Cryptos Land: Bitcoin FAQ's

Tuesday, 14 March 2017

Bitcoin FAQ's

Some popular question asked by people who wish to know more about Bitcoin.

Who created Bitcoin? 
The real person behind this great invention is unknwon. However, Satoshi Nakamoto was the inventor of the bitcoin protocol, publishing a paper via the Cryptography Mailing List in November 2008. Nobody knows who is or was Satoshi Nakamoto.

Who is Satoshi Nakamoto? 
Satoshi Nakamoto is the name used by the unknown person or persons who designed bitcoin and created its original reference implementation, Bitcoin Core. As a part of the implementation, they also devised the first blockchain database.

What is Satoshis? 
It is the smallest unit of Bitcoin a person can hold. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.

Also See : Bitcoin Wallets

What was the starting value of 1 Bitcoin in 2009?
Probably none, or maybe $0.001 or even less nobody knows. In Marach 2010 there was a BTC auctioned, 10,000 BTC for $50 (cumulatively), but no buyer was found.
What is Bitcoin Faucet?
A Bitcoin faucet is a website that dispense some free Bitcoins after every defined time. The amount is in Satoshis

What was the first Bitcoin faucet?
You can read about it here.

Why was Bitcoin made?
Bitcoin was made as a method to send money instantly without the need of any government and banking. It was created to decentralized the financial system.

Also See : Nine Ways To Earn Bitcoins

How Bitcoin transaction works?
You can see about it here

Anything else you need to ask? Just comment or contact us.
Bitcoin FAQs Question

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