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Thread: Knowledge about Bitcoin - the original of crypto.

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    Knowledge about Bitcoin - the original of crypto.

    What Is Bitcoin?
    Bitcoin is a decentralized, peer-to-peer cryptocurrency system designed to allow online users to process transactions through digital units of exchange called bitcoins (BTC). Started in 2009 by a mysterious entity named Satoshi Nakamoto, the Bitcoin network has come to dominate and even define the cryptocurrency space, spawning a legion of altcoin followers and representing for many users an alternative to government flat currencies like the U.S. dollar or the euro or pure commodity currencies like gold or silver coins.1

    Why the need for bitcoin in the first place, if there are already so many traditional means of making payments? A key element of bitcoin is its decentralized status, meaning that it is not controlled or regulated by any central authority. This immediately distinguishes it from fiat currencies. Bitcoin payments are processed through a private network of computers linked through a shared ledger. Each transaction is simultaneously recorded in a "blockchain" on each computer that updates and informs all accounts. The blockchain serves as a distributed ledger and obviates the need for any central authority to maintain such records.

  2. The Following User Says Thank You to stanleyik10 For This Useful Post:

    Wekesa (08-07-2020)

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    This pretty much sums up the basic information that people must know about Bitcoin. This is going to be helpful for beginners.

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    And the day its started am so afraid that I never took the innitiative to earn from it is a time I love to forget so very important for me to realize what happened that is what I remember I saw it , its important then am able to keep everything working well for me, am praying there comes another investment opportunity like bitcoin , thats the case

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