Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto in 2008 and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Other related questions:
Q: How do I view blockchain transaction history?
A: There are a few ways to view blockchain transaction history. One way is to use a blockchain explorer like Blockchain.info or Blockcypher.com. Another way is to use a Bitcoin wallet like Blockchain.info or Breadwallet.
Q: How do I find an old lost Bitcoin?
A: Unfortunately, there is no sure way to find a lost Bitcoin. However, there are a few things you can do to try and find it:
1. Check all the wallets you’ve ever used – it’s possible that you simply forgot which wallet you used to store your Bitcoin.
2. Try using a Bitcoin block explorer like Blocktrail or Blockchain.info to search for any addresses associated with your wallet – you may be able to find your Bitcoin this way.
3. If you had a Bitcoin paper wallet, you can try using a service like Bitaddress.org to try and “sweep” your private key into a new wallet. This may allow you to access your Bitcoin if it is still associated with that private key.
4. Finally, you can try contacting a Bitcoin recovery service like Wallet Recovery Services. These services may be able to help you recover your Bitcoin if you have additional information about your wallet, such as your seed phrase.
Q: Can you trace all Bitcoin transactions?
A: No, Bitcoin transactions cannot be traced.
- How To Find a Bitcoin Transaction On Blockchain – Stilt
- How can I look up a transaction on the blockchain
- Storing and Querying Bitcoin Blockchain Using SQL Databases
- 5. Transactions – Mastering Bitcoin [Book] – O’Reilly