What is Bitcoin?

The Bitcoin is like other currency like de Dollar or Euro, to be exchanged for goods and services however the Bitcoin is an electronic currency and its outstanding by the efficiency, security and easy interchangeability

The Bitcoin was a project made by Satoshi Nakamoto and it became open source in 2009, bitcoin use a p2p connection, the bitcoin isn’t regulated by any government.

How does the Bitcoin works?

this is a general description im not going to talk about the details of the protocols etc etc. Basically the bitcoin is regulated by the persons that use this currency, you need to download the Wallet for the bitcoin or register and get your address in a page like coinbase or blockchain, Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and is rewarded by transaction fees and newly created bitcoins.

Use of the Bitcoin

In some countries you can pay your services with this currency and with the time is more accepted this currency, there are a lot of stores that accept Bitcoins, now even microsoft accept this currency, if more people use the Bitcoin the network will grow more and more

If you want more dails you can go and ask wikipedia this is just a general view of the bitcoin

Posted on 5/07/2015 by

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