.0 Română (Romanian)]
** [https://bitcointalk.org/index.php?board=45.0 Skandinavisk]
** [https://bitcointalk.org/index.php?board=133.0 Türkçe (Turkish)]
** [https://bitcointalk.org/index.php?board=11.0 Other languages/locations]
* [https://www.reddit.com/r/Bitcoin/wiki/local_communities List of Reddit local communities]
* [http://www.bitcoins.co.ke Nairobi, Kenya and Africa Bitcoin community forum]
* [https://www.coinforum.ca Canada's Bitcoin forum]
* [https://www.bitcoin-italia.org Italian Bitcoin community forum]
* [http://bitcoin.pl/forum/ Polish Bitcoin community forum]
* [https://forum.btcsec.com/ BTCsec.com Bitcoin community forum (Russian)]
* [http://bitcoincenterkorea.org Bitcoin Center Korea]
* [http://seoulbitcoin.org Seoul Bitcoin]
* [http://bitcoin.rs Serbian Bitcoin community forum]
* [http://www.bitcoin.si/ Slovenian bitcoin community]
* [http://www.bitcoin-tr.com/ Turkish Bitcoin community]
* [http://forum.bitcoinpenge.dk/ Danish Bitcoin community]
* [https://forum.bitcoin.co.id/ Indonesian Bitcoin Forum]

== Other ==

* [https://bitcoin.stackexchange.com Bitcoin StackExchange] - Q&A site
* The [https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev bitcoin-dev] mailing list, for “Bitcoin development and protocol discussion”
* The [https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-discuss bitcoin-discuss] mailing list, for “Technical discussion of bitcoin, beyond bitcoin-dev”
* [https://www.quora.com/topic/Bitcoin/ Quora - Bitcoin Questions and Answers]

==See Also==

* [[Bitcoin_Wiki:Community_portal]]

[[pl:Fora dyskusyjne]]

Forums

2018-02-17T11:28:17Z

MeshCollider:

[[Category:Outdated]]

== General Bitcoin Discussion ==
* [https://bitcointalk.org/ The Bitcoin Forum]. (This is the original Bitcoin Forum, previously [https://web.archive.org/web/20091215005450/http://www.bitcoin.org:80/smf/ on bitcoin.org], where [https://bitcointalk.org/index.php?action=profile;u=3 Satoshi Nakamoto] used to [https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts post].)
* Reddit:
** [https://www.reddit.com/r/Bitcoin/ /r/Bitcoin]
** [https://www.reddit.com/r/bitcoinbeginners /r/bitcoinbeginners]
** ([https://www.reddit.com/r/Bitcoin/wiki/communities More Bitcoin subreddits])
* [http://bitco.in/forum/ Bitcoin Forum]
* [https://www.cryptocompare.com/coins/btc/forum/USD Cryptocompare - Bitcoin Forum]
* [http://www.bitcoinforum.ca Bitcoin Forum Canada]
* [http://www.bitcointrading.com/forum/index.php Bitcoin Trading Forum]
* [http://coinboards.org CoinBoards]
* [https://coinchat.org CoinChat - bitcoin integrated chat network with free BTC, gambling games, custom rooms, SSL encryption]
* [https://www.tradingview.com/chat/#bitcoin TradingView Bitcoin Chat]
* [http://btc-eth.community/ Bitcoin Community Forum]
* [http://rektex.com/ RektEx Cryptocurrency Forum]

*Google Plus:
** [https://plus.google.com/communities/115591368588047305300 Bitcoin Google+ Community]
** [https://plus.google.com/communities/116312962316485325190 Bitcoin Google+ Community]
** [https://plus.google.com/b/107581642674912229828/107581642674912229828/posts Google+ Page]
*Google Groups:
** [https://groups.google.com/group/bitcoin-discussion Google groups - bitcoin-discussion]
** [https://groups.google.com/group/bitcoinpeople Google groups - Bitcoin People]
* [https://hubski.com/tag?id=bitcoin Hubski - Bitcoin discussion]
* [https://axablends.com/merchants-accepting-bitcoin/ Merchants Accepting Bitcoin Forum]
* [http://bitcoincenterkorea.org Bitcoin Center Korea]
* [http://seoulbitcoin.org Seoul Bitcoin]
* [http://steamcommunity.com/groups/bitcoin Steam - Bitcoin]
* [http://www.talkgold.com/forum/f513-.html Talkgold - Bitcoin Forum]
* Facebook:
**[https://www.facebook.com/pages/Bitcoin/133067610063481 Facebook - Bitcoin]
** [https://www.facebook.com/bitcoin.p2p.digital.currency Facebook - Bitcoin]
** [https://www.facebook.com/btchkex Facebook - Bitcoin Hong Kong]
** [https://www.facebook.com/bitcoins Facebook - Bitcoin P2P Cryptocurrency]
** [https://www.facebook.com/IndiaBitcoin Facebook - Bitcoin India]
* [https://www.facebook.com/pages/Bitcoin-New-Zealand/189769464405632 New Zealand Facebook community]

== Regular shows and podcasts ==
* [http://letstalkbitcoin.com Let's talk bitcoin - Adam B. Levine's podcast]
** [https://www.reddit.com/r/letstalkbitcoin/ Let's talk bitcoin subreddit]
* [http://www.jupiterbroadcasting.com/show/planb Plan B - Juniper Broadcasting weekly bitcoin show]
** [https://www.youtube.com/user/jupiterbroadcasting/ Juniper Broadcasting youtube channel]
** [https://www.reddit.com/r/planbshow/ Plan B show subreddit]
* [http://www.thebitcoinchannel.com Bitcoin Channel - Bitcoin report and other videos/webcasts]
** [https://www.youtube.com/user/BitcoinChannel Bitcoin Channel on youtube]
* [http://bit-media.org/ Bit-media Bitcoin News]
** [https://www.youtube.com/channel/UCE1Y1LP64040veaEbdIYKYw Bit-media youtube Channel]
** [https://www.facebook.com/bitmediacommunity/ Bit-media Facebook Page]

