Now, for the benefit of Facebook or YouTube, all of us have ever heard the term Bitakayya. But we do not know enough about Bitcoin. What is Bitcoin? How does it work? What are the uses? Let's know the answer to these questions.
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★What is Bitcoin?
Bitcoin is a kind of cryptococoncy. And cryptocarrency is such a digital currency system that has no physical or real form. Bitcoin is the world's most popular cryptococarcan.
★This is how the Bitcoin
On August 18, 2008 On this day in the Internet world, the domain of a website named 'bitcoin.com' is registered. In November of this year, a person or a group of 'Satoshi Naakamoto' pseudonym, 'Bitcoin: A Peer-to-Peer Electronic Cash System' published a research paper online. This is the first time in this paper that Bitcoin is given the idea.
Source : coindesk.com
In January 2009 Satoshi Naakamoto released software code for making Bitcoin online. Bitcoin 'Mining' software is made. Bitcoin mining is a process through which Bitcoin is made. Saturn made the world's first Bitcoin in January 2009.
★How Bitcoin Works
You will not be able to deal with Bitcoin like a common currency. No bank or organization controls it. Because of the peer-to-peer system, Bitcoin goes directly from the sender's 'wallet'. The wallet is like your wallet, where you have your own bitcoin stored. Wallets are either online or offline. The online wallet user can use it through his smartphone or computer.
Each wallet has a specific address or address. It is impossible to remember that the address is completely encrypted. The user is using this address for the Bitcoin transaction.
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★Bitcoin Mining is done in the way
Bitcoin mining is a complex process. Is done through a specific mining software. Because of this, high-powered computers are needed. This process is accomplished through complex mathematical algorithms using computer CPUs and GPUs.
Every bitcane transaction is recorded in blockchain. At this time, Bitcoin Miners evaluated the validity of each transaction through mining software. At the same time a new Bitcoin is made.
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This process of making Bitcoin transactions and new Bitcoin is very secure. As a result, there is no possibility of deceit or cheating. Both parties have identical secrets.
★Some unique features of Bitcoin
♦Bitcoin is a fully decentralized currency system. The government or any authority does not control it. As a result of peer-to-peer arrangements, each user is the real owner of their Bitcoin. Someone else can not take ownership of their Bitcoin network.
♦Bitcoin is the entire process of transaction, without a name. A Bitcoin user can open multiple Bitcoin accounts. Opening these accounts does not require any personal information, such as a username, address, etc. As a result, the real identity of the user is hidden.
♦Bitcoin transactions are completed very transparently. The records of each transaction are stored in Blockquenne, which is when anyone can see from any part of the world. As a result, there is no scope for corruption.
♦Bitcoin Account is very easy to open. In this case, there is no need to fill any trouble form like opening a normal bank account. No extra fees are required. No papers should be submitted.
♦Bitcoin transactions are very fast. Whatever bittacquena sent from the end of the world, it will reach the recipient within a few minutes.
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★Some difficulties of Bitcoin
♦Bitcoin is completely off the shelf. That is, if someone sends Bitcoin wrongly to any wrong address, it is not possible to get it back.
♦The Bitcoin transaction does not control any organization. The identity of both sender-recipient is completely hidden. As a result, it is possible to use bitcoin in many criminal activities. Bitcoin is also used for the purchase of illegal products. All transactions in the dark web of the dark web are by Bitcoin
♦Bitcoin prices are very unstable. Sometimes a huge amount of ever increases, sometimes a huge crash.
★Bitcoin prices in present world and its status in Bangladesh
Since Bitcoin first launched, the price has increased day by day. In 2011, Bitcoin's market value was first raised from $ 0.30 to $ 32. Then in 2013 the price rose to $ 266. Bitcoin prices continued to grow gradually. At the end of 2016, the price comes to over $ 600. Then in 2010 the Bitcoin prices increased the record. Bitcoin rises upwards of $ 9,000 in November this year, increasing by almost a thousand per month. And this December, the price has risen to more than $ 15,000 which is a truly unprecedented event.
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Bitcoin is very popular in many countries around the world. More than thirty thousand people in the world, like WordPress, Microsoft, Wikipedia, Overstock, accept Bitcoin. The day-to-day popularity of the day is increasing. Microsoft founder Bill Gates commented on Bitcoin, "Bitcoin is better than currency".
Now let's see how Bitcoin is in Bangladesh. Bangladesh is included in the Bitcoin Foundation as the first country in Asia, on 15 August 2014. But a month after the Bitcoin joining the Foundation, the ban was issued on all transactions in Bitcoin. Bangladesh Bank, in a press release, urges people to refrain from all types of transactions of Bitcoin. That means that Bitcoin transactions are declared completely illegal. So far this ban on Bitcoin remains in Bangladesh.