Hello Lovely Steemians

I hope you're all well. Crypto is the future, and we are the part of this Crypto family. Today I'm going to present my homework which is about the Bitcoin.

What Is Bitcoin and what was the Aim Behind Bitcoin Invention? Is Cryptocurrency Good For A Business To accept As Payment? Why?

Bitcoin

Bitcoin (BTC) is the first cryptocurrency developed in the world and also the first application based on Blockchain technology. Bitcoin is a decentralized digital currency, it is a currency because it serves to buy, payment of services like any other currency. It is digital because there is no physical or paper Bitcoin, its only on computers, and we say that it is decentralized because it does not depend on regulations of a central entity or government. It was created by Satoshi Nakamoto whose identity is not known, or if it is a person or a group of them, what is known is that in his account associated with Bitcoin. It has about a million of them, Nakamoto after the economic crisis that devastated the economy in 2008 considered the creation of a digital currency that would not depend on regulations from any government, this is how in 2009 it entered circulation being the first digital currency. The pioneer of cryptocurrencies, it operates on a chain of blocks (Blockchain) in which the operations are validated by the nodes and the data is recorded in a public ledger, once the information is approved, it is immutable, that is, it cannot be altered. The way to obtain them is through the mining of new blocks, its mining requires expensive computers that consume large amounts of energy, trained personnel to be able to solve the different algorithms for the creation of a new block, not to mention the amount of heat and noise that they produce, which means that not just anyone can carry out the mining process of this cryptocurrency. Meanwhile the process of generating Bitcoin is done through cryptocurrency mining, however the amount of bitcoin generated may not exceed 21 million bitcoin.
As we know Bitcoin is the father of all cryptocurrencies, it was the first and today it is the one with the largest market capitalization, Bitcoin started a new form of money that is created, distributed and custody, through a computer network that anyone can join. This is the most popular among cryptocurrencies and although its price is volatile, it represents a great option when it comes to Investing, due to its qualities of not having restrictions when making transactions, it is said that it is used for money laundering, which represents one of its negative qualities. Nevertheless it has a lot of security, it can be accessed only with an internet connection and from anywhere and anytime in the world.

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What Was The Aim Behind The Invention Of Bitcoin?

The main objective of the creation of Bitcoin is to eliminate the great cost of commissions when carrying out a transaction, especially if this operation is international, at the same time the operations would be carried out from person to person, which eliminates the protocols of banks, the transactions are fast so you can transfer a large amount of money from one side of the world to another in a short time and with a low cost of commission for the operation. When operating on a blockchain the dependence on a bank or a government is eliminated, of the first to carry out the operation and of the second of the restrictions, and the operations approved and registered cannot be altered in any way.
All this represents a great improvement over the conventional financial system and that is the purpose behind the emergence of BTC is to provide tremendous support to future economic crises and to provide more business opportunities for investors.

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Is Cryptocurrency Good For A Business To Accept As Payment? Why?

As far as I'm concerned, I believe yes, this would lead to a significant improvement when making payments for products or services of a certain company, this would represent a new alternative both for the person who pays and for the company that will receive the payment for the product or service. First, for the common citizen, it would be helpful to be able to pay for a product or service with our crypto assets, it would be convenient, fast and simple, for the company it would represent a quick payment of their payment and, depending on their criteria, they can exchange for other cryptocurrencies, or fiat currencies. Depending on the country where it operates, this in order to maintain liquidity for payroll payments among others but it can also make a good investment in the medium and long term, it all depends on the criteria.
So, using cryptocurrencies, such as bitcoin as a payment method is and would be a great advance for the global financial system.

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Conclusion

Bitcoin has been a strong cryptocurrency since its inception and much has been said about it. The first investors to acquire it became millionaires, first of all about it and its operations. Little was known but today it is the cryptocurrency that governs the crypto market. Its price trend, whether upwards or downwards, affects the value of other assets. Highlighting the shortcomings of the common financial system, it was a successful solution to improve.
Fom my perspective cryptocurrencies, referring to the Bitcoin, are the future of the economy, its best alternatives make it a good way to invest, more in adopting it as a means of payment.
Taking everything into account, I can only emphasize that the creation of the bitcoin was a huge success that opened the door to the wonderful world we know today as the crypto market it represents.
Lastly I would like to thank Professor @stream4u for this wonderful lecture.