Bitcoin (BTC)

Digital, tamperproof and openly traded money

#1

Marketcap Ranking

19,057.20 (-0.09%) arrow_drop_down

Market Price (24h change)

353,755,546,284

Total Market Cap

4.4

4.4

info_outline What is Bitcoin

5.0

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Bitcoin Short Description

The theory behind Bitcoin was first described by Satoshi Nakomoto in a whitepaper: A Peer to Peer Electronic Cash System published to a cryptographic mailing list on the 31st of October 2008. In this paper, Satoshi described the protocol (Proof of Work) that would solve the double-spend problem inherent in non-physical (digital) forms of currency. The first or Genesis block was mined by Satoshi on the 3rd of January 2009, with the text -The Times 03/Jan/2009 Chancellor on brink of second bailout for banks- written into the coinbase of the block

31st October 2008 - White paper released by Satoshi Nakomoto. 3rd January 2009 - Genesis block mined by Satoshi Nakomoto. 12th January 2009 - First transaction using Bitcoin; Satoshi Nakomoto sends 100 BTC to Hal Finney. 22nd May 2010 - First recorded commercial transaction using Bitcoin; aka Pizza Day. 14th January 2016 - Lightning Network white paper, a Layer-2 solution to scaling Bitcoin. 1st August 2017 - Bitcoin Cash (BCH) hard fork. 23rd August 2017 - Segregated Witness (SegWit) implemented.

Decentralized access allowing any party with the open-source software and internet access to send and receive Bitcoin irreversibly without third party interference or trust. Decentralized governance via open-source development and forking. Relatively slow block times in comparison to other crypto-currencies although there are solutions in development such as the Lightning Network aiming to solve the problem of scaling.

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Bitcoin Explanation Video

But how does bitcoin actually work? | 3Blue1Brown

The math behind cryptocurrencies. Home page: https://www.3blue1brown.com/ Brought to you by you: http://3b1b.co/btc-thanks And by Protocol Labs: https://protocol.ai/join/ Some peo ...

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bitcoin.orgen/
Bitcoin Websitemore_vert

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Website Informationclose

Organization: WhoisGuard, Inc.
Name: WhoisGuard Protected
Country: PA
City: Panama
Zipcode: Unknown
Address: P.O. Box 0823-03411
Mail: abuse@namecheap.com
Creation date: 2008-08-18
Expiration date: 2029-08-18
Nameserver: DNS1.REGISTRAR-SERVERS.COM

build Bitcoin Product Analysis

4.9

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Bitcoin Whitepaper

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network.


The whitepaper of Bitcoin is 9 Pages long.

The most influencial keywords are: Transact, Block, Nodes, Hashing, Hashed, Timestamped, Chain, Proof, Double, and Works.

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Bitcoin Competitors

  • 1.) ATBCoin

    ATB Coin is an innovative decentralized cryptocurrency incorporating the best advanced technologies and satisfies the needs of all market players to the best advantage – users, investors and business owners. This universal payment tool differs significantly from other cryptocurrencies due to a number of innovations, but at the same time has such important qualities as decentralization and anonymity.

  • 2.) Bitcoin Atom

    Bitcoin Atom (BCA) is a SegWit enabled Bitcoin fork with atomic swaps, hybrid consensus and lightning network.

  • 3.) Emercoin

    Emercoin - Distributed blockchain services for business and personal use

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Bitcoin Product Analysis

Bitcoin was founded back in January 2009. Its source code was released publicly on github on December 2010 under the MIT License license.
Organization wise, Bitcoins Development is Decentralized and is being developed under the lead of Wladimir J. van der Laan.

The consensus on which the Bitcoin network is run is called Proof of Work, while the underlying algorithm is called SHA256.
In the current state of Bitcoin currently is Working product

group Bitcoin Community Analysis

4.6

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Bitcoin Communities & Events

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.

view_list r/bitcoin Subreddit
person 1,796,160 Subscribers
directions_run 5,042 Active Users
create 162 Daily Posts
speaker_notes 1,907 Daily Comments
linkOpen Subreddit

There is no official Telegram Channel for BTC yet

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person Members
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Official Twitter account for Bitcoin

view_list @bitcoincoreorg Channel
person 101,878 Followers
08.01.2020
13:15
Bitcoin Core 0.20.1 was released It is available from https://t.co/Uy9NJ11mih (main website update pending) Release mail: https://t.co/95MXgRvN7Z 526 favorite
06.03.2020
11:15
Bitcoin Core 0.20.0 was released! It is available from https://t.co/WpMuMaejz1 Release mail: https://t.co/Q9X9tLIoFX 853 favorite
03.16.2020
11:10
Translations for the upcoming 0.20 release have opened, please help with localization of Bitcoin Core in your language: https://t.co/pzfvaYOMdZ 106 favorite
03.09.2020
13:15
Bitcoin Core 0.19.1 was released! https://t.co/h0iR4Oqrps 757 favorite
11.24.2019
11:10
Bitcoin Core 0.19.0(.1) was released! https://t.co/iE3Bd0H5pO Release notes: https://t.co/741TxACPay 750 favorite
08.09.2019
11:02
Bitcoin Core 0.18.1 Released! https://t.co/uSV3Mxfk6G 874 favorite
05.02.2019
10:55
Bitcoin Core 0.18.0 Released! https://t.co/T2UPgqK9ga 1,129 favorite
12.25.2018
09:48
Bitcoin Core 0.17.1 Released https://t.co/afp0glUdkD Happy holidays! 1,027 favorite
10.03.2018
11:48
Bitcoin Core 0.17.0 Released https://t.co/ciwCREngon 682 favorite
09.29.2018
05:46
Bitcoin Core 0.15.2 was released https://t.co/Hppk5ZD9D5 This is a backport release with CVE-2018-17144 vulnerability fix 157 favorite

