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[BMF]

Most people seem to claim that Bitcoin was born on the 31st of October in 2008 by a group of people who took on the name of Satoshi Nakamoto. However, on the other hand, there is some that claim that Bitcoin wasn't born until the beginning of 2009. The exact date that Bitcoin was introduced to the world doesn't really matter, what matters is understanding what Bitcoin is.

When Bitcoin was introduced to the world by the group of people who created the currency they explained to everyone that this currency was known as a decentralized digital currency. They went on to claimed that it would allow people to send currency around the world in real time without the need of a third-party to perform the transactions. This meant that you no longer needed PayPal, Visa or even a bank to transfer currency anywhere in the world.

Bitcoin is actually separated into two separate components. The first component is the bitcoin-the-token that is actually a snippet of code that represents the ownership of the digital currency. You can think of this as a virtual IOU. The second component of Bitcoin is the bitcoin-the-protocol. This is the network that distributes and maintains all the ledgers of balances for the bitcoin-the-token. When you combine the two together, you now have Bitcoin.

Bitcoins are not a printed currency that you can take to a market to buy merchandise, but instead, they are a currency that is produced by computers worldwide that use a free software. As the concept started to grow and people started to invest in electronic currency people started to characterize this currency as a cryptocurrency.

The developers of Bitcoin explained the system as an electronic payment system that was based on mathematical proof. The idea behind Bitcoin was to produce a new means of exchange that was independent of any central authority. This gave people the chance to transfer currency electronically in a secure environment that used a verifiable and immutable way to complete the transactions.

The world still has no idea who actually developed Bitcoin. Some claim it was a single man that called himself Satoshi Nakamoto. While other indications show us that it was a group of software developers that came up with this idea and developed the program. The members of the group called themselves Satoshi Nakamoto.

Bitcoin has grown in popularity for the simple reason it is decentralized. No single institution or government controls the Bitcoin network. Instead, the network is maintained and controlled by a group of volunteer codes that are run on an open network. The network is maintained by groups of dedicated computers that are spread around the world.

Bitcoin has solved the double spending problem of electronic currencies. In the electronic fiat currencies that banks control the digital assets can be copied and re-used. Banks around the world have control over the traditional system. However, with Bitcoin no-one has control because the transactions are distributed by an open network.

With Fiat currency, a bank can print as many dollars, euros, yens or whatever currency they choose. There is an unlimited supply of Fiat currency that a bank has. The problem with this system is that banks can manipulate the value of this currency. This is a problem for the holders of this currency. They are the ones who bear the cost in the end.

The supply of Bitcoins is tightly controlled by an algorithm. Each hour a small amount of Bitcoin is produced. This will continue on until the cap is reached. Once 21 million Bitcoin has been produced it stops. The supply and demand of Bitcoin are very attractive. Since there is a cap on how many Bitcoins will be produced, but there is no cap on the demand of this currency. Therefore, as the demand grows so does the value of Bitcoins.

As an owner of Bitcoins, your identity is kept secret. There are no governmental agencies that need to verify who you are. Furthermore, there are no controls set in place demanding that you prove who you are when purchasing Bitcoins. Therefore, this makes the Bitcoin currency ideal for criminals, money-launderers, and terrorists. Your identity is kept a secret when making all transactions online.

Bitcoins are broken down into units. The smallest unit of a Bitcoin is called a satoshi. The Satoshi is one hundred millionth of a Bitcoin or 0.000000001. This Satoshi is worth around one-hundredth of a cent. The Satoshi conceivably enables microtransactions possible where traditional electronic money can't perform these types of transactions.

 

[elbally87]

Bitcoin is a decentralized digital currency that could be transferred on the peer to peer network. You can buy and sell bitcoin without any intermediary like bank and some countries like central Africa Republic and Salvador accept bitcoin as their official currency and most stores in USA also accept bitcoin as mode of payment

 

[Yugocean]

most stores in USA also accept bitcoin as mode of payment

Please name those most states.
Bitcoin is not accepted as legal tender in USA, hence it is not a mode of payment accepted by any state. Only federal law can decide mode of payment, states are allowing Bitcoin mining, but cannot change such economic requirements in which US dollar is involved.

 

[Finical]

Bitcoin being highly volatile, the current dip is just its nature. Stay calm, it'll recover.

 

[Yugocean]

Sarbian Prince Likes Bitcoin
Regarding other cryptocurrencies as being inferior to bitcoin, Prince Philip of Serbia has complimented bitcoin on the basis that it is entirely decentralised. Bitcoin, according to Philipp, is a solution to get hard currency without worrying about inflation.

 

[@dulce]

It is a virtual currency that has acquired great value in recent years, it can be used to exchange products

 

[Xrin Nightfall]

Between late 2020 and early 2021, the value of bitcoin and Ethereum fell by more than half. Though there have been some upticks in the last few weeks, the cryptocurrency sector as a whole has paused. Although nobody can say for sure, some analysts have predicted much lower cryptocurrency values before a possible long-term rebound.

Cryptocurrency continues to be a topic of conversation, not just among investors but also in society.

