Litecoin vs bitcoin reddit

Welcome to Bitcoin Price Find the current price of Bitcoin and Bitcoin Cash. We also litecoin vs bitcoin reddit historical bitcoin charts comparing the price of bitcoin to USD. Bitcoin is the most popular digital currency.

Although physical forms of bitcoin do exist, currency’s primary form is data so that you can trade it online peer-to-peer, using wallets,  iphone apps or an online service like Coinbase. Each Bitcoin is subdivided down to eight decimal places, forming 100,000,000 smaller units called satoshis. Bitcoins work like paper money in many ways with some key differences. When someone pays for something using Bitcoin or gets paid, the transaction is recorded in the record book. Computers around the world compete to confirm that transaction by solving complicated mathematical problems and in turn, the winner gets rewarded with a very small portion of a Bitcoin. In essence, Bitcoins are electricity converted into long strings of code that have monetary value.

Some consider Bitcoin as a commodity, like gold. Think of it as an investment. You can tuck them away and hope their value increases over the years. The first Bitcoin proof of concept was published in 2009 by a person or a group of people known as Satoshi Nakamoto. No one really knows who Satoshi Nakamoto is.