bitcoin

alternative Bitcoin · alternative BitCoin

1. uncountablebusinessA decentralized cryptocurrency using blockchain technology.First known use 2008

   We do not accept bitcoin at this store.

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   Bitcoin: A Peer-to-Peer Electronic Cash System [title] […] What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. […] In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.

   2008 October 31, Satoshi Nakamoto [pseudonym], “Bitcoin: A Peer-to-Peer Electronic Cash System”, in Bitcoin.org, archived from the original on 04 Jan 2025

   [A] man named Satoshi Nakamoto posted a research paper to an obscure cryptography listserv describing his design for a new digital currency that he called bitcoin.

   2011 November 23, Benjamin Wallace, “The Rise and Fall of Bitcoin”, in Wired, San Francisco, Calif.: Condé Nast Publications, →ISSN, →OCLC, archived from the original on 02 Jan 2025

   [Bitcoins] do not depend on the state banks, but are created through mining. Mining is also called as hashing. It is a process of solving complex math problems using those computers which run bitcoin software.

   2014, Dale Blake, “Getting and Selling Bitcoins”, in Bitcoin Guide for Beginners: Bitcoin Trading and Mining Made Easy, La Vergne, Tenn.: Mihails Konoplovs, →ISBN

   Other e-commerce sites that accept bitcoin are: Bitcoinshop.us which offers products like watches and air conditioners and ships to people within the United States; […] Travel booking websites also start to accept bitcoin sales on flights, hotel bookings to at least 200,000 hotels and railway Amtrak through their platforms.

   2015, Scott Green, “Bitcoin Growth and Trends”, in Bitcoin: The Ultimate A–Z of Profitable Bitcoin Trading & Mining Guide Exposed! (The Blokehead Series), Milan: Scott Green, →ISBN

   Individual bitcoin users are not the only driving force in terms of securing the bitcoin network. Over the past few years, dedicated bitcoin nodes have been added to the network with the sole purpose of receiving and broadcasting new bitcoin transactions to other users and nodes on the network.

   2016, Prypto [pseudonym], “Bitcoin Security”, in Bitcoin for Dummies (For Dummies), Hoboken, N.J.: John Wiley & Sons, →ISBN, part III (Using Bitcoin in Business), page 137

plural bitcoins

1. countablebusinessA unit of the bitcoin (proper noun proper noun sense 1) cryptocurrency.

   This item costs one bitcoin.

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   The value of fiat money is determined by legal means (legal tender laws). In other words, fiat money is anything the government says in money. For instance, if the government says an IOU or a bitcoin is money, then it is money. The major currencies of the contemporary world are fiat money.

   2008 November, Alex Marchand, “What is Money?”, in Dissolving Dollars: Exposing the Debt-based Insanity behind Modern Money, [S.l.]: 451° Publishing, published April 2015, →ISBN, page 12

   Users willing to devote CPU power to running a special piece of software would be called miners and would form a network to maintain the block chain collectively. […] The first miner to solve each puzzle would be awarded 50 new bitcoins, and the associated block of transactions would be added to the chain. […] [Satoshi] Nakamoto himself mined the first 50 bitcoins—which came to be called the genesis block—on January 3, 2009.

   2011 November 23, Benjamin Wallace, “The Rise and Fall of Bitcoin”, in Wired, San Francisco, Calif.: Condé Nast Publications, →ISSN, →OCLC, archived from the original on 02 Jan 2025

   Each time you succeed in creating a hash, you are rewarded with 25 bitcoins, the block chain is updated and all the users on the network are notified. This serves as an incentive to keep mining the bitcoins and keep the bitcoin transactions working.

   2013, Elda Watulo, John Davidson, “Making a Hash of It”, in How to Make Money Online With Digital Currency Bitcoins (Entrepreneur Book Series; 8), [S.l.]: JD-Biz Publishing, →ISBN

   They buy bitcoins at a lower price then sell them at a higher value.

   2014, Kinsley Wallace, “How to Invest and Trade Bitcoins”, in Bitcoins: How to Invest, Buy and Sell: A Guide to Using the Bitcoin, [United States]: Speedy Publishing, →ISBN

   But consider that a significant amount of bitcoin is also being held by investors. Those investors do not plan to sell their bitcoin for some time because they are speculating that due to its utility as MoIP, demand will continue to rise and so too will its value. Currently, roughly 5.5 million bitcoin, or US$5.5 billion worth at the price of US$1,000 per coin, is held by the top 1,000 addresses recorded in Bitcoin's blockchain.

   2017, Chris Burniske, Jack Tatar, Cryptoassets: The Innovative Investor’s Guide to Bitcoin and beyond, New York, N.Y.: McGraw-Hill Education, →ISBN, page 177

   Synonyms: ₿, BTC, XBT

plural Bitcoins

1. Alternative letter-case form of bitcoin.

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   And at least one group that was collecting donations in Bitcoins has decided against using them because of possible legal entanglements. […] “I’ve sold 24 collars, 13 leashes and 1 pair of ‘Disco Knickers’ with Bitcoin over the last few months,” she wrote in an e-mail. “The first order I had was for 42 BTC, which was worth about $40 at the time, but now those coins would be worth around $680! Originally I had a fixed Bitcoin price, but now I do a conversion based on the exchange rate.”

   2011 July 3, Noam Cohen, “Speed Bumps on the Road to Virtual Cash”, in The New York Times, archived from the original on 20 Jan 2021

plural BitCoins

1. Alternative letter-case form of bitcoin.