WHAT IS BITCOIN?
DESCRIPTION
Bitcoin is a decentralized digital currency invented by pseudonymous author Satoshi Nakamoto. Each bitcoin is divided into 10 million smaller units called Satoshis, and it is also used unit called bit. One million bits would be the equivalent of a bitcoin. The Bitcoins are considered internet cash, and while developing its full potential is yet to come, it is the alternative most used currency.
Instead of being created by a central authority, the peer-to peer bitcoin network regulates the creation and exchange Bitcoins into their public ledger. There are nodes that are dedicated to create and verify Bitcoins using mathematical operations that require high capacity computing power. It is established that there will be only 21 million Bitcoins, a figure which is estimated to be reached in 2140. |
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WHY SHOULD I HAVE BITCOINS?
Some of the advantages of having and using Bitcoins are the ability to spend and transfer money anywhere in the world without currency exchange, and no cost or negligible cost, allowing to use them in internet without banking services as intermediaries and very cheaper than credit or debit cards. It also assesses the major privacy that involves the use of Bitcoins in comparison with government money, and opportunity that can represent adopt electronic money as an investment in the hope of a new leap in the increase in value.
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AND HOW CAN I GET IT?
Bitcoins are achieved in the same way as any other form of money: working, selling goods and services, with gambling, or you can buy it with any other currency (euros , dollars , etc). Being an electronic currency, Bitcoins also achieved with the mining process used to create them. Since Terrabitcoin you will learn to use some of these forms easily.
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