BitcoinZ

Overview of BitcoinZ

BITCOINZ was launched with the legendary “BITCOIN” name because it added optional privacy with its “Z” addresses, fixed the high Bitcoin fees reducing them almost to zero, offered scalability, protected the PC miners from the ASIC elites and at the same time it truly honoured Bitcoin’s vision with:

BitcoinZ implements the Proof of Work approach (it’s minable like Bitcoin)  and it’s ideologically based with a noble cause, targeting to offer worldwide free transactions with virtually zero cost for all.

BitcoinZ is technically utilizing the ZCash core, offering privacy features (a fewthing that Bitcoin does not do) with the Zk-snarks cryptography and is achieving considerably faster transactions speed.

BitcoinZ has already completed almost all of its first Roadmap’s targets and has passed to a second one: the first Dynamic Roadmap in the Cryptocurrency world.

BitcoinZ price Index provides the latest BTCZ price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

BitcoinZ produces its own wallet software that is available for download on its website, which allows you to store BitcoinZ on your computer.

BITCOINZ skyrocketed +75% during a bloodbath day for the cryptocurrency market.Many people wonder why this impressive move took place.

BitcoinZ prides itself on 100% community inclusion – the community posts open and public proposals for change that are voted on.

BitcoinZ was reportedly launched on 9 Sep 2017 with no premine, developer fees, ICO, and was not a chain fork of any coin.

BitcoinZ’s market cap currently sits at $26,151,700.00 USD, holding up for a market cap rank at #770.

Blockchain

BITCOINZ never did that, as it had its own genesis block and a completely unique blockchain.It never forkdropped any coins making specific cryptocurrency elites richer which comes in contrary with the cryptocurrency idea.This way it is the only project that stays loyal to the pure BITCOIN vision and idea as it honestly  offers the most fair cryptocurrency network in the world.

Mine

Network

BITCOINZ is a minable digital coin which is using Zhash, an ASIC resistant algorithm.In this section you will find a list of the available mining pools and an analytical mining guide with some useful tips for BITCOINZ mining.This way it protects the miners community so that virtually everyone is able to use his hardware in order to mine BITCOINZ and support its network.

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Hasn’t Bitcoin been hacked in the past?

The rules of the protocol and the cryptography used for Bitcoin are still working years after its inception, which is a good indication that the concept is well designed.However, security flaws have been found and fixed over time in various software implementations.Like any other form of software, the security of Bitcoin software depends on the speed with which problems are found and fixed.The more such issues are discovered, the more Bitcoin is gaining maturity.

Can bitcoins become worthless?

Yes.History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar.Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on.As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times.Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow.However, no one is in a position to predict what the future will be for Bitcoin.

How does Bitcoin mining work?

Anybody can become a Bitcoin miner by running software with specialized hardware.Mining software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions.Bitcoin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created bitcoins issued into existence according to a fixed formula.

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How does Bitcoin work?

From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them.This is how Bitcoin works for most users.

Can I make money with Bitcoin?

You should never expect to get rich with Bitcoin or any emerging technology.It is always important to be wary of anything that sounds too good to be true or disobeys basic economic rules.

Are You Under Attack?

Contact the DDoS Attack Hotline for emergency DDoS protection.

Can Bitcoin scale to become a major payment network?

The Bitcoin network can already process a much higher number of transactions per second than it does today.It is, however, not entirely ready to scale to the level of major credit card networks.Work is underway to lift current limitations, and future requirements are well known.Since inception, every aspect of the Bitcoin network has been in a continuous process of maturation, optimization, and specialization, and it should be expected to remain that way for some years to come.As traffic grows, more Bitcoin users may use lightweight clients, and full network nodes may become a more specialized service.For more details, see the Scalability page on the Wiki.

Guide: What is Bitcoin and how does it work?

When the richest person in the world gives his support to a virtual currency you know it’s big business.

Could users collude against Bitcoin?

