hello steemians do not know what the bitcoin is, how it works or if it is a good investment pay attention to the following:
Bitcoin is a virtual currency that was born in 2009 It is beyond the control of any government or institution Its value is variable and is based on the law of supply and demand Exchange occurs between users via P2P
So, what is Bitcoin?
Bitcoin is a virtual and intangible currency. That is, you can not touch any of its forms as with coins or bills, but can be used as a means of payment in the same way as these.
As happens with the money we have in our bank Bitcoin increase or decrease from our personal account as we make income or expenses, the only difference is that there is no possibility of monetizing them, as when, for example, we withdraw money from a ATM.
What are the peculiarities that make Bitcoin different?
Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual means of payment like Ama zon Coins, is decentralization. Or what is the same, Bitcoin is beyond the control of any government, institution or financial entity, whether state or private, such as the euro, controlled by the European Central Bank or the Dollar by the Federal Reserve. USA.
In Bitcoin the control is carried out, indirectly through their transactions, by the users themselves through the P2 P exchanges (Peer to Peer or Point to Point). This P2P structure and the lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing more quantity.
In fact, its production and value is based on the law of supply and demand. Another interesting detail is that Bitcoin has a fixed limit of 21 million coins, which will be reached in 2030.
How much is a Bitcoin worth?
As we have indicated, the Bitcoin value is based on supply and demand, and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time.
Currently the price of Bitcoin is located,3.620.578$
How do they work?
To operate with Bitcoin you just have to download some of the available applications, there are multiple alternatives for any operating system, either desktop or mobile as iOS or Android (MultiBit or Bitcoin Wallet, are just some options).
With them you can create your Bitcoin wallet which, simplifying, consists of a private key associated with a public key with which to perform operations. Thanks to them, Bitcoin can not be faked and it is guaranteed that user-to-user transactions are performed securely.
How to get Bitcoin?
There are three ways to get or buy Bitcoins. The first, and most simple, is accessing some of the Bitcoin markets such as MtGox or Bitcoin.com, which allow exchange conventional money, euros or dollars, for Bitcoin.
Another way is the exchange of goods with other users, that is, the purchase / sale of all life but paying with Bitcoins. The last, and strangest, is "mining." This practice consists of using part of the resources of our computer in the resolution of extremely complex mathematical problems in exchange for Bitcoins.
Currently about 25,000 people perform this task and generate about 25 Bitcoins every 10 minutes, so this practice to get virtual currency is increasingly more complicated, unless you belong to any of the colonies of miners who circulate on the network.
The legality of Bitcoin is simple to summarize "Bitcoin is legal in that place that accept it as a means of payment in a transaction", as easy and simple. Being out of control of any institution there is a legal va
In addition, when dealing with anonymous and encrypted transactions between two users, they are free of any commission or tax such as, for example, VAT.
What is that dark side of Bitcoin?
Decentralization and anonymity have made Bitcoin the preferred means of payment for fraudulent transactions such as the sale of drugs or money laundering. It is also the "official" means of payment for low Internet funds.
This has made government institutions such as the US Economic Crime Brigade (FinCEN) have stopped doing "blind eye" and want to implement regulatory measures for operations with Bitcoins.
Well this is all dear steemians give the power up and follow me