== Language/Region Specific ==
* [https://bitcointalk.org/#5 Local Forums], including at this time:
** [https://bitcointalk.org/index.php?board=241.0 العربية (Arabic)]
** [https://bitcointalk.org/index.php?board=191.0 Bahasa Indonesia (Indonesian)]
** [https://bitcointalk.org/index.php?board=27.0 Español (Spanish)]
** [https://bitcointalk.org/index.php?board=30.0 中文 (Chinese)]
** [https://bitcointalk.org/index.php?board=201.0 Hrvatski (Croatian)]
** [https://bitcointalk.org/index.php?board=16.0 Deutsch (German)]
** [https://bitcointalk.org/index.php?board=120.0 Ελληνικά (Greek)]
** [https://bitcointalk.org/index.php?board=95.0 עברית (Hebrew)]
** [https://bitcointalk.org/index.php?board=13.0 Français]
** [https://bitcointalk.org/index.php?board=89.0 India]
** [https://bitcointalk.org/index.php?board=28.0 Italiano (Italian)]
** [https://bitcointalk.org/index.php?board=79.0 Nederlands (Dutch)]
** [https://bitcointalk.org/index.php?board=82.0 한국어 (Korean)]
** [https://bitcointalk.org/index.php?board=219.0 Philippines]
** [https://bitcointalk.org/index.php?board=142.0 Polski]
** [https://bitcointalk.org/index.php?board=29.0 Português (Portuguese)]
** [https://bitcointalk.org/index.php?board=10.0 Русский (Russian)]
** [https://bitcointalk.org/index.php?board=108.0 Română (Romanian)]
** [https://bitcointalk.org/index.php?board=45.0 Skandinavisk]
** [https://bitcointalk.org/index.php?board=133.0 Türkçe (Turkish)]
** [https://bitcointalk.org/index.php?board=11.0 Other languages/locations]
* [https://www.reddit.com/r/Bitcoin/wiki/local_communities List of Reddit local communities]
* [http://www.bitcoins.co.ke Nairobi, Kenya and Africa Bitcoin community forum]
* [https://www.coinforum.ca Canada's Bitcoin forum]
* [https://www.bitcoin-italia.org Italian Bitcoin community forum]
* [http://bitcoin.pl/forum/ Polish Bitcoin community forum]
* [https://forum.btcsec.com/ BTCsec.com Bitcoin community forum (Russian)]
* [http://bitcoincenterkorea.org Bitcoin Center Korea]
* [http://seoulbitcoin.org Seoul Bitcoin]
* [http://bitcoin.rs Serbian Bitcoin community forum]
* [http://www.bitcoin.si/ Slovenian bitcoin community]
* [http://www.bitcoin-tr.com/ Turkish Bitcoin community]
* [http://forum.bitcoinpenge.dk/ Danish Bitcoin community]
* [https://forum.bitcoin.co.id/ Indonesian Bitcoin Forum]

== Other ==

* [https://bitcoin.stackexchange.com Bitcoin StackExchange] - Q&A site
* The [https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev bitcoin-dev] mailing list, for “Bitcoin development and protocol discussion”
* The [https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-discuss bitcoin-discuss] mailing list, for “Technical discussion of bitcoin, beyond bitcoin-dev”
* [https://www.quora.com/topic/Bitcoin/ Quora - Bitcoin Questions and Answers]

==See Also==

* [[Bitcoin_Wiki:Community_portal]]

[[pl:Fora dyskusyjne]]

How bitcoin works

2018-02-04T07:36:33Z

MeshCollider: Reverted edits by Amandaphiffer (talk) to last revision by Flix

<center>
{| class="wikitable"
|-
| '''This article requires cleanup to meet the Bitcoin Wiki's quality standards.'''
|}
</center>

This page explains the basic framework of Bitcoin's functionality.

==Cryptography==

There are several cryptographic technologies that make up the essence of Bitcoin.

First is [http://en.wikipedia.org/wiki/Public-key_cryptography public key cryptography]. Each coin is associated with its current owner's public [[ECDSA]] key. When you send some bitcoins to someone, you create a message ([[transaction]]), attaching the new owner's public key to this amount of coins, and sign it with your private key. When this transaction is broadcast to the bitcoin network, this lets everyone know that the new owner of these coins is the owner of the new key. Your signature on the message verifies for everyone that the message is authentic. The complete history of transactions is kept by everyone, so anyone can verify who is the current owner of any particular group of coins.

This complete record of transactions is kept in the [[block chain]], which is a sequence of records called [[block|blocks]]. All computers in the network have a copy of the block chain, which they keep updated by passing along new blocks to each other. Each block contains a group of transactions that have been sent since the previous block. In order to preserve the integrity of the block chain, each block in the chain confirms the integrity of the previous one, all the way back to the first one, the [[genesis block]]. Record insertion is costly because each block must meet certain requirements that make it [[difficulty|difficult]] to generate a valid block. This way, no party can overwrite previous records by just forking the chain.

To make generating bitcoins difficult the [http://en.wikipedia.org/wiki/Hashcash Hashcash] cost-function is used. Hashcash is the first secure efficiently verifiable cost-function or proof-of-work function. The beauty of hashcash is that is is non-interactive and has no secret keys that have to be managed by a central server or relying party; hashcash is as a result fully distributed and infinitely scalable. (Hashcash uses symmetric key cryptogaphy, namely a one-way hashcash function - typically either SHA1 or SHA-256).

In bitcoin, integrity, block-chaining, and the hashcash cost-function all use [http://en.wikipedia.org/wiki/SHA-2 SHA256] as the underlying [http://en.wikipedia.org/wiki/Cryptographic_hash_function cryptographic hash function].

A cryptographic hash function essentially takes input data which can be of practically any size, and transforms it, in an effectively-impossible to reverse or to predict way, into a relatively compact string (in the case of SHA-256 the hash is 32 bytes). Making the slightest change to the input data changes its hash unpredictably, so nobody can create a different block of data that gives exactly the same hash. Therefore, by being given a compact hash, you can confirm that it matches only a particular input datum, and in bitcoin the input data being a block-chain is significantly larger than the SHA-256 hash. This way, Bitcoin blocks don't have to contain serial numbers, as blocks can be identified by their hash, which serves the dual purpose of identification as well as integrity verification. An identification string that also provides its own integrity is called a self-certifying identifier.

The hashcash [[difficulty]] factor is achieved by requiring that the hash output has a number of leading zeros. Technically, to allow more fine-grained control than Hashcash number of leading 0-bits method, Bitcoin extends the hashcash solution definition by treating the hash as a large big-endian integer, and checking that the integer is below a certain threshold. The hashcash cost-function iterates by perturbing data in the block by a [[nonce]] value, until the data in the block hashes to produce an integer below the threshold - which takes a lot of processing power. This low hash value for the block serves as an easily-verifiable [[proof of work]] - every node on the network can instantly verify that the block meets the required criteria.

With this framework, we are able to achieve the essential functions of the Bitcoin system. We have verifiable ownership of bitcoins, and a distributed database of all transactions, which prevents [[#Double_spending|double spending]].

==Bitcoin [[Mining]]==

We have mentioned in the previous section that adding a block to the block chain is difficult, requiring time and processing power to accomplish. The incentive to put forth this time and electricity is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks.) Second, any [[transaction fees]] that may be present in the transactions included in the block, get claimed by the block producer.

This gives rise to the activity known as "Bitcoin [[Mining|mining]]" - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the [[difficulty]] is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).

Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. See [[Controlled Currency Supply]]. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating [[block]]s in the [[block chain]].

==Double spending==

The [[block chain]] is a common ledger shared by all Bitcoin nodes which details the owner of each bitcoin, or fraction thereof. Unlike conventional banking systems, there is no central place where this ledger of transactions is stored. This is accomplished through the broadcasting of small pieces ("blocks"), each stating that it is a continuation of a previous block. It is possible for the block chain to split; that is, it is possible for two blocks to both point to the same parent block and contain some, but not all, of the same transactions. When this happens, each computer in the network must decide for itself which branch is the "correct" one that should be accepted and extended further.

The rule in this case is to accept the "longest" valid branch. Choose from the branches of blocks that you have received, the path, the total "difficulty" of which is the highest. This is the sequence of blocks that is assumed to have required the most work (CPU time) to generate. For Bitcoin, this will be the "true" order of events, and this is what it will take into account when calculating the balance to show to the user.

It is still possible that, as new blocks are constantly being generated, at some later time, some other branch will become the longest branch. However, it takes significant effort to extend a branch, and nodes work to extend the branch that they have received and accepted (which is normally the longest one). So, the longer this branch becomes compared to the second-longest branch, the more effort it will take for the second-longest branch to catch up and overcome the first in length. Also, the more nodes in the network hear about the longest branch, the more unlikely it becomes for other branches to be extended the next time a block is generated, since the nodes will accept the longest chain.

