Who invented Bitcoin? Can Bitcoin be converted to cash? Are Bitcoin safe ?
Bitcoin is a digital currency which operates free of any control or the oversight of banks or governments. Instead it relies on peer-to-peer software and cryptography.
A public ledger records all bitcoin transactions and copies are held on servers around the world. Anyone with a spare computer can set up one of these servers, known as a node. Consensus on who owns which coins is reached cryptographically across these nodes rather than relying on a central source of trust like a bank.
Every transaction is publicly broadcast to the network and shared from node to node. Every ten minutes or so these transactions are collected together by miners into a group called a block and added permanently to the blockchain . This is the definitive account book of bitcoin.
In much the same way you would keep traditional coins in a physical wallet, virtual currencies are held in digital wallets and can be accessed from client software or a range of online and hardware tools.
Bitcoins can currently be subdivided by seven decimal places: a thousandth of a bitcoin is known as a milli and a hundred millionth of a bitcoin is known as a satoshi.
In truth there is no such thing as a bitcoin or a wallet, just agreement among the network about ownership of a coin. A private key is used to prove ownership of funds to the network when making a transaction. A person could simply memorise their private key and need nothing else to retrieve or spend their virtual cash, a concept which is known as a “brain wallet”.
for complete blog and find out Who invented Bitcoin?
Can Bitcoin be converted to cash?
Are Bitcoin safe ?
plesae click the link below
https://www.theadviserweb.com/2022/08/what-is-bitcoin-and-how-does-it-work.html
Hi! @meesamabaas, You have copied 100% text from this link. It is not right to copy other's content. Try writing your own post. It will be good for you. You can only take ideas from others' content. But other's content cannot be completely copied. I hope you understand.
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Yes it is because the link you shared is my Blog www.theadviserweb.com or https://www.theadviserweb.com/ i write blog regularly so i thought posting my ideas here can grow my website .
and thanks for visiting my website.
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Then you add steemit link with your blog. Then it will be easier for us to understand.
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