What is Bitcoin?

What is Bitcoin?
With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.

It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.

POD Research: Interesting Read:
https://www.weusecoins.com/

Bitcoin: A Peer-to-Peer Electronic Cash System The Bitcoin whitepaper is 9 pages long and consists of an Abstract and 12 sections. While i have read many articles about Bitcoin (see references below), for the purposes of this post i refer to the whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” only: Bitcoin Whitepaper: ABSTRACT – Satoshi Nakamoto outlines: The Problem: There is no way...

Many people who have held bitcoin for a long time have been through several boom and bust cycles. Recently, many folks have noticed a pattern to these cycles linked to the bitcoin halving event that happens every 210,000 blocks or approximately every four years. The next one is anticipated to occur in April/May 2020. Historically, these halving events have not been properly priced into the...

Many cryptographic standards widely used in commercial applications were developed by the U.S. Government’s National Institute of Standards and Technology (NIST). Normally government involvement in developing ciphers for public use would throw up red flags, however all of the algorithms are part of the public domain and have been analyzed and vetted by professional cryptographers who know what...

“Since we’re all rich with bitcoins, or we will be once they’re worth a million dollars like everyone expects, we ought to put some of this unearned wealth to good use.”

Hal Finney, the first recipient of a Bitcoin transaction

The global financial landscape is undergoing rapid transformation led by the creation of modern future proof cryptocurrencies. Cryptocurrencies are the future of money. Their universal access allows anyone with an internet connection to utilize the power of this innovative technology. Payment Coin (POD) is simply a faster next generation form of digital cash than Bitcoin.

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