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All you need to know about bitcoin currency (BTC)
What is Bitcoin currency?
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
When did Bitcoin start?
History. Bitcoin was created by Satoshi Nakamoto, who published the invention on 31 October 2008 to a cryptography mailing list in a research paper called “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was implemented as open source code and released in January 2009.
How much was a Bitcoin worth in 2009?
Guy named Koch bought 5,000 bitcoins in 2009 for $27, now worth $11715000.00. Talk about a degree that gives you bang for your buck. Kristoffer Koch was writing a thesis on encryption in 2009 when he spent about $27 to buy 5,000 bitcoins.
What is a bit wallet?
A “wallet” is basically the Bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them, and then send them to others. There are two main types of wallets. A software wallet is one that you install on your own computer or mobile device.
How can I create a Bitcoin account?
Create a Bitcoin wallet. A bitcoin wallet is website or program which you can use to hold store bitcoins and make transactions. This website offers a free wallet service, sign up takes a few seconds and all you need is a password. Simply click the start a new wallet button at the top of the page. Blockchain Sign up
How do you make a Bitcoin address?
When you’re on the receiving end of a Bitcoin transaction, it is advisable to generate a new Bitcoin address each time. To do this, go to your Blockchain Wallet and click on Receive Money. On the bottom-right, click on New Address. Make sure to label the address so you know what it’s for
How does a bit coin Wallet work?
Transactions – private keys. A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.
Where are bitcoins stored on your computer?
Stored in your wallet file is the list of accounts that you control and the secret key needed to spend coins sent to those accounts. Stored in the public blockchain (held on every computer running the Bitcoin client) is the record of every transaction ever made, including any transactions that sent you coins.
How does a Bitcoin miner work?
Every ten minutes or so mining computers collect a few hundred pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. The first miner to find the solution announces it to others on the network
Driving in Dubai is known to be a convenient, yet expensive .
Fuel costs being low, there are others costs such as car maintenance, insurance instalments and among all is the “traffic fines” which tend to burn a hole in your pocket.
The solution is simple : Follow the traffic rules.
Here are some offences that can not only attract fines, but also get your vehicle impounded for over 30 days and more.
|Offence||Fine amount (Dh)||Black points||Vehicle impounded for|
|Driving dangerously (racing)||2,000||12||30 days|
|Driving under the influence of alcohol, drugs or similar substances||Decided by court||24||50 days|
|Driving a vehicle without number plates||1,000||24||50 days|
|Causing death of others||Decided by court||12||30 days|
|Not stopping after causing an accident that resulted in injuries||Decided by court||24||50 days|
|Reckless driving||2,000||12||30 days|
|Exceeding maximum speed limit by more than 60km/h||1,000||12||30 days|
|Driving in a way that is dangerous to the public||1,000||12||30 days|
|Running away from a traffic policeman||800||12||30 days|
|Dangerous overtaking by trucks||800||24||50 days|
|Exceeding permitted level of car window tinting||500||–||30 days|
|Driving a heavy vehicle that does not comply with safety and security conditions||500||–||30 days|
|Driving a noisy vehicle||500||–||30 days|
|Falling or leaking load||3,000||12||30 days|
DUBAI // UAE’s first Robocop, is coming up and is currentlly under testing, it will be used to chase down suspects and catch parking fee defaulters.
After interacting with visitors at the Gulf Information and Security Expo and Conference, Robocop’s first job posting will be malls and tourist attractions where people can tap a touchscreen on his chest to report a crime, pay traffic fines or chat in Arabic or English.
“This is the official launch of our first Robocop,” said Brig Khalid Al Razooqi, Dubai Police director general of smart services.
“Now most people visit police stations or customer service, but with this tool we can reach the public 24/7 and it won’t ask for any sick leave or maternity leave.”
The robot’s built-in cameras will stream video to the police command centre.
“It has a smart intelligent system so it can protect people from crime, because it can broadcast what is happening right away to our command and control centre,” said Brig Al Razooqi. “We are also working on facial-recognition systems.”
Languages such as Russian, Chinese, French and Spanish will be added to Robocop’s vocabulary.
There are also more than 6,000 cameras installed across the emirate. “We are watching all kinds of activity in the city,” Brig Al Razooqi said. “We protect the sensitive areas.”
The next batch of robots will be used to tackle crime and misdemeanours. There are plans over the next two years for the world’s largest robot, which can run at 80kph .