Techonomy

How many Bitcoin are there now? Due 1st June 2017, there are 16,366,275 BTC out of the total 21 million cap. Here comes the questions why is it 21 million cap?  Why 21 million cap? A block introduces 50 new coins into the bitcoin ecosystem. This quantity mined halves every 210,000 blocks. What does mined halves means? For instance, the reward for mining a block was most recently cut in half on July 9th, 2016 from 25 bitcoin to 12.5 bitcoins as reward for solving the Byzantine general's problem. The next halving event occurs every four years with the next one slated for 2020 with a block reward amount of 6.25 bitcoins.  By using the formula of geometric series : Then another questions comes... what will happen when reach 21 millions cap?  We estimate to reach 21 million cap by 2141 year. What happen next? Effects on Bitcoin Miners: Very simple theory, Bitcoin Miners will lost their jobs. Imagine that when the bitcoin is reaching the cap o...

What is ICO? Initial Coin offering (ICO) is a fund raising campaign by startups. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies but usually for Bitcoin. It is also called as Initial Public Coin Offering (IPCO) Deeper to the ICO! In a cryptocurrency startup firm, if they would want to raise money through an ICO, it usually creates a plan on a whitepaper which states what the project is about, what need the project will fulfill upon completion, how much money is needed to undertake the venture, how much of the virtual tokens the pioneers of the project will keep for themselves, what type of money is accepted, and how long the ICO campaign will run for. These coins are similar to shares of a company sold to investors in an Initial Public Offering (IPO) transaction. If the money raised does not meet the minimum funds required by the firm, the money is returned to the backers and t...

Bitcoin - private key Private key is an important part in moving and storing Bitcoin. The easiest way to understand private keys is to think about an old-fashioned mailbox system: Let's say Maria wants to send mail to Peter. First she needs to know what Peter's mailbox address is. Let's say Peter's mailbox is number 2001. Similarly, if she wants to send Bitcoin to Peter, she needs to know his Bitcoin address, which is a number that uniquely identifies him. This is also sometimes called his wallet address or public key , which functions similar to your bank account number. It's a long and complicated number because there are so many Bitcoin post boxes in the world. So now Maria deposits the Bitcoin in Peter's mailbox. She can have a peek inside and see the Bitcoin there, in fact anyone who walks by can see that mailbox 2001 is filled with one Bitcoin. This is part of the exciting part of Bitcoin - that everyone can see all the transactions but without an...

- What is it? A digital currency, used to make payments of any value without fees. In other word, it means cryptocurrency is one of the category under digital money. It runs on the blockchain, a decentralised ledger kept running by 'miners' - the computers, and are rewarded in bitcoins. the money of future maybe? - Who invented it? Satoshi Nakamoto, a secretive internet user, invented bitcoin in 2008 and went online in 2009. Satoshi is now not yet been identified. No one really know who or what Satoshi is... - What's it for? People see value in money free from government control and the fees banks charge; as well as the blockchain, to verify transactions. Bitcoin has been seen as a tool for private, anonymous transactions and it's the payment of choice for drug deals and other illegal purchases - What is Bitcoin Cash? In August 2017, the blockchain forked to support another cryptocurrency, Bitcoin Cash, which is optimised slightly differently. People who held...

Digital Currency Digital currency is a payment method which exists only in electronic form and is not tangible. Digital currency can be transferred between entities or users with the help of technology. Although it is similar to physical currencies, digital money allows borderless transfer of ownership as well as instantaneous transactions. Digital currency is also known as digital money and cybercash. Digital currency currently has only a limited user base and regulatory framework as well as tax treatments of digital currencies is still evolving. In Malaysia, any regulatory framework on digital currency isn't yet to the specific level that should be. Cryptocurrencies and virtual currencies are categories of digital currencies. Digital currencies can eliminate intermediaries, process steps and costs unlike the traditional payment methods. It can also help in making the funds flow more simple and transparent. At present, digital currencies are not accepted by bank and as a re...

Today of 4th September 2017, It's only a short 4 days, the whole bitcoin value has been descended in a range of 100USD to 700 USD. The Questions is WHY? On 2nd September (Saturday), the bitcoin has been rose to a peak where it reached above 5000USD for the first time. In Malaysia currency, it reached above RM 21 thousands for the first time, it is a good thing if you sell at that time but you never know when is the peak. So why do I say it's a good thing? The price drops as there is the biggest sell off. At press time, the total value of all publicly traded cryptocurrencies was $166billion, a figure that was down more than 7 percent from a high of nealy $180 billion. The decline was similar to what was observed on bitcoin, with average global prices declining from a high of $5,013.91 to a low of $4,619.97, a more than $250 decline. The largest sell off in cryptocurrency market since mid-July has make the price of bitcoin drop largely and rapidly. It is really shows tha...