Wednesday, April 10, 2013
Bitcoin exchange rate today
Mt. Gox is the biggest marketplace for Bitcoin exchange. Accordint to their own marketing Mt. Gox handles over 80% of Bitcoin trade. The current market price for Bitcoin is USD 235,1000.
Tuesday, April 9, 2013
Bitcoin logo - Bitcoin logo for free use
This is the bitcoin logo that is allowed freely for any use (according to wikipedia).
Liquidity of bitcoin - Bitcoin trading volumes
Bitcoin is very liquid virtual currency for small or medium size payments. This means that changing small amounts (tens, hundreds or thousands) of euros or dollars to bitcoins or vice versa is not a problem. According to the bitcoin.org the daily trading volume of bitcoins is aroung 1 million USD and it consists of 40000 transactions. This leads to a conclusion that the average bitcoin transaction is appr. 25 USD. The total value of bitcoins in circulation is over 300 million USD. This all leads to a conculusion that bitcoin cannot be very liquid for very large transactions and therefore currency value is volatile and individual big exchanges to traditional currencies can affect bitcoin exchange rate.
Bitcoin historical exchange rate to USD or EUR has been very volatile. The value of bitcoin has risen significantly but there has been several drops in the value.
Bitcoin historical exchange rate to USD or EUR has been very volatile. The value of bitcoin has risen significantly but there has been several drops in the value.
What is bitcoin - Bitcoin introduction video
What is bitcoin? is very common question for people who hear about the virtual currency for the first time. This short bitcoin introduction video explains some facts about the bitcoin and virtual currency.
Bitcoin - What is bitcoin? - Bitcoin virtual currency - The short history of Bitcoin
Bitcoin is the most well known virtual currency in the world today. Bitcoin is a virtual currency that is based on open source digital project. The Bitcoin was developed by person who we know as Satoshi Nakamoto. The real name of Satoshi Nakamoto is not known. In his profile he presents himself as 37 years old Japanese male. However his use of English language has lead some analysts to the conclusion that he/she must be from the UK or United States. Actually it is not certain that Satoshi Nakamoto is one person. It's also possible that there is a group of bitcoin founders that use nickname Satoshi Nakamoto.
Each bitcoin is divided to 100 million satoshi. One satoshi is then 0,00000001 BTC. BTC is the official code for Bitcoin virtual currency.
History of Bitcoin
Bitcoin project has started 2008 or earlier. The bitcoin.org domain was registered in August 2008 and first Bitcoins were issued on January 9th 2009. First Bitcoin transfer between users was executed on January 12th 2009. The exchange rate of Bitcoin was defined for the first time in September 2009. The first BTC/USD exchange rate was $1 = 1309,03 BTC.
The start of the Bitcoin was slow and it was only 2010 when first Bitcoin exchange services were opened. The Bitcoin Market and Mt. Gox were the first Bitcoin exchange services. Bitcoin got big public attention for the first time 2011 when media widely reported about the Silk Road -marketplace where drug dealers were using Bitcoins as payment method.
How is value of Bitcoin determined? - Bitcoin value depends on supply and demand of Bitcoins
Bitcoins are not issued by any central bank as traditional currencys. Bitcoins are issued by an open source software based on determined algorithm. This limits the growth of issued Bitcoins. The exchange rates between Bitcoins and traditional currencies are based on supply and demand of Bitcoins in the market places.
Each bitcoin is divided to 100 million satoshi. One satoshi is then 0,00000001 BTC. BTC is the official code for Bitcoin virtual currency.
History of Bitcoin
Bitcoin project has started 2008 or earlier. The bitcoin.org domain was registered in August 2008 and first Bitcoins were issued on January 9th 2009. First Bitcoin transfer between users was executed on January 12th 2009. The exchange rate of Bitcoin was defined for the first time in September 2009. The first BTC/USD exchange rate was $1 = 1309,03 BTC.
The start of the Bitcoin was slow and it was only 2010 when first Bitcoin exchange services were opened. The Bitcoin Market and Mt. Gox were the first Bitcoin exchange services. Bitcoin got big public attention for the first time 2011 when media widely reported about the Silk Road -marketplace where drug dealers were using Bitcoins as payment method.
How is value of Bitcoin determined? - Bitcoin value depends on supply and demand of Bitcoins
Bitcoins are not issued by any central bank as traditional currencys. Bitcoins are issued by an open source software based on determined algorithm. This limits the growth of issued Bitcoins. The exchange rates between Bitcoins and traditional currencies are based on supply and demand of Bitcoins in the market places.
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