 

[Potuse]

Bitcoin is a decentralized digital money that is used to solve so many issues encountered with the fiat currency. With the Bitcoin, you can eliminate the issue of double spending that is often encountered with the fiat currency. It also gives you an autonomous power over your spendings.

 

[Yugocean]

Bitcoin in Canada Politics
Conservative party of Canada has declared Ottawa MP Pierre Poilievre as it's new leader. Pierre Poilievre is crypto supporter and Bitcoin Investor, by making him face of the party, Conservative party is trying to gain support of crypto supporters in Canada. Current Prime Minister Justin Trudeau is not BTC friendly. Bitcoin is playing major role in the politics of Canada

 

[Yugocean]

Nayib Bukele is running for re-election in El Salvador.

In El Salvador, the president can only be elected for two terms, but his two terms are not consecutive, that is, another person have to be elected as president in between two terms. nayib bukele has changed that.
.Bitcoin is giving power to Bukele.

 

[jonessmaryy]

The long wait for cryptocurrency investors has now come to an end as the digital assets are all geared up for a bull run. The month of July saw a slight bounce back and the coming months might be promising too. The Ethereum blockchain, which underpins the ether token, had a major upgrade over the weekend called the Merge that changes the way transactions are processed and cuts energy use.

 

[Yugocean]

BTC Reserve Building in Micro Strategy
Michael Seller, the former CEO of Micro Strategy, and bitcoin maximilist, still has the power to buy bitcoin using the company's funds. The firm recently bought 301 bitcoins for $6 million, followed by MicroStrategy's crypto treasury with over 130k bitcoins.

 

[Yugocean]

No Ban on Bitcoin in Russia

Russia has approved the use of Bitcoin for cross-border payments.Russian Central Bank and Ministry of Finance will togather draft bill on use of Bitcoin, Altcoins in international trade. This development is going on due to economic sanctions which Russia is evading.

 

[@dulce]

No Ban on Bitcoin in Russia

Russia has approved the use of Bitcoin for cross-border payments.Russian Central Bank and Ministry of Finance will togather draft bill on use of Bitcoin, Altcoins in international trade. This development is going on due to economic sanctions which Russia is evading.

Now that people are opening crypto wallets outside the Russian Federation, it is necessary to do so in Russia with entities supervised by the central bank, which are required to comply with Anti-Money Laundering and Know Your Customer requirements.

 

[Big_Bob342]

Thanks for information! Very helpful

 

[Potuse]

Bitcoin is a decentralized digital money that is gaining traction and becoming a household name. It is the king coin because the price of the Bitcoin influences the price of most of the cryptocurrencies in the crypto market. This explains why it is called the king coin. Bitcoin is limited in supply and that makes it a deflationary cryptocurrency.

 

[Ben Kempton]

Bitcoin is a decentralized digital money that is used to solve so many issues encountered with the fiat currency. With the Bitcoin, you can eliminate the issue of double spending that is often encountered with the fiat currency. It also gives you an autonomous power over your spendings.

Indeed, Bitcoin is being used by many people. However, this digital asset is actually volatile in nature just like any other kind of asset such as gold. As a result, this means that you could make profits when you receive bitcoins from people and when the value increases. At the same time, you could suffer from loss, in case the value decreases.

 

[Potuse]

Indeed, Bitcoin is being used by many people. However, this digital asset is actually volatile in nature just like any other kind of asset such as gold. As a result, this means that you could make profits when you receive bitcoins from people and when the value increases. At the same time, you could suffer from loss, in case the value decreases.

This is inevitable because it happens every time. The last payment I received from beermoneyforum was affected by the market fluctuations. The price of BCH dropped and I didn't receive the accurate value. I lost about 30 cents to market fluctuation.

 

[Potuse]

I heard about bitcoin when i was around junior secondary school but it was unfortunately that I didnt know anything about crypto the way i know it now, maybe i would have try to mine it then. I pray i never miss that kind of opportunity again in my life.

Mining bitcoin with your phone or your PC will give you nothing . It is a total waste of time. You would have benefited immensely from bitcoin if you had bought some at that time and keep . That is exactly what will give you a reasonable amount of money.

 

[Ben Kempton]

This is inevitable because it happens every time. The last payment I received from beermoneyforum was affected by the market fluctuations. The price of BCH dropped and I didn't receive the accurate value. I lost about 30 cents to market fluctuation.

Well, you also have the option to receive payments through payment processors such as Perfect Money, Skrill, Payeer, etc. I prefer to receive my hard earned money through Payeer and I love Payeer. Since the market value of coins is fluctuating, receiving payments through cryptocurrencies might lead to such unpreventable losses. You have to check your wallet repeatedly when you receive money through cryptocurrencies.

 

[Yugocean]

Mining bitcoin with your phone or your PC will give you nothing . It is a total waste of time. You would have benefited immensely from bitcoin if you had bought some at that time and keep . That is exactly what will give you a reasonable amount of money.

When BTC was new, it was PC that was used to mint it, later it keep becoming difficult to mine it, as it keeps becoming popular; now only heavy energy consuming devices are able to mine Bitcoin, and this is done by mining companies, who set up their mining plant on different locations of the world.