What is Bitcoin?
Bitcoin is a consensus network that enables new payment systems and money that are entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to cash in the internet world. Bitcoin can also be viewed as the most prominent record keeping system currently available.
Bitcoin is digital currency build on blockchain . And its a decentralized currency more secure than fiat currency . 21 million bitcoin will be mined and that is the beauty of this coin because there is limit on coin supply. So there is no needs to worry about over printing supply . The price of bitcoin will be increased day by day because of low coin supply . Low supply means in feature bitcoin demand will be increased. And its distributed system running on internet. No one can stop bitcoin if you want to stop bitcoin you needs To stop entire internet . So because of all this resins bitcoin prices will sky rocket in near feauture
Bitcoin is an electronic money made in 2009 by Satoshi Nakamoto. The name is also associated with the open source software that he designed, and also uses a peer-to-peer network without centralized storage or a single administrator where the US Treasury calls the bitcoins of a decentralized currency. Unlike most common currencies, bitcoin does not depend on trusting major publishers. Bitcoin uses a database that is distributed and spreads to the nodes of a P2P network to a transaction journal, and uses cryptography to provide basic security functions, such as ensuring that bitcoins can only be spent by people owning them, and never be done more from one time. The design of Bitcoin allows for anonymous ownership and transfer of wealth. Bitcoin - bitcoin can be stored on a personal computer in a wallet file format or stored by a third party wallet service, and apart from all that bitcoin can be sent over the internet to anyone with a Bitcoin address. The peer-to-peer bitcoin topology and the lack of a single administration make it impossible for any governmental authority to manipulate the value of bitcoin - bitcoin or cause inflation by producing more bitcoin.
ir year, the price even reached the level of $ 1,200 in early December Today we will try to explain what is bitcoin, what is its purpose, why the price can rise to almost 10000% in 1 year and how the prospect in the future. WHAT IS BITCOIN ?! This first question is sure to come up for those of you who have not had time to explore about bitcoin. To understand what a bitcoin is you can watch a video made by the official bitcoin website. If you have not understood it, try watching it 1-2 times again, we ourselves have to watch repeatedly to understand what exactly bitcoin is. Simply put, bitcoin is a digital currency that can be used in online transactions, which have some 'advantages' over conventional currency, among others not regulated by central banks, the process of sending from one account to another does not need to go through the bank, no need reported to any party, and no need to pay taxes, because the circulation has not been regulated by the government in any country. Bitcoin can facilitate us to transact online without getting exposed to various fees and taxes as it happens today. I do not know your opinion, but first impressions I see these advantages, I immediately predict that bitcoin is a means of money laundering that is very promising. But as we saw in the video above bitcoin also turned out to be used to make purchases from electronic goods to food, so 'as if' is not much different from ordinary money
There is a big story after creation of bitcoin where bitcoin was made to solve the problem of global transaction and the platform where we all can make payment without and failure and no other third party is involve in the platform of bitcoin. Today bitcoin is used for many alt coins which are performed globally. It is a digital currency where no other government is involve and no country can have rights to ban or keep a illegal tender. Bitcoin is famous from last 2-3 years as the price has spiked a lot in upto 19000$ so today world is using this coin and also earning a good amount of money. It has also solved many problems of family due to big earning that we never expect from any other business
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Bitcoin is a cryptocurrency, a form of electronic cash. It is the first decentralized digital currency: the system was designed to work without a central bank or single administrator.
Perhaps many of us still do not understand about Bitcoin. This article will cover briefly on this digital currency.
The recent sale and purchase transactions on the Internet have indeed grown so rapidly. Not only in the process of increasingly diverse transactions, now also has emerged a new virtual currency called BitCoin. Maybe some of you there who do not know even new first heard his name.
But since it was introduced in 2009, this unique currency is in fact becoming used by some of the e-commerce actors in the world. More complete with reviews about whether and how BitCoin role as an online transaction tool.
What Is Bitcoin and How Is History?
BitCoin is a virtual currency that can be used to transact online. If asked how this form of currency, which is clearly not like the form of physical currency issued by a bank and not the currency of a country. The shape of this unique currency is just a file like common files.
The file is an encryption of the unique codes that make it different from each other. And like any mp3 or word file you have on your computer device, BitCoin files can also be stored in a computer or a flash disk or software called BitCoin Digital Wallet. In addition BitCoin can also be stored in BitCoin storage services on the Internet in the form of social cloud.
Many people think that Bitcoin is a very true thing, whereas Bitcoin is something that can be confusing simply.
If asked what is bitcoin (abbreviated as BTC), the simplest explanation is:
, Actually Bitcoin is:
A pure peer-to-peer electronic cash version will allow online payments to be sent directly from one party to another without going through financial institutions.
Have you ever imagined how the transaction system (selling, buying, money transfer) happens? Yes there is always a third party who becomes a mediator, for example: bank (bank transfer), Visa, Mastercard, Paypal and so on.
Have you (from Indonesia) ever bought items on Amazon or Paypal? What about the payment system abroad? For example, if you use a credit card with a Visa logo, how about that payment can work?
As we all know, every difficulty available (including banks) must have their accounting book. Surely there is time, energy and costs that must be spent to be able to carry out the transaction. Of course we (the customers) are subject to additional fees (fees).
Continuing our initial discussion, what is Bitcoin? Bitcoin and cash book money systems into one global organization. Of course the benefits are reducing time and costs.