What is Bitcoin? History, characteristics, pros and cons

[anamatrix25 38]

Bitcoin definition

Bitcoin (BTC) is a digital currency, which is used and distributed electronically.

Bitcoin is a decentralised peer-to-peer network. No single institution or person controls it.

Bitcoins can’t be printed and their amount is very limited – only 21 mln Bitcoins can ever be created.

Who created Bitcoin?
Bitcoin was first introduced as an open-source software by an anonymous programmer, or a group of programmers, under the alias Satoshi Nakamoto in 2009. There has been a lot of rumours about the real identity of BTC’s creator, however all of the people mentioned in those rumours have publicly denied being Nakamoto.

Nakamoto himself once claimed to be a 37-year-old male living in Japan. However, because of his perfect English and his software not being labeled in Japanese, there are reasonable doubts about this. Around mid-2010, Nakamoto moved on to other things, leaving Bitcoin in the hands of a few prominent members of the BTC community. Also Satoshi named Gavin Andresen a lead developer.

It has been estimated that Nakamoto owns around one mln Bitcoins, which amounts to approximately $3.6 bln as of September 2017.

Who controls Bitcoin?
According to Gavin Andresen, the very first thing he focused on after Nakamoto moved on from the project was further decentralisation. Andersen wanted Bitcoin to continue its existence autonomously, even if he would ‘get hit by a bus’.

For a lot of people, the main advantage of Bitcoin is its independence from world governments, banks and corporations. Not one authority can interfere into BTC transactions, impose transaction fees or take people’s money away. Moreover, the Bitcoin movement is extremely transparent - every single transaction is being stored in a massive distributed public ledger called the Blockchain.

Essentially, while Bitcoin is not being controlled as a network, it gives its users total control over their finances.

How does Bitcoin work?

A user sees only amount of Bitcoins on his or her wallet and and transaction results.

Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed. Digital records of transactions are combined into "blocks".

If someone try to change just one letter or number in a block of transactions, it will also affect all of the following blocks. Due to it being a public ledger, the mistake or fraud attempt can be easily spotted and corrected by anyone.

User's wallet can verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses.

Because of the verification process and depending on the trading platform, it may take a few minutes for a BTC transaction to be completed. The Bitcoin protocol is designed so that each block takes about 10 minutes to mine.

Scheme How does Bitcoin work, Bitcoin transaction

Characteristics of Bitcoin
Decentralised
One of Satoshi Nakamoto’s main objectives when creating Bitcoin was the network’s independence from any governing authorities. It is designed so that every person, business, as well as every machine involved in mining and transaction verification, becomes part of a vast network. Moreover, even if some part of the network goes down, the money will keep moving.

Anonymous
These days banks know virtually everything about their clients: credit history, addresses, phone numbers, spending habits and so on. It is all very different with Bitcoin, as the wallet doesn’t have to be linked to any personally identifying information. And while some people just simply don’t want their finances to be governed and tracked by any kind of an authority, others might argue that drug trade, terrorism and other illegal and dangerous activities will thrive in this relative anonymity.

Transparent
The anonymity of Bitcoin is only relative, as every single BTC transaction that ever happened is stored in the Blockchain. In theory, If your wallet address was publicly used, anyone can tell how much money is in it by carefully studying the blockchain ledger. However, tracing a particular Bitcoin address to a person is still nearly impossible.

Those who wish to stay anonymous with their transactions can take measures to stay under the radar. There are certain types of wallets that prioritise opaqueness and security, but the simplest measure would be to use multiple addresses and not transfer massive amounts of money to a single wallet.

Fast
The Bitcoin network processes payments almost instantaneously, it normally takes just a few minutes for someone on the other side of the world to receive the money, while normal bank transfers can take several days.

Non-repudiable
Once you send your Bitcoins to someone, there is no way of getting them back, unless the recipient would want to send them back to you. This ensures the reception of a payment, meaning that whoever you’re trading with can’t scam you by claiming that they nev

[CarlosGM 341]

Hello, very good information. Bitcoin being the first cryptocurrency has the advantage of having the largest market capitalization and being scarce it has the potential that its price will rise in the coming years, benefiting the investor or the person who only accumulates bitcoin for the future.

[WillSol23 267]

4 hours ago, anamatrix25 said:

Bitcoin definition

Bitcoin (BTC) is a digital currency, which is used and distributed electronically.

Bitcoin is a decentralised peer-to-peer network. No single institution or person controls it.

