What is bitcoin?
It is an electronically encrypted currency that is dealt with outside a central authority. Bitcoin originated in 2009 by an unknown person who called himself (Satoshi Nakamoto) and the currency was offered to be used for payment, but without government oversight, unlike official currencies.
Bitcoin price evolution
In 2010, the price of bitcoin was 0.003 cents per bitcoin until it developed and reached in October 2017 to 4,200 US dollars, until it reached today, September 18, to 47,327.40 dollars I imagined the extent of the development and instability of this currency, how in about three years it reaches from 4,200 dollars to 47,327.40 dollars!
How does bitcoin work?
Bitcoin needs two basic mechanisms to operate: the blockchain and the mining process. String data is a shared digital record of all Bitcoin transactions executed up to this point. These transactions are grouped together in "clusters", which are secured by cryptography during mining operations, and are linked to each other. Serial data can be accessed by anyone at any time, and it can only be changed at the will and computing power of the vast majority of the network, meaning that retroactive modification is almost impossible, meaning you won't fall victim to human error and no One point of failure and the matter is very complicated, it is difficult to understand easily unless you have experience in the field of data and so on
There are a number of companies that already accept bitcoin as a form of payment
although they are still numbered on tiptoe. It includes:
- Starbucks
- Tesla Visa
- PayPal
- Coca Cola
- Expedia
- Whole Foods
- Home Depot
- Rakuten
- Twitch
- Wikipedia
- Burger King
- Kentucky
- Subway
- Pizza Hut
How many bitcoins in the world
There are currently 18,749,318.75 bitcoins in existence, and the number changes approximately every 10 minutes as new blocks are mined.
Tags:
economic