What is Bitcoin?
Table of Contents
Bitcoin is a decentralized cryptocurrency released in 2009. It operates in a peer-to-peernetwork, which means that every transaction takes place between two equal and independent members of the network without the participation of intermediaries. Bitcoin is the first cryptocurrencyto enter widespread use.
Who invented Bitcoin?
The creator of Bitcoin adopted the pseudonym Satoshi Nakamoto. Unfortunately, the true identity of this person is still unknown. In 2008, he published a description of the implementation of an online currency secured by cryptographic algorithms. This system was called blockchain.
How does Bitcoin work?
Bitcoin works according to the words of the creator, allowing the transfer of means of payment directly between individuals, without the interference of financial institutions. The supply of Bitcoin is limited and will never be more than 21,000,000 coins. New Bitcoin coins are acquired in the mining process.
How much does Bitcoin cost?
The price of Bitcoin is constantly changing. At first, one coin cost less than one cent, and now its price is above tens of thousands of dollars.
Where can you buy Bitcoin?
Bitcoin can be purchased probably on any cryptocurrency exchange. You can use fiat money tobuy h or other cryptocurrencies.
Is it worth investing in Bitcoin?
According to our editorial team, the prices of virtual currency change very quickly. It is difficult to determine whether the rate will increase in the near future. For this reason, we hold off on the opinion about the possibilities of investing in Bitcoin.
Bitcoin mining is getting more and more popular, so graphics card companies are likely to raise prices again. It’s a pity, because, as usual, it will affect ordinary PC owners. Now, especially in the times of crisis, most of the electronics will go to crypto mining.
Investing in Bitcoin is pure speculation. Due to the volatility of prices, such spending on Bitcoin has little to do with any kind of investment. These two concepts should be clearly distinguished.
Bitcoin is the real king of cryptocurrencies and gold of the internet. Whoever has invested knows how much can be gained. There may be downturns, but overall you can come out profitably.