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How is a Bitcoin made?

So far in this series, we've already talked about what Bitcoin is, about how you can buy it, and how you can spend it, but how is it actually made? Bitcoin vs. Gold The short answer is that new Bitcoins are mined. However, since that is just giving a label, rather than a definition, you’re probably going to want to know a bit more than that. It’s perhaps easiest to compare Bitcoin to its nearest physical equivalent: gold. Just as existent banking systems are (or at least were) based on the quantity and value of gold in a given country’s...

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Bitcoins Surge could be start of the end for Crypto Currency

We have seen a huge jump over the weekend and could exceed $10,000, however we have seen in the past that the bigger the bitcoin bubble, the higher the likelihood it will burst. This is what some experts say. The poster boy of bitcoin reached an all-new high value. This saw all publicly traded cryptocurrencies take a boost, which include Ethereum. Ethereum jumped to $486, this is the first time it’s crossed the $400 mark. So why will the bubble burst? In September, the bitcoin soared beyond expectations by reaching $5,000, but then the cryptocurrency dropped by more than 16%...

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Swiss Central Bank chairman weighs in on Bitcoin

Thomas Jordan, chairman of the Swiss National Bank, has made a statement about cryptocurrencies at an event held in Basel on Thursday 23 November. Jordan said that central banks are keeping a very close eye on the issues of cryptocurrencies and that he would regard them "more as an investment than a currency". According to a report from Reuters, he also acknowledged that there are "many unsolved questions" around the subject. He also stipulated that central banks have a responsibility to consider the potential impact cryptocurrencies might have on the existing financial habitat. Indeed, at last year's Sibos conference in...

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Bitcoin Diamond has arrived with 4.2 billion coins

Friday 24 November saw the arrival of a brand new Bitcoin fork, but the 4.2 billion coins it has emerged with are already raising a number of questions. Bitcoin Diamond launched at block 495866, with the aim to transition from proof-of-work to proof-of-stake once the mining process is completed, which means after just 10,000 blocks. A strangely complex unveiling on Bitcointalk laid the path for the latest Bitcoin doppelgänger, which differs from other incarnations, like Bitcoin Cash and Bitcoin Gold, in that it has very little in common with Bitcoin itself. There is very little known about what Bitcoin Diamond...

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German bank jumps on Bitcoin-bashing bandwagon

In a tone that Bitcoiners are becoming increasingly familiar with, another prominent lending institution has warned everyday investors against putting capital into Bitcoin. This time it comes from Deutsche Bank and its chief strategist Ulrich Stephan. The anti-Bitcoin tirade is losing steam as some well-established Wall Street names start to warm to the digital currency. The banking sector, however, is choosing to continue approaching it with something akin to disdain. It makes sense that a hegemony like the banking industry would feel threatened by a new money system that could make them obsolete. But the constant warnings and fearmongering are...

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