More press releases» Press Release Is Bitcoin the future of money? Intro to Bitcoin, Litecoin and NewYorkCoin What is Bitcoin?



Bitcoin is decentralized digital currency of the internet. Digital money on your smartphone. We all carry numerous plastic cards, folds of paper money and heavy, bulky coins to pay for our daily needs. Bitcoin is currency using only your smartphone. No central authority, no banking institution. Bitcoin is open-source code whose transactions are "confirmed" by millions of peer-to-peer computers decentralized all around the world.



Bitcoin open-source code was published in 2009 and at that time was valued at a small fraction of one cent each. Just a couple of years later each Bitcoin was trading for a couple of hundred dollars a piece. All the while, the price of Bitcoin fluctuated wildly. A single Bitcoin now costs $9,000 each due to its continued rising demand as more and more people begin to understand it.



Bitcoin is purchased online through "exchanges." And users can access their "wallets" by simply using their smartphone. Bitcoin is money of the people. For the people. And by the people. Bitcoin offers banking to the world's unbanked. All that is needed to use Bitcoin is access to a smartphone and an internet connection. Bitcoin offers anonymity as well. A financial renaissance of sorts.



Bitcoin is the future of money. And NewYorkCoin is the future of Bitcoin.



What is NewYorkCoin?



NewYorkCoin is an improved version of Bitcoin. It's faster, cheaper and consumes far less resources.



NYC is open-source code published in 2014. NYC is not regional, as it's name may suggest. NYC is worldwide digital currency exactly like Bitcoin, in fact - NewYorkCoin is an actual fork of the Bitcoin code, just like Litecoin. With a proven 4 year old blockchain.



NewYorkCoin (NYC) offers 3 major improvements to usability and scalability. NYC offers it's users no network fees. This feature in the code enables free worldwide money transfer. And NYC is lightning-fast. NewYorkCoin confirms transactions every 30-seconds. Compared to 10 minutes for Bitcoin. NYC also has low difficulty mining programmed into its code which enables basic computer equipment to "mine" (verify transactions on the network) using much less electricity than Bitcoin mining. NYC has a tiny $10 Million total market cap -vs- over $150 Billion for Bitcoin.



Altcoins of value offer improvements over their predecessors. Litecoin improved on Bitcoin by lowering confirmation time by 4X, lowering network fees and made mining/verifying transactions easier. NYC then made further improvements to Litecoin by lowering confirmation time another 5X, eliminating network fees and made mining as easy as it gets using Kimoto Gravity Well (KGW) which automatically adjusts mining difficulty based on amount of hash rate hitting the network. The more usable the crypto, the more value it will someday be given. We all are waiting for the rest of the world to understand these facts. Someday NYC market cap will exceed Litecoin. NYC IS LITECOIN, just with more usable specs (and a cooler name). Media Contact

Company Name: NYC

Contact Person: Charlie Kartchner

Email: Send Email

Phone: (718) 490-7554

Country: United States

Website: newyorkcoin.net