Therefore, the more time a transaction has been part of the longest block chain, the more likely it is to remain part of the chain indefinitely. This is what makes transactions non-reversible and this is what prevents people from [[double-spending]] their coins. What the receiver of each transaction does, after money has been supposedly transferred to him/her is to check how long the block chain following the said transaction has become, because the more blocks are added to the longest branch after the transaction, the less likely is it that some other branch will overcome it.

When the block chain after the transaction has become long enough, it becomes near-impossible for another branch to overcome it, and so people can start accepting the transaction as true. This is why 'blocks' also serve as 'confirmations' for a transaction. Even if another branch does overcome the one with the transaction, most of the blocks will have been generated by people who have no affiliation with the sender of the coins, as a large number of people are working to generate blocks. Since transactions are broadcasted to all nodes in the network, these blocks are just as likely to contain the transaction as the blocks in the previously-accepted branch.

Bitcoin relies on the fact that no single entity can control most of the CPU power on the network for any significant length of time, since, if they could, they would be able to extend any branch of the tree they chose, and faster than any other branch can be extended, making it the longest branch, and then permanently controlling which transactions appear in it.

==See also==

* [[Introduction]]
* [[Getting started]]
* [[Using Bitcoin]]
* Bitcoin [[FAQ]]
* [[Double-spending]]
* [[Prohibited changes]]

==External Links==

* http://bitcointalk.org/index.php?topic=2487.0 A forum thread with some good 'for-the-layperson' explanations of how bitcoin works.

[[Category:Introduction]]

Main Page

2018-02-04T07:36:16Z

MeshCollider: Reverted edits by Amandaphiffer (talk) to last revision by Nullius

{| id="mp-topbanner" style="width:100%; background:#f6f6f6; margin-top:1.2em; border:1px solid #ddd;"
| style="width:61%; color:#000;" |

{| style="width:100%; border:none; background:none;"
| style="text-align:center; white-space:nowrap; color:#000;" |
<div style="font-size:162%; border:none; margin:0; padding:.1em; color:#000;">Welcome to the [[Bitcoin]] Wiki,</div>
<div style="top:+0.2em; font-size:95%;">for all your Bitcoin information needs.</div>
<div id="articlecount" style="width:100%; text-align:center; font-size:85%;">[[Special:Statistics|{{NUMBEROFARTICLES}}]] pages. Established April 14, 2010.</div>
'''This wiki is maintained by the Bitcoin community.'''
|}

| style="width:39%;" |<center>{{ERN}}</center>
{| style="width:100%; border:none; background:none; font-size:120%; font-weight: bold; font-family: 'Ubuntu', sans-serif; text-align: center;"
|<span class="plainlinks">[https://bitcoin.org/ Bitcoin.org]</span>
|<span class="plainlinks">[[Forums]]</span>
|<span class="plainlinks">[[IRC channels|Chatrooms]]</span>
|}
|}


{| id="mp-upper" style="width: 100%; margin:6px 0 0 0; background:none; border-spacing: 0px;"
| class="MainPageBG" style="width:55%; border:1px solid #cef2e0; background:#f6e5f1; vertical-align:top; color:#000;" |
{| id="mp-left" style="vertical-align:top; background:#f6e5f1;"
! style="padding:2px;" | <h2 id="mp-tfa-h2" style="margin:3px; background:#e9caef; font-size:120%; font-weight:bold; border:1px solid #a3bfb1; text-align:left; color:#000; padding:0.2em 0.4em;">Bitcoin</h2>
|-
| style="color:#000;" | <div id="mp-tfa" style="padding:2px 5px">{{MainPage_Intro}}</div>
|-
! style="padding:2px" | <h2 id="mp-dyk-h2" style="margin:3px; background:#e9caef; font-size:120%; font-weight:bold; border:1px solid #a3bfb1; text-align:left; color:#000; padding:0.2em 0.4em;">Why?</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-dyk">{{MainPage_Reasons}}</div>
|}
| style="border:1px solid transparent;" |

| class="MainPageBG" style="width:45%; border:1px solid #cedff2; background:#f6e5f1; vertical-align:top;"|
{| id="mp-right" style="width:100%; vertical-align:top; background:#f6e5f1;"
! style="padding:2px" | <h2 id="mp-otd-h2" style="margin:3px; background:#efc1e2; font-size:120%; font-weight:bold; border:1px solid #a3b0bf; text-align:left; color:#000; padding:0.2em 0.4em;">Topic central</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-otd">{{MainPage_Topics}}</div>
|-
! style="padding:2px" | <h2 id="mp-otd-h2" style="margin:3px; background:#efc1e2; font-size:120%; font-weight:bold; border:1px solid #a3b0bf; text-align:left; color:#000; padding:0.2em 0.4em;">FAQ</h2>
|-
| style="color:#000;padding:2px 5px 5px" | <div id="mp-otd">{{MainPage_FAQ}}</div>
|}
|}

== Other pages ==

* '''[[mw:Help:Formatting|Help]]''' - Documentation on wiki editing.
* '''[[BW:About|About]]''' - Information on this site.
* '''[http://dump.bitcoin.it/ Dumps]''' - Backup this wiki.
</noinclude>__NOTOC____NOEDITSECTION__

Testnet

2018-02-03T20:14:15Z

MeshCollider:

The '''testnet''' is an alternative Bitcoin [[block chain]], to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain.

Run bitcoin or bitcoind with the -testnet flag to use the testnet (or put testnet=1 in the bitcoin.conf file).

There have been three generations of testnet. Testnet2 was just the first testnet reset with a different genesis block, because people were starting to trade testnet coins for real money. '''Testnet3''' is the current test network. It was introduced with the 0.7 release, introduced a third genesis block, a new rule to avoid the "difficulty was too high, is now too low, and transactions take too long to verify" problem, and contains blocks with edge-case transactions designed to test implementation compatibility. On the December 21 of 2015 SegNet was deployed, to test the Wuille's Segregated Witness proposal.

==Differences==
* Default Bitcoin network protocol listen port is 18333 (instead of 8333)
* Default RPC connection port is 18332 (instead of 8332)
* Bootstrapping uses different DNS seeds.
* A different value of ADDRESSVERSION field ensures no testnet Bitcoin addresses will work on the production network. (0x6F rather than 0x00)
* The protocol message header bytes are 0x0B110907 (instead of 0xF9BEB4D9)
* Minimum [[difficulty]] of 1.0 on testnet is equal to difficulty of 0.5 on mainnet. This means that the mainnet-equivalent of any testnet difficulty is half the testnet difficulty. In addition, if no block has been found in 20 minutes, the difficulty automatically resets back to the minimum for a single block, after which it returns to its previous value.
* A new genesis block
* The IsStandard() check is disabled so that non-standard transactions can be experimented with.

==Genesis Block==

Testnet uses a different genesis block to the main network. You can find it [https://www.biteasy.com/testnet/blocks/000000000933ea01ad0ee984209779baaec3ced90fa3f408719526f8d77f4943 here] or [http://blockexplorer.com/testnet/b/0 here].
The testnet was [https://github.com/gavinandresen/bitcoin-git/commit/feeb761ba07af74a7cd78b8c8f7c2a961fd9ea1c reset with a new genesis block] for the 0.7 bitcoin release.

