What is Bitcoin?
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto, who published the invention in 2008 Bitcoin. The system is peer-to-peer and transactions take place between users directly, without an intermediary.
Bitcoin is a decentralized cryptocurrency, offers decentralized financial transaction without any assistance from a third party. Due to complex nature of today's Trading, we use third parties like banks, governments, notaries and so on, to facilitate our monetary affairs. These third parties require additional matters like authorizations, approvals and permissions to process money transactions and is functioned as a centralized structure to regulate all financial dealings. Bitcoin breaks middlemen role of third parties and provides us with a convenient channel for the peer-peer transaction.
- In the beginning the Value of 1 Bitcoin was 1$.
- Today, in 2016 the Value of 1 Bitcoin is 600$ and increasing.
- As Predicted in 2019 the value of Bitcoin will go upto a mind-blowing 15000 $ per Bitcoin.
Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.
- Bitcoins cannot be printed or physically made. They must be generated through computerized methods.
- Bitcoins are not regulated by any government or banking institution.
- Transactions allow for anonymity and are almost instantaneous.
- Bitcoins are borderless currency and can be used anywhere.
EASY TO USE
Bitcoin offers a peer-peer network, which allows its users to send bitcoin from any device to anyone, anywhere in the world without any restriction, at any time.
Every bitcoin transactions are verified and shielded by top-notch encryption. The cypher codes used in these secure transactions are industry standard AES encryption.
One of the most significant of all features of bitcoin is its decentralized system and open-source nature.
Unlike conventional financial service, bitcoin network offers fare-free money transaction throughout the globe, besides a voluntary fee to speed up the transfer.
Bitcoin Currency Data
Potential of Bitcoin
We believe Bitcoin has the potential to be not just a digital currency, but the future of money. While it is still in the early stages, we see Bitcoin as a protocol or platform on which financial and non-financial transactions can be conducted and verified as part of a global public ledger. Bitcoin lies at the intersection of several important academic research areas, including cryptography, distributed computing, graph theory, finance, and economics.