BOLIVAR COIN, DECENTRALIZED CURRENCY VENEZUELAN.

aleexjs (25)in #crypto-news • 7 years ago

Good Morning Family Steemit, Today I bring you a post that will help many Venezuelans to obtain a Venezuelan decentralized virtual currency called, Bolivarcoin is free to use since it can be mined and does not belong to any State or country and can be used all over the world by the same, Bolivarcoin was officially launched on August 29, 2015

What is the bolivar Coin?

Bolivarcoin is a currency, like the Bolívar (Venezuelan Currency), used to exchange goods and services. However, unlike other currencies, Bolivarcoin is an electronic currency that presents novel features and stands out for its efficiency, security and ease of exchange. The Bolivarcoin Network is based on a "peer to peer" system or user to user, it is a decentralized currency, so nobody controls it. Bolivarcoin does not have a central issuer like the Bolivars, the cryptocurrency is produced by people and companies from around the world dedicating a large amount of resources to mining. Currently, the most used digital currency in the world is Bitcoin, its creator was: Satoshi Nakamoto, the main source of other cryptocurrencies. Bolivarcoin was created by Satoshisimon Bolivarmoto, his real identity just like Bitcoin is also unknown. Virtual currencies are changing the way in which the economy works, because you are your own bank, virtual currencies are created to offer an alternative to the banking model, virtual currencies are governed according to a different structure that can not be manipulated by no government or central bank.

based on the opensource p2p script created by Satoshi Nakamoto, if you do not know what a virtual currency is, it will be difficult to explain it in the same way that it was difficult to explain what the internet was in 1994, and just as the internet changed the way the world communicated, the virtual currencies are changing the way in which the economy works, the virtual currencies are governed according to a different structure that can not be manipulated by any government or central bank, an example of this is that the bank Central can say that 2 + 2 = 5 instead in a virtual currency based on an unchanging binary code 2 + 2 = 4 and this can not be changed.

Today venezuela has the revolutionary technology that offers a way to send payments on the internet, imagine it is an "open account system" where thousands of computers work together to confirm the validity of code blocks called Bolivarcoin, when you send them to someone Bolivarcoins, the transaction is replicated to the entire network of these computers, after it is verified, it is registered in a public record called "Blockchain", the Blockchain contains a record of all Bolivarcoin transactions since it was created, from this way the stability of the network is guaranteed.

Many currencies are controlled by Central Banks and they control the amount of money that is produced, Bolivarcoin is a p2p system (person to person) where there is no central authority to produce this money, the money is produced by mining, mining is the process through computers connected to the network verify transactions and for their work they receive Bolivarcoins and this is how new Bolivarcoins are created to enter circulation, and the more Bolivarcoins are created, the more the mining difficulty increases and the amount that it can undermine what makes the Bolivarcoin a currency governed by a predicted supply of scarcity, which makes it virtual gold.

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What characteristics does bolivarcoin have?

• It does not belong to any State or country and can be used all over the world equally.

• You can buy Bolivarcoin with Boliváres or other currencies and vice versa, like any currency.

• No intermediaries: Transactions are made directly from person to person.

• It is decentralized: it is not controlled by any State, bank, financial institution or company.

• Its falsification or duplication is impossible thanks to a sophisticated cryptographic system.

• Transactions are irreversible.

• It is not necessary to reveal your identity when doing business and preserve your privacy.

• The money belongs to you 100%; it can not be intervened by anyone or the accounts can be frozen.

Who determines the value of Bolivarcoin?

The price of a Bolivarcoin is determined by anyone who wants to participate in the process of buying and selling in certain Exchange.

An Exchange is an online platform to buy and sell your Bolivarcoins. When many people buy Bolivarcoin its price tends to rise. (Demand) When many people sell their Bolivarcoin the price tends to fall. (Offer). That is, what ultimately determines the price of the Bolivarcoin, even if multiple factors influence it.

How can I start using Bolivarcoins?

To start using Bolivarcoin you need:

http://bolicoin.com/en/wallet-y-links/

1- Download a portfolio or wallet.

2- Get some Bolivarcoin.

3- Use your Bolivarcoin.

4- Keep your portfolio updated.

5- And most importantly, trust this currency.

Here is the facebook group, where you can advise
and help to start in bolivarcoin

https://www.facebook.com/groups/129493067606558/