==Size==
Testnet receives less transactions than the main block chain and is typically much smaller in size. As of January 2018 the size of the data on disk was 14GB, containing data for about 6 years worth of testnet activity. Downloading this data required about 12GB of network activity peaking at 2MB/s rate of transfer.

==Mining==
[[solo.ckpool]] has a testnet bitcoin solo mining implementation available, without the need to set up bitcoind locally.

==External links==

* [https://bitcointalk.org/?topic=4483.0 Testnet in a box forum topic]
* [https://sourceforge.net/projects/bitcoin/files/Bitcoin/testnet-in-a-box/ Testnet-In-A-Box self-contained testnet]
* [https://github.com/freewil/bitcoin-testnet-box Forked/Updated testnet-box]

===Wallets===

Online testnet wallets to help you test your application.

* [http://testnetwallet.com/ TestnetWallet.com]
* [https://CoPay.io/ CoPay.io] wallet supports TestNet accounts

===Faucets===

Once you're done with your test coins, it is a nice gesture to send them back to the faucets, so they become available to other developers.

* [http://bitcoinfaucet.uo1.net/ UO1 Testnet Faucet]
* [http://tpfaucet.appspot.com/ TP's TestNet Faucet]
* [http://kuttler.eu/bitcoin/btc/faucet/ nkuttler's Bitcoin Testnet Faucet], transactions are made through Joinmarket, a [[CoinJoin]] implementation
* [https://testnet.manu.backend.hamburg/faucet flyingkiwi's TestNet Faucet]
* [https://play.google.com/store/apps/details?id=com.mycelium.testnetwallet Mycelium Testnet Wallet for Android with integrated Testnet "faucet" function (Local Trader)]

Offline (2016-08-07):

* [http://faucet.luis.im/ luis.im Mojocoin Testnet3 Faucet]
* [https://accounts.blockcypher.com/testnet-faucet BlockCypher Testnet Faucet], also provided as a [http://dev.blockcypher.com/#faucets Testnet faucet API] for test automation

===Block explorers===
* [https://www.biteasy.com/testnet/blocks Biteasy.com Testnet Blockexplorer]
* [http://testnet.blockchain.info Blockchain.info Testnet Explorer]
* [http://tbtc.blockr.io/ Bitcoin Testnet on Blockr.io]
* [https://test-insight.bitpay.com/ Bitcoin Testnet on insight.bitpay.com]
* [https://www.blocktrail.com/tBTC BlockTrail Testnet Explorer, Testnet API and Testnet Faucet]
* [https://live.blockcypher.com/btc-testnet/ BlockCypher Testnet Explorer]
[[Category:Technical]]
[[Category:Developer]]

{{Bitcoin Core documentation}}

Mixing service

2018-01-24T22:11:09Z

MeshCollider: Reverted edits by NellieMarshal29 (talk) to last revision by Mixer55

Transaction accelerator

2018-01-21T10:16:15Z

MeshCollider: A number of users have reported this site as not-working/scam on bitcointalk so it has been removed. Do not add it back.

=What to Do if Your Bitcoin Transaction Gets "Stuck"=

The number of transactions on the Bitcoin network has steadily increased over the years. This means more blocks are filling up. And as not all transactions can be included in the blockchain straight away, backlogs form in miners’ “mempools” (a sort of “transaction queue.”)

Miners typically pick the transactions that pay the most fees and include these in their blocks first. Transactions that include lower fees are “outbid” on the so called “fee market,” and remain in miners’ mempools until a new block is found. If the transaction is outbid again, it has to wait until the next block.

This can lead to a suboptimal user experience. Transactions with too low a fee can take hours or even days to confirm, and sometimes never confirm at all.

But there are PAID and Free bitcoin transaction acceleration services available now which you can use to keep your own transaction from getting stuck.

==Bitcoin transaction accelerators==

* https://pushtx.btc.com: This service is provided by BTC.com in cooperation with several main mining pools. The fee was around 70 USD on December 20, 2017 and the transaction was confirmed within 3 hours. You can pay by BCH or country-specific methods and they estimate the fee based on the transaction size. They promise a chance of 75% for including transactions in the next block within one hour. Within 4 hours the chance is claimed to be at 98%. They guarantee that if the transaction isn’t confirmed in 12 hours, the fees will be fully refunded to your card within 10 ~ 15 days. This policy is not applicable to the transactions which are removed or double-spent during the acceleration process.

* [https://pool.viabtc.com/tools/txaccelerator/ ViaBTC] - overloaded as of December 20, 2017. ViaBTC implemented this service to protest against the prior 1MB limitation of the Bitcoin network. ViaBTC gives priority to user-submitted transactions for the next mined blocks by the ViaBTC pool. The only requirement is the transaction must include a minimum fee of 0.0001BTC/KB.The free-to-use nature of the service may have made it widely popular as every hour, the number of transaction requested reaches its limit and it is common to be presented with the message “Submissions are beyond limit. Please try later.” on the top middle of the page. This means one must wait for the next block to try a new submission. After submitting a transaction, there is a wait for the next block to be mined by ViaBTC Pool.

* https://Confirmtx.com: The service asks for payment but there's no button to pay. Old note: "Warning This website turned into a big scam."

Talk:Lightweight node

2018-01-14T20:38:45Z

MeshCollider: Created page with "Thanks for creating this page, but it looks like it should just be a redirect to https://en.bitcoin.it/w/index.php?title=Scalability&redirect=no#Simplified_payment_verificatio..."

Thanks for creating this page, but it looks like it should just be a redirect to https://en.bitcoin.it/w/index.php?title=Scalability&redirect=no#Simplified_payment_verification
- Mesh

Transaction accelerator

2018-01-12T00:52:35Z

MeshCollider: Please keep the style informative rather than promotional

User:BitLendingClub

2018-01-10T00:07:36Z

MeshCollider: replacing duplicated content with redirect

#redirect [[BitLendingClub]]

IP address

2018-01-10T00:01:38Z

MeshCollider: Redirected page to IP transaction

#REDIRECT [[IP transaction]]

Ip address

2018-01-10T00:01:32Z

MeshCollider: Redirected page to IP transaction

#REDIRECT [[IP transaction]]

Easy Intro

2018-01-10T00:00:52Z

MeshCollider: Redirected page to Help:Introduction

#REDIRECT [[Help:Introduction]]

Easy intro

2018-01-10T00:00:47Z

MeshCollider: Redirected page to Help:Introduction

#REDIRECT [[Help:Introduction]]

Dot-bit

2018-01-10T00:00:26Z

MeshCollider: Redirected page to BitDNS

#REDIRECT [[BitDNS]]

Namecoin

2018-01-10T00:00:23Z

MeshCollider: Redirected page to BitDNS

#redirect [[BitDNS]]

White paper

2018-01-09T23:59:59Z

MeshCollider: Redirected page to Bitcoin whitepaper

#REDIRECT [[Bitcoin whitepaper]]

Bitcoin pdf

2018-01-09T23:59:51Z

MeshCollider: Redirected page to Bitcoin whitepaper

#REDIRECT [[Bitcoin whitepaper]]

SatoshiDICE

2018-01-09T23:59:10Z

MeshCollider: Redirected page to Satoshi Dice

#REDIRECT [[Satoshi Dice]]

Satoshi dice

2018-01-09T23:59:07Z

MeshCollider: Redirected page to Satoshi Dice

#REDIRECT [[Satoshi Dice]]

Goxxed

2018-01-09T23:58:00Z

MeshCollider: MeshCollider moved page Category:Goxxed to Goxxed without leaving a redirect

Goxxed is a loose slang term started in the Bitcoin community. It is a derogatory term and references [[Mt. Gox]]. In February 2014, the once largest Bitcoin Exchange in the world, Mt. Gox went offline and filed bankruptcy proceedings thereafter. However before that event they had removed bitcoin withdrawals from their platform. This event happened roughly 9 months following their Fiat Withdrawals being frozen. Many members of the Bitcoin Community lost trust and favor with Mt. Gox after those actions, and many members resorted to selling their 'Gox Coins' for reduced value in efforts to retrieve liquidity that was locked in the site) This category has been created to assign all to all BTC companies that have been shut down, filed for bankruptcy or no longer continue operations.

