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QuoteColo Blog

  • Who Has The Most Bitcoin?

    Posted by QuoteColo on September 19, 2018

    You may have what you consider a large quantity of Bitcoin that might even make you rich if you sold all of it. The truth is there are way bigger Bitcoin fish in this pond. In fact, most of the digital currency available worldwide are owned by just a few thousand super wealthy people. Who […]

  • What Happens When All 21 Million Bitcoin Are Mined?

    Posted by QuoteColo on September 17, 2018

    In its current setup, Bitcoin is a finite resource.  This means there are only so many Bitcoin that can be obtained by Bitcoin miners. The golden number is 21 million. This begs the question: What happens when all of the Bitcoin get mined? To fully understand what happens, it is important first to get a […]

  • The Differences Between Litecoin and Bitcoin

    Posted by QuoteColo on September 01, 2018

    Is Litecoin the same as Bitcoin? In a word, no. There are significant differences. However, there are similarities, and these are intentional. Because Litecoin was unknown when it launched in 2011, the similarities in the mining process and the distribution of blocks helped it place itself as a slightly different alternative to Bitcoin. It effectively […]

  • Is Bitcoin Mining Legal?

    Posted by QuoteColo on August 29, 2018

    The quickest way to answer this is, yes, Bitcoin mining is legal. However, as is the case with many apparently simple answers, there is some necessary nuance to this response. Many countries say it is legal, and these include the United States, Canada, Brazil, Australia, and the countries in the European Union. It is important […]

  • How Much Electricity Does Bitcoin Mining Use?

    Posted by QuoteColo on August 26, 2018

    Mining Bitcoin has become a fulltime job for some people. For others, they are limited to doing it as a hobby of hiring others to mine for them. If it was relatively easy, everyone would be doing it and making loads of cash. And in reality, the process of mining Bitcoin is fairly straightforward: You […]