What does BITCOIN mean in Funnies?

This page is about the meanings of the acronym/abbreviation/shorthand BITCOIN in the Miscellaneous field in general and in the Funnies terminology in particular.

Buy It Today Coin!

Miscellaneous » Funnies

Translation

Find a translation for Buy It Today Coin! in other languages:

Select another language:

  • - Select -
  • Chinese - Simplified 简体中文 (Chinese - Simplified)
  • Chinese - Traditional 繁體中文 (Chinese - Traditional)
  • Spanish Español (Spanish)
  • Japanese 日本語 (Japanese)
  • Portuguese Português (Portuguese)
  • German Deutsch (German)
  • Arabic العربية (Arabic)
  • French Français (French)
  • Russian Русский (Russian)
  • Kannada ಕನ್ನಡ (Kannada)
  • Korean 한국어 (Korean)
  • Hebrew עברית (Hebrew)
  • Ukrainian Український (Ukrainian)
  • Urdu اردو (Urdu)
  • Hungarian Magyar (Hungarian)
  • Hindi मानक हिन्दी (Hindi)
  • Indonesian Indonesia (Indonesian)
  • Italian Italiano (Italian)
  • Tamil தமிழ் (Tamil)
  • Turkish Türkçe (Turkish)
  • Telugu తెలుగు (Telugu)
  • Thai ภาษาไทย (Thai)
  • Vietnamese Tiếng Việt (Vietnamese)
  • Czech Čeština (Czech)
  • Polish Polski (Polish)
  • Indonesian Bahasa Indonesia (Indonesian)
  • Romanian Românește (Romanian)
  • Dutch Nederlands (Dutch)
  • Greek Ελληνικά (Greek)
  • Latin Latinum (Latin)
  • Swedish Svenska (Swedish)
  • Danish Dansk (Danish)
  • Finnish Suomi (Finnish)
  • Persian فارسی (Persian)
  • Yiddish ייִדיש (Yiddish)
  • Armenian հայերեն (Armenian)
  • Norwegian Norsk (Norwegian)
  • English English (English)

Definition

What does BITCOIN mean?

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.

see more »

Embed

Discuss this BITCOIN abbreviation with the community:

Citation

Use the citation below to add this abbreviation to your bibliography:

Style:MLAChicagoAPA

"BITCOIN." Abbreviations.com. STANDS4 LLC, 2019. Web. 17 Jul 2019. <https://www.abbreviations.com/term/1960205>.

Free, no signup required:

Add to Chrome

Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!

Free, no signup required:

Add to Firefox

Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!