INTRODUCTION ABOUT BITCOIN(WHAT IS BITCOIN):ENGLISH

in #bitcoin7 years ago

Bitcoin is a crypto-currency - a system of digitally created and traded tokens to which value is assigned.
Computers have to solve cryptographic problems in order to add blocks to the blockchain - a ledger that records every transaction that has ever occurred with Bitcoin.
In return, those computers receive bitcoins in a process known as bitcoin "mining".
Users have a "bitcoin address", to which bitcoins may be sent or from which they may be used.
Addresses are stored online in wallets that function like bank accounts.
Although most people refer to Bitcoin as a currency, it is worth noting that for regulatory reasons many countries - including the United States - have decided to define it as a commodity instead.


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