Since I'm new to this development, I'd seen information about the new digital currency (Bitcoin) online as I tried to learn more about it. There are countless articles on blockchain technology and the idea of mining on Google. Google searches return a ton of articles discussing the blockchain system and the idea of mining. However, I've discovered that none truly respond to the query "What is Bitcoin?"
I can produce a one-pound bill for a friend to grasp and inspect if they were to ask me, "What is a pound?" When he inquires about what a bitcoin is, what can I provide for them to review? Is there a list of figures I can print out and use as my reference? Alternatively, should I point to an entry on a public ledger and say, "There! That shows my bitcoin history!"
Basically, I'm curious to know what a bitcoin or any cryptocurrency unit looks like in real life.
This is the peculiarity of bitcoin, that physically it doesn't exist and can't exist, which means that it can't be seen, touched like a coin or banknote. Actually, this is not the most surprising thing about btc. Virtual money has existed before and is very diverse. In fact, when sending bitcoin to someone, either btc is not sent anywhere, but only information about this is transmitted to the blockchain. You can't own a btc, but you can get ownership.