Even Satoshi Nakamoto, the elusive creator of bitcoin, admitted that his invention is hard to explain–because there is nothing you can compare it to. Here is how a bitcoin transaction is processed: 1) Payers initiate a bitcoin payment using wallet software. 2) This and other pending transactions are broadcast on the global bitcoin network. 3) Once every ten…
Electrum’s focus is speed, with low resource usage and simplifying Bitcoin. Startup times are instant because it operates in conjunction with high-performance servers that handle the most complicated parts of the Bitcoin system. Does Electrum trust servers? Not really; the Electrum client never sends private keys to the servers. In addition, it verifies the information…
All of these options accept US Dollars, and may accept other currencies and/or cryptocurrencies. Most of these options require user verification before bitcoin purchase, in line with (Know Your Customer/Anti Money Laundering). One of the most reputable bitcoin exchanges available, Coinbase is popular among fans of the ‘dollar cost averaging’ method, where users…
According to our bitcoin ATM industry stats, there is a growing number of bitcoin ATM installations worldwide. If someone wants to run his own bitcoin ATM or install a bitcoin machine at existing local business, what are the main points to check and decisions to make beforehand? The following article tries to answer these questions. Regulation With all developments…
