BITCOIN: THE MAGIC CURRENCY

in bitcoin •  7 years ago 

FOR THOSE OF YOU WONDERING WHAT BITCOIN REALLY IS???

bitcoin-and-future-space-cover.jpg

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.

The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.

Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.

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7 years ago by

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      ·  7 years ago 

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        ·  7 years ago (edited)

      Yeah... Okay like we haven't seen these bitcoin-explanation posts dozens of times already... I thought maybe this guy had something unique, but nope... It's the same as those other 100s of posts.

      And even worse... You just copied this!!! I mean.. If you write such a non-original post, then please try to atleast write in your own words... But you just copied it! This is garbage TBH

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          ·  7 years ago 

        Thanks for your feedback pal. I appreciate. But I really assumed wikipedia is more resourceful and accurate than me in this regards. @pizzachain

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            ·  7 years ago 

          You're welcome :)

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