It is not possible to change the Bitcoin protocol that easily.Any Bitcoin client that doesn’t comply with the same rules cannot enforce their own rules on other users.As per the current specification, double spending is not possible on the same block chain, and neither is spending bitcoins without a valid signature.Therefore, it is not possible to generate uncontrolled amounts of bitcoins out of thin air, spend other users’ funds, corrupt the network, or anything similar.

How does one acquire bitcoins?

While it may be possible to find individuals who wish to sell bitcoins in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods.This is due to cases where someone buys bitcoins with PayPal, and then reverses their half of the transaction.This is commonly referred to as a chargeback.

Can Bitcoin be regulated?

The Bitcoin protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use.Attempting to assign special rights to a local authority in the rules of the global Bitcoin network is not a practical possibility.Any rich organization could choose to invest in mining hardware to control half of the computing power of the network and become able to block or reverse recent transactions.However, there is no guarantee that they could retain this power since this requires to invest as much than all other miners in the world.

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Is Bitcoin really used by people?

Yes.There are a growing number of businesses and individuals using Bitcoin.This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap and Overstock.com.While Bitcoin remains a relatively new phenomenon, it is growing fast.As of May 2018, the total value of all existing bitcoins exceeded 100 billion US dollars, with millions of dollars worth of bitcoins exchanged daily.

Isn’t speculation and volatility a problem for Bitcoin?

This is a chicken and egg situation.For bitcoin’s price to stabilize, a large scale economy needs to develop with more businesses and users.For a large scale economy to develop, businesses and users will seek for price stability.

How are bitcoins created?

New bitcoins are generated by a competitive and decentralized process called “mining”.This process involves that individuals are rewarded by the network for their services.Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.

How difficult is it to make a Bitcoin payment?

Bitcoin payments are easier to make than debit or credit card purchases, and can be received without a merchant account.Payments are made from a wallet application, either on your computer or smartphone, by entering the recipient’s address, the payment amount, and pressing send.To make it easier to enter a recipient’s address, many wallets can obtain the address by scanning a QR code or touching two phones together with NFC technology.

Doesn’t Bitcoin unfairly benefit early adopters?

Some early adopters have large numbers of bitcoins because they took risks and invested time and resources in an unproven technology that was hardly used by anyone and that was much harder to secure properly.Many early adopters spent large numbers of bitcoins quite a few times before they became valuable or bought only small amounts and didn’t make huge gains.There is no guarantee that the price of a bitcoin will increase or drop.This is very similar to investing in an early startup that can either gain value through its usefulness and popularity, or just never break through.Bitcoin is still in its infancy, and it has been designed with a very long-term view; it is hard to imagine how it could be less biased towards early adopters, and today’s users may or may not be the early adopters of tomorrow.

What is Bitcoin mining?

Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together.It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network.This process is referred to as “mining” as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins.Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network.Mining will still be required after the last bitcoin is issued.

Is Bitcoin fully virtual and immaterial?

Bitcoin is as virtual as the credit cards and online banking networks people use everyday.Bitcoin can be used to pay online and in physical stores just like any other form of money.Bitcoins can also be exchanged in physical form such as the Denarium coins, but paying with a mobile phone usually remains more convenient.Bitcoin balances are stored in a large distributed network, and they cannot be fraudulently altered by anybody.In other words, Bitcoin users have exclusive control over their funds and bitcoins cannot vanish just because they are virtual.

Is it time to sell bitcoins?

Experts believe crypto industry is here to stay and grow further.They are expecting to see greater demand coming from the retail sector and institutions in the coming years.

What caused the Bitcoin boom?

While Bitcoin has existed for some time, one of the earliest spikes had been largely attributed to the economic crisis in Cyprus.Cryptocurrency suddenly offered a more appealing way of housing money with the promise of constant access.

Is Bitcoin legal?

To the best of our knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions.However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies.Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.

How do I mine BitcoinZ?

