May 13th, 2013 Posted in Tutorials 502 views


What is Bitcoin ?

Definition of “Bitcoin”:

A decentralized digital currency that enables low payments without the need of central authorities and issuers. Bitcoin is a currency type system P2P (Partner to Partner) created an open-source programming C + +. Bit-coins can be accessed from anywhere in the world with an internet connection. Once the user has a bit more coins, they are stored in a digital wallet. Bit-coins can then be sent to anyone who has a Bitcoin address. Bit-coins were developed in 2009 based on the work of an individual or group of individuals known as Satoshi Nakama (Satoshi Nakamoto).

Investopedia explains’ bit-coins “as follows:
Bitcoin transactions occur quickly online, without the intervention of central authorities. The value of the bit-coins varies against other currencies and convert them to and from other currencies can be done in certain online services for exchange. As of August 2011, there were more than 7 million available bit-coins. Bitcoins hardcoding limits the total number of bit-coins to be “released” to 21 million. A decentralized and unregulated currency there is concern that the bit-coins used in black market transactions.

Source : Investopedia

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Emil Atanasov

Emil Atanasov

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