Bitcoin ?

La version française est ici : Le bitcoin ?

Hello everyone, we meet today to talk or rather fly over the vast subject that is bitcoin. I will certainly do other things on it to talk more specifically. Let's start right away !!

What is bitcoin?

Bitcoin is the first crypto-currency that came out. If you do not know what a cryptocurrency is going to see my article: What is a crypto-currency. Among other things it is decentralized and uses the blockchain (we will come back to it right after)

It is an invention of Satoshi Nakamoto released in 2009, he also used his name for the eighth decimal bitcoin.

How to get bitcoins:

You have many ways to get bitcoins like buying, getting paid with bitcoins etc ... but we will be interested in a practice called mining.

What is mining?

So I told you that bitcoin used a principle called blockchain, the blockchain is a registry where you can view each transaction on a few conditions. However, these transactions are anonymous. They are not confirmed by an institution because the bitcoin is decentralized, this is where the mining takes place. The miners are the ones who check these transactions by carrying out very complicated calculations (when I say miners I speak of machines and not of human beings). This process costs a lot of electricity because computers are used to the maximum. But what is the interest of mining? Will you tell me. Well know that as each job deserves pay, mining pays bitcoins. These bitcoins come from transaction fees and new bitcoins created every day. However these bitcoins created every day are not eternal, indeed in the code of this virtual currency, it is stipulated that only 21 million bitcoins will exist and slowly given to minors. They will be fully on the market in 2140 but in 2030, 98% of bitcoins will have been mined. You also need to know that the difficulty in finding bitcoins is increasing, so it is now possible to be part of a pool in which one assembles its computing power with others to find BTC (bitcoin) faster then the profits are shared. At the beginning of bitcoin it was quite possible to mine bitcoin with a desktop computer but now it is not profitable at all.

There is one last question you need to ask yourself, should you invest in bitcoin?

This answer I can not give you because you have to make this decision yourself. I still wish to add that since its beginnings, the course of bitcoin has come down only to better go up.

I am in no way responsible for what you lose (only of what you earn) and do not forget, invest only what you are able to lose.

Goodbye and see you tomorrow for a new article

Ps: upvot it's fun 😉