What is Bitcoin and How Bitcoin Works? Explained
Bitcoin is the first and most valuable cryptocurrency launched on Jan. 3rd, 2009, that uses peer-to-peer technology to send instant payments digitally.
How Bitcoin Really Works?
The best way to understand how bitcoin works, let understand what is bitcoin one more time, The first and most valuable cryptocurrency that uses peer-to-peer technology to send instant payments digitally world wild. Most of cryptocurrency investor miners that mine bitcoin, use deploying computer to solve and verified transaction called proof of work. so, to respond how bitcoin work, bitcoin work by using deploying computer to solve and verify per to per transaction world. Wild.
What is Bitcoin Halving?
Bitcoin halving simply means Code written into Bitcoin’s DNA that halves the amount of NEW Bitcoin entering circulation after a certain number of blocks are mined. (Usually every FOUR years). NOTE: Usually has a DRAMATIC impact on Bitcoin’s price to the upside.
Bitcoin Halving History
- first bitcoin halving cycle 28 Nov 2012
- second Bitcoin halving Cycle 9 July 2016
- third bitcoin Halving Cycle 11 May 2020
- the next maybe the last will occur around May 2024.
Bitcoin History Chart
When is the next bitcoin halving cycle?
bitcoin Halving cycle occur every four years, the most recent bitcoin halving cycle was 2020 and during that period bitcoin Ski rock to the moon. so, the next bitcoin halving cycle will be around 2024
How many Bitcoins are Left in Circulation
According to coinmarketcap, the max supply of bitcoin averaging 21.000.000 and circulating supply averaging 19.190.793. so, when take max supply -circulating supply, there is 1,809,207 BTC left in circulation and last, but no least Bitcoin have a potential to hit 1million per coin by 2030 because its value and it gold 2.0,
How long does it take to mine a Single Bitcoin?
According to our research, depending on the mining rig capacity, it only takes 10 to 20 minutes for Cryptocurrency Investor or miners to mine 1 single bitcoin, but remember do your own research before getting hype.
What is Mining Rig?
Mining rig is a computer that been personalized for cryptocurrency investor with the main goal of helping to generate a new coin and verify transaction, easy to use web interface, and no hosting required for mining rig to be operational, the item weight approximately 10.48 pounds depending on manufacture.
Can Bitcoin be Converted to Cash?
The Answer to that question is yes, all digital asset [cryptocurrency] can be easily convert to cash, the best way to convert your bitcoin to cash is by using one of exchange but before that make sure you already filling out your KYC, because most of the exchange have daily withdrawal limit, to learn more about Kyc please check our previews post that we explain what is Filling KYC. stay blessed
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