What is Bitcoin?

bitcoin-drin(43)

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Bitcoin? Hmmm...

For me, bitcoin is a type of a digital payment system which holds no one and couldn't be controlled by any banks. There is no discrimination using it, and why? Bitcoin doesn't care who you are, where you from/born or the color of your skin is. It is open network and it's maintained equally.
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Bitcoin has a highest inflation rate and it is top one on the cryptocurrency market. 21,000,000 BTC Max supply and 16,668,425 Bitcoins (BTC) already mined circulating supply, the remaining was already mined by the miners. The date of Introduction was last 3 January 2009; 8 years ago. Founder is the unknown programer named Satoshi Nakamoto.
Once you've transact bitcoin, it will place on the blockchain which all bitcoin transactions are recorded.
Earlier this day update, bitcoin dominance index surpasses 61% for the first time since the past nine months,

Is it a scam? Why is it use for some illegal activities?

I have no guarantee, even fiat currency or cash can be use in transacting an illegal goods. It's all about the people who will handling it, if he or she will employ it in wicked or good way, its up to them, everything in this world has a border, there is no immortal here. Okay, back to bitcoin, it can be shutdown/scam? For me, if the internet was present and the transaction was there, bitcoin will exist.

If you think people like Bill Gates, John McAfee, Chamath Palihapitiya, Warren Buffett, Amazon and Home Depot are scammers then you’ll have to decide for yourself.
Since it is a payment system, I’m sure there are some ponzi scams out there, specially in some investment platforms so always buyer beware. Do your own diligent research before take an actions.
As I've read some articles in the internet, famous billionaires like Richard Branson, Lawrence Summers, Ben Bernanke and PayPal Founder Peter Thiel are putting their money into bitcoin.

5 big companies that currently accept bitcoin, Overstock.com, DISH Network, Microsoft, Intuit, and PayPal. Also, like Apple, Target, Victoria’s Secret, Whole Foods, Home Depot…CVS, Sears and Amazon actually accept bitcoin as payment just as they would Visa, PayPal, or MasterCard.

It’s become more mainstream but to most people lying on the bed and contented on whats going on in there life, they don't take any research from it.

For me, I'm am very confused whats happening in this world, money is part of a human history, if I'm not mistaken, it has a 3,000 years from the origins of bartering. Way back there;

9000BC - Early man would barter good, rice or cow are the popular goods to barter. It was first accomplished in Egypt.

1100BC - People started using tiny replicas of goods cast from bronze in China. Coastal regions saw the use of cowrie shells in trade as early as 1200BC.

600BC - The first 'Official' currency was minted by King Alyattes of Lydia in modern day Turkey. A standardised coinage allowed to trade flourish across the Mediterranean world.

1250AD - The Florin, a gold coin minted in Florence, was widely accepted across Europe, encouraging international commerce.

1290AD - The travels of Marco Polo to China introduced the idea of paper money to Europeans. Paper money was great for business because it could be mass produced without relyting onn raw metals like gold and silver. However,

1661AD - It didn't catch on for quite some time with the first bank notes being printed in Sweden.

1860AD - Industry giants, Western Union, spearheaded e-money with electronic fund transfer via telegram.

1946AD - John Biggins invented the "Charg-It" card, the first credit card.

1999AD - European banks began offering mobile banking with primitive smart phone. The Euro began to circulate in 20002.

2008AD - Contactless payment cards were issued in the UK for the first time.

2014AD - With a constant demand for ways to insure business can trade easily, new innovations are constantly being introduced and refined.

History come full circle with Bartercard offering a platform for business to barter surplus goods and services worldwide.

Barclaycard trialled 'wearable' contactless wristbands.

Apple pay was announce for iPhone users to enable them to pay for things with their handsets.