Questions tagged [btc]

ShintoMystical Thu Sep 05 2024 | 7 answers 1324

Could you please clarify the distinction between BTC and BTCB for me? I understand that both are related to Bitcoin, but I'm unsure of the specific differences in terms of their nature, functionality, and potential use cases. Is one a direct representation of Bitcoin while the other is a derivative or tokenized version? Additionally, how do their values and trading dynamics compare, and are there any notable risks or advantages associated with each?

Daniele Thu Sep 05 2024 | 7 answers 1287

I'm curious to know the steps involved in withdrawing BTC to PayPal. Can you please explain the process in detail? I'm specifically interested in knowing if there are any intermediaries involved, such as exchange platforms, and what are the associated fees. Additionally, I'd like to understand the potential risks and limitations associated with this type of transaction. Thank you for your assistance.

ShintoMystical Thu Sep 05 2024 | 5 answers 934

I'm curious, who exactly is the owner of Bitcoin, or BTC, as it's commonly referred to? Is there a single individual or entity that holds the ultimate authority over this decentralized digital currency, or is it more of a collective ownership among its users and miners? And if there is no clear-cut owner, how does the network ensure that transactions are secure and validated without a central authority?

Luca Thu Sep 05 2024 | 6 answers 1277

Hey there, I've been wondering about the cost-effectiveness of sending cryptocurrencies. Specifically, I'm curious to know: when it comes to transferring funds, is it cheaper to send Bitcoin (BTC) or Tether (USDT)? I'm aware that transaction fees can vary widely depending on the network congestion and other factors, but I'm looking for a general understanding of which one tends to be more cost-efficient. Could you shed some light on this for me? Thanks in advance for your insights!

AltcoinExplorer Thu Sep 05 2024 | 7 answers 1513

Excuse me, could you please clarify what exactly is meant by the term "BTC gas fee"? I'm familiar with the concept of gas fees in the context of Ethereum transactions, but I'm not sure how it applies to Bitcoin (BTC) as Bitcoin operates on a fundamentally different blockchain. Does BTC utilize a similar mechanism to incentivize miners and ensure the smooth functioning of the network, or is this a misnomer? Could you elaborate on this and explain the role of fees in the Bitcoin ecosystem?