Bitcoins can’t be printed and their amount is very limited – only 21 mln Bitcoins can ever be created.

Who created Bitcoin?
Bitcoin was first introduced as an open-source software by an anonymous programmer, or a group of programmers, under the alias Satoshi Nakamoto in 2009. There has been a lot of rumours about the real identity of BTC’s creator, however all of the people mentioned in those rumours have publicly denied being Nakamoto.

Nakamoto himself once claimed to be a 37-year-old male living in Japan. However, because of his perfect English and his software not being labeled in Japanese, there are reasonable doubts about this. Around mid-2010, Nakamoto moved on to other things, leaving Bitcoin in the hands of a few prominent members of the BTC community. Also Satoshi named Gavin Andresen a lead developer.

It has been estimated that Nakamoto owns around one mln Bitcoins, which amounts to approximately $3.6 bln as of September 2017.

Who controls Bitcoin?
According to Gavin Andresen, the very first thing he focused on after Nakamoto moved on from the project was further decentralisation. Andersen wanted Bitcoin to continue its existence autonomously, even if he would ‘get hit by a bus’.

For a lot of people, the main advantage of Bitcoin is its independence from world governments, banks and corporations. Not one authority can interfere into BTC transactions, impose transaction fees or take people’s money away. Moreover, the Bitcoin movement is extremely transparent - every single transaction is being stored in a massive distributed public ledger called the Blockchain.

Essentially, while Bitcoin is not being controlled as a network, it gives its users total control over their finances.

How does Bitcoin work?

A user sees only amount of Bitcoins on his or her wallet and and transaction results.

Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed. Digital records of transactions are combined into "blocks".

If someone try to change just one letter or number in a block of transactions, it will also affect all of the following blocks. Due to it being a public ledger, the mistake or fraud attempt can be easily spotted and corrected by anyone.

User's wallet can verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses.

Because of the verification process and depending on the trading platform, it may take a few minutes for a BTC transaction to be completed. The Bitcoin protocol is designed so that each block takes about 10 minutes to mine.

Scheme How does Bitcoin work, Bitcoin transaction

Characteristics of Bitcoin
Decentralised
One of Satoshi Nakamoto’s main objectives when creating Bitcoin was the network’s independence from any governing authorities. It is designed so that every person, business, as well as every machine involved in mining and transaction verification, becomes part of a vast network. Moreover, even if some part of the network goes down, the money will keep moving.

Anonymous
These days banks know virtually everything about their clients: credit history, addresses, phone numbers, spending habits and so on. It is all very different with Bitcoin, as the wallet doesn’t have to be linked to any personally identifying information. And while some people just simply don’t want their finances to be governed and tracked by any kind of an authority, others might argue that drug trade, terrorism and other illegal and dangerous activities will thrive in this relative anonymity.

Transparent
The anonymity of Bitcoin is only relative, as every single BTC transaction that ever happened is stored in the Blockchain. In theory, If your wallet address was publicly used, anyone can tell how much money is in it by carefully studying the blockchain ledger. However, tracing a particular Bitcoin address to a person is still nearly impossible.

Those who wish to stay anonymous with their transactions can take measures to stay under the radar. There are certain types of wallets that prioritise opaqueness and security, but the simplest measure would be to use multiple addresses and not transfer massive amounts of money to a single wallet.

Fast
The Bitcoin network processes payments almost instantaneously, it normally takes just a few minutes for someone on the other side of the world to receive the money, while normal bank transfers can take several days.

Non-repudiable
Once you send your Bitcoins to someone, there is no way of getting them back, unless the recipient would want to send them back to you. This ensures the reception of a payment, meaning that whoever you’re trading with can’t scam you by claiming that they nev

Excellent information, very helpful, Bitcoin is the first cryptocurrency to be on the market, and it has the advantage of having the highest market capitalization and being scarce it has the potential that its price will rise in the coming years, benefiting the investor or the person who only accumulates bitcoin for the future. Take advantage and get many profits.

[linamz11 24]

Thank you very much for the information, it is really very useful, I am just starting and this seems to me an excellent summary, more than that, a definition with certain features and tips that will help us do things in the best way possible, with this I understand a little more and I will be able to advance in this long way, with great expectations, I like this kind of publications, so I can improve my knowledge about it, thanks again

[Leunamen 244]

Thank you very much for the short story of bitcoin, it is a very interesting story, especially to know how was the rise of this new way of understanding the financial market and to give us a global idea of all the work that has made bitcoin to be in the privileged place where it is now

[Manuel Cortes Hernandez 295]

 

Friend, here I leave a tutorial on each of the things you need to know, is a good video, I recommend it, any doubt you write me and with pleasure.  