BitcoinZ can be mined using specialized mining software.XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards.CCMiner is another popular mining tool for computers with NVIDIA graphics cards.In addition to having mining software, you will need a BitcoinZ and access to a mining pool that pools your effort with other miners and a wallet to store the BitcoinZ that you earn from mining.Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

Is Bitcoin vulnerable to quantum computing?

Yes, most systems relying on cryptography in general are, including traditional banking systems.However, quantum computers don’t yet exist and probably won’t for a while.In the event that quantum computing could be an imminent threat to Bitcoin, the protocol could be upgraded to use post-quantum algorithms.Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all Bitcoin users.

What Is Bitcoin?

Bitcoin is a digital currency that was created in January 2009.It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto.?? The identity of the person or persons who created the technology is still a mystery.Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and, unlike government-issued currencies, it is operated by a decentralized authority.

How premine benefits the fraudulent founders of a Project exactly?

In the usual scenario where premining is used for unfair practices, the developers of these crypto scams will usually either mine a huge number of the coins before launching it to the public (instamining) or they will have a big percentage % of the total supply of the cryptocurrency allocated to their addresses before the official launch.After this, by hyping and advertising the coin as the new ‘super’ coin, crypto users are likely to create a high demand for the currency which inflates its price.Once the price has been hiked, the original developers sell off, “dumping” their coins in the market.Of course this way the coin’s price plummets, causing financial loss to the users or those who speculated on the increase of the coin’s value.

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Are ICO sold coins premined? Are all premined coins a SCAM?

Yes, coins that have an initial coin offering (ICO) are also premined.This is a requirement becauses this way the coins are availble for pre-sale to the investors and supporters.

What coins are similar to BitcoinZ?

The following coins use BitcoinZ’s Equihash algorithm and proof of work (PoW) proof-type: Zcash, Bitcoin Gold, Horizen, Pirate Chain, Alchemy Pay, Bitcoin Private, ZClassic, Zero, Hush, Bitcoin Interest, VoteCoin, V-Dimension and CrypticCoin.

What is Bitcoin?

While Bitcoin may often be referred to as anonymous money, its blockchain is also perfectly transparent and may be inspected by anybody at will.That apparent contradiction makes it a revolutionary way for people around the world to realize greater financial freedom: Bitcoin does to money what the internet did to information by providing indiscriminate access to a decentralized financial system.

How much will the transaction fee be?

Transactions can be processed without fees, but trying to send free transactions can require waiting days or weeks.Although fees may increase over time, normal fees currently only cost a tiny amount.By default, all Bitcoin wallets listed on Bitcoin.org add what they think is an appropriate fee to your transactions; most of those wallets will also give you chance to review the fee before sending the transaction.

How do I buy BitcoinZ?

It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including BitcoinZ.

Why do I have to wait for confirmation?

Receiving notification of a payment is almost instant with Bitcoin.However, there is a delay before the network begins to confirm your transaction by including it in a block.A confirmation means that there is a consensus on the network that the bitcoins you received haven’t been sent to anyone else and are considered your property.Once your transaction has been included in one block, it will continue to be buried under every block after it, which will exponentially consolidate this consensus and decrease the risk of a reversed transaction.Each confirmation takes between a few seconds and 90 minutes, with 10 minutes being the average.If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take much longer.Every user is free to determine at what point they consider a transaction sufficiently confirmed, but 6 confirmations is often considered to be as safe as waiting 6 months on a credit card transaction.

What is Cryptocurrency?

So what does the term cryptocurrency actually mean? In short, cryptocurrency is virtual/electronic currency that exists on a decentralized, global computer network.Its infrastructure relies on recently developed blockchain technology—an electronic ledger that instantaneously, automatically, and publicly records these virtual currency transactions.Generally speaking, the ledger maintained by each blockchain is an evolving record of all the transactions maintained, simultaneously and in common, by every computer in that blockchain’s network.Each time one computer adds a line to its own copy of the shared ledger, the addition appears in an identical ledger held by every other computer in the blockchain.Once a transaction is confirmed, it will (theoretically) remain in the ledger in perpetuity, inerasable, and unalterable.

