WHAT IS BITCOIN? – The history, uses and future for Bitcoin and cryptocurrency.


Learn about Bitcoin and what it has in store for us in the future from the GOD of BITCOIN Andreas Antonopoulos.

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BOOKS YOU MAY BE INTERESTED IN:

MASTERING BITCOIN, 2nd Ed: https://amzn.to/2ttEEQY

THE INTERNET OF MONEY, v1: https://amzn.to/2T0oHjv

THE INTERNET OF MONEY, v2: https://amzn.to/2tpBAVU

MASTERING ETHEREUM (Q4): https://amzn.to/2EjAYr2

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Bitcoin (₿) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, thefts from exchanges, and the possibility that bitcoin is an economic bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.

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About Andreas Antonopoulos

In 2012 Antonopoulos became enamored with bitcoin. He eventually abandoned his job as a freelance consultant and started speaking at conferences about bitcoin, consulting for startups, and writing articles free of charge.

According to his podcast, Antonopoulos is a consultant on several bitcoin-related startups.[11] He served as head of the Bitcoin Foundation’s anti-poverty committee until 2014, when he resigned citing a lack of transparency as the reason.

In January 2014, Antonopoulos joined Blockchain.info as chief security officer. In September 2014 he left the CSO role.

Antonopoulos was an outspoken critic of the Mt. Gox trading platform as early as April 2013, calling it “a systemic risk to bitcoin, a death trap for traders and a business run by the clueless”. In February 2014, following the closing of Mt. Gox, Antonopoulos published a further analysis of the collapse and its effect on the greater bitcoin ecosystem.

In April 2014, Antonopoulos organised a fundraising campaign for Dorian Nakamoto, who was identified in a Newsweek article as the creator of bitcoin, Satoshi Nakamoto. The reporting techniques used in the article were controversial among journalists and Bitcoin community members. The fundraiser, intended to assist Nakamoto after the attention he received as a result of the article, raised 50 bitcoins, worth US$23,000 at the time.

On 8 October 2014, Antonopoulos spoke in front of the Banking, Trade and Commerce committee of the Senate of Canada to address the senators’ questions on how to regulate bitcoin in Canada.[18] In his testimony, he warned senators against premature regulation of bitcoin, stating “Wait until the technology is better understood by all of us … there are many applications based on this model — would stifle this technology in its early days.”

In March 2016, the first edition of Mastering Bitcoin was released by Antonopoulos, in print and online, followed by a second edition in June 2017.

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