May 10, 2019, | AtoZ Markets - The world is still interested in cryptocurrency, despite all the contradictions associated with this technology. In 2017, Bitcoin made the top 5 Google search queries. In January 2019, the most popular crypto celebrated its 10th anniversary and gained fame among anarchists and day traders.
1. What is Bitcoin SV?
One of the most searched questions related to bitcoin and cryptos was “ what is Bitcoin SV?” It is pretty obvious if we take into account the name associated with this type of coin. Notable that this term scored the first place in the top 5 google bitcoin questions.
Almost a month ago, the world's largest crypto-exchange Binance excluded Bitcoin SV (BSV) from the Bitcoin list after a conflict between the BSV creator Craig Wright and Binance director Changpeng Zhao. The conflict started due to Wright’s attacks on a Twitter user under nickname Hodlonaut and BitcoinMagazine’s article stating that Bitcoin SV supporter has intentions to sue Hodlonaut who accused Wright of being a fraudster. In addition, a few days later an extremely high activity of the mysterious Satoshi Nakamoto miner was spotted.
Surprisingly, that Satoshi was mining Bitcoin Cash (BCH) and some have speculated this is the beginning of the new Bitcoin SV Hashrate war. The reason behind BCH miner’s activity remained unclear, so his or her real identity.
2. Who created Bitcoin?
“Who created Bitcoin? “scored the second place in the top 5 googled bitcoin questions. After ten years since the birth of the first bitcoin, the community still have not cracked the puzzle of the real Bitcoin founder’s identity. Many assumptions have already been made about the crypto creator’s personality; some claimed it was a Japanese professor, while others suggested that it was Ripple’s CTO, David Schwartz. Other candidates on the speculative list were Charlie Lee from Litecoin and the late bitcoin developer David Kleiman.
However, the most famous self-proclaimed Satoshi Nakamoto is a nChain chief scientist and Bitcoin SV supporter Craig Wright. Wright first stated that he was the creator of bitcoin at the end of December 2015. The initial support of some parties ended with lots of skeptical comments about Wright statement and Vitalik Buterin openly calling nChain scientist a fraud.
BSV founder made a second attempt to prove himself to be Bitcoin founder in 2019. In February, Wright stated that he is the one and only bitcoin founder Satoshi Nakamoto and addressed to a top U.S. regulator with his critics about ethereum.
Another confrontation between self-proclaimed Satoshi and crypto community happened in Tweeter and ended with Bitcoin SV being delisted from Binance. There were more Wright and crypto community’s disputes about BSV supported being a real bitcoin creator. However, the question “who created bitcoin” remains unanswered.
3. What is the name of the general ledger that tracks all bitcoin transactions?
The name of the general ledger that tracks all bitcoin transaction is the blockchain.
Last year Bitcoin together with the blockchain celebrated its 10 year anniversary and the community’s interest towards general ledger that tracks all bitcoin transactions has grown significantly.
Blockchain has caught the world’s interest making some believe that it is a game-changing technology. Others, however, remain skeptical about this innovation and positive that blockchain will fail inevitably along with cryptocurrencies. Concerns and doubts, although, did not hold certain tech giants and institutions from blockchain adoption in their services. Only time will tell who was right about the blockchain technology.
4. How many bitcoins will ever be created?
Like gold, which is simply impossible to create, so bitcoins need to be mined. Gold must be mined from the ground, and bitcoin must be mined by solving math problems and issued in the crypto exchange.
Mining is considered an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.
However, like gold, the most famous crypto, has a limited supply. According to the latest reports, there are only 21 million Bitcoins that can be mined in total. What happens after miners have unlocked this many Bitcoins and the global supply of Bitcoin reaches its limit?
This is the subject of much debate among the followers and aficionados of all things cryptocurrency.
It may seem that the group which might most directly be affected by the limit of the Bitcoin supply are the Bitcoin miners themselves.
On one hand, the Bitcoin limitation opposers say that miners will be forced away from the block rewards they receive for their work once the Bitcoin supply has reached 21 million in circulation.
In this case, the miners will have to rely on transaction fees in order to maintain operations. Experts from Bitcoin.com suggest that miners will then find the process unaffordable. As a result, this might lead to a reduction in the number of miners, a centralization process of the Bitcoin network, and numerous negative effects on the Bitcoin system.
5. Bitcoin doubler club a new member in top 5 googled bitcoin questions
Bitcoin doubler is an automated Bitcoin investment platform operating with no human intervention which increases the value of deposits up to two times.
Bitcoin doubler is used by people who are looking for an easy way to double their investments on cryptocurrencies.
The automated system of the Bitcoin doubler platform gathers information from the blockchain transfers and cryptocurrency exchanges to study and predict the cryptocurrency’s price.
The servers of the Bitcoin doubler open and close a significant number of transactions per minute, analyzing the price difference and transaction fees, and use that information to double your Bitcoins. The data centers of the Bitcoin doubler platform are usually located in multiple locations around the world so that its system has 100% uptime guaranteed.
Bitcoin doubler platform usually claims to function using the following key features:
- Trusted Bitcoin Investment platform with fully automated payouts
- double Bitcoins in 10 hours
- From 0.01 BTC to 0.02 BTC minimum and 10 BTC maximum investment limits
- Easy to use interface for both experienced investors and newbies
- Track your investment with our dynamic table showing most recent transactions
- SSL security and DDoS protection
- “100% uptime with zero chance for a transaction to fail”
Bitcoin doubler’s legitimacy is the subject of the never-ending discussion. Most crypto community experts consider bitcoin as a fraud. As a rule, the bitcoin-doubler platforms do not provide specific information about trading strategies, methods, and ideas. Also, a promise of a 200% refund within 10 hours also points to a possible trick to convince investors and get them to sign up for this fraudulent program.
It is also difficult to identify the creators of such platforms. As a rule, the company's website indicates that the site was created by a group of “architects-programmers who like cryptocurrency very much.
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