Basics of learning #Bitcoin
#Bitcoin does not flow through the traditional #banking system
#Bitcoin transactions are made via #computer immediately with usually low charges
#Bitcoin cannot be held or kept in a pocket or wallet like #currency
#Bitcoin has a finite #Crypto supply because there are only going to be 21 million Bitcoins ever mined
#Satoshi Nakamoto first proposed #Bitcoin in a 2009 white paper as a means of payment based on #mathematics
The idea behind #Bitcoin was to create a #currency system that didn't involve Banks and instead would operate using a decentralized ledger known as #Blockchain
#Bitcoin is a virtual #currency held on computers and not controlled by any single bank, nation, or #monetary agency
#Bitcoin is anonymous, and the #cryptocurrency allows users to maintain multiple addresses, and setting up an address requires no personal information
#Bitcoin is created via a process known as mining. Mining for #Bitcoin is the digital equivalent of digging for #gold
#Bitcoin miners use powerful computers to compete with each other to “win” #Bitcoin by solving a math puzzle that gets harder and harder as more people try to win
The amount of #Bitcoin that miners can win decreases over time.
As #Bitcoin becomes more valuable and more scarce, more people are motivated to hoard it, which increases the value, which leads to more hoarding and drives the price up more
Lastly, lots of people maintain copies of the #Bitcoin network, called nodes. Nodes ensure that everything runs correctly and that #miners do their jobs according to the rules of the #blockchain system
They run a sophisticated type of ledger called a #blockchain that maintains a copy of every single #Bitcoin transaction ever executed

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More from @TokunboAdesina

13 Jan
#Ripple plans to bring #XRP ledger to central #banks
#Ripple, a leading #Crypto fintech company, is going forward to bring the #XRP Ledger to central banks
#Ripple announced via a job listing site that it was looking to hire three central bank technical partner managers – one for each of its offices in #London, #SanFrancisco, and New York
Read 5 tweets
12 Jan
#Oil prices stay firm
#Oil prices held most of their gains at the start of trading in London
This is happening amid rising numbers of #COVID19 cases globally, which has weakened some oil traders’ resolve in betting bullish
Read 4 tweets
26 Dec 20
#Bitcoin’s market value now $468 billion, bigger than #GDP of #Africa’s largest economy
The price of the world’s most popular #cryptocurrency recently surpassed $25,000, reaching a new milestone of $25,199.50 on #FTX exchange and surpassing the Gross Domestic Product of any country in #Africa
#Africa's largest economy, #Nigeria has a #GDP, valued at $$448.1 billion. At the time of writing this report, #Bitcoin comfortably outmatched #Nigeria’s #GDP with a market value of $468 billion
Read 7 tweets
26 Dec 20
Top U.S stocks making #investors very #rich
Despite #Bitcoin having touched a new milestone on #Christmas day by hitting a new all-time high of $24,600 with yearly gains of about 236%, it still lags behind a handful of listed #American stocks in terms of yearly returns
The leader of the pack remains #Chinese car company, #Nio, often tagged the Chinese #Tesla. Nio has outperformed by 11-fold gain this year alone, pushing the #car company’s market value past car giants like American based #GeneralMotors
Read 9 tweets
26 Dec 20
The world’s most popular #Crypto, #Bitcoin is having a run not seen in the #Crypto-verse, especially on boxing day.
The flagship #Crypto traded at $24,845.80 with a daily trading volume of $44,952,165,090. #Bitcoin is up 5.76% for the day. The current market value of Bitcoin stands at $461.7 Billion
#Bitcoin is fired up on all cylinders, smashing its past record highs at the speed of light, and it seems the momentum trade is strengthening as mass media outlets embrace #Crypto coverage
Read 5 tweets
25 Dec 20
Trading in the top three equities namely #AccessBank Plc., #ZenithBank Plc., and #AXA Mansard Insurance Plc. (measured by volume) accounted for 1.439 billion shares worth N13.881 billion in 2,972 deals
#NigerianStocks unsurprisingly recorded impressive gains W/W, as #investors increased their buying pressure, especially #NSE30 stocks that include #Dangote, #Airtel, and lately #Guinness
#Nigerian’s crude, selling at $51/barrel, kept stocks rally up. #Stock experts anticipate the present bullish run currently playing at #Africa’s best-performing #equity market will remain long term, albeit alongside #profit-taking seen lately at its last trading session
Read 4 tweets

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