Bitcoin Basics
Introduction to Bitcoin Wallets
Bitcoin wallets store and protect the public and private keys, allowing you to send, receive, and store bitcoin. Bitcoin wallets can come in the form of software or hardware devices.
Can Bitcoin's Hard Cap of 21 Million Be Changed?
There will never be more than 21 million bitcoin. This rule, encoded in Bitcoin’s source code, cannot be changed thanks to Bitcoin’s decentralized nature. If it were possible, changing this hard cap would destroy the value proposition of Bitcoin.
How Many Satoshis Are in a Bitcoin?
One bitcoin is divisible into 100 million satoshis. Satoshis give Bitcoin great divisibility and flexibility.
How Is the Bitcoin Price Determined?
The Bitcoin price is determined through supply and demand. Because the market cap of bitcoin is small relative to the market capitalization of other currencies, small changes in demand or supply can produce price volatility greater than that of fiat currencies with theoretically unlimited supply.
What Is the Double Spend Problem?
The Double Spend problem describes the difficulty of ensuring digital money is not easily duplicated. Bitcoin offers a trustless solution to the double spend problem, and third parties such as banks attempt to solve it as well.
What Will Happen After All Bitcoin Are Mined?
When all bitcoin have been mined, miner revenue will depend entirely on transaction fees. The cost of transaction fees and purchasing power of bitcoin will likely adjust higher to the lack of new supply.
Why Don't Altcoins Threaten Bitcoin?
The success of Bitcoin has generated many imitations and spin-offs. Some have genuinely attempted to recreate or extend Bitcoin’s innovation on money, while others have been nothing more than affinity scams, playing off of Bitcoin’s reputation to attract investors.