There are no events for Bitcoin in the next 3 Months

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Bitcoin Google Trends


The Google Trends chart displays the search interest on google in Bitcoin relative to its peak over the last year. A rising chart shows growing interest int he project.

code Bitcoin Development Analysis

4.7

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Bitcoin Github Analysis

Code Updates (Commits)


Every change to the codebase of Bitcoin is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 46,357 Stars
remove_red_eye 3,593 Watchers
usb 26,746 Forks
sync_problem 991 Open Issues
border_color 10.88 % Comment Coverage
lock_open MIT License License

attach_money Bitcoin Price Analysis

4.8

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Bitcoin Price Prediction

$ 18,954.18 (-0.65%) arrow_drop_down

Predicted USD Market Price in 24h by Coinpaper

$ 20,032.01 (5%) arrow_drop_up

Predicted USD Market Price in 14d by Coinpaper

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Converter BTC - USD

Convert between BTC and USD with the live Bitcoin prices, aggregated from all big exchanges that trade Bitcoin.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle Bitcoin Team Analysis

4.9

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Bitcoin Team

Bitcoin Team Leader

Satoshi Nakamoto - Founder
Satoshi Nakamoto is the name used by the unknown person or people who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, they also devised the first blockchain database.In the process, they were the first to solve the double-spending problem for digital currency using a peer-to-peer network. They were active in the development of bitcoin up until December 2010.


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Bitcoin Team Members (3)

launch

Wladimir J. van der Laan

Blockchain developer

launch

Marco Falke

Blockchain developer

remove_red_eye Bitcoin Product Review by Coinpaper

4.5

Bitcoin Product description

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In 2009, the concept of a peer-to-peer electronic payment system was published in a whitepaper that revolutionized the world and laid foundations for the birth of a multi-billion dollar industry of cryptocurrencies. Little did anyone know that the technologies and applications the cryptocurrencies provide will offer so much in value and open doors for further innovations. Bitcoin was the very first cryptocurrency to be accepted as a peer-to-peer version of an electronic payment system, therefore opening doors for other cryptocurrencies to be born.
The primary aim behind the inception of Bitcoin was to provide people with an easier and more efficient means of transaction that was not under the authority of any institution. Apart from the decentralization concept, it intended to solve the delay and time-costly transactional processes and cut down on the fee charges. Bitcoin, in summary, was trying to achieve the same functionality as companies like PayPal, but attempted to save users their money and render these third-party systems obsolete and useless (Nakamoto, 2009).

4.9

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The actual product or the application of the Bitcoin network is mainly for transactional purposes. Within 10 years, 350 million transactions have been processed by the Bitcoin network since 2009. The network allows up to 7 transactions per second and the transactional speeds are in seconds (Blockchain.com, 2019).

4.4

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The founder of Bitcoin has remained a mystery to the whole world. The founder goes by the name of Satoshi Nakamoto and it is still unclear as to whether this name is real or a pseudonym. The smallest Bitcoin amount that can be transferred is named after him and is known as 1 Satoshi (0.00000001 BTC). After the founder of the Bitcoin, it is the lead developer Wladimir J. van der Laan who has earned the trust and support of previous developers and the Bitcoin community on the whole. Vladimir is not involved in any other projects and is working solely for Bitcoin (Bitcoin Wiki, 2015).

4.0

How things stand for Bitcoin

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Bitcoin saw the peak of its glory in the ‘bull-run’ of 2017-2018 when it increased by tenfold and took the whole world by storm. However, after that, its popularity took a major hit. The number of newspapers and websites willing to write and publish articles about Bitcoin reduced drastically, as more and more alternative cryptocurrencies stormed the market each day.
Currently, Bitcoin holds around 50% of the market capitalization of all cryptocurrencies available and is getting accepted by more and more businesses. Recently, Bitcoin was announced as a legal medium for the general public to pay their taxes in the State of Ohio. With this major development in November 2018, it is likely that more states will follow in introducing similar incentives (Ma, 2019).

4.5

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The Bitcoin community works actively at all times to update and improve its code. With its tech-savvy users and many developers present on the network, the code is updated and upgraded quite frequently. Some developers have also managed to push their work directly to the source code. The lead developer right now is Vladimir J. van der Laan, who was nominated by the last leader in 2011 (Github, 2019).