[[Category:Mt._Gox]]

Design of Cryptocurrency for a Sovereign Nation

2018-01-09T23:56:18Z

MeshCollider: MeshCollider moved page Design of Cyrptocurrency for a Sovereign Nation to Design of Cryptocurrency for a Sovereign Nation without leaving a redirect: spelling mistake

== Design of Cryptocurrency for a Sovereign Nation, to replace paper and coin currency ==
<br/>
[[File:Cryptocurrency by a sovereign (2).jpg|thumbnail|Eradicator of Underground Economy]]
[[File:Https://commons.wikimedia.org/wiki/File:Cryptocurrency - The Eradicator of Underground Economy (final).pdf|thumbnail|Design of Cryptocurrency for use by Sovereign Nation (PDF)]]
'''Preface'''<br />

This article assumes basic familiarity with the foundational concepts surrounding cryptocurrencies including distributed ledger, blockchain, and the bitcoin protocol. Readers without such background will still be able to follow the proposed design considerations for cryptocurrency and the underlying advantages of cryptocurrency that has the potential to make it a very powerful weapon in the fight to eradicate underground economy (e.g., illicit trade, donations to illegal organizations, counterfeit, evasion of income and sales taxes). Despite its rather provocative title, the focus of this article is more on the design considerations for the rollout of cryptocurrency for a progressive sovereign (as this might prompt relevant authorities, specifically the central bank of the nation, to start engaging on such an initiative) and not as much on eradicating black market transactions (as those are self-realized once cryptocurrency becomes the dominant currency of the land)

'''Introduction'''<br />

Although the notion of a sovereign nation adopting a cryptocurrency might be decades away, with recent innovations involving blockchain and Bitcoin, that notion has very much entered the realm of possibility. As most of the currency we deal with currently is already digital, it is easy to confuse digital with cryptocurrency, but the distinction is that digital currency doesn’t lend itself to be exchanged without a trusted intermediary (e.g., bank, credit card company) whereas cryptocurrency acts like digital currency that can be exchanged at a distance (e.g., online) without a trusted intermediary. In essence, cryptocurrency will feel and act like real cash with the exception that it will be available only in virtual/ digital form and every monetary transaction will be stored in the national blockchain/ distributed ledger. If the ability to send money to anonymous digital wallets has led to its notoriety (e.g., illicit trade and donations), then its innate feature of recording every single transaction in the blockchain could form the basis for its redemption by making it a powerful weapon in the war to eradicate underground economy (as underground economy/ black markets can’t thrive under such a transparent monetary regime).

''Setting the stage for alternate currencies''<br/>
It took around 500 years of back and forth for democracy to establish a stable footing in the ancient Greek society. The very first instance of democracy took shape when Cleisthenes got tired of the power struggle cycle, starting with monarch coming to power only to be dethroned or murdered leading to a power struggle before the cycle started all over again, and decided to share some of the decision making powers with the nobles (who had lots of free time at their disposal and hence ended up creating trouble) so that they became part of the solution rather than being part of the problem. Prior to this governance innovation, it must’ve seemed like there is a “natural monopoly” on governing power to be vested with a single individual/ monarch, as there were no examples around (in animal kingdom, including animal herds, ants, or bees) to indicate that any form of “shared” governance is even possible. With the successful rollout of democracy, humanity may have done a one-up on evolution itself. Despite such earlier constraints, most of our world now firmly believes in the ability of democracy to lead to a stable form of government.

Very similar to that, looking around the world now, it looks like there is a “natural monopoly” with governments controlling the monetary policy (including supply of money and setting interest rates). Although that may currently be the case, there is a case to be made for treating money as any other commodity and having it be managed by private sector where by its quality and innovation are constantly tempered and improved by market forces and competition (F. A. Hayek makes a strong case for this in “Denationalization of money” and Walter Bagehot comes very close to recommending that in his well known “Lombard Street”). Although every country in the contemporary world has currency that is managed by its government (or rely on foreign government managed currency such as US dollar or Euro, as the national currency, as done in Ecuador), it wasn’t such a homogenous monetary structure before the 20th century. Counter examples include the private monetary system of Scotland that flourished for over a century (1717-1844, prior to Peel’s Act), New England in US (1820-1860), Canada (1817-1914), and episodes of competitive provision of banknotes in Sweden, Switzerland, France, Ireland, Spain, parts of China, and Australia (for further reading on this topic: “Competing Money Supplies” by Lawrence White).
The monetary system of Scotland between 1717 to 1844 is an interesting case to delve a bit more in detail both from the point of how it worked and the impact it had on the Scottish economy (coinciding with the invention of steam engine and the Industrial Revolution). To begin with, Scotland didn’t end up with a competitive and unregulated monetary system due to some grand design or a conscious decision by the government, rather it was sheer neglect (driven by ideological reasons) on the part of England that led to the genesis of a self regulated banking system in Scotland.

The starting point was the chartering of the second bank in Scotland, Royal Bank of Scotland in 1727, that started competing with its older rival, the Bank of Scotland which was created in 1695 by an Act of the Scottish Parliament (one year after the creation of the Bank of England) by issuing its own notes. The Bank of Scotland, despite its official sounding title, was intended to be a commercial bank to provide loans to merchants, noblemen, and to discount commercial bills. The Act of 1695, granted the Bank of Scotland a legal monopoly on banking and right of note issue for 21 years, which the Bank did not make any effort to renew when it lapsed in 1716 as it didn’t believe that the market was big enough to support more than one bank. The Bank of Scotland was unique among European banks at that time, as it was not a state institution and the Act specifically prohibited its lending to the government, under heavy penalty. After the union of the parliaments of England and Scotland in 1707 (with the crowns of the two countries joining in 1603), there was no government of Scotland to meddle with Scottish banking and the British parliament turned a blind eye to the Bank of Scotland’s petitions (as it was perceived to be disloyal with its Jacobite leanings) to stop the chartering of its first rival, the Royal Bank of Scotland in 1727. It was this unique set of circumstances that led to free banking in Scotland. Driven by lack of regulation and free markets, by 1845 there were 19 Chartered banks with with rights to issue notes along side many more provincial and non-issuing banks.

