.jpeg)
Bitcoin is a type of digital currency. In a controlled manner using encryption techniques, single currency is produced and its funds are transferred. This type of currency is called cryptocurrency. It operates independently without the intervention of the central bank. Usually it cannot be held or laid like a coin. The exchange can be done without any hassle. This is why Bitcoin has become so popular in such a short time.
Bitcoin is a virtual transaction system launched in 2009 about 11 years ago. Although it is not popular in Bangladesh, it has become increasingly popular all over the world. The inventor of this transaction system which has been speculated for so long. An Australian citizen claims to be the inventor of Bitcoin, putting an end to speculation in the entire technology world. His name is Satoshi Nakamoto. Creek Wright later claimed that Satoshi Nakamoto was his pseudonym.
Whatever, Bitcoin transactions are either peer-to-peer or from customer to customer's computer as it does not go through any decentralized clearing house. Nor is there any regulatory body to control it. Bitcoin is an online open source software that completes all processes. Anyone can generate bitcoin through bitcoin. The process of generating Bitcoin is always predictable and limited. As soon as Bitcoin is generated, it is stored in the customer's digital wallet. If these stored bitcoins are sent to someone else's account, a unique electronic signature is created for this transaction. Is monitored by other minors and is confidential but securely stored in the network.
At the same time the current laser-centric database of customers is updated. If a product is purchased with Bitcoin, it is sent to the seller's account, if it is to the seller's account, it is sent to the seller's account, and the seller can later buy the product again with that bitcoin.
On the other hand, an equal amount of bitcoin is deducted from the buyer's ledger. The total number of bitcoins is determined in full every four years. So, as to be in harmony with the real currency.
The future of Bitcoin
Mark Andersen, co-founder of Silicon Valley-based venture capital firm Andersen Horowitz, highlighted the future of Bitcoin in a sub-editorial titled "Why Bitcoin" published in the New York Times on January 21, 2014.
Mention Andersen Horowitz invested 50 million in the shooting of Bitcoin-related Stars of Shots in January. And is currently exploring its bitcoin-based investment opportunities.
Andersen said in his writing, "One of the essential and huge areas of Bitcoin-based innovation is international remittances. Every day, hundreds of millions of low-income people go to other countries to work hard to earn money.According to the World Bank, these people send 400 billion in remittances to their home country every year. Every day banks and financial institutions elsewhere deduct a fee of as much as 10% of the remittances and sometimes even more horrible." Which is a big problem for people living abroad. Bitcoin has many functions to solve this problem.
If you use Bitcoin to send remittances, you will not have to pay any additional fee or charge. And even if you have to pay, the amount is very low. So the living standards of migrant workers and their families will increase significantly. In fact, it is very difficult to imagine that such an issue would have a very rapid and quite positive effect on a large number of people in the poorest countries of the world.
Moreover Bitcoin can naturally be a major force in bringing a large number of people in the world under a modern economic system. At present only a few countries have fully modern banking payment systems. On the other hand, most countries still have a long way to go. As a result, many people in many countries are not getting the products and services that we get in the West. Bitcoin can be used as a global payment system by anyone at any time and from anywhere.
Our bank= Bitcoin Wallet
The third interesting use of Bitcoin is 'micropayment' or ultrasound payment (a very small amount of payment.) Despite 20 years of trying, it has not been possible because it is not cost effective, the current use of (credit / debit / Visa) and banking system is not cost effective. , Less than 1, just a few pennies or a fraction of a penny, etc. The pricing structure of these arrangements did not allow small payments to survive.
The matter is very simple for Bitcoin. Bitcoin has an infinite number of exact and small numbers. Currently that can be divided into smaller parts up to 8 digits after the decimal. There will be more in the future so you can use any small piece of currency as you wish. For example, (one part of 1000 per panic) and can be sent to someone for free or at some cost to the world.
Consider the issue of content pricing. One reason is that the media business is struggling to impose such content on magazines. Because they need to charge for the entire content or be completely free, so the web is full of various ads. Bitcoin is an economically viable approach right now. With which arbitrary small amounts can be charged per article or section or hour or video view or archive access or cost alert.
Another potential use of "Bitcoin micropayments" is to fight spam. In the future, email systems and social networks may refuse to accept incoming messages. Until a tiny fraction of their bitcoin is refined. While the small part doesn't matter to the sender, spam is enough to stop them. Who can now send countless billions of spam messages without any hassle and expense.
Finally, Bitcoin is a modern epoch-making currency system. Digitization of everything is happening in the current age of technology. This will have a touch of digitization, even in our monetary system. According to technologists, "in the near future, digital currency will be the only means of transaction." Although Bitcoin has been banned in many countries, including Bangladesh, due to various legal complications, it is hoped that in the future it will become well-known as a conventional currency system.
All in all, Bitcoin is considered by many to be the future money.
Thanks to all 🙏
Cc-:
@steemitblog
@steemcurator01
@steemcurator02
The price of Bitcoin (BTC) will be 13887.71 USD
The use of Bitcoin in remittances is significantly growing over the last 3 years or so. It has become a new medium for remittances and surely with more freedom, independent from the traditional system, and the hectic processes and waiting time. The overall cost of transfer for an end-user is significantly high in the existing method, moreover, the low transaction is levied higher charges(in terms of percentage of fees).
So Bitcoin as an alternative remittance solution is both time-saving and cost-effective with a better saving on the cost of the transfer.
Thank you.
#twopercent #india #affable
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes, your are right... Today i am so busy. So it was too late to reply. 🙏
And thanks a lot.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit