FAQs - Bitcoin (BTC)

Frequently asked questions about Bitcoin
Written by StakeSeeker
Updated 11 months ago

Who created Bitcoin?

Bitcoin was created by an unknown person or group using the pseudonym "Satoshi Nakamoto" in 2009.

What is the difference between blockchain and bitcoin?

Bitcoin is a digital currency that operates on a blockchain. A blockchain is a decentralized digital ledger that records all transactions made on the network, including those involving Bitcoin.

Who controls the Bitcoin network?

No one entity or individual controls the Bitcoin network. Instead, it operates on a decentralized peer-to-peer network of nodes that are run by individuals and organizations around the world.

What is a bividend?

A bividend is a dividend paid in bitcoin. In 2022, BTCS Inc. became the first publicly traded company to distribute a dividend in bitcoin.

Does StakeSeeker support bitcoin mining?

StakeSeeker does not offer bitcoin mining. Currently, StakeSeeker only supports delegated Proof-of-Stake blockchain networks.

What is Bitcoin vs bitcoin?

"Bitcoin" with a capital "B" refers to the network and digital currency, while "bitcoin" with a lowercase "b" refers to the individual units of the currency.

What is mining and why is it necessary for Bitcoin?

Mining is the process by which new Bitcoins are created and transactions are verified on the network. It involves solving complex mathematical equations using powerful computers, which adds new blocks to the blockchain and rewards miners with newly minted Bitcoins.

What is a bitcoin wallet?

A Bitcoin wallet is a software program that allows you to store, send, and receive Bitcoin. It generates a private key that only you have access to, and a public key that you can share with others to receive Bitcoin.

What happens if I lose my bitcoin wallet?

If you lose your Bitcoin wallet or private key, you lose access to your Bitcoin. There is no way to recover your Bitcoin once it is lost, so it is essential to keep your wallet and private key secure.

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