4.5

Bitcoin Pro/Contra

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Security Relatively high. Bitcoin has been around for 10 years and its stability and security have been proven multiple times. Miners have an incentive to mine Bitcoin as the rewards are high and the cryptocurrency world relies on Bitcoin.
Adoption Bitcoin is the most accepted coin of all cryptocurrencies.
Decentralization The coin is fully decentralized.
Product availability Bitcoin is already being used by multiple merchants.
Exchange availability Every cryptocurrency exchange lists Bitcoin. Most exchanges use Bitcoin as trading pairs with other cryptocurrencies.
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Transactions per second Bitcoin can currently handle seven transactions per second. For global usage as a digital payment system it should handle at least 1000 transactions per second. VISA handled roughly 1667 TPS in the year 2016.
Transaction speed Bitcoin transactions are faster compared to transaction times for bank transfers, but they are much slower than other cryptocurrencies.
Transaction cost Bitcoin fees are relatively low compared to the fees banks charge for their transactions, but they are much higher than fees of other cryptocurrencies.
Energy consumption Bitcoin miners used 73 TWh of energy in 2017 which is equivalent to 0.33% of the global energy consumption.
Privacy Bitcoin transactions are not anonymous. They are pseudonymous, which means every user on the network can trace, track and analyse the transactional history of other users. If you have Bitcoins worth of a hundred thousand dollars and you pay your coffee from that Bitcoin address, then the coffeeshop owner will know your balance and can check all of your transactions.

remove_red_eye Bitcoin Market Review by Coinpaper

4.4

Bitcoin Foresight

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Bitcoin has laid down the foundations for a global digital payment system and sooner or later, this vision will become a reality. Though, it is difficult to predict whether it would be Bitcoin, or some other cryptocurrency based on Blockchain or even some altcoin based on new technology. For Bitcoin to remain in the number game, it needs to address issues related to its transactional speed, transactional limits and the energy-intensive nature of its processes. If it can successfully solve these problems, it can maintain its position as the industry leader. Bitcoin still might be the future gold of cryptocurrencies.

4.5

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Bitcoin developers are researching and working on many different projects some of which are already in their development phase. There could potentially be voting systems within the Blockchain network or possibilities for crowdfunding campaigns, but none of it is certain. It will take time to get unveiled for the general public.

4.5

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The potential that Bitcoin holds has been on for show time and time again, and to say that it is massive would be an understatement. If the team successfully solves the related issues plaguing other cryptocurrencies, Bitcoin can find itself at the centre of all-digital payment systems. The number of businesses to accept Bitcoin will increase drastically and there can come a day when Bitcoin would be used for small scale day-to-day transactions.

4.8

Bitcoin Business Case

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There are many altcoins (alternative cryptocurrencies) that are aiming to achieve what Bitcoin had announced in its whitepaper. Each technology claims that they offer better transaction speed, less transactional limits, pseudonymity, programmable contracts (smart contracts) and fewer price charges, in some way or another. Coins like Monero (privacy), Ethereum (smart contracts) and Nano (scalable, energy saving and feeless) have managed to offer these benefits to an extent.

3.4

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Although, no official partnership has been announced by any business with Bitcoin, the popularity and originality of the technology are enough to help it grab the attention of many businesses worldwide. If some business accepts cryptocurrencies as a payment method, rest assured Bitcoin is always there at the top. Even Microsoft now allows users to deposit Bitcoin on their accounts (Microsoft, 2018) and companies like Expedia give their users the option to book hotels using Bitcoin (Street, 2014).

4.5

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Bitcoin’s community is very active and remains one of the strongest communities to date. Though the number of people that trade with Bitcoin has decreased drastically with time, many people are still ‘HODL-ing’ (holding/storing) the tokens in the hope of large returns on their investments.

4.8

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Satoshi Nakamoto is the pseudonym used for the mind behind the Bitcoin vision though nobody knows his real identity or whereabouts. The current lead developer of the Bitcoin network is Wladimir J. van der Laan (laanwj) who has been working on the current post since 2014. (Bitcoin Wiki, 2015).

4.0

compare_arrows Bitcoin Exchanges

Bitcoin Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Binance BTC/USDT $ 19,069.43 $ 1,225,003,149 check
# 2 Coinbase Pro BTC/USD $ 19,031.22 $ 248,264,602 check
# 3 Binance BTC/ETH $ 19,061.24 $ 209,518,422 check
# 4 Binance BTC/BUSD $ 19,070.90 $ 195,953,069 check
# 5 Bitfinex BTC/USD $ 19,032.00 $ 150,168,753 check
# 6 bitFlyer BTC/JPY $ 19,054.03 $ 103,129,239 check
# 7 Bitstamp BTC/USD $ 19,039.40 $ 98,250,216 check
# 8 Kraken BTC/USD $ 19,038.30 $ 97,230,190 check
# 9 Kraken BTC/EUR $ 19,095.74 $ 84,968,276 check
# 10 Binance BTC/USDC $ 19,051.35 $ 37,535,761 check

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