Bitcoin

Bitcoin

Nowadays most of people are talking about bitcoin, let’s take a tour with Chess Trending to know more about bitcoin

 

The bitcoin is a cryptocurrency, is used like a dollar at daily transactions but online.

It has not physical shape, it’s not a coin or paper.

 

People create bitcoin by solving complex Mathematical problems, this step is called by Mining.

The exchanging between bitcoin and any product or service is processing without any system work as bank or administrator, and all the transactions are verified and saved in a public distributed ledger called “BlockChain”.

Also you can exchange bitcoin with dollar, euro or any currency.

Bitcoin was invented by unknown person or group of persons under the name Satoshi Nakamoto and released as open-source software in 2009.

Most of experts say that bitcoin is a golden cryptocurrency because there is 21 million bitcoins only and by 2140 it will be the end of mining for bitcoin.

If you decided to invest your money in this field, you have to know that the bitcoin is limited, so it may have a big value in the future.

 

You can buy bitcoin and save it in wallet but electronic wallets, the big issue here is your wallet maybe hacked.

From February 2015 there was 100000 seller of bitcoin.

The price of bitcoin is not stable because of investments in this currency.

Recently lots of cryptocurrencies has appeared as litecoin, dogecoin, novacoin, namecoin, peercoin and feathercoin.

December 2014 paypal, Microsoft, dell and newegg accepted to deal with bitcoin.

 


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