When Bitcoin was conceptualized, one could mine efficiently with the use of a consumer grade CPU. Eventually, as more and more people kept joining the mining process, the network difficulty rose up as a natural reaction. This led some developers to utilize the GPU for solving the Proof of Work hashes required to write transactional…

In order to mine Bitcoin, you're going to need special software that can communicate with the rest of the Bitcoin network and follow the correct consensus rules and hashes. You can use this part of the guide to learn more about these types of software and to discover solutions for your particular operating system. Please refer…

The blockchain represents a series of blocks, each of them hashed in a way that the information contains and relies on the hash from the previous block. This process ensures that the blocks are literally chained and approved by the network. If one would theoretically change information in previous blocks, this would result in a complete…

In its essence, the blockchain is a change-resistant database that allows only for new information to be added to it. It's impossible to change previously written information, without rewriting every Block once incorporated into the structure of the blockchain. Because of this, Bitcoin transactions are incredibly secure and since the Bitcoin blockchain is publicly available, one…

Solo mining for correct block hashes is incredibly difficult right now. Actually, solo mining has been very difficult for quite some time. Mining pools first started at the end of 2010, with a company called Slush Pool. They are still active and at the time of writing they hold 161 Ph/s of hashing power. This…

Mining farms are commonplace in the Bitcoin ecosystem and most of them offer different packages for hash power while mining for themselves as well. This is a touchy subject for many people, due to the sheer amount of scams that are popping up across the internet. This is why we want to ask you to practice…

The process of encrypting information to through a certain cryptographic algorithm and obtaining a scrambled output is called hashing. This is an integral process that continually benefits the Bitcoin network and takes care of security issues that would otherwise render the network completely unviable for financial usage. The blockchain consists of blocks that are connected to each…

When you encounter the term "Distributed Ledger" it's pretty easy to get a clear idea of what it stands for. Distributed meaning that multiple people have the information, and Ledger meaning that it is data used to record historical events. In the case of Bitcoin, the ledger stores all of the transactional data from the first…

BTC/USD markets seem to have been experiencing a change in the market’s sentiment over the last trading session. Whilst selling pressure doesn’t seem to be going down, substantially large buy orders made the price spike upwardly, pushing the price up. Major Signals Large buy orders are managing to push the price up amid a setting…

Big conglomerates worldwide have filed patent applications for the Bitcoin currency. Some of these multinationals include Amazon.com; AT&T Global Network Services; IBM; Goldman Sachs; Bank of America; MasterCard; JPMorgan Chase; R3 Consortium; Verizon; and, Western Union. Patent Not Possible for Bitcoin The bad news is Bitcoin cannot be patented. Satoshi Nakamoto is said to be the…