[Iftikhar1 0]

Bitcoin is the first invention of digital currency and now have very big famous in all over the world and have a big market capitalization in crypto market and you give us great information about bitcoin on this forum.

[futbol 59]

Bitcoin is what we know as a virtual currency, hence the basis of what we know as a cryptocurrency. This currency is not like any other FIAT currency that we normally know as the euro, the dollar or the British pound, but rather, it has a very particular characteristic and that is its decentralization.
Bitcoin being decentralized makes it possible for no government in the world to alter or modify its value or its issuance. Therefore, the value that it has is not given by gold or silver, but by the users themselves, we know this as trust.
Without trust it is almost impossible for Bitcoin to have value because without it there would be neither a supply nor a demand for the currency. The beauty of all this is that any exchange we do for Bitcoin as it is decentralized is done from person to person, that is, for example: you send me bitcoins and I receive those bitcoins without going through some extra process or the supervision of a person or an entity such as a bank.
The most curious thing of all is that this coin is intangible, that is, it cannot be touched due to the fact that it is virtual. The use that we can give to Bitcoin goes beyond a simple transaction, but rather represents a form of payment, a source of income and, most importantly, an important future reserve of value.

[Leox360 70]

Very good information. For beginners it helps a lot to know, not only what bitcoin is, but it also helps to deepen the topic and keep it interesting to read. Many only care what the coin itself is, but it's okay to know where it came from and its creator anyway. I really liked that you shared the information here. You've earned my point, this post is really interesting.

[Jorge95950 249]

On 10/5/2020 at 10:53 AM, anamatrix25 said:

Bitcoin definition

Bitcoin (BTC) is a digital currency, which is used and distributed electronically.

Bitcoin is a decentralised peer-to-peer network. No single institution or person controls it.

Bitcoins can’t be printed and their amount is very limited – only 21 mln Bitcoins can ever be created.

Who created Bitcoin?
Bitcoin was first introduced as an open-source software by an anonymous programmer, or a group of programmers, under the alias Satoshi Nakamoto in 2009. There has been a lot of rumours about the real identity of BTC’s creator, however all of the people mentioned in those rumours have publicly denied being Nakamoto.

Nakamoto himself once claimed to be a 37-year-old male living in Japan. However, because of his perfect English and his software not being labeled in Japanese, there are reasonable doubts about this. Around mid-2010, Nakamoto moved on to other things, leaving Bitcoin in the hands of a few prominent members of the BTC community. Also Satoshi named Gavin Andresen a lead developer.

It has been estimated that Nakamoto owns around one mln Bitcoins, which amounts to approximately $3.6 bln as of September 2017.

Who controls Bitcoin?
According to Gavin Andresen, the very first thing he focused on after Nakamoto moved on from the project was further decentralisation. Andersen wanted Bitcoin to continue its existence autonomously, even if he would ‘get hit by a bus’.

For a lot of people, the main advantage of Bitcoin is its independence from world governments, banks and corporations. Not one authority can interfere into BTC transactions, impose transaction fees or take people’s money away. Moreover, the Bitcoin movement is extremely transparent - every single transaction is being stored in a massive distributed public ledger called the Blockchain.

Essentially, while Bitcoin is not being controlled as a network, it gives its users total control over their finances.

How does Bitcoin work?

A user sees only amount of Bitcoins on his or her wallet and and transaction results.

Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed. Digital records of transactions are combined into "blocks".

If someone try to change just one letter or number in a block of transactions, it will also affect all of the following blocks. Due to it being a public ledger, the mistake or fraud attempt can be easily spotted and corrected by anyone.

User's wallet can verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses.

Because of the verification process and depending on the trading platform, it may take a few minutes for a BTC transaction to be completed. The Bitcoin protocol is designed so that each block takes about 10 minutes to mine.

Scheme How does Bitcoin work, Bitcoin transaction

Characteristics of Bitcoin
Decentralised
One of Satoshi Nakamoto’s main objectives when creating Bitcoin was the network’s independence from any governing authorities. It is designed so that every person, business, as well as every machine involved in mining and transaction verification, becomes part of a vast network. Moreover, even if some part of the network goes down, the money will keep moving.

