Topic: Bitcoin, What it is and what it does? (Read 328 times)
Bitcoin is a digital currency with volatile prices. This is the basic concept of bitcoin. There are many article on bitcoin over internet. You can gp through any of them and learn in details.
*What Bitcoin is: Bitcoin is a virtual cash stored online and compeletely intangible. It is decentralized; no single institution controls the Bitcoin network, monitors or settles transactions, or holds Bitcoins belonging to other people. Unlike fiat money, since Bitcoin is not physically printed under strict control of a Central Bank, its value cannot be manipulated by financial authorities.
* What it does:
You can use Bitcoin to buy things online where Bitcoin is accepted. It promises to make big change to the way of paying.
Many people invest in Bitcoin nowadays with the view to earning profit instead of trading it digitally.
* What it does:
You can use Bitcoin to buy things online where Bitcoin is accepted. It promises to make big change to the way of paying.
Many people invest in Bitcoin nowadays with the view to earning profit instead of trading it digitally.
Bitcoin is a digital currency. It is decentralized. No single institution controls the bitcoin network. Bitcoin uses Peer-to-peer technology to operate with no central authority or banks. Bitcoin are completely virtual coins designed to be self-contained for their value, with no need for banks to move and store the money. Once you own bitcoins, they behave like physical gold coins. They possess value and trade just as if they were nuggets of gold in your pocket. Bitcoin are traded from one personal wallet to another. You can use it to purchase goods and services online, or you can tuck them away and hope that their value increases over the years.
To make the problem understood, I'll compare Bitcoin with paper money. There are 3 major points differentiating Bitcoin from government-backed money:
- First, units are held by individuals owners and usually transferred directly peer-to-peer without requiring the services of a middle man.
-Secondly, ownership over Bitcoins and records of transfers are completely anonymous. Despite this element of concealment, the software itself remains completely transparent as the details of every single transaction are stored as code in the network in an
enormous virtual version of a general ledger known as the Blockchain.
- Finally, Bitcoin transactions are completely non-repudiable, meaning that once sent, it can't be reversed.
Good luck!
- First, units are held by individuals owners and usually transferred directly peer-to-peer without requiring the services of a middle man.
-Secondly, ownership over Bitcoins and records of transfers are completely anonymous. Despite this element of concealment, the software itself remains completely transparent as the details of every single transaction are stored as code in the network in an
enormous virtual version of a general ledger known as the Blockchain.
- Finally, Bitcoin transactions are completely non-repudiable, meaning that once sent, it can't be reversed.
Good luck!
I'll give you a clearer idea about Bitcoin.
- Bitcoin is a virtual currency created in 2009 by an unknown person whose alias is Satoshi Nakamoto.
It can be used to buy goods and services wherever accepts it. Much of the hype is about getting rich by trading it, though.
- It operates in an decentralized system, which means it requires no third parties to make transactions, unlike physical currency. The underlying technology is Blockchain which promises to bring the world to a new era.
- To many people Bitcoin now is considered a medium of exchange and an investment. Few government has laid legal grounds for it. Bitcoin therefore
- Bitcoin is a virtual currency created in 2009 by an unknown person whose alias is Satoshi Nakamoto.
It can be used to buy goods and services wherever accepts it. Much of the hype is about getting rich by trading it, though.
- It operates in an decentralized system, which means it requires no third parties to make transactions, unlike physical currency. The underlying technology is Blockchain which promises to bring the world to a new era.
- To many people Bitcoin now is considered a medium of exchange and an investment. Few government has laid legal grounds for it. Bitcoin therefore
Bitcoin (codenamed: BTC, XBT, BitcoinSign.svg) is a codeword, invented by Satoshi Nakamoto in open source software since 2009. Bitcoin can be exchanged directly with a connected device. Internet without the need of a financial intermediary.
Bitcoin offers great advantages over other currencies: Bitcoin can not be tampered with, highly secure and very safe, extremely low transaction costs, environmental protection, potential e-commerce development.
Bitcoin offers great advantages over other currencies: Bitcoin can not be tampered with, highly secure and very safe, extremely low transaction costs, environmental protection, potential e-commerce development.
The Bitcoin system was developed by an anonymous programmer or a group of people who set themselves the goal of creating a fundamentally new system of financial settlements that would not depend on either a single bank or a single state. All operations in this system had to be instant, irrevocable and absolutely transparent, so that all users could easily track any transaction. Thus, Bitcoin was designed to solve the problem of lack of trust between the unfamiliar seller and the buyer.
Bitcoin is a digital currency created in 2009 by a mysterious figure using the alias Satoshi Nakamoto. It can be used to buy or sell items online. Some things set bitcoin apart from fiat money.
