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Complete step-by-step guide for finding out what Bitcoin is

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Bitcoin ❤❤
@faissalchahid
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The definition of Bitcoin in short Bitcoin appeared in 2008 after Okobi Wall Street accused big banks of misusing borrowers' money, tricking customers, falsifying the system, as well as baffling fees. Bitcoin pioneers wanted the seller to take responsibility, eliminate the broker, eliminate interest charges, and make transactions more transparent to end corruption and reduce fees. So they created a decentralized system, where you can control your money and find out what's going on. Bitcoin was launched in a relatively short time, reaching all over the world, companies, from "REEDS" jewelry, and a large jewelry chain in the United States, to a private hospital in Warsaw, Poland, which accepts bitcoin. Big companies have done this as well: “Dell”, “Expedia”, “Microsoft” and “PayPal”. While websites promoted by them, magazines published their news, and forums discussed the digital currency and its trade. Bitcoin has its own API, price index, and exchange rate.

    Bitcoin transaction features:

  1. It cannot be undone: after the transaction has been confirmed, no one can undo it. Then this transaction will not be for you, not for your bank, not for the President of the United States, not even for Satoshi, and not for the metal that confirmed it. You will never have anyone. Once you send the money, it is sent and confirmed, and then no one can help you get your money back if you sent it to a scammer or the pirates seized it using your own device.

  2. The use of pseudonyms: transactions and accounts are not related to real world identities. Bitcoin is received on so-called numeric addresses, which appear to be random strings of about 30 characters. While it is possible when doing flow transaction analysis, it is not necessary to correlate users ’real identity with those addresses.

  3. Speed ​​and Global: Transactions are published almost instantly in the network and confirmed within a few minutes. And because they happen on a global network of computers, your physical location doesn't matter. It does not matter if you send bitcoin to your neighbor or to someone on the other side of the world.

  4. Security: Bitcoin funds are secured in a “Private Key” encrypted system. Only the owner of the private key can send the digital currency. A strong encryption system and complex large numbers make it impossible to break this system.

  5. Do not ask for permission: You do not have to ask anyone to use your digital currency. It is just software that everyone can download for free. Once installed, you can receive and send Bitcoin or any other digital currency. No one can stop you.