Bitcoin
It is basically digital
asset designed to work as a medium of exchange that uses cryptography to control its creation
and management, rather than relying on central authority.
Bitcoin
can be converted to any
currency
1 bitcoin
=290361 INR (coinmill.com)
Websites
sell bitcoin
LocalBitcoins.com (Finland)
Coinbase (USA)
BitBargain (uk)
Unocoin (India)
BitMEX,BITFINEX,eToro,magnr,
Bit coin actually is
digital currency it does not have any physical existence but yet it can be used
for payment and other financial purposes. Yes up to some extent you can say
that it is equal to real money since you can exchange the bit coin with real money
while trading at all. But it it is better to called it digital gold or digital
coins
Invention it was invented by unknown programmer under
the name of satoshi
nakamoto.
Transaction made between user directly
and are verified by network nodes and are recorded in a network ledger called
block chain.
According to research produced by
Cambridge university in 2017 there are 2.9-5.8 million unique user using crypto
currency wallet , the most of them using bit coin
In 2016 the complete ledger is about
107Gbs of data.
Japan is the largest bitcoin market in the world.japan
passes a law which makes bitcoin legal payment method. Russia also discussing
to make it legal payment.
User can earn money by bitcoin
If user willing to devote cpu power to running a special piece of sotware
would be called as miners and would form a network to maintain the block chain
collectively. In this process they will generate new currency.
Quotes on
bitcoin
Eric Schmidt, ceo google
‘bitcoin is a
remarkable cryptography achievement and the ability to create something that is
not duplicate in the digital world has enormous value’
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