What hashing algorithm does BitcoinZ use?

BitcoinZ is a proof of work (PoW) coin that uses the Equihash algorithm.

What does “synchronizing” mean and why does it take so long?

Long synchronization time is only required with full node clients like Bitcoin Core.Technically speaking, synchronizing is the process of downloading and verifying all previous Bitcoin transactions on the network.For some Bitcoin clients to calculate the spendable balance of your Bitcoin wallet and make new transactions, it needs to be aware of all previous transactions.This step can be resource intensive and requires sufficient bandwidth and storage to accommodate the full size of the block chain.For Bitcoin to remain secure, enough people should keep using full node clients because they perform the task of validating and relaying transactions.

What do I need to start mining?

In the early days of Bitcoin, anyone could find a new block using their computer’s CPU.As more and more people started mining, the difficulty of finding new blocks increased greatly to the point where the only cost-effective method of mining today is using specialized hardware.You can visit BitcoinMining.com for more information.

The future of money is digital, but is it bitcoin?

Governments will borrow some elements of the distributed ledger technology behind private cryptocurrencies, but they will very much want to retain control of what circulates as money in their economies.Some will succeed.

Is Bitcoin a bubble?

A fast rise in price does not constitute a bubble.An artificial over-valuation that will lead to a sudden downward correction constitutes a bubble.Choices based on individual human action by hundreds of thousands of market participants is the cause for bitcoin’s price to fluctuate as the market seeks price discovery.Reasons for changes in sentiment may include a loss of confidence in Bitcoin, a large difference between value and price not based on the fundamentals of the Bitcoin economy, increased press coverage stimulating speculative demand, fear of uncertainty, and old-fashioned irrational exuberance and greed.

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What is the value of BitcoinZ?

One BitcoinZ (BTCZ) is currently worth $0.00 on major cryptocurrency exchanges.You can also exchange one BitcoinZ for 0.00000005 bitcoin(s) on major exchanges.The value (or market capitalization) of all available BitcoinZ in U.S.dollars is $25.78 million.

Is Bitcoin anonymous?

Bitcoin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money.However, Bitcoin is not anonymous and cannot offer the same level of privacy as cash.The use of Bitcoin leaves extensive public records.Various mechanisms exist to protect users’ privacy, and more are in development.However, there is still work to be done before these features are used correctly by most Bitcoin users.

Isn’t Bitcoin mining a waste of energy?

Spending energy to secure and operate a payment system is hardly a waste.Like any other payment service, the use of Bitcoin entails processing costs.Services necessary for the operation of currently widespread monetary systems, such as banks, credit cards, and armored vehicles, also use a lot of energy.Although unlike Bitcoin, their total energy consumption is not transparent and cannot be as easily measured.

Btcz on ledger wallet?

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What determines bitcoin’s price?

The price of a bitcoin is determined by supply and demand.When demand for bitcoins increases, the price increases, and when demand falls, the price falls.There is only a limited number of bitcoins in circulation and new bitcoins are created at a predictable and decreasing rate, which means that demand must follow this level of inflation to keep the price stable.Because Bitcoin is still a relatively small market compared to what it could be, it doesn’t take significant amounts of money to move the market price up or down, and thus the price of a bitcoin is still very volatile.

Why do bitcoins have value?

Bitcoins have value because they are useful as a form of money.Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies).In short, Bitcoin is backed by mathematics.With these attributes, all that is required for a form of money to hold value is trust and adoption.In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups.As with all currency, bitcoin’s value comes only and directly from people willing to accept them as payment.

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How does mining help secure Bitcoin?

Mining creates the equivalent of a competitive lottery that makes it very difficult for anyone to consecutively add new blocks of transactions into the block chain.This protects the neutrality of the network by preventing any individual from gaining the power to block certain transactions.This also prevents any individual from replacing parts of the block chain to roll back their own spends, which could be used to defraud other users.Mining makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks following this transaction.

What is BitcoinZ?

