Bitcoin is a new cryptocurrency currency in the digital world. Transactions are made without a middle authority. Which means, no banks! No need of heavy fees for transactions. No need of central authority’s order to confirm the transaction and you are allowed to do transactions anonymously. This is the secure and legal way of transactions. Because the transaction is verified by the proper channel named blockchain. Who keeps the records of transaction and verify them through proper ways. Bitcoin is pretty much like cash for the Internet.
Who controls the Bitcoin network?
This is the network, nobody owns, Same like email technology. No one owns this technology. Bitcoin network is controlled by its users in all over the world. Developers are working on bitcoin services continuously, but they don’t have a right to interfere in transactions process. They even don’t have authority to create change in bitcoin protocol. Because users of this technology are free to use any software or version.
Who created Bitcoin?
Satoshi Nakamoto …….
A great silence. Still, the creator of this worldwide technology is unknown. 9-pages paper was released named,” bitcoin, peer-to-peer electronic cash system” in the last of 2008. From that day and today, bitcoin is number one cryptocurrency in the world. And, still, the inventor of this technology is a mystery.
Is Bitcoin worldwide technology?
There is a large number of bitcoin users in the world from different sectors. Includes the business transactions, buying and selling of good, restaurants start accepting bitcoin as a payment and much more. At the end of August 2013, bitcoin exceed with the US $ 1.5 billion with millions of dollars. US, Canada, China and most of the other countries start transactions by using bitcoin. Worldwide acceptance of this technology shows that the future of currency is bitcoin. Till 2017, more than 2-time bitcoin cross the value of the gold. This is the fact, and there is no comparison of gold and the bitcoin. Because of digital currency. The primary purpose of this comparison is, bitcoin’s value crossing the value of gold. This shocking fact has blown away everyone’s mind. As a result, bitcoin takes part in most of the international transactions.
Acquiring bitcoin, is it simple?
will make a sensible decision of transaction. A person is wise if he/she knows the value of a single bitcoin. Either he/she is buyer or not.
Here, the question is, how acquire bitcoin?
How can we use it the for the transaction? and
Where do they come from?
Simple, you are interested in doing transactions via bitcoin. You will download software, make an address, choose a right and desired person for your transaction and send him/her a request. As, that person accept your request, create a business relation and exchange your needs with one another.
And, if you are going to buy or sell the goods. Do payments through US dollar or Euro, then exchange them into bitcoin.
You can also purchase bitcoin from bitcoin exchange
Purchasing of the bitcoin is not a big deal. Keep them save from scam’s eyes is an important fact. Technology anonymously uses in all sectors of the world. Once you will drop the catch…. Means you didn’t hold it again. Which, clearly means that you have to take decisions safely and wisely.
You also can earn bitcoin through mining.
What are the advantages of bitcoin?
People don’t want to someone own them in their lives. They want to play hide and seek in real life, in daily routine. That is why they like the transactions through bitcoin.
There is complete freedom of payments. No bank holidays, no borders, no bureaucracy, no restrictions.fully control their money. Here, you can choose your desired fees for transactions.
While you are going to do transactions, be aware of scams.
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