In this
post I will explain very less about Bitcoin, because there are a lot of sites I
mean a lot of sites out there in the internet which can explain a way better
than me, but what I will explain here is that, a simple way to understand the
BItcoin. So read it fully and carefully.
What is Bitcoin?
Bitcoin is
a currency, but it not a normal currency like the currency we fold, tear and
can keep in purse, it is a digital currency generated by the computer or now a
days in smartphone. That means it is a non-real (virtual) currency, that don’t
have any physical form. But being also digital currency it is almost impossible
to hack Bitcoin, because it works with Blockchain technology.
What is the
use of Bitcoin?
Yes, what
is the use of Bitcoin if we have real currencies approved by the government, it
is very useful because the first reason is that it is not issued by any
government or bank. Nobody has power over it but everybody has the power over
it individually i.e. you are the owner of your Bitcoin wallet, it’s your own
bank. From there you don’t need to pay any government taxes and transaction charges
for your money. You can you spend it anyway you like and can send it to any corner
of the world without a delay. Because the Bitcoin payments are instant payments.
Who
invented the Bitcoin?
Till now it
is a mystery that who invented the Bitcoin. Bitcoin is invented by “Satoshi
Nakamoto”. But nobody till now know about that name fully and who behind it,
some say they are a group of people who invented Bitcoin under the name Satoshi
Nakamoto, and some say he is a person. But how it is discovered that Satoshi
Nakamoto invented Bitcoin is that the first Bitcoin transaction is found under
that name. Bitcoin is released as a open source software by Satoshi Nakamoto in
the year 2009.
At first the Bitcoin started
with the value of nothing but later in 2010 it gained the value of $0.003 that
means around Rs.2 in Indian currency but now
1 Bitcoin =
$7739 = Rs.502570.66
If I had purchased a Rs.1000 of
Bitcoin’s in 2010 that is about 500 BTC which is now equals to
Rs.251317637.65
500 BTC =
Rs.251317637.65
This is how
Bitcoin raised. So friends hope you like my explanation about Bitcoin. If so
please share it with your friends and family by clicking the social media share
buttons below, so that they will also gain a brief knowledge about Bitcoin.
If you want
to know the detailed explanation about Bitcoin go here: Wikipedia
Have
anything to comment please feel free to ask and don’t forget to share.
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You probably saw how Bitcoin increased over 900% over the course of last year.
ReplyDeleteIt was wild but not totally unprecedented if you’d been watching cryptocurrency over the last several years.
And here’s the crazy thing:
There are many other coins that still have tons of room to grow.
You may have heard of Ethereum, Litecoin, Ripple, and others but there are more coins and many more opportunities -
Follow the link below to get the full story.
https://cryptocrusher.net?46df4gsd4f
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