Refueled Tech

What is Bitcoin....?

What is Bitcoin....?

Bitcoin

First example of cryptocurrency is Bitcoin.

Bitcoins are created through a process known as Mining, essentially trading computing power for currency value. Bitcoin is secured through public key cryptography, using Elliptic Curve Digital Signature Algorithm(ECDSA).

Current block reward is 25 { Twenty Five } coins per 10 minutes, It will half approximately every 4 { Four } years.

We will reach 21 coins by approximately 2140 Bitcoin is increasingly divisible in measurement.

Infograph of  Bitcoin

Bitcoins created in 2009 by a software developer called Satoshi Nakamoto.

Bitcoin is a form of Digital Currency.

• No one control it.
• Not printed by anyone.

Digital currency.

• Unit : BTC ( 1 BTC = 110 USD ) 
• Buy or sell Goods.

Differences

• Decentralized and Distributed.
• Low Fee and Fast Transactions.
• Anonymous : Address <=> Address Transaction.
• Value Increase only (21,000,000 Bitcoin)

How do you get & use Bitcoin

• Bitcoin exchanges to buy and sell Bitcoins.
• Bitcoin wallets to use Bitcoin to receive or send Bitcoin.

Value of Bitcoin....?

Bitcoin are like Diamond or Gold - No intrinsic value.

As more people want to buy Bitcoins, seller will change more.

It's a free market and as wild as you imagine.

No Rules, Regulation and Insights.

Speculator who thinks Bitcoin will successful, buy as many as they can and hold them price appreciation.

If 21 Million Bitcoins are in circulation and current price is $500, then total market value is ~$ 10 Billion.

21,000,000 Bit Coins

" More Bitcoin, More Money "

Vivaan Shrivastav