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[Mar20]

Bitcoin is a decentralized digital currency that was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. The idea behind Bitcoin was to create a new form of money that was not controlled by any central authority or government.
The creation of Bitcoin was driven by several factors, including the global financial crisis of 2008, which led many people to lose trust in traditional financial institutions and central banks. Bitcoin was designed as a decentralized alternative to traditional fiat currencies, with a limited supply and the ability to transfer value directly between individuals without the need for intermediaries.
Bitcoin was created using a technology called blockchain, which is a decentralized ledger that records all transactions on the network. This allows for a secure and transparent record of all transactions, without the need for a central authority.
In the years since its creation, Bitcoin has become one of the most well-known cryptocurrencies and has inspired the creation of thousands of other digital currencies. Despite its volatile price and the controversy surrounding it, Bitcoin has gained significant mainstream attention and adoption, and many believe that it has the potential to change the way we think about money and finance.
Overall, the history of Bitcoin is relatively short, but it has had a profound impact on the world of finance and technology and has sparked a revolution in the way we think about money and the role of central authorities in the financial system.

 

[btaliat]

The purpose of creating bitcoin is to have money that no state controls and that can be used to make payments and transfer funds between countries and people. Bitcoin is a digital currency that is produced and transferred using a distributed network of computers.

And this has really made transactions very easy to carry out. There are many companies that have adopted the platform just because it provides easy access for people to make their transactions and even individuals.

 

[Margery]

And this has really made transactions very easy to carry out. There are many companies that have adopted the platform just because it provides easy access for people to make their transactions and even individuals.

Yes, but you should not forget here that if a company makes it possible to conduct operations in bitcoin, then it most likely requires documentary confirmation of the identity of those conducting such transactions. It's kind of like regular banking because of that.

 

[btaliat]

Yes, but you should not forget here that if a company makes it possible to conduct operations in bitcoin, then it most likely requires documentary confirmation of the identity of those conducting such transactions. It's kind of like regular banking because of that.

The only thing that makes seems like a natural banking system is the fact that there exist transactions between senders and buyers. Nothing else again. In fact, there mode if operation has always been different.

 

[Margery]

The only thing that makes seems like a natural banking system is the fact that there exist transactions between senders and buyers. Nothing else again. In fact, there mode if operation has always been different.

The same thing with bitcoin, when transferring money, transactions also occur. They can also be traced, and in the case of a company or bank, the recipient and sender are also known. If we take fiat currency, then when it is sent via SWIFT, the transaction is also irreversible. In essence, SWIFT is a kind of banking blockchain.

 

[btaliat]

The same thing with bitcoin, when transferring money, transactions also occur. They can also be traced, and in the case of a company or bank, the recipient and sender are also known. If we take fiat currency, then when it is sent via SWIFT, the transaction is also irreversible. In essence, SWIFT is a kind of banking blockchain.

Individuals cannot trace Bitcoin transaction easily but it is possible to do that easily if it is fiat transactions. The fact that the two involves money and transactions doesn't make the two similar that much .

 

[Margery]

Individuals cannot trace Bitcoin transaction easily but it is possible to do that easily if it is fiat transactions. The fact that the two involves money and transactions doesn't make the two similar that much .

I talked more about the fact that the principle of work is the same. And yes, why can't individuals track the transaction? They are quite traceable. Go to the blockchain address. com, enter the transaction ID and that's it! You can track it, you can't change it. Both there and there are central nodes for confirming and verifying transactions.

 

[Mayorla]

Bitcoin was the first crypto currency to be created and It is presently the most traded crypto currency presently. It dominates the entire crypto industry presently.
It was first launched in January 2009 By a computer programmer named Satoshi Nakamoto. Though his identity has not been fully verified.

 

[Sammydan]

Thanks for the update and knowledge booster. I am still trying to see the main people behind bitcoin because they have made life easy for people and made it easy to make vast transactions between different worlds. What if there was no crypto currency? Would the World have been more interesting like this?

