WHAT IS BITCOIN?

#What is the origin of Bitcoin?

Bitcoin has its origin in 2009 when Satoshi Nakamoto , pseudonym of one or several people, decided to launch a new electronic currency whose peculiarity is that it only served to be able to carry out operations within the Network of networks. Bitcoin refers to both the currency, the protocol and the P2P network on which it relies.

#So what is Bitcoin?

Bitcoin is a virtual and intangible currency. That is, it can not be touched in any of its forms as it happens with the coins or notes, but can be used as a means of payment in the same way as these.

As with the money that we have in our bank Bitcoin increase or decrease of our personal account as we make income or expenses, the only difference is that there is no possibility to monetize them, as when, for example, withdraw money from a ATM.

What are the peculiarities that make Bitcoin different?

Undoubtedly what makes Bitcoin different from traditional currencies and other means of virtual payment like Ama zon Coins is decentralization . Or, what is the same, Bitcoin is outside the control of any government, institution or financial institution, whether state or private , such as the euro, controlled by the European Central Bank or the Dollar by the Federal Reserve of the USA.

In Bitcoin the control is carried out, indirectly through its transactions, the users themselves through the P2 P (Peer to Peer or Punto-Punto) exchanges . This P2P structure and lack of control make it impossible for any authority to manipulate its value or to cause inflation by producing more quantity.

In fact, its production and value is based on the law of supply and demand . Another interesting detail is that Bitcoin has a fixed limit of 21 million coins, which will be reached in 2030.

#How much is a Bitcoin worth?

As we have indicated the value of Bitcoin is based on supply and demand, and is calculated by an algorithm that measures the number of transactions and transactions with Bitcoin in real time .

The price of Bitcoin currently stands at $4421.05 (up to OCTOBOR 08, 2017), although this value is by no means stable since Bitcoin is listed as the most unstable currency in the foreign exchange market .