The specie (that the bank notes could be redeemed for) for the Scottish notes was the Bank of England bills in the beginning and later on it was expanded to include Government obligations (similar to current US treasury bills), Bank of England stock, and East India Company stock. In order to promote broader adoption of their own notes, each bank began accepting other banks’ notes, and the need to reduce third party bank risk led to the very first banknotes clearing house so that notes can be netted and settled on a daily basis. Other benefits from the Scottish free banking experiment include interest bearing checking accounts where money can be withdrawn on demand, overdraft accounts (similar to line of credit, in current times), unparalleled economic prosperity, and monetary stability. Despite a few bank failures (e.g., Ayr Bank in 1772) no depositors lost any money because of unlimited bank shareholder liability (this meant that the bank founders and shareholders’ personal assets will be leveraged to pay off debts in the case of bank failure - which is sorely lacking from the current banking system across the world). All these positive outcomes, prompted David Hume, the famous Scottish philosopher, to praise the system “as one of the most ingenious ideas that has been executed in commerce”.

The Scottish system provides a strong basis to make a case for alternate forms of currencies (like the privately issued Scottish Bank Notes) to coexist along with the Bank of England bills (which were in limited circulation in Scotland during that time). The current advent of cryptocurrencies in US (the most popular being Bitcoin) provides a more contemporary example for the demand for as well coexistence of alternate currencies (although at the outset the demand might have been fueled by folks that were looking to trade in illegal paraphernalia or in transferring money to illegal organizations).

''Currency features required to meet the needs of central bank(s)''<br/>
The purpose of this article is not to make a case for free banking or even private currencies (as that may be too much to expect from any of the governments), rather to provide a starting point for a small and enterprising sovereign or island nation to consider replacing its paper/ physical currency with cryptocurrency. If that is perceived as too risky a move, then the sovereign can roll out an alternate currency (managed by the government) that will be in circulation alongside existing paper/ coin currency. It may be quite a few decades before such an experiment might be taken up, but in the meantime it is an interesting thought experiment to consider the various issues that future designers will have to take into account as they develop the cryptocurrency that addresses all the needs of a sovereign nation (to eventually replace its paper currency).

To even be considered for such a monumental responsibility and be accepted by any central bank, cryptocurrencies need to provide the same flexibility and control that paper currencies currently offer. Below is a summary highlighting the key mandates that different central banks are charged with:
US Federal Reserve System (the Fed): Long-term price stability and sustainable growth
European Central Bank (ECB): Long-term price stability and sustainable growth, with annual inflation target below 2% and preventing excess strength in its currency
* '''Bank of England (BoE)''': Maintain annual inflation at 2% (intervene when prices are below or above that level)
* '''Bank of Japan (BoJ)''': Price stability and stability of the financial system
* '''Swiss National Bank (SNB)''': Ensure price stability while taking the economic situation into account
* '''Bank of Canada (BoC)''': Maintaining the integrity and value of the currency and inflation target of 1-3%
* '''Reserve Bank of Australia (RBA)''': Stability of currency, maintain full employment, ensure economic prosperity and welfare of the people. Inflation target of 2-3%
* '''Reserve Bank of New Zealand (RBNZ)''': To maintain price stability, avoid instability in output, interest rates, and exchange rates. Inflation target of 1.5%
* '''Monetary Authority of Singapore (MAS)''': Maintain Singapore's exchange rate (against a basket of currencies), foreign reserves and liquidity in the banking sector

In order to achieve the mandate of either price stability and/ or manage foreign exchange rates, any central bank needs to have the ability to perform the following core actions:
# Increase (or decrease) total stock of money/ monetary base (M0 or MB)
# Increase or decrease money supply (M2)
# Conduct foreign exchange transactions
# Ensure smooth functioning of payments

'''1) Increase (or decrease) total stock of money/ monetary base (M0 or MB)'''<br/>
If one were to consider monetary base (MB) in the context of US, the quantity of MB has changed only in one direction (has gone up) over the the past 70 years (US $31 billion in 1955 to $1.4 trillion as of September 2015)

[[File:Fed - Value of currency and coins.jpg|700x900px|frameless|center|Change in US Monetary Base (MB) over the past 60 years]]

Given that trend, it is safe to assume that MB will only be increased and not decreased, which means that the designers of the cryptocurrency need only concern themselves with providing the ability to increase cryptocoins (and not burden the design with the complexity associated with building the capability to decrease MB, as that feature will likely never be used). Those cryptocoins can be backed by government obligations of the sovereign (for example, in US, the MB is backed by US treasury bills). To enable central banks to increase MB, the cryptocurrency needs to have the capability to grow the total amount of currency as required, unlike Bitcoin where the total amount of currency is fixed at 21 million bitcoins.

''The total amount of currency in the Bitcoin protocol is fixed as doing so offers distinct advantages'':<br/>
* No hacker can introduce or takeaway currency (this makes sense as there is no central authority to regulate the currency)
* Every single bitcoin will have its full history (including its creation that is done programmatically and not due to an external input/ decision) stored within the blockchain, which ensures all the required information for the check/ validation for double spend is available within the blockchain

Despite those advantages, such an immutable approach to cryptocurrency design for a sovereign will not work, as the central bank will require the flexibility to increase MB as the downside to fixed currency base is the unavoidable deflationary cycle that will not be acceptable to the citizens of the sovereign. Similar to genesis block in bitcoin (where the blockchain is kicked off with 50 bitcoins), the central authority (identified by its digital certificate) will be allowed to create new batch of cryptocoins as required. Given that requirement, the designers will have to address the resultant scenario whereby hackers/ attackers cannot create havoc by stealing the central bank’s identity (digital certificates). One design approach for dealing with such a scenario is to put in place the following constraints before new cryptocoins can be created:
* They can be created only once a year - seemingly restrictive, this design constraint should work for any central bank as they won’t need to increase monetary base more often than that
* They can only be created within a specified window of 1 week (e.g., first of March) - this will ensure that all the computer nodes working on the blockchain can be programmed to accommodate/ expect increase in coins while at the same time relegating the hackers to attempt breaking-in during that small window of time each year
* As soon as the request for increase in coins is placed into the blockchain by the central bank digital notification (e.g., email) will be generated and sent to the Central Bank and other independent government departments (e.g., the Treasury)
* The creation of the coins to be considered complete only after those coins are sent to the wallet of Treasury (with its own digital credentials). Once validated, the treasury department has to send those coins back to the central bank after 72 hours, at which point the new coins will be formally added to the blockchain

The first two steps restrict the attackers by minimizing the time available for them to break in. The last two steps in combination should make it virtually impossible for the hackers to succeed. In order for the hackers to be successful, they not only will have to steal the digital certificates of the central bank but also those of the treasury and if they succeed in doing both, they will have to create the coins and wait for 72 hours (and this wait could be longer, if designers deem it necessary to have a longer time to react) after both the central bank and the treasury have been notified of such an attempt (per step 3, from above).

These checks will be implemented and enforced in the programming code for the cryptocurrency that will be rolled out to all the participating computer nodes of the blockchain network that will be performing the required “proof-of-work”, earning transaction fees for successfully creating the cryptocurrency transaction blocks.