• Bitcoin only exists online.
• Bitcoin has no regulatory authority – it is not controlled by any bank or any country.
Here’s what you can do with Bitcoin:
You can sell it - if you signed up for an account with Coinbase or My Wallet, both services allow you to sell your Bitcoin.
You can HODL - if you're simply looking to make some money you can attempt to buy them low and sell them high.
You can purchase online – the basic purpose of Bitcoin is to provide secure transactions
• Bitcoin only exists online.
• Bitcoin has no regulatory authority – it is not controlled by any bank or any country.
Here’s what you can do with Bitcoin:
You can sell it - if you signed up for an account with Coinbase or My Wallet, both services allow you to sell your Bitcoin.
You can HODL - if you're simply looking to make some money you can attempt to buy them low and sell them high.
You can purchase online – the basic purpose of Bitcoin is to provide secure transactions
Bitcoin (BTC or XBT) is a currency of the internet, a decentralized digital currency, encrypted and released in 2009. Bitcoin is exchanged live on the internet without the use of a financial institution. any intermediary. The way Bitcoin works differs completely from the normal currency, there are not any individuals or organizations that handle bitcoin transactions.
Bitcoin currency is widely used in e-commerce, is the first and most typical coding currency. The cost of payment, transaction bitcoin is much cheaper than other types of money so it is preferred by companies and businesses. As of June 2016, Bitcoin's base amount was valued at about $ 12 billion, making it the largest currency ever.
Bitcoin currency is widely used in e-commerce, is the first and most typical coding currency. The cost of payment, transaction bitcoin is much cheaper than other types of money so it is preferred by companies and businesses. As of June 2016, Bitcoin's base amount was valued at about $ 12 billion, making it the largest currency ever.
Bitcoin is the revolutionary technology of money. There is no central government controlling Bitcoin. This means Bitcoin can never be controlled and going bankrupt if there are people who use Bitcoin.
What amazed people about Bitcoin is that even if Bitcoin is digital currency it never stopped so far. Current problem is hacking to exchanges.
What amazed people about Bitcoin is that even if Bitcoin is digital currency it never stopped so far. Current problem is hacking to exchanges.
It is basically a electronic currency and it doesn't have any value outside the online world so you can't convert it in to real money that's why the holder can only use it on online trading, for keeping those bitcoin there is also a wallet where you can save your bitcoin
Bitcoin is the most popular and mostly accepted digital currency in recent time. Previously it was used for paymnt option. But from last few years, its value make people to consider this one as investment opportunity. And then so many people are investing here to make profit.
Welcome to the forum. Worth checking out this link, an ever increasing thread of knowledge for someone who genuinely wants to learn.
https://bitcointalksearch.org/topic/a-simple-bitcoin-qa-learn-new-and-interesting-stuff-about-bitcoin-2968050
Plenty more out there too.
https://bitcointalksearch.org/topic/a-simple-bitcoin-qa-learn-new-and-interesting-stuff-about-bitcoin-2968050
Plenty more out there too.
Bitcoins is a currency use online to make payment amount peers. It is not a legal tender but the capacity it contains is much like most national currencies. Apart from serving as mode of payment, you can benefit from its price increase and make profit on your invested amount, but beware it is also risky .
Bitcoin is an intangible currency with no fixed price. The price fluctuates a lot but the digits it remain are always a safe amount resulting in an almost a zero loss for the investors. Try goggling about bitcoins or watch video tutorials to help get a good concept in bitcoins.
Bitcoin is the 1st discovered cryptocurrency and it still ranks 1st among all other cryptocurrencies in the market. It was discovered by Satoshi who has anonymously hidden his identity. It runs on a completely decentralized system and you can use it for investments and payments.
Bitcoin is a decentralized digital currency. Now-a-days it is the most popular currency in the whole world. As it is a decentralized system so it works user to user peer to peer. People can transfer this Bitcoin one part to another of the world. It can be transferred by the blockchain technology. As it works peer to peer so no one can hack this Bitcoin wallet at all but if anyone gives their blockchain id and password to any unknown person then it will be hacked. So, be careful and don't give your id or password to any person to save.
BTC is a crypto currency developed by satoshi in 2009 based on this btc is the first crypto currency in the world and with this you can trade whatever you wants also you can do limitless trading where is no boundaries of countries based on this it provide good profit to their customers.
Bitcoin is a digital coin. It is a profitable site that’s why peoples are investing on this coin and earn lots of profit. i know many poor people who invest on this site and now they are well establish. In near future it will more popular.
bitcoin is the first high value digital currency used without third parties. Bitcoin is able to advance the currency further into the future and can help many people to meet the needs of life
Is like any form of online payments system like skrill ,okpay and perfect money which allows you to send money from one person to another through his address. Just get a wallet and try sending a few dollars to friend or family that has a wallet.
