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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 ?
How bitcoin worksBitcoin is a digital currency that is not tied to a bank or government and allows its users to shop without revealing their identity. This coin was created by users who "mine" their currency by lending computing power to verify other user transactions. They accept bitcoin in return. These coins can also be bought and sold by swapping US dollars and other currencies .
Bitcoin is not dead lol. The price is getting low but bitcoin will not die quickly we can recover it in somehow. Many people thought bitcoin is secretly dying I just wanted to say that its wrong Bitcoin will back soon to higher value.
Why Bitcoin Can not Die?Bitcoin has fallen several times. Since its publication in 2009, Bitcoin has experienced massive cyber attacks, scam activities, and falling prices. once in 2011 the price of 1 BTC up to 31.91 USD, then dropped to below 2 USD. Now at the time this article was written, 1 Bitcoin appreciated 122 USD.
Strongly agree !!, by sharing the development and growing rapidly, Bitcoin is the latest economic form. bitcoin will not die and even grow more fertile.
For me, Bitcoin has many advantages, one advantage is it gives to the individual money to sustain the basic needs, It also reduce the increasing number of unemployed in some countries, The people who work in bitcoin develops the ability to reason out, enhanced the English proficiency, that's the some advantage of bitcoin.
Bitcoin has many advantages, among them are:1. In terms of Security
With bitcoin cryptographic security system it is very difficult to forge it is clearly inversely proportional to the conventional currency that is very easy to fake.
especially the amount of bitcoin that has been created and transactions conducted every day will be recorded in the blockchain so it will be known how many existing bitcoin and transactions that have been done.
So BitCoin is very safe to use.
2. Easy to Use
digital currency this one is very easy to use because this one currency is digital and already recognized by the world.
If a conventional currency requires a bank account to make money transfers. bitcoin requires only a wallet or bitcoin wallet that can be made easily and without complicated requirements like creating a bank account .
Hello pals,
Recently I introduced Bitcoin and cryptocurrency to my friends and family,they liked the concept but they asked me a question that I wasn't able to answer.Is Bitcoin really secure?What if a hacker was able to hack Bitcoin system/blockchain?Who manages Bitcoin security and what are the security measures taken to avoid hackers being able to steal Bitcoins?Why Bitcoin is not blocked for those who use it illegally by buying/selling in the deepweb market?What if governements ban Bitcoin because of these people?
I really appreciate if you guys give me some answers
You might think that an open source bitcoin system allows a genius computer to break into a bitcoin system and publish a number of bitcoins for itself. In fact this system has been reviewed by various circles as flawless. any past transaction data is stored in all peers across the network, and should be in order. Each new transaction will be verified by a number of newly declared valid peers.Recently I introduced Bitcoin and cryptocurrency to my friends and family,they liked the concept but they asked me a question that I wasn't able to answer.Is Bitcoin really secure?What if a hacker was able to hack Bitcoin system/blockchain?Who manages Bitcoin security and what are the security measures taken to avoid hackers being able to steal Bitcoins?Why Bitcoin is not blocked for those who use it illegally by buying/selling in the deepweb market?What if governements ban Bitcoin because of these people?
I really appreciate if you guys give me some answers
Secure, insecure bitcoin systems are users and money exchangers. just like internet banking passwords, hackers can easily steal some money from you if the computer is infected with a virus .
Bitcoin is going down very hard till now after touch ATH last year. Any idea what caused it? And what the impact to other altcoins? Any opinion when bitcoin will be rise up again?
Feel free to answer my questions and thanks for your participation.
The value of a number of major virtual currency fell sharply on Tuesday (16/1/2018).Feel free to answer my questions and thanks for your participation.
The decline was due to investors monitoring the warnings from some regulators and increasing crackdowns on the virtual currency market in China.
citing CNBC, a sharp fall in bitcoin prices, hinggan reaching its lowest point in 1.5 months. In addition, the price of ethereum and ripple also declined significantly
A Bitcoin wallet is a product program where Bitcoins are put away. To be actually exact, Bitcoins are not put away anyplace; there is a private key (mystery number) for each Bitcoin address that is spared in the Bitcoin wallet of the individual who claims the adjust. Bitcoin wallets encourage sending and getting Bitcoins and gives responsibility for Bitcoin adjust to the client. The Bitcoin wallet comes in many structures; desktop, versatile, web and equipment are the four fundamental sorts of wallets.