'''2) Increase or decrease money supply (M2)'''<br/>
Increasing the money supply (M2) with cryptocurrencies will be very similar to the situation with paper currency. Typical levers include:
* Increasing monetary base/ MB (covered in the previous section)
* Changing the reserve ratio for bank deposits (banks for cryptocurrencies will work very similar to the current ones, with the exception that depositors can directly send money to others without involving the bank while at the same time having the option of writing a check, to mitigate underlying third party risk)
* Selling or buying government bonds (e.g., US treasury bills) by the central bank - this activity will be conducted very similar to how it is handed with paper currency (with money debited from the buyer of the bonds and credited to the seller of the bonds) except that digital wallets of both the parties will be involved rather than their bank accounts (e.g., in US, they are the accounts of the broker-dealers with the Fed)
* Changing the benchmark central bank interest rate (e.g., Fed funds rate) - the mechanism for enforcing this action will stay unchanged as the interest rate is independent of the underlying currency type

'''3) Foreign exchange (Forex) transactions'''<br/>
In order for Forex transactions to work with cryptocurrencies, every interested foreign party will need to have a digital wallet which will be used to trade the sovereign's cryptocurrency in exchange for other foreign currencies (e.g., US dollars, GBP). Apart from that, no special treatment should be required for handling cryptocurrencies in Forex transactions, as the Forex transactions will simply be conducted via the digital wallets of the parties involved instead of their bank/ brokerage accounts in the current setting.

'''4) Smooth functioning of payments'''<br/>
Cryptocurrencies’ raison d'etre is to enable peer to peer payments without the involvement of any third party. Cryptocurrency protocol was born to take the business of payments on to the next level. With the rollout of cryptocurrency as the default currency for a sovereign, below is a summary view of how the payments landscape is likely to change:
* Cash & Coins - replaced by cryptocoins
* Checks - these will become optional for in-country use (to mitigate third party delivery risk) and might be required for sending money to out-of-country parties. Cryptocurrency banks will provide this service as an add-on
* Automated Clearing House (ACH) - will no longer be needed as banks can settle net payments bilaterally using their digital wallets
* Credit cards - requires a bit more clarification on how they are likely to evolve
* Credit card design will change a bit in the context of cryptocurrency. It has to do with the structuring of the credit line that credit cards offer. In a cryptocurrency economy, the digital wallet will itself serve as the credit card in terms of facilitating payments, with credit line aspect of the credit card likely to be addressed via a loan made out to an individual’s wallet by the credit card company. The precise mechanics of the implementation will be left to the credit card company (e.g., if a card has a credit limit of $10,000, the credit card company will issue the loan amount on demand just before the cardholder is about to make a payment, so that he/ she is charged interest only on the amount of credit purchases and not on the entire amount of credit line)

'''Additional tweaks to the existing cryptocurrency protocol'''<br/>
Apart from meeting the requirements of the central bank, the designers might want to tweak the current cryptocurrency protocol in the following key aspects:
* Store the blockchain (or distributed ledger) on a periodic basis (e.g., daily or hourly) with dedicated storage banks, so that in the case of a black swan event whereby all computer nodes in the network go bust, there is always a reasonably recent snapshot of the blockchain available from which to reconstruct the monetary world
* Collect taxes on commercial transactions (e.g., every sale would result in an automatic credit to the State or Federal treasury/ tax department which is programmed as part of individual cryptocurrency transaction). This feature could be a strong selling point for governments to adopt cryptocurrency as no transaction can go untaxed and also there will be no hiding place for “black money”/ underground economy (as every transaction is recorded in the blockchain)
* Ability to cancel a transaction after is has been sent to a wallet (e.g., by mistake)
* Legal recourse to transfer currency from one wallet to another in the case of lost private key (of an individual’s digital wallet)
* Enforce Anti Money Laundering - require each digital wallet to be registered along with the identifying information (of the individual/ commercial entity) so that every transaction can be tracked to a “known” entity. Any wallets that fail to do so will be monitored and blacklisted (e.g., any “known” wallet sending money to “unregistered” wallets will be notified and the authorities will take appropriate follow up actions)

'''Resultant efficiencies or systemic upgrades as a result of the rollout of cryptocurrency for a sovereign nation'''<br/>
* No printing/ mint operations
* No counterfeit currency - as there is no physical currency to counterfeit
* No possibility of black money - as every monetary exchange transaction is recorded in the blockchain, making it very easy for the authorities to track the flow of currency right from its genesis to the last digital wallet it was sent to
* Every commercial transaction can be taxed (sales tax) leading to increased treasure revenue
* No cash handling (e.g., armored cash transfer trucks like Brinks, coins and bills counting machines, coin packaging)
* No check processing - as cryptocurrency can exchanged readily from one wallet to the other, without an intermediary

As mentioned earlier, the intent of this article is to serve as a starting point for those that might be interested in formulating a policy paper focused on rolling out cryptocurrency for a sovereign. Although the precise requirements of the sovereign might be different, they should broadly be aligned to the central bank requirements laid out in this article. This is an evolving document incorporating input from others, so do send in your input or feedback as that will help make this document more comprehensive. Despite all the other advantages, the “killer application” that will likely tilt the scales in favor of adopting cryptocurrency is its immense potential to curb illegal activities by recording all monetary transactions in its distributed blockchain - which would be a 180 degree turn from its current predominant use of facilitating illicit trade!

'''Disclaimer'''<br/>
The opinions presented here are the author’s own personal opinion and do not in anyway reflect views of any of the organizations he is associated with

'''Bibliography'''<br/>
* W. Bagehot - Lombard Street: A Description of the Monetary Market <br />
* F. A. Hayek - Denationalization of Money: The Argument Refined<br />
* K. Wicksell - Interest & Prices<br />
* L. White - Competing Money Supplies<br />
* T. M. Humphrey - Fisher and Wicksell on the Quantity Theory<br />
* The Federal Reserve System: Purposes & Functions - http://www.federalreserve.gov/pf/pdf/pf_complete.pdf<br />
* Monetary Authority of Singapore - Singapore’s Exchange Rate Policy (2001)<br />
* Monetary Authority of Singapore - Monetary Policy Operations in Singapore (2013)<br />
* [https://www.linkedin.com/pulse/cryptocurrency-eradicator-underground-economy-uday-singh Cryptocurrency: The Eradicator of underground economy]

'''About the author'''<br/>
Uday Singh is passionate about Economics and innovative technologies for the financial industry. He has an MBA from Columbia Business School, and served at top tier firms including McKinsey & Co and Credit Suisse. Appreciates your feedback, comments, and further refinements on this topic

Bitcoin OTC

2018-01-09T23:52:33Z

MeshCollider: Redirected page to Bitcoin-OTC

#REDIRECT [[Bitcoin-OTC]]

Bitcoin-qt

2018-01-09T23:51:16Z

MeshCollider: Redirected page to Bitcoin Core

#REDIRECT [[Bitcoin Core]]

Controlled inflation

2018-01-09T23:50:53Z

MeshCollider: Redirected page to Controlled supply

#REDIRECT [[Controlled supply]]

File:BEP Process.png

2018-01-09T23:50:34Z

MeshCollider: Redirected page to File:BIP-0001-Process.png

#REDIRECT [[File:BIP-0001-Process.png]]

Tr:Main Page

2018-01-09T23:48:42Z

MeshCollider: Redirected page to Ana Sayfa

#redirect [[Ana Sayfa]]

JSON-RPC API tutorial

2018-01-09T23:47:46Z

MeshCollider: Redirected page to API reference (JSON-RPC)

#REDIRECT [[API reference (JSON-RPC)]]

User:NellieMarshal29

2018-01-04T22:25:30Z

MeshCollider:

Hi, I am Nellie.
You can write something on my discussion page..

