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How does Bitcoin work? | Introduction to Bitcoin and BlockchainIntroduction Bitcoin, the world largest digital currency, was launched in 2009 and currently reached a market cap of over 200 billion dollars. But still, most of the people don’t understand how it actually works, so this is why we are here. Unlike the fiat currencies that we are familiar with, owned or controlled by central banks, Bitcoin has no central authority. But what happens when I don’t have a central authority to verify that everyone is actually doing his job and following the network rules? How to prevent the double spending without the central group? How to automatically keep tracking of all balances and transactions? How it works: Bitcoin as a network runs on a protocol known as the blockchain. Each blockchain is unique to each individual user and his/her personal bitcoin wallet. To get a digital network we need accounts, balances and to make a transaction. Until now it is easy to understand. One big problem every payment provider needs to solve, its own name, Double Spending. The same amount spent twice, usually prevented and monitored by a central group, that keeps track on the balances. In a decentralized network, you do not have this group, so everyone who is related to the network has a job to do. All bitcoin transactions are logged and made available in a public ledger and must be verified by miners on the blockchain, helping ensure their authenticity and preventing fraud; prevent transactions from being duplicated and people from copying bitcoins. While every Bitcoin records the digital address of every wallet it touches, the bitcoin system does NOT record the names of the individuals who own wallets. Current status Satoshi Nakamoto was the first one, not only to answer all of those questions – but actually to make others thoughts into a reality. His system has been proven in achieving consensus without any central group. The confirmation is a critical concept in the cryptocurrency system. The transaction is known in the whole network almost in the same moment it placed. However, only after a specific time, it will be confirmed. It can not be reversed and it becomes officially part of the blockchain. The only one who can confirm the transactions are the miners, that’s their role in the cryptocurrency-network. They receive the transactions, verify them and spread them in the whole network. The miners get rewarded with a token of the crypto-network they are involved in, for example with Bitcoins in the Bitcoin network. New Crypto Course: readbtc.com Buy Bitcoin via Credit Card: readbtc.com Need a Plan? Get an Expert: readbtc.com
BITFINEX:BTCUSDEducation
by ReadBTC
ZCASH (ZEC) POSSIBLE BREAKOUT? Keep an eye on this!ZEC is looking great, symetrical triangle with no hidden bearish or bullish divergence. How are you able to profit of this trade? Just follow the price! Look for a bearish or bullish breakout, its a very easy TA to do for beginners. Keep an eye open, if the volume increases and a breakout is happening, short or long, depending on the side of the breakout. I also added a possible elliot wave, however this wave looks off since it doesn't follow the "right" trend. So i don't think we are in a correction yet, but that this is simply the first, extended, elliot wave. The ZECBTC chart is looking great too, it looks like it has hit a double bottom and wants to go up on the daily chart, and on the hourly chart we can see a symetrical triangle with hidden bullish divergence using RSI. Profit level: 411 dollar (.382 fib retracement) Buy in level: breakout Follow and like this chart for live updates regarding breakout! You're an adopter, you deserve this.
BITFINEX:ZECUSD
by JaimeKing
XVGBTC short term versus longer termI am still a novice trader and welcome any and all constructive criticism. I have been waiting for XVG to end its decline and see where it goes due to its somewhat controversial status (pump and dump or not). I was hoping to ride a short term trend for some smaller sized profits but missed my entry. I am now going to exercise patience and wait until the price returns to or near the 4 hour trendline to look to go long. If it breaks the 4 hour trendline I will wait and look back to the past to find the next level of support. Good luck and happy trading!
XLong
by Cannastotle
Zilliqa looking for a last wave upZilliqa has been performing pretty good these days and still the chart looks really good and alot of room to grow. 4 waves have been counted we are looking for the last wave wich is the 5th one. Also it looks like it is forming an acending triangle pattern wich is bullish. Right now, for me this is a no trade zone, I would buy on confirmation the confirmation to buy would be the break of the resistance level and a close above it to prevent bull traps. The target would be the wave 3 resistance (1262 sats) wich I think it will not break on the 1st try. The second target would be the wave 5 (1543 sats) The R:R for the 1st target is 4.5 ratio wich is a very good risk to rewards ratio with a gain of 12%. My opinion is that this will go sideways untill it hit the apex (green triangle) of the acending triangle and then will break out of it.
Long
by Smilao
EURGBP bearish setup I would love to hear some opinions about this setup I made. I am a beginner trader and don't trade with real money yet. I saw price came from 0.9300 and went to a decending channel. right now it went a little under the low of the channel, and under a supportline as well. The problem is that it went almost straight back above 0.8654, and back in the decending triangle(which I'm not totally sure if thats a good triangle) If somebody can correct me or say whats good or bad, that would be awesome! The more I learn, the better!
Short
by Florian_Glas
BTCUSDT Binance Most Likely IdeaI am a beginner trader in crypto but finally I'm starting to lock in some small profits and in the meantime gain some experience. I am posting here as an idea and by every trade you do is at your own risk, understand that trading cryptocurrency is a very risky. The beashish pennant formed exactly as the right inverted shoulder was being completed and a small false breakout happened after crossing the neckline. The size of the mast of the bearish pennat should give us a correction until hopefully we will reach the buy area around 9600 USDT. BTC should hopefully bounce off the soft resistance off the Fibonnaci and head upwards again. If it breaks through the soft support, then we will be looking at a further downtrend until we reach the hard support. Hope that you had collected some Satoshi along the way from this correction, there are still some left to harvest and then hopefully we will start to enjoy an uptrend with increased BTC value again. The news about BTC has been unfavourable towards BTC during this correction which seems like it is becomming a regular pattern. Let's see if during the bounce we will start also to hear about the positive news on BTC an the price will be pumped up again. ;)
by glennie81
TRX/BTC Elliott Wave ThoughtsStill very new at this and would love any criticism. I did a TRX/ETH Idea before but have switched over to BTC with an adjusted wave count. So we saw our 1st major wave finish on March 29 and confirmation of starting our 3rd wave on April 5. Now wave 3 has the possibilities of going further than I have projected but not likely to be lower. So that's still at least another 50% profit still to be made on wave 3. or 150+% completing wave 5, bringing us almost or to our ATH. This is my thoughts, with so much still to learn. Bardo
Long
by Bardouns
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