bitcoin news – Bitcoints

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Published on July 21st, 2015 | by bitcoin

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bitcoin news

Information about bitcoin news

Bitcoin

Bitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee.
Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors. Unlike credit cards, any fees are paid by the purchaser, not the vendor. The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a big increase in the number of merchants accepting bitcoin, the cryptocurrency doesn’t have much momentum in retail transactions.
The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and media. Criminal activities are primarily centered around black markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.

News

News is packaged information about current events happening somewhere else; or, alternatively, news is that which the news industry sells. News moves through many different media, based on word of mouth, printing, postal systems, broadcasting, and electronic communication. Common topics for news reports include war, politics, and business, as well as athletic contests, quirky or unusual events, and the doings of celebrities. Government proclamations, concerning royal ceremonies, laws, taxes, public health, and criminals, have been news since ancient times. Humans exhibit a nearly universal desire to learn and share news from elsewhere, which they satisfy by traveling and talking to each other. Technological and social developments, often driven by government communication and espionage networks, have increased the speed with which news can spread, as well as influenced its content. The genre of news as we know it today is closely associated with the newspaper, which originated in China as a court bulletin and spread, with paper and printing press, to Europe. The development of the electric telegraph in the mid-19th century revolutionized news by enabling nearly instantaneous transmissions, and by empowering a cartel of news agencies which consolidated the world news system. In the 20th century, the style of news and its impact on national populations expanded considerably with constant live broadcasting of radio and television, and finally, with the popularization of the internet.

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