Published on July 21st, 2015 | by bitcoin0
Information about bitcoin xbox
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.
Xbox (stylized as XBOX) is a video gaming brand created and owned by Microsoft. It represents a series of video game consoles developed by Microsoft, with three consoles released in the sixth, seventh, and eighth generations respectively. The brand also represents applications (games), streaming services, and an online service by the name of Xbox Live. The brand was first introduced on November 15, 2001 in the United States, with the launch of the original Xbox console.
That original device was the first video game console offered by an American company after the Atari Jaguar stopped sales in 1996. It reached over 24 million units sold as of May 10, 2006. Microsoft’s second console, the Xbox 360, was released in 2005 and has sold over 77.2 million consoles worldwide as of April 18, 2013. The successor to the Xbox 360 and Microsoft’s most recent console, the Xbox One, was revealed on May 21, 2013. The Xbox One has been released in 21 markets in total, with a Chinese release on 29 September 2014. The head of Xbox is Phil Spencer, who succeeded former head Marc Whitten in late March 2014.