The explanation is really simple and easy to understand, however, it can not express the important effects of bitcoin and its technological characteristics. The most important thing is transparency in transactions but still anonymous.
Is like any form of online payments system like skrill ,okpay and perfect money which allows you to send money from one person to another through his address. Just get a wallet and try sending a few dollars to friend or family that has a wallet.
bitcoin is the world's first digital cryptocurrency and high value. attracted many people with easy transaction
bitcoin is a cryptocurrency based on an encryption technology. It is a chain of blocks that could be said to be a better world currency than the dollar or the euro. Even gold is unsettled. It does not depend on any government or global financial institution for its blockchain technology. has many uses could be said that it is the real money you can use to buy anything in the world without depending on a bank that controls your money you can move it to any country in the world the amount you want you have a portfolio where you can save and use them when you want you can use it to invest in other cryptocurrencies and earn more bitcoin or tokens is used more than anything as a reserve of value is exchangeable digital money in any part of the miuindo for money fiat or metal
You are welcome in this forum. I am suggesting you some video links I hope it will help you to get moe knowledge about BTC https://www.youtube.com/watch?v=YHjYt6Jm5j8 and https://www.youtube.com/watch?v=l9jOJk30eQs . This will help you a lot. Moreover BTC is a the very first decentralized digital currency and it is also compared with asset.
It is the fastest, cheapest, and most secure way to send money around the world.
Because it is an unchangeable open source algorithm it can be trusted. It is not under the control of any bank, government, or individual. Nobody can make you use it or keep you from using it.
The best place to start is to read the "white paper". You will find a link to it below in my sig.
Because it is an unchangeable open source algorithm it can be trusted. It is not under the control of any bank, government, or individual. Nobody can make you use it or keep you from using it.
The best place to start is to read the "white paper". You will find a link to it below in my sig.
The bitcoin is a electronic money which is one of the crypto currency with decentralized and volatile nature only making peer to peer transactions with no third party interruption.
Bitcoin is the first crypto currency having the feature of volatility. The price fluctuates and that's why you manage to make money.This is generally used for long term investment. A lot of people is making money out of it.
Bitcoin is basically a decentralized currency or e-currency which can be used anywhere without converting the currency. Besides, the transactions is done to peer to peer. There is no third party interruption.
I think there is video to explain what is bitcoin you can check this video https://www.youtube.com/watch?v=Um63OQz3bjo
and this video for bitcoin explained https://www.youtube.com/watch?v=YHjYt6Jm5j8
and this is another video how bitcoin works https://www.youtube.com/watch?v=l9jOJk30eQs
You don't need deep knowledge about bitcoin unless if you are planning to develop it and bitcoin is just like a money online if you know how paypal works it is the same but the differences bitcoin is decentralized and you own a wallet or we can call a bank where you can save your money and no one can control your funds unlike paypal or other similar service.
and this video for bitcoin explained https://www.youtube.com/watch?v=YHjYt6Jm5j8
and this is another video how bitcoin works https://www.youtube.com/watch?v=l9jOJk30eQs
You don't need deep knowledge about bitcoin unless if you are planning to develop it and bitcoin is just like a money online if you know how paypal works it is the same but the differences bitcoin is decentralized and you own a wallet or we can call a bank where you can save your money and no one can control your funds unlike paypal or other similar service.
bitcoin is a new currency or arguably bitcoin is a bitcoin electronic money unlike most currencies because bitcoin does not rely on trusting the major publishers of bitcoin using distributed databases and spreading to nodes from P2P networks to transaction journals and using cryptography to provide basic security functions such as to ensuring that bitcoin can only be spent by people who have it and never been allowed more than once.
So hi, I'm relatively new here in this forum and even though I have some knowledge with regards to bitcoin, its only on the surface so I wanted to ask you guys some questions that can be understood by a beginner like me. So my questions would be in the scope of what is bitcoin? I know it is the largest form of cryptocurrency as of now but I still don't get it that much. Researching bitcoin through the net have given me answers but as a layman who initially knew nothing about it, I wanted to get more clarifications. So again questions would be:
What is bitcoin
What is it used for
How is it used
I may have additional questions for later but this would do for now.
No flame against me because I know i lack knowledge and thats why i am here asking you guys because i want to learn about it.
Thanks
What is bitcoin
What is it used for
How is it used
I may have additional questions for later but this would do for now.
No flame against me because I know i lack knowledge and thats why i am here asking you guys because i want to learn about it.
Thanks
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