Club5050 💖 | Steembruschool // Week№1 | By @nishadi89
Weekly Challenge #1
Before answering these questions, I did some research on them. Here is a summary of what I learned there. First of all I would like to thank @slon21veka for creating such a new program.
1️⃣ What is Bitcoin and what is it eaten with?
Bitcoin was the first cryptocurrency launched in 2008 by an anonymous person or group called Satoshi Nakamoto. This works in a decentralized network based on blockchain.
Because it is based on blockchain, there are no intermediaries. Allows users to transfer their funds directly. To deal with cryptocurrencies such as Bitcoin, users need to create an authenticated account within an exchange. There we can exchange any type of cryptocurrency into bitcoin. I am currently a user using binance exchange. I have had little dealings with bitcoin there.
Bitcoin is the most valuable and popular cryptocurrency. And currently the number one cryptocurrency. The current value of the coin market is 1 bitcoin = $ 42,741.30. This value is expected to increase further soon.
In the early days bitcoin could be obtained by mining but now bitcoin has to be obtained by paying some value.
2️⃣ How many satoshis in bitcoin and what is the price of one satoshi in the currency of your country?
1 bitcoin = 100 million satoshis
1 usd = 2403.038 Satoshi
1 usd = 250 lkr ( Lanka rupiyal - currency of our country )
Therefore ; 2403.038 Satoshi = 250 lkr
The value of a Satoshi in terms of our currency ; 250 ÷ 2403.038 = 0.1040 lkr
3️⃣ What are altcoins and what is your favorite altcoin and why?
Altcoins is a special name used to describe all the cryptocurrencies that came after bitcoin. That is, the term altcoins is used for cryptocurrencies, which have been introduced as an alternative to bitcoin. This is because the first cryptocurrency to be launched was bitcoin, and the subsequent cryptocurrencies were based on bitcoin. The first altcoin was launched in 2011. There are many types of altcoins in the crypto market today. And more altcoins will come in the future as well.
My favorite altcoin is ethereum. This is because ethereum is the second most popular and valuable cryptocurrency after bitcoin. But I have not started dealing with ethereum yet.
Отлично! Спасибо за участие!
Thank you.
Congratulations, your post has been upvoted by @dsc-r2cornell, which is the curating account for @R2cornell's Discord Community.
Greetings,
Very informative blog and steemship is fan of your handicrafts to let you know. Keep it up.
Your Steemit post curated by @shohana1 - Founder of #Steemship community.
Thanks for being a regular content creator of Steemit
Stay Blessed!
Thanks for your great support.
Your post has been successfully curated by our team through @dilchamo. Thank you for your committed efforts, we invite you to do more and continue to post high-quality posts for a chance to win a valuable upvote from our curating team and why not be selected for an additional upvote later this week in our Top Seven.
Note: Always use the tag #fbcrypto to quickly access your post