Anonymous
These days banks know virtually everything about their clients: credit history, addresses, phone numbers, spending habits and so on. It is all very different with Bitcoin, as the wallet doesn’t have to be linked to any personally identifying information. And while some people just simply don’t want their finances to be governed and tracked by any kind of an authority, others might argue that drug trade, terrorism and other illegal and dangerous activities will thrive in this relative anonymity.

Transparent
The anonymity of Bitcoin is only relative, as every single BTC transaction that ever happened is stored in the Blockchain. In theory, If your wallet address was publicly used, anyone can tell how much money is in it by carefully studying the blockchain ledger. However, tracing a particular Bitcoin address to a person is still nearly impossible.

Those who wish to stay anonymous with their transactions can take measures to stay under the radar. There are certain types of wallets that prioritise opaqueness and security, but the simplest measure would be to use multiple addresses and not transfer massive amounts of money to a single wallet.

Fast
The Bitcoin network processes payments almost instantaneously, it normally takes just a few minutes for someone on the other side of the world to receive the money, while normal bank transfers can take several days.

Non-repudiable
Once you send your Bitcoins to someone, there is no way of getting them back, unless the recipient would want to send them back to you. This ensures the reception of a payment, meaning that whoever you’re trading with can’t scam you by claiming that they nev

Thank you very much for your contribution, it solves more than one doubt about the bitcoins and the different types of crypto currencies, I hope to learn much more about this field, greetings.

16 hours ago, Manuel Cortes Hernandez said:

 

Friend, here I leave a tutorial on each of the things you need to know, is a good video, I recommend it, any doubt you write me and with pleasure.  

This tutorial is a very good material that allows you to clear all kinds of doubts and also teaches us about cryptomonies, thanks for your contribution is very valuable.

[WillSol23 267]

On 10/5/2020 at 10:53 AM, anamatrix25 said:

Bitcoin definition

Bitcoin (BTC) is a digital currency, which is used and distributed electronically.

Bitcoin is a decentralised peer-to-peer network. No single institution or person controls it.

Bitcoins can’t be printed and their amount is very limited – only 21 mln Bitcoins can ever be created.

Who created Bitcoin?
Bitcoin was first introduced as an open-source software by an anonymous programmer, or a group of programmers, under the alias Satoshi Nakamoto in 2009. There has been a lot of rumours about the real identity of BTC’s creator, however all of the people mentioned in those rumours have publicly denied being Nakamoto.

Nakamoto himself once claimed to be a 37-year-old male living in Japan. However, because of his perfect English and his software not being labeled in Japanese, there are reasonable doubts about this. Around mid-2010, Nakamoto moved on to other things, leaving Bitcoin in the hands of a few prominent members of the BTC community. Also Satoshi named Gavin Andresen a lead developer.

It has been estimated that Nakamoto owns around one mln Bitcoins, which amounts to approximately $3.6 bln as of September 2017.

Who controls Bitcoin?
According to Gavin Andresen, the very first thing he focused on after Nakamoto moved on from the project was further decentralisation. Andersen wanted Bitcoin to continue its existence autonomously, even if he would ‘get hit by a bus’.

For a lot of people, the main advantage of Bitcoin is its independence from world governments, banks and corporations. Not one authority can interfere into BTC transactions, impose transaction fees or take people’s money away. Moreover, the Bitcoin movement is extremely transparent - every single transaction is being stored in a massive distributed public ledger called the Blockchain.

Essentially, while Bitcoin is not being controlled as a network, it gives its users total control over their finances.

How does Bitcoin work?

A user sees only amount of Bitcoins on his or her wallet and and transaction results.

Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed. Digital records of transactions are combined into "blocks".

If someone try to change just one letter or number in a block of transactions, it will also affect all of the following blocks. Due to it being a public ledger, the mistake or fraud attempt can be easily spotted and corrected by anyone.

User's wallet can verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses.

Because of the verification process and depending on the trading platform, it may take a few minutes for a BTC transaction to be completed. The Bitcoin protocol is designed so that each block takes about 10 minutes to mine.

Scheme How does Bitcoin work, Bitcoin transaction

Characteristics of Bitcoin
Decentralised
One of Satoshi Nakamoto’s main objectives when creating Bitcoin was the network’s independence from any governing authorities. It is designed so that every person, business, as well as every machine involved in mining and transaction verification, becomes part of a vast network. Moreover, even if some part of the network goes down, the money will keep moving.

Anonymous
These days banks know virtually everything about their clients: credit history, addresses, phone numbers, spending habits and so on. It is all very different with Bitcoin, as the wallet doesn’t have to be linked to any personally identifying information. And while some people just simply don’t want their finances to be governed and tracked by any kind of an authority, others might argue that drug trade, terrorism and other illegal and dangerous activities will thrive in this relative anonymity.

