WHAT IS BITCOIN ?

By

  


** Please use "Desktop site mode" in Mobile.**


What is bitcoin? 


It was created in 2009 by an unknown person using the alias Satoshi Nakamoto. 
Maketplace called "Bitcoin exchange" allow people to buy or sell bitcoin using currency. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
The unit of amount of the bitcoin system is a bitcoin. Ticker symbols used to represent bitcoin are BTC and XBT. Its Unicode character is ₿. Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing ​1⁄100000000 bitcoins, one hundred millionth of a bitcoin. A millibitcoin equals ​1⁄1000 bitcoins; one thousandth of a bitcoin or 100,000 satoshis.

Why bitcoin?

Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.


Buying bitcoins

Buy on an Exchange

Many marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Coinbase is a leading exchange, along with Bitstamp and Bitfinex. But security can be a concern: bitcoins worth tens of millions of dollars were stolen from bitfinex when it was hacked in 2016.


Transfer :


People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally.



Mining :



People compete to “mine” bitcoins using computers to solve complex mathematics puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 12.5 bitcoins roughly every 10 minutes.



Bitcoin wallet :

           







Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.



Bitcoin’s future in demand ?


No one knows what will become of bitcoin. It is mostly unregulated, but some countries like Japan, China and Australia have begun weighing regulations. Governments are concerned about taxation and their lack of control over the currency.



Some facts :











Some great recommendations videos 

English language : CLICK HERE

Hindi language :CLICK HERE

Comments

Post a Comment

Popular posts from this blog

How to Crack AWS Associate Level Solution Architect certification exam.

By
Image
Cracking the AWS Solutions Architect Associate exam is a significant undertaking, demanding more than just theoretical knowledge. Unlike the Cloud Practitioner exam, success here often requires a minimum of two years of hands-on experience in the field. This certification delves into advanced architectural concepts, assessing your ability to design scalable and fault-tolerant systems on the AWS platform. Navigating this certification path necessitates a strategic approach. 1.   Choose the Right Learning Platform:      Start your AWS Solutions Architect Associate certification journey by enrolling in a comprehensive course on a digital platform. There are several options available, but here are a few highly recommended ones:    -   Stephane Maarek's Udemy Course (Paid):        Considered a top-rated course on Udemy, Stephane Maarek's program provides in-depth coverage along with valuable notes. You can find the co...
Read more

Varanasi - A Journey of Spirituality and Serenity

By
Image
Benaras, Varanasi, Kashi, or Banaras - regardless of the name, this ancient city has the power to transform your perception of life and spirituality.  Mark Twain once said, "Benaras is older than history, older than tradition, older even than legend, and looks twice as old as all of them put together."  Varanasi, one of the world's oldest continually inhabited cities, is a melting pot of cultures, religions, and traditions, offering a glimpse into India's rich past and spiritual depth. The Journey from Bengaluru to Varanasi The 45-hour train journey from Bengaluru to Varanasi was a mix of excitement and anticipation. Varanasi, also known as the spiritual capital of India, is steeped in mythology and history, making it a must-visit destination for those seeking spiritual enlightenment and cultural immersion. The train journey itself is an experience, passing through diverse landscapes and offering a glimpse into the heart of India. Exploring the Spiritual Heart of Vara...
Read more

A Journey Through Kerala's Rich Tapestry

By
Image
   Bengaluru to Kochi: An Appetite for Adventure The journey begins in Bengaluru, where a night train sets the stage for an 11-hour ride to the historic city of Kochi. Once in Ernakulam, a quick breakfast at the iconic Indian Coffee House fuels the start of a memorable day. With just 6₹ in hand, a jetty ride to Fort Kochi becomes both a budget-friendly and picturesque experience. Fort Kochi, a place steeped in history from Vasco da Gama to Dutch and British influences, becomes the backdrop for exploration. Armed with a vintage diary from an old art souvenir shop, the traveler charts a course through Kochi Fort, Vayapin Fort, and the bustling Marine Drive main market. A visit to Jew Town and its Dutch Palace completes the historical immersion, while savoring Kerala cuisine at Machlii Restaurant and Kasa Kitchen adds a flavorful touch. Amidst the vibrant cityscape, the allure of Kochi's yellow trucks and green city buses captures the traveler's attention. Kochi to Alleppey: Navi...
Read more

How to crack AWS Cloud Practitioners exam.

By
Image
     Steps for Passing AWS Cloud practitioner Exam: 1. Enroll in proper course on digital platform : There are lot of courses in market but here the main few recommadations   * This is paid course in Udemy by Stephane maarek. Most of the people go for this top rated course with notes. click here  LINK   * This course is from amazon AWS free of cost you can enroll  it and after complition you will get certificate. click here  LINK * Best course on youtube by freecodecamp. well it is long and so in details. click here  LINK 2. Make proper time-table like what to study in daily basis   Give at least 2-3 daily basis according to your time. 3. Books  these books give full details explanation about every aws services. * AWS certified cloud practitioner all-in-one exam Click here   DOWNLOAD  (This is in EPUB format so use epub reader for open.) * AWS CCP study guide Click here  Download 4. Watch videos on youtube this i...
Read more

Top 25 Books Must Read. Part_1

By
Image
  According to me,  Reading is good for you because it  improves your focus, memory, empathy, and communication skills . It can reduce stress, improve your mental health, and help you live longer. Reading also allows you to learn new things to help you succeed in your work and relationships and many other ways. Here some exmple, ----------------------------------------------------------------------------------------------------------------------------- Bill Gates The man who unleashed Microsoft onto the world, Bill Gates  reads 50 books a year . The result? He is currently second highest wealthiest person in the world with 97.4 Billion US$.   2 . Warren Buffet Warren Buffet claims to  read 500 pages a day.  He stated that he devotes about  80%  of his time to reading. Perhaps it isn’t a coincidence that he’s one of the richest man in world. 3.  Mark Cuban Mark cuban, another successful billionaire  reads 3 hours a day,  tha...
Read more