BitcoinZ is a proof of work cryptocurrency based on the Equihash algorithm.It also leverages zk-snarks to bring anonymous transactions.BitcoinZ coin claims to be a Community driven Project and that the data about it is dynamically changing.

What… Whatible?

It seems to me that Bitcoin is a pretty poor choice for sanction-busting shenanigans though.Not only is the record of transactions public, but the Bitcoin value is not fungible.This matters.Remember that 2014 IRS Ruling about Bitcoins being a commodity, so that traders would have to track the buying and selling price of each individual Bitcoin in order to assess their tax liability? No? Here’s a reminder : “the real lesson from the IRS Bitcoin ruling is that for a currency-or any payment system-to work, its units must be completely fungible”.

Won’t the finite amount of bitcoins be a limitation?

Bitcoin is unique in that only 21 million bitcoins will ever be created.However, this will never be a limitation because transactions can be denominated in smaller sub-units of a bitcoin, such as bits – there are 1,000,000 bits in 1 bitcoin.Bitcoins can be divided up to 8 decimal places (0.000 000 01) and potentially even smaller units if that is ever required in the future as the average transaction size decreases.

What is the Reddit page for BitcoinZ?

The official Reddit community (subreddit) for BitcoinZ is r/BTCZCommunity.

What if someone creates a better digital currency?

That can happen.For now, Bitcoin remains by far the most popular decentralized virtual currency, but there can be no guarantee that it will retain that position.There is already a set of alternative currencies inspired by Bitcoin.It is however probably correct to assume that significant improvements would be required for a new currency to overtake Bitcoin in terms of established market, even though this remains unpredictable.Bitcoin could also conceivably adopt improvements of a competing currency so long as it doesn’t change fundamental parts of the protocol.

What about Bitcoin and consumer protection?

Bitcoin is freeing people to transact on their own terms.Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts.Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction.This allows innovative dispute mediation services to be developed in the future.Such services could allow a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money.As opposed to cash and other payment methods, Bitcoin always leaves a public proof that a transaction did take place, which can potentially be used in a recourse against businesses with fraudulent practices.

Is Bitcoin safe?

The cryptographic technique that Bitcoin is based on is the same type used by commercial banks to secure their transactions.

Ideal for small transactions?

Bitcoin was once regarded as an ideal system for small electronic payments – so-called micropayments – as it is difficult to transmit small amounts of currency efficiently with existing systems.Credit card fees, also known as swipe fees, can often exceed the value of the purchase, making this costly for retailers.However, the steadily increasing transaction fees for Bitcoin (also known as miner’s fee) have proved to be a barrier preventing it making inroads into the world of micropayments.

Who Is Satoshi Nakamoto?

No one knows who invented bitcoin, or at least not conclusively.Satoshi Nakamoto is the name associated with the person or group of people who released the original bitcoin white paper in 2008 and worked on the original bitcoin software that was released in 2009.In the years since that time, many individuals have either claimed to be or have been suggested as the real-life people behind the pseudonym, but as of January 2021, the true identity (or identities) behind Satoshi remains obscured.

Is Bitcoin a Ponzi scheme?

A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money, or the money paid by subsequent investors, instead of from profit earned by the individuals running the business.Ponzi schemes are designed to collapse at the expense of the last investors when there is not enough new participants.

Where can I get BitcoinZ wallet?

BitcoinZ produces its own wallet software that is available for download on its website, which allows you to store BitcoinZ on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

Is Bitcoin useful for illegal activities?

Bitcoin is money, and money has always been used both for legal and illegal purposes.Cash, credit cards and current banking systems widely surpass Bitcoin in terms of their use to finance crime.Bitcoin can bring significant innovation in payment systems and the benefits of such innovation are often considered to be far beyond their potential drawbacks.

Is Bitcoin secure?

The Bitcoin technology – the protocol and the cryptography – has a strong security track record, and the Bitcoin network is probably the biggest distributed computing project in the world.Bitcoin’s most common vulnerability is in user error.Bitcoin wallet files that store the necessary private keys can be accidentally deleted, lost or stolen.This is pretty similar to physical cash stored in a digital form.Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.