Transparent
The anonymity of Bitcoin is only relative, as every single BTC transaction that ever happened is stored in the Blockchain. In theory, If your wallet address was publicly used, anyone can tell how much money is in it by carefully studying the blockchain ledger. However, tracing a particular Bitcoin address to a person is still nearly impossible.

Those who wish to stay anonymous with their transactions can take measures to stay under the radar. There are certain types of wallets that prioritise opaqueness and security, but the simplest measure would be to use multiple addresses and not transfer massive amounts of money to a single wallet.

Fast
The Bitcoin network processes payments almost instantaneously, it normally takes just a few minutes for someone on the other side of the world to receive the money, while normal bank transfers can take several days.

Non-repudiable
Once you send your Bitcoins to someone, there is no way of getting them back, unless the recipient would want to send them back to you. This ensures the reception of a payment, meaning that whoever you’re trading with can’t scam you by claiming that they nev

Friend, thank you very much for giving us this information about Bitcoin, I really did not know about it, but with your contribution I have learned a little more about that cryptocurrency that is so important in this world of cryptocurrencies, without a doubt many thanks.

[TimopheyKa 3900]

Bitcoin is the world's first decentralized digital cryptocurrency. The Bitcoin network appeared in 2009, it works by mining as a result of which BTC coins are extracted. Transactions in the BTC network occur on a peer-to-peer basis, which means direct transfer of funds from one user to another, without the participation of third parties and regulatory authorities in the form of banks, the state, etc.
 

The bitcoin cryptocurrency is based on blockchain technology, which fundamentally distinguishes It from all previously created electronic currencies and payment systems. The Bitcoin (BTC) blockchain is not tied to any physical assets or "official" Fiat currencies, and the price of a digital BTC coin is regulated solely by market supply and demand, i.e., what value people themselves invest in it, similar to gold, for example. 
 

Bitcoin has another big similarity with gold — limited stock and total quantity. In the case of bitcoin, its number is strictly limited to 21,000,000, while in 2019 17,600,000 BTC has already been mined, i.e. more than 83%.

[Sofia Bravo 704]

very good information, since bitcoin is the main currency and the one with the highest value in the market and therefore everyone seeks to invest in it

[ossama 150]

this was such a great post that I really enjoyed reading it and the btc is really important coin and it was the first step in the cryptocurrencies world 

[abi001 181]

I heard that before $1 is equal to few Bitcoins but now there is a lack of bitcoin Bitcoin so it is very rare to see Bitcoins with the people because one Bitcoin costs you many more dollars now,but the info of Bitcoins you gave was excellent and still learning about this

Edited November 22, 2020 by abi001

[Hauwamambe 69]

Well bitcoin simply put is a decentralized crypto currency that gives you privacy and total control over your money. You will be free from the policies that banks keeps introducing and taking your money. Bitcoin is a place that your money would be safe.

[Cryppro 1008]

I have learned many things from this post and to read the history of the bitcoin I feel very happy because during 2008 the time was very old and even most of the countries just started to develop and there are some people who think beyond the world and created digital currency's on their own Blockchain and it is decentralised. I will salute to all the creator of the bitcoin.

[Zamani1 17]

Thank you for this very vital information on bitcoin. Infact i must commend you that you have done a great job by making this post more informative and well understood. I really learnt a lot from this as a beginner as this gives me more knowledge about bitcoin.

 

[scorpiali 5626]

I hope it's not copy from other website and past here in this forum we really donned that and we can't learn like that because anyone can search and find that,we need your ideas and your vision of bitcoin and history and talk about,let's discuss, like that we can't get any discussio.But any way it's a good job

[Jack0009 626]

Bitcoin is a digital currency.  Bitcoin is a very valuable currency.  The history of Bitcoin is much better.  Bitcoin will become better and more valuable in the future.  Bitcoin is one of the best currencies in cryptocurrency.  Thank you.

[Lakis 53]

it is really very useful, I am just starting and this seems to me an excellent summary, more than that, a definition with certain features and tips that will help us do things in the best way possible, with this I understand a little more and I will be able to advance in this long way, with great expectations, I like this kind of publications, so I can improve my knowledge about..

[Batulaedozhigi 101]

On 10/5/2020 at 4:53 PM, anamatrix25 said:

Bitcoin definition

Bitcoin (BTC) is a digital currency, which is used and distributed electronically.

