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What is Bitcoin?
Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Learn more: https://coins.community/btc/
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@Jay Hova
I understand your point but I believe you got it wrong.
Central Bank does not have to monitor anything.You can pay in normal currency, you can trade things with people, you can even pay in a non-existing currency if someone is willing to take it as a payment for you.
Also, the same thing goes for bitcoin.
If someone is willing to pay you for something you are selling ( bitcoin ) there is no problems in it and central bank or other institutions do not have to interfere. -
Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. It is created by the name of Satoshi Nakamoto in 2008.
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Yeah, that’s the whole goal of the blockchain, it’s an a trust-less immutable ledger. Just read the article posted by coins to get some more info about it.
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I believe that bitcoin needs the central bank to monitor, so it’s much more easy to predict the value and not become something like the big investors can only manipulate the its value.
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The central bank can “monitor” the price all they want. But they can’t do anything about it. The entire point of Bitcoin is to get away from the same banking system that does market manipulation.
The same banking system that was involved in writing millions of subprime loans and caused the housing market crash in the US. (The United States’ subprime mortgage crisis in 2007–2008?)
The same banking system that used depositor (savings) funds for bank bail-ins in Cyprus (2013), and now common in the ToS for most banks around the world.
The same ones that gamble with your money, and if they lose, the government will bail them out with yet more of your money. (To big to fail?)
Here is a really good article on why Bitcoin was created: https://medium.com/founder-playbook/a-quick-reminder-why-bitcoin-was-invented-in-the-first-place-f9ae7430bc17
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Bitcoin is the first digital currency to be widely accepted in the world. The number one cryptocurrency as of today in terms of market capitalization. Bitcoin has been over the inter space since 2009 and has been the leading Crytocurrency ever since.
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Bitcoin is the world’s first cryptocurrency, a form of electronic cash. It represents an era of modern-day innovation that is straightforward and evolving for the benefit of mankind. Bitcoin is one of the hottest topics today, but not every person can grasp its full potential, especially when you talk to the oldies like your parents.
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Bitcoin or also known as BTC is the first open-source, peer-to-peer digital cryptocurrency developed and launched by a group of unknown independent programmers named Satoshi Nakamoto in 2008. Bitcoin has no centralized server used for its issuance, transactions and storage, since it uses a public distributed network database technology called blockchain, which requires an electronic signature and is backed by a working test protocol to provide the security and legitimacy of monetary transactions. Bitcoin is issued by users with mining capabilities and is limited to 21 million coins. Currently, Bitcoin’s market capitalization exceeds $ 138 billion and this is the most popular digital currency class. The purchase and sale of cryptocurrencies is available through special platforms of Bitcoin bags or ATMs.
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I think that even children heard about bitcoin, but how it works and how people earn money with it people don’t know.
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