DEFINITION OF BITCOIN DOMPET. Wallet Bitcoin, is the place (purse) of Bitcoin storage. Somebody, will not be able to have Bitcoin without Bitcoin storage (Bitcoin Wallet / Wallet Bitcoin). Bitcoin wallet function is to store some cryptographic keypair, or more commonly known as "Bitcoin Address" (Bitcoin address) .How Is Bitcoin In The Future?
The number of altcoin that popping up sometimes for me to think how bitcoin 10 years from now
Is it still exist or has been replaced with a new type of better currency ? Many altcoins can now be traded with local currency and other altcoins and are not fixated on bitcoins.
Question:
1. What is your Prediction ?
2. And what the reason ?
Maybe that's what I want to ask , hopefully the answer can answer the question in my brain. thanks
Related to price movements, ups and downs of pure Bitcoin prices due to the level of demand and supply. no one can predict the price of Bitcoin, but as more countries and merchants receive payments in the form of Bitcoin, Bitcoin's future existence is predicted to continue growing. and the price is predicted to increase over time due to the limited supply of Bitcoin, which will only be 21 million Bitcoin available in the worldThe number of altcoin that popping up sometimes for me to think how bitcoin 10 years from now
Is it still exist or has been replaced with a new type of better currency ? Many altcoins can now be traded with local currency and other altcoins and are not fixated on bitcoins.Question:
1. What is your Prediction ?
2. And what the reason ?
Maybe that's what I want to ask , hopefully the answer can answer the question in my brain. thanks
Prediction is a tricky business.
Its so easy to be wrong and so hard to be right.
The bitcoin future policy of digitalization of technology has given birth to Bitcoin as an exciting new currency for the world community. he becomes an alternative to complementing the needs of financial transactions at global level that crave convenience, efficiency and security. Bitcoin has accelerated the amazing functionality of mere technology products into the 'idols' of wealth. not a few people of the world believe Bitcoin will be a future currency of excellence and digdaya.Its so easy to be wrong and so hard to be right.
-I think It is popular. many people accept and trade in Bitcoin because It is recognized and accepted as a currency by many.
-Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax
-Bitcoin acts like an equity investment. The market value of Bitcoins has had wild swings in value and even a market cap.
-Bitcoin is a social network. The Bitcoin "community" is active and acts like other online social networks.
-There are only 21 million bits so it has the same value as gold.
With the good Bitcoin market, there are a variety of digital currencies, one of which is called bitcoin cash, we will always be confused, in fact, when I first saw it, I feel the two of them are the same. Do you think they are the same? Can someone give me a professional explanation of what makes them different?
Differences Bitcoin BTC and Bitcoin Cash BCH - For some bitcoin activators cryptocurrentcy bitcoin cash (BCH) may not be as Bitcoin (BTC). the thing behind the formation of BCH is the slow ability of Bitcoin to process data transactions on a large scale effectively. About virtual currency, there are 03 different understandings:
Money is unmanageable, no physical shape and is used in electronic environments, it is called virtual money.
The type is not real value, not guaranteed by cash, gold, and valuable assets.
The money is usually used to pay for games in electronic games, each type of game has a different currency and they can not be used to exchange for each other or to bring out the electronic environment to buy. Other service products are.
The concept of virtual money is born, widely used and most often by the third interpretation itself. With this kind of money, the balance can be managed and easily changed by the issuer without affecting the financial or market economy.
Virtual is defined as having no basis of physical reality.virtual currency has been defined since 2012 by the European central Bank as a form of currency without rules or regulations created and supervised by the developer for use by its specialized members of the virtual communityMoney is unmanageable, no physical shape and is used in electronic environments, it is called virtual money.
The type is not real value, not guaranteed by cash, gold, and valuable assets.
The money is usually used to pay for games in electronic games, each type of game has a different currency and they can not be used to exchange for each other or to bring out the electronic environment to buy. Other service products are.
The concept of virtual money is born, widely used and most often by the third interpretation itself. With this kind of money, the balance can be managed and easily changed by the issuer without affecting the financial or market economy.