Hello guys welcome to my another blog. In this blog, I will give you some information about Bitcoin and how Bitcoin works.
So let's go!!
Introduction.
Bitcoin is a cryptocurrency. It is a digital cash without a central bank and single administrator that can be sent from user to use and peer- to- peer Bitcoin network.
Development of Bitcoin.
It is not confirmed that the bitcoins are developed by one person or group of people, but it is developed under pseudonym Satoshi nakamoto who created digital cash due to financial crisis in the year 2008.
Founder of Bitcoin.
Satoshi nakamoto is the founder of bitcoin.
Satoshi nakamoto is the first who develop bitcoins.
CEO of Bitcoin.
Roger ver is the CEO of the company who had gained control over the bitcoin. Com domain named in April 2014.
What is the value of Bitcoin?
The current value of Bitcoin is equal to.
$7345.99 as on this month.
The price of bitcoins is not fixed. The price of bitcoins determined by the market force of demand and supply.
Anyone can invest their money in bitcoins.
Converted into cash.
Bitcoin can be converted to cash.
Over thousand of computer are used to convert bitcoin (virtual) currency to real currency.
There are various possible ways to convert into cash. But the most convenient way is to moving to the bank account.
And the second one is to sale your Bitcoin to another person. You can sale your bitcoins on cryptocurrency exchange such as coinbase and Kraken.
Third way to convert your bitcoins into cash is use bitcoin ATM.
How many bitcoins are lost and left.
According to chainalysis, a research firm that analyzes activity of various cryptocurrency market bitcoins that lost and never found is estimated almost.
2.5–3.5 million.
The total number of bitcoin that are existed currently is 17,928,250. The number keeps on fluctuating depend upon the number of block mined.
In every 10 minutes a new block mined.
Are bitcoins free?
Bitcoins required money only when someone has to invest their money.
There is no other government taxes.
Bitcoins is free from a government interference and manipulation.
People do not need to pay taxes and interest.
What is Blockchain?
Bitcoin's payment network also called as blockchain make it possible for us to transact with one another.
It is a public ledger which is a record of all transactions in bitcoins history.
Scott Stornetta is the regards as the Father of Blockchain.
Are Bitcoin is illegal?
According to the news report it is indicated that bitcoins are used in currency in the world.
An announcement made by Costa Rican central bank. According to the announcement bitcoins are not the real currency it is a digital currency, and not backed by the government nor laws.
But Bitcoin are not illegal there are few merchants who do accept Bitcoin in the country.
Who runs bitcoin website?
Bitcoin is originally control and owned by two developers namely Satoshi Nakamoto and Martti Malmi.
However, nobody owns the technology behind email. Bitcoin is controlled by all bitcoins user all over the world.
Identity is secure.
The greatest advantage of Bitcoin is the identity of the bitcoin's owner is secure.
No one can find the location of the bitcoin's owner.
Bitcoin is completely safe and secure.
Richest Bitcoin owner.
1) The Winklevoss Twins.
2)Barry Silbert.
3)Tim Draper.
4)Charlie Shrem.
5)Tony Gallippi.
6)Satoshi Nakamoto.
7)Uncle Sam.
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