How are you all steemians? I hope you all steemians will be safe and sound by the grace of Allah Almighty and I'm fine too Alhamdulillah by. Today I am here to share my participation in the contest organized by
@saintkelvin17.
Bitcoin: My View, Myself Wk47
LINK
It is a digital currency and it was introduced in 2009 by a group of persons.It has its operation on a peer to peer network and its network allow all the users to receive and send payments without banking system need.
The blockchain is one of the most important features of the Bitcoin cryptocuurency. A blockchain is an administer record and all the transactions are recorded which are made with Bitcoin. Each transection which is made with the Bitcoin is grouped together in a block and these blocks also linked together and form a chain and so they are named as blockchain. The technology of blockchain provides the security and every transaction is accessible and it can not be changed once it is added to the block chain.
The transactions of Bitcoin are recorded on the blockchain and they are verified by the nodes of the network crypto graphics. The powerful computers are used to mine the coins of the Bitcoin and the purpose of use of the powerful computers to solve the complex mathematical problems and these are important for the validity of the transactions of Bitcoin.
The volatility I'm the market of cryptocurrency affect the value of Bitcoin and the fluctuations in the value can cause loss and gain for the investors.
In the year of 2010, Laszlo Hanyecz made the history of Bitcoin by finishing the transactions of Bitcoin.It's value was negligible as compared to other standards because it was on the beginning. Laszlo took a decision to place his Bitcoin for the use in practice. He offered his Bitcoins to anyone to pizza in his house and it is was later called as Bitcoin pizza day. For the first time the digital cryptocurrency was used to buy something.
In the year of 2021 the value of Bitcoin was reached very high per coin about 60,000 dollars. This was catching the attention of the investors and government worldwide. The story of Laszlo pizza served as a starting point of history of Bitcoin.
It I were rewarded with 0.5 Bitcoin I would utilise this cryptocurrency efficiently.First of all I analyse the trends of the market and I will decide to hold on a half portion of 0.5 Bitcoin and it will be benifical in the future.
The other remaining Bitcoin I will use it for the purpose of charity and it will about the educational needs for those who are not able to bare their educational expenses just because of their low income.
Another suitable name for Bitcoin will be Digital Gold and I took this another name for Bitcoin because like gold it is scarce too. It has limited supply like gold.
@sahar78
@khursheedanwar
@sahmie
Curated by: @bossj23
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