Questions tagged [bitcoin]

JejuJoyfulHeartSoulMate Fri Jun 07 2024 | 6 answers 875

Could you please explain to me the potential for Bitcoin to exceed the 21 million limit? Given its fixed supply and the principles of decentralization, does it seem feasible for the number of Bitcoins in circulation to rise beyond this cap? Could technological advancements or changes in the crypto landscape potentially allow for such an occurrence? I'm quite curious about the dynamics and constraints surrounding Bitcoin's supply and how they might be affected in the future. Thank you for your insights.

noah_stokes_photographer Thu Jun 06 2024 | 7 answers 976

Could you please clarify, is cryptocurrency considered illegal in Australia? I've heard conflicting reports about its legality in the country. But based on the paragraph you mentioned, it seems like Australians can buy, sell, trade, spend, receive, and store cryptocurrencies without any legal issues. Is this indeed the case? Additionally, I'm curious about Bitcoin specifically. Is it also 100% legal in Australia, or are there any specific regulations or restrictions that apply to it? Thank you for your clarification.

CryptoKnight Thu Jun 06 2024 | 6 answers 1206

I'm curious, could you please elaborate on the estimated timeframe for mining a single Bitcoin without any financial investment? Given the complexities and varying factors involved in the mining process, I'm wondering if there's a general consensus or an approximate range of time it might take. Is it a matter of days, weeks, months, or even longer? And what factors, if any, significantly impact this duration? I'm also interested in knowing if the difficulty level of mining Bitcoin has any bearing on the time it takes to mine one.

Silvia Thu Jun 06 2024 | 6 answers 1230

Is it permissible in Australia to exchange Bitcoin for cash? As a beginner, I'm a bit confused about the regulations. I've heard that Bitcoin is entirely legal in our country, but I'm not sure if that applies to selling it for cash. Can you clarify? Is it legal to buy, sell, trade, spend, receive, and store Bitcoin in Australia without violating any laws?

Valentina Thu Jun 06 2024 | 6 answers 1648

Could you please elaborate on the security aspects of Bitcoin? I'm curious to know how its decentralized nature contributes to its safety. Also, are there any known vulnerabilities or challenges that Bitcoin faces in terms of maintaining its security? Additionally, how does the blockchain technology underlying Bitcoin ensure the integrity and authenticity of transactions? I'm interested in understanding the measures taken to protect against hacks and frauds in the Bitcoin ecosystem. Thank you for shedding some light on this topic.