About Bitcoin

Why Bitcoin is 'Better Than Currency'?

What Is Cryptocurrency?

A Cryptocurrency (Or Crypto Currency) Is A Digital Asset Designed To Work As A Medium Of Exchange Using Cryptography To Secure The Transactions And To Control The Creation Of Additional Units Of The Currency.

Digital Currency In Which Encryption Techniques Are Used To Regulate The Generation Of Units Of Currency And Verify The Transfer Of Funds, Operating Independently Of A Central Bank.

Cryptocurrencies Are Classified As A Subset Of Digital Currencies And Are Also Classified As A Subset Of Alternative Currencies.

Decentralized Cryptocurrencies Such As Bitcoin Now Provide An Outlet For Personal Wealth That Is Beyond Restriction And Confiscation

Decentralized Cryptocurrency Is Produced By The Entire Cryptocurrency System Collectively, At A Rate Which Is Defined When The System Is Created And Which Is Publicly Known.

In Centralized Banking And Economic Systems Such As The Federal Reserve System, Corporate Boards Or Governments Control The Supply Of Currency By Printing Units Of Fiat Money Or Demanding Additions To Digital Banking Ledgers.

In Case Of Decentralized Cryptocurrency, Companies Or Governments Cannot Produce New Units, And Have Not So Far Provided Backing For Other Firms, Banks Or Corporate Entities Which Hold Asset Value Measured In It.

The Underlying Technical System Upon Which Decentralized Cryptocurrencies Are Based Was Created By The Group Or Individual Known As Satoshi Nakamoto.

About Bitcoin

Bitcoin Is A Cryptocurrency And A Digital Payment System Invented By An Unknown Programmer, Or A Group Of Programmers, Under The Name Satoshi Nakamoto. It Was Released As Open-Source Software In 2009

A Type Of Digital Currency In Which Encryption Techniques Are Used To Regulate The Generation Of Units Of Currency And Verify The Transfer Of Funds, Operating Independently Of A Central Bank.

"Bitcoin Has Become A Hot Commodity Among Speculators"

"Bitcoins Can Be Used For Online Transactions Between Individuals"

Bitcoin Is A Form Of Digital Currency, Created And Held Electronically. No One Controls It. Bitcoins Aren’t Printed, Like Dollars Or Euros – They’re Produced By People, And Increasingly Businesses, Running Computers All Around The World, Using Software That Solves Mathematical Problems. It’s The First Example Of A Growing Category Of Money Known As Cryptocurrency.

Bitcoin Worth More Than An Ounce Of Gold Right Now, It's Completely Digital And It's The Currency Of Choice For The Cyber Attackers Who Crippled Computer Networks Around The World In Recent Days.

In Short Bitcoin Is A Easiest Currency To Do Transaction Without Using Paper Money From One Person To Other.

How Bitcoin Works?

A Transaction Is A Transfer Of Value Between Bitcoin Wallets That Gets Included In The Block Chain. Bitcoin Wallets Keep A Secret Piece Of Data Called A Private Key Or Seed, Which Is Used To Sign Transactions, Providing A Mathematical Proof That They Have Come From The Owner Of The Wallet.

Difference Between Bitcoin And Other Currencies?

Bitcoin Can Be Used To Buy Things Electronically. In That Sense, It’s Like Conventional Dollars, Euros, Or Yen, Which Are Also Traded Digitally. However, Bitcoin’s Most Important Characteristic, And The Thing That Makes It Different To Conventional Money, Is That It Is Decentralized. No Single Institution Controls The Bitcoin Network. This Puts Some People At Ease, Because It Means That A Large Bank Can’t Control Their Money.

Bitcoin Is Printed?

Bitcoin Isn’t Physically Printed In The Shadows By A Central Bank, Unaccountable To The Population, And Making Its Own Rules. Those Banks Can Simply Produce More Money To Cover The National Debt, Thus Devaluing Their Currency.

Instead, Bitcoin Is Created Digitally, By A Community Of People That Anyone Can Join. Bitcoins Are ‘Mined’, Using Computing Power In A Distributed Network. This Network Also Processes Transactions Made With The Virtual Currency, Effectively Making Bitcoin Its Own Payment Network.

What Is Bitcoin Based On?

Conventional Currency Has Been Based On Gold Or Silver. Theoretically, You Knew That If You Handed Over A Dollar At The Bank, You Could Get Some Gold Back (Although This Didn’t Actually Work In Practice).

But Bitcoin Isn’t Based On Gold; It’s Based On Mathematics. Around The World, People Are Using Software Programs That Follow A Mathematical Formula To Produce Bitcoins.

The Mathematical Formula Is Freely Available, So That Anyone Can Check It. The Software Is Also Open Source, Meaning That Anyone Can Look At It To Make Sure That It Does What It Is Supposed To.

Why Bitcoin?

Because Bitcoin Is Entirely Decentralized, You Need Trust No One When Using It. When You Send A Transaction, It Is Digitally Signed, And Secure.

An Unknown Miner Will Verify It, And Then The Transaction Is Completed. The Merchant Need Not Even Know Who You Are, Unless You've Arranged To Tell Them

A Transaction Done From Bitcoin Is More Faster Then The Other Manual Transactions Like Check Clearing, Dd, Etc.

Your Money Is Much Safer If It Is Stored As Bitcoin Because It Is Safest Mode Of Securing Money As It Has Safe Wallet Transaction System.

So Start Mining With Us And Store Your Money As Bitcoins.

What Is Altcoins?

An Altcoin Is Any Digital Cryptocurrency Similar To Bitcoin.

Most Popular Altcoins Use The Same Fundamental Building Blocks As Bitcoin. This Approach Is Relatively Easy To Carry Out Because Bitcoin Is A Free, Open Source Platform.

Some Altcoins Have Different Monetary Policy Rules Built Into The Currency To Encourage Different Uses And Treatment. Policies Such As Minimum Spend, Or Positive Or Negative Interest On Coins Stored, Can Encourage Or Discourage Hoarding.

Policies For Coin Mining May Function Differently From Bitcoin, As May The Number Of Coins Paid Out Per New Block Mined. Some Altcoins Are Made To Discourage Asic Or Gpu Mining. This Limitation Is Designed To Reduce The Advantage Of Specialized Coin Miners, As In The Case Of Litecoin, Upon Which Half Of All Altcoins Are Based.

An Altcoin Blockchain May Also Store Different Metadata About The Coin’s Previous Transactions Or May Allow The Coin To Be Repurposed As An Alternate Asset. While Some Altcoins Can Be Attempts To Enrich Founders And Offer Little New, Many Have Found Niches Because Of Way Their Differences Encouraged New Miners And Uses. Since Bitcoin's Inception There Have Been Upwards Of 500 Altcoins Created. Litecoin, Dogecoin, Blackcoin, Freicoin, Peercoin, Vericoin, Myriad, Nxt Are Just A Few Examples Of Altcoins.