Well, if there's no cryptocurrency, they would have been another digital currency. The only difference would be the privacy and government regulation. Even some countries are trying to create their own digital currency that will be regulated unlike cryptocurrency that's anonymous in nature.

 

[Margery]

Cryptocurrencies have become more and more popular in recent years, with more and more people using them as a means of payment or investment. While the decentralized nature of cryptocurrencies has many benefits, it also poses a number of challenges and risks that make regulation necessary.

 

[Riberet19]

Cryptocurrencies have become more and more popular in recent years, with more and more people using them as a means of payment or investment. While the decentralized nature of cryptocurrencies has many benefits, it also poses a number of challenges and risks that make regulation necessary.

I think that what became more famous these years ago were for the large price movements, it is true that it still has a long way to become a widely used payment method, but they are on the right track to tell the truth, the regulation has already been launched in several countries.

 

[btaliat]

I talked more about the fact that the principle of work is the same. And yes, why can't individuals track the transaction? They are quite traceable. Go to the blockchain address. com, enter the transaction ID and that's it! You can track it, you can't change it. Both there and there are central nodes for confirming and verifying transactions.

Nice information. I haven't heard this before and I am glad you shared it. I have always have the notion that it is only the government or some agents that have the access to track the transactions that are made on the Blockchain network.

 

[Margery]

Nice information. I haven't heard this before and I am glad you shared it. I have always have the notion that it is only the government or some agents that have the access to track the transactions that are made on the Blockchain network.

You can track it, you can't change it. Also, the government, or rather special units, have the opportunity to identify both the sender and the recipient through centralized cryptocurrency exchanges. I don't know of any other means of identification, but I'm sure there are.

 

[btaliat]

You can track it, you can't change it. Also, the government, or rather special units, have the opportunity to identify both the sender and the recipient through centralized cryptocurrency exchanges. I don't know of any other means of identification, but I'm sure there are.

Then if this is available, the reduction in the cases of Bitcoin theft and hacking should e reduced. But these days, we still hear cases of people complaining that there have been hacked in their cryptocurrency account.

 

[Margery]

Then if this is available, the reduction in the cases of Bitcoin theft and hacking should e reduced. But these days, we still hear cases of people complaining that there have been hacked in their cryptocurrency account.

When we hear about hacking accounts or stealing bitcoins from a private person, then at least the owners of this asset are to blame for the most part.
Government services will not investigate such cases, although because there are probably few assets there, and the cryptocurrency is in a semi-legal position.
So far, there is no separate service for combating crypto-intruders, there are only small departments in the financial sector, and even those deal only with a large amount of stolen funds.

 

[Emmanuel24]

Bitcoin was created 14 years ago by unknown person but named after Satoshi Nakamoto. This digital currency has decentralized nature which enables to transact without being influence by centralized authority. It is volatile in nature because the price has risen from the starting to a certain dollar now.

 

[btaliat]

Though the origin of Bitcoin was dated back as far as 14 years, it started gaining momentum 9 years ago when the first pump of Bitcoin surprised the world. That was when people started taking it serious until 2020 when it took the world by surprise again

 

[Margery]

The miner does not care where and how the electricity is obtained, which comes to him from the outlet. He pays for it. If electricity is expensive, then the miner will simply stop mining cryptocurrency and sell his installation. No one will work at a loss.

 

[btaliat]

The man was that was attributed to the the maker of Bitcoin didn't only want to change the world with his innovation, it aimed at helping the masses to decentralize their finances unlike the traditional fiat currency.

 

[Margery]

Whether or not there is a person in reality is not known to us for certain, because in most cases we are provided with only that part of the information that is possible. We don't always know everything. Only with time, and even then not always, we can find out the real purpose of things.

 

[btaliat]

Whether or not there is a person in reality is not known to us for certain, because in most cases we are provided with only that part of the information that is possible. We don't always know everything. Only with time, and even then not always, we can find out the real purpose of things.

Exactly. Since no one knows the exact story and the person himself didn't write the story himself, we are tend to believe whatever that we see online. But I always sure that there will be the truth behind the story of Bitcoin.