By: sidhucap: MoneyLast Updated: Mar. 23, 2018
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What is BitToine (Details in English) - Hello friends, In today's post we will learn about bitcoin kya hai (what is), how it works and how it is made. If you are thinking about purchasing bitcoin before that you should know what bittoine is it? And what are the advantages and disadvantages of buying it? There has been a lot of discussion about bitcoin on the internet over the past few days and it is natural to have discussion as bitcoin has increased manifold in the last one year, which has greatly benefited those people who buy bitcoin at a lower price. Had taken. In today's time, the price of 1 bitcoin is in lakhs and its price is increasing day by day, but what is the reason for all this and why bitcoine has become so much more expensive. We will know all these things in detail in detail.
What is Bitcoin?
Friends will be surprised to know that bitcoin is not a currency of any country. It is just a virtual currency which is also called cryptocurrency and is used only for digital payment. We can neither see Bitcoin nor can it be seen only in online virtual form and can be used. This is a Decentralized currency, which means it does not control any and it has no bank. Bitcoin is a peer to peer network based currency, which is a direct transfer from one wallet to another wallet, in the meantime there is no supportive bank or company, we only have to pay charges in the wallet we keep in it.
It was invented by a person named Satoshi nakamoto, which is still unknown or imagined, nobody knows who is its real inventor and if he is a person then he will be the 44th richest person in the world today. Since Bitcoin first came in existence in 2009, its price has increased thousands of times since its inception and it has become very difficult to buy only one bitcoin in today's time. So far, you have come to understand that bitcoin is what but how it is formed and how many types it is, they also know.
Bitcoin is the only one
Where machines are used to print a currency on one side, due to the fact that the bitcoine is virtual, it is very difficult to construct. Creating bitcoin and the other kind of cryptocurrency requires complex computer programming, which is very difficult and time-consuming. Initially, the person who created Bitcoin created a computer program which was very difficult and with the help of which bitcoin was created. Even today, many programmers are bitcoin mining, for which they require hardware at large and advanced computer knowledge. 
Bitcoin is for expensive
So far you have bitcoin that but why has it become so expensive, what is the reason behind it? When bitcoin came into existence then nobody thought that one day its price will be so much but what is the reason behind it and why is it so expensive? Until a few years ago, many online sites used to deal with digital currency at the place of money and gradually it became increasingly popular, which is increasing.
But the reason for its being expensive is something else and it is available only in some limited quantity in bitcoin market. So far, total 12446725 bitcoins have been made or mined in the whole world and only 21000000 bitcoins can be made, no more than this. The programmer has limited it to a total of 21000000, after which it can not be made any further. This can be a reason for them to be so expensive and there is another reason that their price is so big.
The second reason is that people compete for earning it and this happened all of a sudden when there was a lot of publicity about it on the internet. As you know, that which is in a low quantity, its values increase very much like gold, just like bitcoin is also available in a limited quantity. Many people started buying it thinking that in the future, its demand will increase and its price will also increase and that is exactly what happened today, the cost of Bitcoin has reached millions.
How much is the cost of bitcoin
Its price keeps changing throughout the day. It is in the sense of any share in the share market. Its price changes according to the demand, if the demand is high then the price will be high and the price will decrease when reduced. Right now, the price of 1 bitcoin is about Rs 10 lakh, and if you want to see the current market price then you will know the prices on this site.
Types of bitcoin
Friends, it is very expensive to buy a bitcoin in today's time and if someone even buys a bitcoin then it has a bigger risk because the prices of bitcoin can decrease at anytime and anyone who has bought one or more bitcoin Then it can cause huge losses.
If you are thinking of buying bitcoin, then it is not necessary that you buy a small bitcoin instead you can buy a small part of it instead.
Just like 100 rupees make 1 rupee, Bitcoin is also made of 100,000,000 satoshi.
Now if the price of a bitcoin is Rs 1000000 then the cost of 1 satoshi will be 0.01. So in this way we can buy some satoshi without purchasing an entire bitcoine.
Conclusion
Hopefully, with the help of this post, you have got complete information about bitcoin and now you have come to know that bitcoin is what and why is it so much for the cost? Friends, as I told you above, bitcoin is an independent currency, or say it has no boss, so if any problems arise, then no one will be responsible for it and your money can be drowned. Yet many people in India are buying it so that it can reduce money.
If you have any other questions to ask then comment and do not forget to share this post.