What is Bitcoin?

What is Bitcoin?

 

Today Bitcoin is not only the first but also the largest cryptocurrency in the world. Established in 2010, the year a certain Satoshi Nakamoto (who is behind this name is not known to date), it is a decentralized digital currency that exists in its own ecosystem and enabling the use of coins as means of payment when purchasing goods and services.

Use Bitcoin not only on the Internet, but in real life. In Europe we have offline stores, and cafes where you can pay in Bitcoin.

Based on the blockchain currency is the ultimate issue. In the code data entered on the impossibility of release into circulation more than 21 million coins. Today released about 75% of the total value, but some coins considered lost and in circulation is not involved.

In General, in all of its characteristics, Bitcoin many experts compare gold and predict that it will in future be able to displace the precious metal from the market, taking his title of the most effective and reliable tool for storing assets.

The basis of Bitcoin is the principle of decentralization, allowing to eliminate the possibility of control over its use and the payment transactions. Transactions require only confirmation of the transaction participants, which ensures direct contact without the use of intermediaries.

As a result, the state has no opportunity in any way to influence Bitcoin that is valued by many owners of the cryptocurrency.

Separately should be noted the use of Bitcoin as an asset for investment. Rapid price growth in the market has allowed some owners of the cryptocurrency to become millionaires and billionaires. More and more people considering it not as a means of payment, and as a tool for investment with a view to profit.

Today we can say that Bitcoin has opened a new era in the financial relations between humanity and its principles could be the basis for transition to a qualitatively new level of the currency-financial system with global reach.

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