The world's most popular cryptocarrency - Bitcoin

Bitcoin is a kind of cryptococoncy. And cryptocarrency is such a digital currency system that has no physical or real form. Bitcoin is the world's most popular cryptococarcan

Bitcoin is the world's most popular cryptocarbon; Source: crypto-news.net

Generally, we do not have the shelter of a third party organization in terms of money transactions. Just think, you will send some money to your friend. In this case, you send money to your friend from your phone's development / rocket account. Here you are the sender, your friend receiver and the developer / rocket third party, who controlled all the transactions and took some charge for it.

But Bitcoin is a currency system that does not require a third party to make money. Bitcoin receives directly from the sender to the recipient. This system is called 'peer-to-peer'. In this case all transactions process is using cryptography which is a very safe process. Since no third party agency controls this transaction, it is not possible to determine the transaction of Bitcoin transactions. That is, nobody knows who the person is sending Bitaken to. Bitcoin can be used to keep the identity completely hidden

This is how the Bitcoin

On August 18, 2008 On this day in the Internet world, the domain of a website named 'bitcoin.com' is registered. In November of this year, a person or a group of 'Satoshi Naakamoto' pseudonym, 'Bitcoin: A Peer-to-Peer Electronic Cash System' published a research paper online. This is the first time in this paper that speculation about Bitcoin is given

In January 2009 Satoshi Naakamoto released software code for making Bitcoin online. Bitcoin 'Mining' software is made. Bitcoin mining is a process through which Bitcoin is made. Saturn made the world's first Bitcoin in January 2009.

Nobody knows who is this seventh person; Source: coindesk.com

Many times many people were arrested on suspicion of Satoshi Nakamoto, but who is the real Satoshi Nakamoto, or who is behind this name and who is still not known today.

How Bitcoin Works

You will not be able to deal with Bitcoin like a common currency. No bank or organization controls it. Because of the peer-to-peer system, Bitcoin goes directly from the sender's 'wallet'. The wallet is like your wallet, where you have your own bitcoin stored. Wallets are either online or offline. The online wallet user can use it through his / her smartphone or computer

Digital wallet can be used through smartphones; Source: letstalkpayments.com

Each wallet has a specific address or address. It is impossible to remember that the address is completely encrypted. The user uses this address for the transaction of Bitcoin.

All transactions are included in the blockchain; Source: idmmag.com

When sending Bitcoin from one address to another, it is immediately recorded in an open account, whose name is 'Blockchain'. It is such a huge accounting system that records all of the bits that have been traded during this period. As soon as each transaction is completed a new bit of coins is made in the network. The method is called Bitakken Mining

How are Bitcoin Mining

Bitcoin mining is a complex process. Is done through a specific mining software. Because of this, high-powered computers are needed. This process is accomplished through complex mathematical algorithms using computer CPUs and GPUsEvery bitcane transaction is recorded in blockchain. At this time, Bitcoin Miners evaluated the validity of each transaction through mining software. And at the same time a new Bitcoin is made

This process of making Bitcoin transactions and new Bitcoin is very secure. As a result, there is no possibility of deceit or cheating. Both parties have identities

Some unique features of Bitcoin are a complete decentralized currency system. The government or any authority does not control it. As a result of the peer-to-peer system, every user here is the real owner of Bitcoin. Someone else can not take ownership of their Bitcoin network. The whole process of selling betacenay is the name alone without a name. A Bitcoin user can open multiple Bitcoin accounts. Opening these accounts does not require any personal information, such as user names, addresses, etc. As a result, the real identity of the user is secret. The transaction process is completed very transparently. The records of each transaction are stored in Blockquenne, which is when anyone can see from any part of the world. As a result, there is no scope for corruption. It is very easy to open the account. In this case, there is no need to fill any trouble form like opening a normal bank account. No extra fees are required. There is no need to submit any papers. Bitcoin transactions are very fast. Whatever bittakane sent from the ends of the world, it will reach the recipient within a few minutes. Some of the trouble-makers of Bitcoin are completely offensive. That means that if someone sends Bitcoin wrongly to any wrong address, it is not possible to get it back. Bitcoin does not control the organization of transactions. The identity of both sender-recipient is completely hidden. As a result, it is possible to use bitcoin in many criminal activities. Bitcoin is also used for the purchase of illegal products. All transactions in the dark web of the Internet are in Bitcoin. Bitcoin prices are very unstable. Sometimes a huge amount of big money increases. The price of Bitcoin in Bangladesh and its condition in Bangladesh

Every bitcane transaction is recorded in blockchain. At this time, Bitcoin Miners evaluated the validity of each transaction through mining software. And at the same time a new Bitcoin is made.

Since Bitcoin first launched, the price has increased day by day. In 2011, Bitcoin's market value was first raised from $ 0.30 to $ 32. Then in 2013 the price rose to $ 266. Bitcoin prices continued to grow gradually. At the end of 2016, the price comes to over $ 600. Then in 2010 the Bitcoin prices increased the record. Bitcoin rises upwards of $ 9,000 in November this year, increasing by almost a thousand per month. And this December, the price has risen to more than $ 15,000, which is an unprecedented phenomenon

Bitcoin prices have risen in a big way; Source: coindesk.com

Bitcoin is very popular in many countries around the world. More than thirty thousand people in the world, like WordPress, Microsoft, Wikipedia, Overstock, accept Bitcoin. The day-to-day popularity of the day is increasing. Microsoft founder Bill Gates commented on Bitcoin, "Bitcoin is better than currency".

Now let's see how Bitcoin is in Bangladesh. Bangladesh is included in the Bitcoin Foundation as the first country in Asia, on 15 August 2014. But a month after the Bitcoin joining the Foundation, the ban was issued on all transactions in Bitcoin. Bangladesh Bank, in a press release, urges people to refrain from all types of transactions of Bitcoin. That means that Bitcoin transaction is declared completely illegal. So far this ban on Bitcoin remains in Bangladesh.