Hello guys i will tell you today about the world's biggest make of the cryptocurrency money about the bitcoins. First of all to know what is cryptocurrency and where it came from? Let's begin to learn this...
we all know that necessity is the mother of invention. The barter system was the first to run in the world for the transactions. Which was very good at beginning but over the time people had to face a lot of problems such as -
1.Double coincidence of vendor
2.Absense of common measure of value
3.Lack of deviation
4.Problem of storage of wealth
5.Difficulty in different payment
6.Proble of transportation
disturbed by all this people started thinking differently. At that time people also knew that gold and silver are also a precious things so people started trading by making money of Gold and Silver. This method was very good because it had overcome all shortcomings of the people which they had to face in barter system. And it continued like this for about 500 years. People used Gold and Silver in business and along with time some new problems are started to appear. Because it was a matter of kepping more gold and walking aroud it because of its weight and afraid of being thief.
Therefore some kings and broker tried to find a solution by looking of business opportunities. They told the people to keep their gold with us, so that we will guard them on his own responsibility and just for these you give us some interest. Everyone liked the idea very much and people started to keep gold with them. Instead the king gave them an iou (interest on utility) that was nothing but a peace of paper.It would have been said that i have kept your gold like this and you can also say the receipt for the Gold by showing it, they can take his Gold at any time.Similarly, a new Gold bucket currency was born.But for some time later kings had some strange experiences that after the system no one came back to get their gold back and all of them started doing a business from that receipt.Because every one sure if there is a receipt then the Golds also be.
After knowing this, the hearts of kings started to greed because the hand made receipt was made money. So they started to made more duplicate receipt they did not even have gold but still made duplicate receipt. He used to earn interest by giving receipt to other poor people. And in the same way started to looted a lot of money without doing anything. And like this started world's biggest theft and that kings who holds the gold handle is toaday's bank and goverment.And that receipt was the first currency of the world.
In today's we are living in such a big financial crisis globally and biggest reason for this is that we do not know the difference between the currency and the money. Many people think that currency and money is same tht's not what it is like.
Currency is the madium of exchange by which you can walk everywhere. Which does not get spoiled easily.Which can be broken into small pieces too means which can be changes in small cent and it's all the same. The beans are all the same as i am in my pocket. Crypto currency originated in 2008 which was largest reformation of thr world economic and its name was Bitcoin. And in the bitcoin money and gold was save in the digital form of all properties.Such as bitcoin is portable, purable, fungible, divisible, universally accepted and also limited supply uncontrolled by government. And along with this, such properties were given in bitcoin which used to remove the problems of Gold. As digital currency were most secure, easy to transport and can not be fake or duplicate.
Bitcoin launched 0.0046666667$ in 2009 and its rate is changed per day on the basis of demand supply. Bitcoin is formed by generating code through open source algorithm and there are 10M codes in 1 bitcoin. This means the day 1 Bitcoin is equal to 100M even then you can make transportation in 1Cent of them and it is very much generated by resolving the complex algorithm and it requires super computer, high hashrate miner,100 gbps of internet etc. to solve it. Because electronic codes are of uniq and fix lan due to which it can be generated in a limited number. Just like 2.1M bitcoin may generated in the whole world and this generation will take about 132 years. Simultaneously, the gereration of their speed gets half after every year. As early as in 10 minutes , about 50 bitcoins were generate in the beginning which is approximately 25 bitcoins per 10 minutes after 4 years. And in today's time 12.5 coins per 10 minutes. Bitcoin can be save any electronic device suc as mobile,laptop,tablet,harddrive etc. It also works on high technology. Thats why Bitcoins spread all over the world today due to all this special isuues.