Bitcoin is a decentralised peer-to-peer network. No single institution or person controls it.

Bitcoins can’t be printed and their amount is very limited – only 21 mln Bitcoins can ever be created.

Who created Bitcoin?
Bitcoin was first introduced as an open-source software by an anonymous programmer, or a group of programmers, under the alias Satoshi Nakamoto in 2009. There has been a lot of rumours about the real identity of BTC’s creator, however all of the people mentioned in those rumours have publicly denied being Nakamoto.

Nakamoto himself once claimed to be a 37-year-old male living in Japan. However, because of his perfect English and his software not being labeled in Japanese, there are reasonable doubts about this. Around mid-2010, Nakamoto moved on to other things, leaving Bitcoin in the hands of a few prominent members of the BTC community. Also Satoshi named Gavin Andresen a lead developer.

It has been estimated that Nakamoto owns around one mln Bitcoins, which amounts to approximately $3.6 bln as of September 2017.

Who controls Bitcoin?
According to Gavin Andresen, the very first thing he focused on after Nakamoto moved on from the project was further decentralisation. Andersen wanted Bitcoin to continue its existence autonomously, even if he would ‘get hit by a bus’.

For a lot of people, the main advantage of Bitcoin is its independence from world governments, banks and corporations. Not one authority can interfere into BTC transactions, impose transaction fees or take people’s money away. Moreover, the Bitcoin movement is extremely transparent - every single transaction is being stored in a massive distributed public ledger called the Blockchain.

Essentially, while Bitcoin is not being controlled as a network, it gives its users total control over their finances.

How does Bitcoin work?

A user sees only amount of Bitcoins on his or her wallet and and transaction results.

Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed. Digital records of transactions are combined into "blocks".

If someone try to change just one letter or number in a block of transactions, it will also affect all of the following blocks. Due to it being a public ledger, the mistake or fraud attempt can be easily spotted and corrected by anyone.

User's wallet can verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses.

Because of the verification process and depending on the trading platform, it may take a few minutes for a BTC transaction to be completed. The Bitcoin protocol is designed so that each block takes about 10 minutes to mine.

Scheme How does Bitcoin work, Bitcoin transaction

Characteristics of Bitcoin
Decentralised
One of Satoshi Nakamoto’s main objectives when creating Bitcoin was the network’s independence from any governing authorities. It is designed so that every person, business, as well as every machine involved in mining and transaction verification, becomes part of a vast network. Moreover, even if some part of the network goes down, the money will keep moving.

Anonymous
These days banks know virtually everything about their clients: credit history, addresses, phone numbers, spending habits and so on. It is all very different with Bitcoin, as the wallet doesn’t have to be linked to any personally identifying information. And while some people just simply don’t want their finances to be governed and tracked by any kind of an authority, others might argue that drug trade, terrorism and other illegal and dangerous activities will thrive in this relative anonymity.

Transparent
The anonymity of Bitcoin is only relative, as every single BTC transaction that ever happened is stored in the Blockchain. In theory, If your wallet address was publicly used, anyone can tell how much money is in it by carefully studying the blockchain ledger. However, tracing a particular Bitcoin address to a person is still nearly impossible.

Those who wish to stay anonymous with their transactions can take measures to stay under the radar. There are certain types of wallets that prioritise opaqueness and security, but the simplest measure would be to use multiple addresses and not transfer massive amounts of money to a single wallet.

Fast
The Bitcoin network processes payments almost instantaneously, it normally takes just a few minutes for someone on the other side of the world to receive the money, while normal bank transfers can take several days.

Non-repudiable
Once you send your Bitcoins to someone, there is no way of getting them back, unless the recipient would want to send them back to you. This ensures the reception of a payment, meaning that whoever you’re trading with can’t scam you by claiming that they nev

This has examined it all. Bitcoin has turned to be something that even governments are after and this is because it is being recognized in the world as a good project. It's importance and use just keep increasing daily.

[Cryptomint 433]

Yes this is good information and we all know that what is the history of Bitcoin how it completed it journey and how it become popular...

[alaarami 103]

Thank you, dear, this information is wonderful and comprehensive for all members, as you explained in this post the creation of the Bitcoin currency, as the acquisition of that currency is wonderful, as the currency is increasingly popular day by day, and this is what makes Bitcoin spread and increase very quickly.

[zeshan1122 654]

now we know that there are team members each time a new coin is introduced so where is the team of the bitcoin and how the bitcoin is the been working yet.