Are words such as mining, proof-of-work, hash value and ETF alien to you? Do you ask yourself why people buy Bitcoin, governments forbid the use of the currency and banks warn against it? Would you like to get clear and understandable answers?
Then you have come to the right place. This book provides an overview of how Bitcoin works, possible risks and opportunities, and what you should consider when investing or mining.
Additionally, you will also find an overview of alternative cryptocurrencies, possible applications of blockchain technology in the future and ICOs.
Dieses Buch ist auch auf Deutsch unter dem Titel “Die Kryptowährung Bitcoin. Geschichte, Funktionsweise, Sicherheit und Wirtschaftliche Aspekte” verfügbar.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- 1. Introduction
- 2. Functionality and Technology
- 2.1 Wallets, Addresses and Clients.
- 2.1.1 Soft Wallets
- 2.1.2 Hard Wallets
- 2.2 Blockchain and Consensus Mechanisms
- 2.3 Transactions.
- 2.4 The Bitcoin Scalability Problem
- 2.1 Wallets, Addresses and Clients.
- 3. History..
- 3.1 Satoshi Nakamoto.
- 3.2 Most Important Events and Share Price Performance...
- 4. Security.
- 5. Sources of Bitcoin
- 5.1 Mining....
- 5.2 Trade..........\n5.2.1 Exchange for Other Currencies......
- 6. Risks and Problems.
- 7. Chances and Possible Applications
- 7.1 Potential Use ..
- 7.2 Increase in Value Potential and Means of Investment..........\n7.2.1 ETFs
- 8. Altcoins
- 9. Review
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to provide a comprehensive overview of the digital currency Bitcoin, including its functionality, history, security aspects, and economic implications. It examines the potential and risks associated with this cryptocurrency, exploring its evolution and the key players involved in its development.
- Functionality and Technology of Bitcoin
- History of Bitcoin and its Development
- Security Aspects and Anonymity
- Sources of Bitcoin and its Economic Implications
- Risks and Challenges Associated with Bitcoin
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides a basic understanding of Bitcoin as a decentralized digital currency, highlighting its purpose, key features, and the mining process. Chapter 2 delves into the technical aspects of Bitcoin, discussing various types of wallets, blockchain technology, and consensus mechanisms like Proof-of-Work.
Chapter 3 explores the history of Bitcoin, focusing on the role of Satoshi Nakamoto and significant events that shaped its trajectory. Chapter 4 examines security aspects, including anonymity, cryptography, and methods like cold storage. Chapter 5 explains the different sources of Bitcoin, covering mining, trading, and its use as a means of payment.
Schlüsselwörter (Keywords)
The key focus topics of this paper include Bitcoin, cryptocurrency, decentralized system, blockchain, mining, wallets, consensus mechanisms, security, anonymity, cryptography, trade, risks, opportunities, altcoins, and potential applications.
- Quote paper
- Mark Strutzenberger (Author), 2019, The cryptocurrency Bitcoin. Its history, functional principles, security and economic aspects, Munich, GRIN Verlag, https://www.grin.com/document/504416
