Overview

16/10/18 03:35 UTC-4

Bitcoin Gold coins

Uniqueness and Benefits of Bitcoin
Uniqueness and Benefits of Bitcoin

Bitcoin coin is a new kind of decentralized digital currency. A coin was created and operated only on the Internet. No one controls the system. Currency emission occurs through the work of millions of computers around the world using a program for calculating mathematical algorithms.

 

main advantages

Bitcoin makes payment on the Internet system, as well as the dollar, euro, hryvnia or ruble and is traded on stock exchanges. The most important difference between Bitcoin and all other forms of currencies is decentralization. No institution controls Bitcoin. In terms of independence, this is a plus. But in many this situation causes distrust.

Interesting in the section: White Paper, as source of Bitcoin

Advantages: decentralization, anonymity, minimum fees, no limits and other restrictions, money transfers at any time (24/7), instant transactions, security.

 

creating bitoсin

Satoshi Nakamoto became the creator of Bitcoin in 2009. Satoshi invented Bitcoin digital coins as an online platform based on mathematical calculations. The essence of the idea was to independently launch a means of exchange, which can be sent electronically in a secure way.

In simple words, Bitcoin is a program that opens access to the electronic Bitcoin-Wallet. Also, under Bitcoin, there is an available registry called Blockchain It contains the history of all manipulations and conducted transactions. And most importantly – they can be seen and controlled by absolutely any user around the world.

 

Bitcoin-pizza

The first Bitcoin payment transaction took place on 22.05.10. That day, Laszlo Hanyecz from Florida bought pizza for 10.000 coins of digital gold, Laszlo was interested in the very idea of ​​such a payment. It turned out very profitable for the seller pizza deal. After all, the cost of pizza was about $ 25, and 10,000 Bitcoin coins – $ 41.

Interesting in the section: Main Features and Future of the Decred

In 9 months after the transaction, digital coins significantly increased in price. And in 2015 was the anniversary of Bitcoin-pizza – two pieces of the test were estimated at $ 2.4 million. And for today electronic coins cost slightly more than 8200 $. But despite the colossal growth of Bitcoin, Hanyecz did not regret the deal, because this day went down in history!

Editor: Yuliya Soroka

#BTC #bitcoin #cryptocurrency #blockchain

Comments

Similar

04/04/19 03:30 UTC-4

What is USDC? Complete Starter Guide for USD Stablecoin

​Description and characteristics USD Coin (USDC) is a type of cryptocurrency that is called a stable coin. You can always buy back a coin of 1 US dollar for 1 US dollar, providing it with a stable price.

12/07/19 05:00 UTC-4

Financial geography: countries where cryptocurrency is banned

Although cryptocurrencies have become an innovative novelty of the modern financial sector, they are not accepted in all states. There is a list of countries where the possession of cryptocurrency assets is not only prohibited, but also criminally punishable.

25/06/19 10:16 UTC-4

With the CEX.IO app, Bitcoin is in your pocket

​In a very short period, many cryptocurrency applications have appeared, worth billions of dollars. Cryptocurrency trading is now entering the mainstream, and traders should check prices constantly and even on the go on their Android or iOS devices.

12/05/19 05:00 UTC-4

Buy Bitcoin in 2010: how much did those who invested in BTC earn a few years ago?

​Bitcoin is the first and most popular cryptocurrency in the world. The maximum price increase of digital gold was recorded in December 2017, when the cryptocurrency overcame a maximum of $ 20,000. However, many do not recall that at the beginning of their existence, BTC coins were worth less than one dollar.

31/01/19 07:56 UTC-4

Proof of Work (PoW) – consensus algorithm and mining-tool

Today, cryptocurrencies have become an integral financial instrument. Many countries use crypto-coins and blockchain to improve the financing system and other areas of life. One of the popular terms that often appears in conversations about cryptocurrency is Proof of Work or PoW.