Our Latest Podcast Episode Released on 02.17.20

Recent Podcast Episodes

  • Tokenizing athletes talents and sports institutions

    Episode 78: Tokenizing athletes talents and sports institutions

    Today Sunil Bhardwaj with Globatalent joins us to discuss how he is tokenizing athletes talents and sports institutions. Sunil is the CEO and Co-Founder of Globatalent. Sunil has over 20 years experience as general manager for basketball clubs at the highest level along with Formula 1 and Soccer. He started his first successful company at […]

  • Invest in crypto assets by hedging with physical gold

    Episode 77: Invest in crypto assets by hedging with physical gold

    Today Joshua Scigala joins us to discuss how to invest in crypto assets by hedging with physical gold.  Joshua is the CEO of Vaultoro.com a bitcoin exchange than enables anyone to trade between physical, insured gold bullion and crypto currency. Josh has been working in the alternative economy space since 2001 and part of the […]

  • On Yavin

    Episode 75: Learn cryptocurrency and blockchain on Cointelligence Academy

    Today On joins us to discuss how you can learn cryptocurrency and blockchain on Cointelligence Academy. On Yavin is the founder and CEO at Cointelligence, a company that conducts data research and analysis for the crypto economy. On has extensive experience as a serial entrepreneur and angel investor, as well as more than 20 years […]

  • Brady McKenna

    Episode 74: Create, operate, and govern a network of decentralized markets and communities

    Brady McKenna with district0x.io joins us to discuss how you can create, operate, and govern a network of decentralized markets and communities. Brady is an emerging financial technology consultant and educator. He was previously with Coinbase doing operational work and Regulatory Compliance. He has also been working in the IT field for over a decade, […]

Recent Blog Posts

  • Top 5 Reasons Ripple is set to Rally in 2020

    Top 5 Reasons Ripple is set to Rally in 2020

    2019 was a hard year for Ripple – there’s no denying that. In November 2019, Ripple was down a whopping 28% from the start of the year (according to data from CoinMarketCap), but it’s currently sitting with a market cap of around $10 billion (trailing behind only Bitcoin and Ethereum). Still, things are likely going […]

  • Exploring the Impossibility of Decentralization

    Exploring the Impossibility of Decentralization

    This article is originally published in Albaron Ventures. Grade school might tell you anything is possible. Complete and total decentralization, however, is not– at least sustainable.  The premise that decentralization is impossible hinges on the fact that decentralization “experiments” such as Bitcoin have approached towards degrees of centralization. For example, Bitcoin’s Proof-of-Work (PoW) mechanism relies […]

  • Beginner’s Guide To Ethereum’s Beacon Chain

    Beginner’s Guide To Ethereum’s Beacon Chain

    Ethereum’s transition from a PoW (proof of work) algorithm to a PoS (proof of stake) algorithm, has been in the works for quite a while. It seems that the switch is finally here. The beacon chain will allow PoW Ethereum 1.0 to grow into PoS Ethereum 2.0. But how does the beacon chain work and […]

  • Why Geographical Distribution Of Bitcoin And Ethereum Nodes Matter

    Why Geographical Distribution Of Bitcoin And Ethereum Nodes Matter

    There is a common misconception about cryptocurrency. Many think that whoever controls the mining power, controls the network. Therefore, China can shut Bitcoin down. That is false. Although miners have influence on the network, they do not control it. No single entity controls a blockchain-based network that is decentralized and distributed by definition, and miners […]

FAQ

CoinDiligent is your top resource for in-depth cryptocurrency guides and reviews.

Bitcoin acts under the same circumstances as any other currency, meaning Bitcoin can be used theoretically anywhere that accepts Bitcoin as a proper exchange of value. While stores are slowly adopting Bitcoin, here are some places you can use your Bitcoin on the internet:

You can buy cryptocurrencies on online exchanges. Some of the most common exchanges are Coinbase, Binance, and Bitfinex. You can even purchased them from special ATMs

No. You can spend as much as you want (as little as $5).

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” – Don & Alex Tapscott, authors Blockchain Revolution (2016)

The blockchain network lives in a state of consensus, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. A network of so-called

computing “nodes” make up the blockchain.

 

blockchain process image

Originally from thebulletin.org

Due to Bitcoin being open source, anyone can take the code and edit it to create a different coin than Bitcoin creating an Altcoin. An altcoin is basically any coin that “forked” away from Bitcoin, some prime examples being Ethereum, Litecoin, and Ripple.

Satoshi Nakamoto, an unknown software developer who proposed bitcoin in 2008 by using mathematical proof as an electronic payment system. Satoshi created bitcoin as a response to the financial crisis of 2008.  

A digital or virtual currency that uses cryptography for security.

  • Bitcoin is a digital form of currency and differentiates from your average currency and some altcoins in these  5 major ways:
    • Decentralization
      • No single entity controls the bitcoin network. It is maintained by a group of volunteer coders, and run by an open network of dedicated computers spread around the world called nodes.
    • Limited Supply
      • Fiat currencies (dollars, euros, yen, etc.) have an unlimited supply – central banks can issue as many as they want, and can attempt to manipulate a currency’s value relative to others. With bitcoin, on the other hand, the supply is tightly controlled by the underlying algorithm. A small number of new bitcoins are distributed into the blockchain network every hour, and will continue to do so at a diminishing rate until a maximum of 21 million Bitcoins has been reached.
    • Partial Anonymity
      • Since there is no central “validator,” users do not need to identify themselves when sending bitcoin to another user. When a transaction request is submitted, the protocol checks all previous transactions to confirm that the sender has the necessary bitcoin as well as the authority to send them. The system does not need to know his or her identity. With that being said when buying Bitcoin from an exchange most require that you reveal your identity and keeps record of whatever bitcoin you buy or sell.
    • Immutability
      • Bitcoin transactions cannot be reversed, unlike electronic fiat transactions. This is because there is no central person in charge of the transaction that can return the money.
    • Divisibility
      • The smallest unit of a bitcoin is called a satoshi. It is one hundred millionth of a bitcoin (0.00000001).

 

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