Hi Nellie,
I've reverted your edit to the CryptoMixer.io page because it appears to be malicious, redirecting the links to non-existent or removed pages instead of the originals.
Please note if you continue to perform such edits to pages, you will lose your editting privileges. If you have a good reason for the edits, please let me know.
- MeshCollider

User talk:Mdevenport

2017-11-24T21:23:22Z

MeshCollider: Created page with "> "This page was created during many months and by multiple users so nobody has the right to just delete everything, and add only one link. This is not Wikipedia, so commercia..."

> "This page was created during many months and by multiple users so nobody has the right to just delete everything, and add only one link. This is not Wikipedia, so commercial content is not a valid explanation. Do not remove or Admins will be notified."

Hi there. The removal of all purely commercial content has been discussed for a long time now, this wiki is for information not advertising. As bitcoin adoption increases, the number of gambling sites, affiliate programs, businesses which accept bitcoin, etc. increases dramatically. We are now at the point where it is not practical to try and maintain a complete and impartial list of all such businesses, as was attempted in the past. It is a burden on users to keep them updated, so the result is that the only updates are done by the businesses themselves, as a form of advertising. To keep things impartial and clean, it is thus better to now remove all purely commercial content, leaving only that which has had a notable role in bitcoins history (such as Mt Gox). I hope you understand.

Bitcoin Slots

2017-11-20T13:40:19Z

MeshCollider: Purely commercial content removal

In the Bitcoin gambling community you can find the classic slots, powered by bitcoin and providing in the same time a provable fairness system.

Most Bitcoin dice betting sites boast of their provable fairness. With provably fair gaming in existence, you can verify both your own spins and those of anyone else at any point.

Binary options

2017-11-20T12:15:49Z

MeshCollider: Purely commercial content removal

A option is a financial contract that gives the buyer the right to buy or sell an asset for a specified price (strike price) on or before a certain date (expiration date). A '''call''' option allows the holder to buy the underlying asset on or before the date. A '''put''' option allows the holder to sell the asset for that price on or before the due date. Options are valued according to the difference between the strike price and the current market price of the underlying asset.

Options are used widely in financial markets to hedge or speculate on the price of an underlying asset with a quantified risk. Complex financial instruments can be built using combinations of buying and selling call and put options with different strike prices and expiration dates.

A '''binary option''' is a simple type of option that is valued according to a true/false statement. For example if the price of the underlying asset is above a certain level the call (long) option will pay 100, if it is below it will pay 0. For a put option the reverse is true.

Binary options make for simple valuation and are therefore a good way for traders to avoid complicated valuation, which often work in favour of option issuers to the detriment of buyers.

Binary options have become a popular way to trade major financial markets online.

==Binary Options and Bitcoin==
With the popularity of Bitcoin and its acceptance as a currency binary options platforms began adding BTC as one of the currencies to trade. This has further helped the growth of binary platforms as well as mainstream recognition of Bitcoin as a currency. Most brokers only offer it as a currency pair versus the American Dollar.

==Bitcoin Binary Option Smart Contracts==

Bitcoin allows the creation of smart contracts for binary options. The [[contract]] itself holds the funds in escrow and on expiry date pays all the funds to the Bitcoin address that was on the correct side of the true/false statement.

This allows the complete elimination of counterparty risk. The solvency of the option issuer is irrelevant if the funds are already locked in the contract itself. It is irrelevant if the company or party that issued the option disappears, defaults or wants to change the terms of the contract. The elimination of counterparty risk allows long-term financial contracts in a trust-minimized way.

Smart contracts rely on an [[oracle]] to verify external conditions.

Example:

*Alice and Bob each send 1 BTC to the contract 2-of-3 [[multisignature]] address which is controlled by private keys K1, K2, K3.
*Alice holds K1
*Bob holds K2
*[[Oracle]] holds K3.
*On expiry if condition is TRUE the [[oracle]] sends K3 to Alice. Alice withdraws 2 BTC.
*On expiry if condition is FALSE [[oracle]] sends K3 to Bob. Bob withdraws 2 BTC.

The mechanism is very similar to an [[Contract|escrow]] contract but instead of a mediator holding the third key the [[oracle]] holds it and can resolve automatically based on simple true/false conditions. Ideally to prevent it from being compromised or targeted, the [[oracle]] would be a simple automated system unaware of the information that it was sending. It would only know to send an encrypted e-mail to Alice if true, to Bob if false.

The example above is can be tried using a multisignature wallet like [[GreenAddress]] and a simple oracle like [http://earlytemple.com/ Early Temple] or [https://www.realitykeys.com/ Reality Keys].

[https://www.realitykeys.com/developers/resources#bitcoin Reality Keys] details a slightly more complex way of doing this which allows funds to be sent to Alice or Bob depending on a conditional: Conditional payments using branching bitcoin transactions.

OP_IF
2 A-pub Yes-pub 2 OP_CHECKMULTISIG
OP_ELSE
2 B-pub No-pub 2 OP_CHECKMULTISIG
OP_ENDIF

==How To Trade==
Trades are placed by predicting the direction an asset will move during the specified time frame. The time that option ends is called an expiry time. Expiry times range anywhere from 30 seconds until months away. At the end of the time if the direction you chose was correct, you win the trade. Winning trades pay out slightly less than 100% and typical payouts range between 80-85% depending on the broker.

Assets include
*Stocks
*Currencies
*Commodities
*Indices

[[Category:Gambling‏]] [[Category:Economics‏‏]] [[Category:Trading‏‏]]

Earning bitcoins

2017-11-04T00:22:08Z

MeshCollider:

Some websites have bonus programs that allow you to earn bitcoins by doing things like taking surveys, answering questions, trying apps, viewing advertisements, referring others to the website, and making purchases at other websites. Some of these have many of the same offers (but they give different payouts for participating in those offers).

== Additional Resources ==

* [https://thebitcoinstrip.com/free-bitcoins/#bonus-programs Guide To Earning Free Bitcoin] by TheBitcoinStrip — contains information about bonus programs and other free Bitcoin schemes.
* [http://bonusbitcoin.weebly.com/ BonusBitcoin List] A list of bitcoin bonus offers. Updated almost every day.
* [http://bonusbitcoin.weebly.com/ BonusBitcoin List] A list of bitcoin bonus offers. Updated almost every day.
* [http://cryptocoinzone.com/ Cryptocoinzone] Bonus offers from bitcoin exchanges, bitcoin wallets, bitcoin cloud mining and bitcoin lending companies.

==See Also==

* [[Getting_started|Getting Started]]
* [[Bitcoin_Affiliate_Programs|Affiliate Programs]]

==References==

Digital currency

2017-11-01T12:24:31Z

MeshCollider: Undo revision 64149 by 5tu (talk) - it's actually not a typo, that's what it's meant to be :)

A '''digital currency''', (also known as crypto-currency, cyber currency, digital cash, digital currency, digital money, e-currency, e-money, electronic cash, electronic currency, electronic money) refers to money or scrip which is only exchanged electronically.

When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as [[PayPal]], the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency.

==See Also==
* [[BTConvert]]
* [[List of alternative cryptocurrencies]]
* [[:Category:Money transmitters|Money transmitters]]
* [[Redeemable code]]

==External Links==
* [http://en.wikipedia.org/wiki/Electronic_money Electronic Money] article on Wikipedia