What happens when bitcoins are lost?

When a user loses his wallet, it has the effect of removing money out of circulation.Lost bitcoins still remain in the block chain just like any other bitcoins.However, lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again.Because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate.

What about Bitcoin and taxes?

Bitcoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used.There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Bitcoin.

What is BitcoinZ?

– Bitcoin technology
– Anonymous transactions (zk-SNARKs privacy)
– Bitcoin has all transactions publicly available.

Why bitcoin?

Bitcoins can be used to buy merchandise anonymously.In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation.Small businesses may like them because there are no credit card fees.Some people just buy bitcoins as an investment, hoping that they’ll go up in value.

Not fit for business?

As a currency, Bitcoin is not stable enough for most businesses.The value of a Bitcoin fluctuates dramatically and because there are no controls there is nothing to stop money vanishing if the price tanks.

Why BitcoinZ ?

BITCOINZ is one among the extremely few digital coins, which had a fair launch for everyone.

What is The CoinDesk 20?

The CoinDesk 20 filters from the larger universe of thousands of cryptocurrencies and digital assets to define a core group of 20.

Why do people trust Bitcoin?

Much of the trust in Bitcoin comes from the fact that it requires no trust at all.Bitcoin is fully open-source and decentralized.This means that anyone has access to the entire source code at any time.Any developer in the world can therefore verify exactly how Bitcoin works.All transactions and bitcoins issued into existence can be transparently consulted in real-time by anyone.All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking.No organization or individual can control Bitcoin, and the network remains secure even if not all of its users can be trusted.

What if someone bought up all the existing bitcoins?

Only a fraction of bitcoins issued to date are found on the exchange markets for sale.Bitcoin markets are competitive, meaning the price of a bitcoin will rise or fall depending on supply and demand.Additionally, new bitcoins will continue to be issued for decades to come.Therefore even the most determined buyer could not buy all the bitcoins in existence.This situation isn’t to suggest, however, that the markets aren’t vulnerable to price manipulation; it still doesn’t take significant amounts of money to move the market price up or down, and thus Bitcoin remains a volatile asset thus far.

Won’t Bitcoin fall in a deflationary spiral?

The deflationary spiral theory says that if prices are expected to fall, people will move purchases into the future in order to benefit from the lower prices.That fall in demand will in turn cause merchants to lower their prices to try and stimulate demand, making the problem worse and leading to an economic depression.

Question, how to know if rig has a problem?

Hello! I'm Bitcoinz mining and am wondering if my rig has an issue.

What is Bitcoin?

Bitcoin 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.From a user perspective, Bitcoin is pretty much like cash for the Internet.Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

What if I receive a bitcoin when my computer is powered off?

This works fine.The bitcoins will appear next time you start your wallet application.Bitcoins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the network.If you are sent bitcoins when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the bitcoins will eventually appear as if they were just received in real time.Your wallet is only needed when you wish to spend bitcoins.

Who created Bitcoin?

Bitcoin is the first implementation of a concept called “cryptocurrency”, which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority.The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto.Satoshi left the project in late 2010 without revealing much about himself.The community has since grown exponentially with many developers working on Bitcoin.

What is BitcoinZ ?

BITCOINZ (BTCZ) is a revolutionary digital coin (cryptocurrency) that was launched by anonymous founders as a gift to the world.

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Who controls the Bitcoin network?

Nobody owns the Bitcoin network much like no one owns the technology behind email.Bitcoin is controlled by all Bitcoin users around the world.While developers are improving the software, they can’t force a change in the Bitcoin protocol because all users are free to choose what software and version they use.In order to stay compatible with each other, all users need to use software complying with the same rules.Bitcoin can only work correctly with a complete consensus among all users.Therefore, all users and developers have a strong incentive to protect this consensus.

Why?

Bitcoin can also be a store of value, some have said it is a “swiss bank account in your pocket”.

History of BitcoinZ