What does BITCOIN mean?

Definitions for BITCOIN
BITCOIN

Here are all the possible meanings and translations of the word BITCOIN.

Freebase

  1. Bitcoin

    Bitcoin is a distributed, peer-to-peer digital currency that functions without the intermediation of any central authority. The concept was introduced in a 2008 paper by a pseudonymous developer known as "Satoshi Nakamoto". Bitcoin has been called a cryptocurrency because it is decentralized and uses cryptography to control transactions and prevent double-spending, a problem for digital currencies. Once validated, every individual transaction is permanently recorded in a public ledger known as the blockchain. Payment processing is done by a network of private computers often specially tailored to this task. The operators of these computers, known as "miners", are rewarded with transaction fees and newly minted Bitcoins. However, new Bitcoins are created at an ever-decreasing rate. In 2012, The Economist reasoned that Bitcoin has been popular because of "its role in dodgy online markets," and in 2013 the FBI shut down one such service, Silk Road, which specialized in illegal drugs. However, Bitcoins are increasingly used as payment for legitimate products and services, and merchants have an incentive to accept the currency because transaction fees are lower than the 2 to 3% typically imposed by credit card processors. Notable vendors include WordPress, OkCupid, Reddit, and Chinese Internet giant Baidu.

How to pronounce BITCOIN?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say BITCOIN in sign language?

  1. bitcoin

Numerology

  1. Chaldean Numerology

    The numerical value of BITCOIN in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of BITCOIN in Pythagorean Numerology is: 9

Examples of BITCOIN in a Sentence

  1. Marshall Hayner:

    Bitcoin is the mother crypto.

  2. Michael Novogratz:

    Out of the rubble, bitcoin has popped back up.

  3. Joe Duncan:

    But bitcoin could still lose some market dominance.

  4. Zane Tackett:

    The bitcoin was stolen from users' segregated wallets.

  5. Mike Hearn:

    If we thought it might be the end of bitcoin, we wouldn't do it.

Images & Illustrations of BITCOIN

  1. BITCOINBITCOINBITCOINBITCOINBITCOIN


Translations for BITCOIN

From our Multilingual Translation Dictionary

Get even more translations for BITCOIN »

Translation

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  • Chinese - Simplified 简体中文 (Chinese - Simplified)
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  • Yiddish ייִדיש (Yiddish)
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  • English English (English)

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"BITCOIN." Definitions.net. STANDS4 LLC, 2019. Web. 20 Jul 2019. <https://www.definitions.net/definition/BITCOIN>.

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