With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It 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. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
Who created Bitcoin?
he first Bitcoin specification and proof of concept was published in 2009 by an unknown individual under the pseudonym Satoshi Nakamoto who revealed little about himself and left the project in late 2010. The Bitcoin community has since grown exponentially.
Satoshi's anonymity often raises unjustified concerns because of a misunderstanding of Bitcoin's open-source nature. Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.
Who is involved in Bitcoin?
Over $1B of investment into Bitcoin and blockchain companies has taken place resulting in thousands of companies and hundreds of thousands of individuals involved from around the world.
What is the Blockchain?
Who controls the Bitcoin network?
Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin miners which has an entire industry and Bitcoin cloud mining options. While developers are improving the software they cannot 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.
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 enables a user to send and receive bitcoins.
Behind the scenes, the Bitcoin network is sharing a massive public ledger called the "block chain". This ledger contains every transaction ever processed which enables a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses therefore allowing all users to have full control over sending bitcoins.
Thus, there is no fraud, no chargebacks and no identifying information that could be compromised resulting in identity theft. To learn more about Bitcoin, you can consult the original Bitcoin whitepaper, read through the extremely thorough Frequently Asked Questions, listen to a Bitcoin podcast or read the latest Bitcoin news.
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Many people new to Bitcoin are curious about how to get some. Bitcoin faucets, places where bitcoins are given away for free, have been a part of spreading Bitcoin since the earliest days. But one problem is running out of bitcoins to give! That is why we have figured out a sustainable way to give away free bitcoins with sponsors.
URL shortening is a technique on the World Wide Web in which a Uniform Resource Locator (URL) may be made substantially shorter and still direct to the required page. This is achieved by using a redirect, often on a domain name that is even shorter than the original one, which links to the web page that has a long URL. For example, the URL "http://example.com/assets/category_B/subcategory_C/Foo/" can be shortened to "https://example.com/Foo", and the URL "http://example.com/about/index.html" can be shortened to "https://goo.gl/aO3Ssc".
This is convenient for any of the reasons why a friendly URL may be desired, such as for messaging technologies that limit the number of characters in a message (for example, SMS), for reducing the amount of typing required if the reader is copying a URL from a print source, for making it easier for a person to remember, or for the intention of a permalink. In November 2009, the shortened links of the URL shortening service Bitly were accessed 2.1 billion times
Why to use link shortening?
There are several reasons to use URL shortening. Often regular unshortened links may be aesthetically unpleasing. Many web developers pass descriptive attributes in the URL to represent data hierarchies, command structures, transaction paths or session information. This can result in URLs that are hundreds of characters long and that contain complex character patterns. Such URLs are difficult to memorize, type-out or distribute. As a result, long URLs must be copied-and-pasted for reliability. Thus, short URLs may be more convenient for websites or hard copy publications (e.g. a printed magazine or a book), the latter often requiring that very long strings be broken into multiple lines (as is the case with some e-mail software or internet forums) or truncated.
On Twitter and some instant-messaging services, there is a limit to the number of characters a message can carry. Using a URL shortener can allow linking to web pages which would otherwise violate this constraint. Some shortening services, such as goo.gl, tinyurl.com, and bit.ly can generate URLs that are human-readable, although the resulting strings are longer than those generated by a length-optimized service. Finally, URL shortening sites provide detailed information on the clicks a link receives, which can be simpler than setting up an equally powerful server-side analytics engine.
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