Post
Topic
Board Bitcoin Discussion
Re: How bitcoin work as a currency ?
by
MainIbem
on 19/03/2018, 10:38:13 UTC
Bitcoin isn't attached to a state or government, so itu doesn't have a central issuing authority or regulatory body, bassically, that means there's no organizational deciding when to make more bitcoins, digiring out how many to produce, kering track of where they are, so how does bitcoin work as a currency ?

If I can give you some advice, I would suggest that you use some Spell checker, before you post something on the forum. It is very difficult for us to figure out what you are trying to ask.

1. Bitcoin is not attached to a state or government, so it does not have a central issuing authority or regulatory body, basically, that means there is no organization, deciding when to make more bitcoins

Answer : Yes, it was developed that way on purpose. Nobody should manipulate currencies apart from market forces. The software introduced by Satoshi Nakamoto and given to the world, will manage the supply at a predetermined rate. So everything is predictable and transparent.

2. keeping track of where they are, so how does bitcoin work as a currency ?


Answer : The Blockchain that are stored on a decentralized network, keep track of all bitcoins that are produced and moved from one address to another.

Thank you for the correction. I am not the originator of the post, but such good gesture is commended. It help to bring out the substance of the discussion.
Was bitcoin actually designed as a currency? Or was it a vehicle for the implementation of the blockchain technology?