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Currency exchange - Bitcoin Wiki

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"Soft currencies" and chargebacks[ edit ]

Exchanging bitcoins for other forms of currency brings up some issues regarding chargeback fraud. Specifically, payment methods such as credit cards, and PayPal, can be reversed up to 90 days after the transaction took place. In contrast, bitcoin is a "hard currency", once you spend bitcoins, you cannot get them back by 'pulling' from your side....

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Bitcoin - Bitcoin Wiki

Basic Concepts

Currency

Alice wants to buy the Alpaca socks which Bob has for sale. In return, she must provide something of equal value to Bob. The most efficient way to do this is by using a medium of exchange that Bob accepts which would be classified as currency. Currency makes trade easier by eliminating the need for coincidence of wants required in other systems of trade such as barter....

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Bitcoin address - Bitcoin Wiki

Bitcoin address is an identifier (account number), starting with 1 or 3 and containing 27-34 alphanumeric Latin characters (except 0, O, I). Address can be also represented as the QR-code, is anonymous and does not contain information about the owner. It can be obtained for free, using, for example, Bitcoin software. Address example:

14qViLJfdGaP4EeHnDyJbEGQysnCpwn1gZ

Addresses can be generated...

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Bitcoin wallet - Bitcoin Wiki

Bitcoin wallet is the equivalent of a physical wallet for transactions with ."/>

Bitcoin wallet is the equivalent of a physical wallet for transactions with ."/>

Bitcoin wallet is the equivalent of a physical wallet for transactions with ."/>

Bitcoin wallet

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Bitcoinwallet is the equivalent of a physical wallet for transactions with Bitcoin . There are different wallets for...

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Related topics : bitcoin wallet address private key / bitcoin wallet private key generator / bitcoin wallet address electrum / bitcoin wiki wallet / bitcoin computer wallet

Difficulty - Bitcoin Wiki

6 References

Principles of operation[ edit ]

In Bitcoin network there's global difficulty set for all blocks. For block to be considered legitimate it has to have hash value lower than set target.

Difficulty is changed every 2016 blocks. This is calculated using following formula:

difficulty = difficulty_1_target / current_target

where target is a 256-bit number.

Difficulty_1_target can take...

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Related topics : current bitcoin block difficulty / current bitcoin difficulty calculator / current bitcoin difficulty / bitcoin difficulty target / bitcoin mining calculator difficulty increase

Electronic money - Bitcoin Wiki

Electronic money definitions can vary from one source to another, but the underlying principles are always the same: to be considered electronic money, the system has to involve following concepts: computer networking, the use of Internet and digital stored value systems.

Variants of implementation[ edit ]

All electronic money can be divided into two categories: centralized and decentralized systems.

Centralized digital money are systems like PayPal , WebMoney, Payoneer, cashU and also any interbank or intrabank wire transfers, bank deposits and so on. They all have...

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Related topics : electronic money bitcoin / digital money like bitcoin / transfer money from bitcoin to paypal / digital currency system / electronic currency bitcoin

Bytecoin - Bitcoin Wiki

Decreases each block according to the formula: BaseReward = (MSupply - A)/2^18,

where MSupply = (2^64 - 1) atomic units and 'A' is amount of already generated coins;

Coin division

One coin is divisible down to 8 decimal places (divisible up to 10^8);

Total coins

18 446 744 073 709 551 616 atomic units (= 184.46 billion BCN)

Mining

Bytecoin is a CPU-mined currency which makes it more attractive to more people. Bytecoin is using egalitarian ASIC /GPU resistant CryptoNight algorithm. Basically, every modern PC should be able to handle...

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Related topics : bitcoin coin generator