What is Bitcoin and how to introduce Bitcoin in a simple and understandable way?
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Bitcoin is an Electronic Cash System that is committed to decentralization and is based on blockchain as a payment technology. It was invented by Satoshi Nakamoto in 2009 based on a borderless peer-to-peer network using consensus-active open-source software. Satoshi Nakamoto defined Bitcoin in his white paper as Peer-to-Peer Electronic Cash System. In this definition, Satoshi Nakamoto emphasized the decentralization and virtual non-physical characteristics of Bitcoin and positioned it as Cash. Cash is a kind of commodity that can be used to exchange goods, loans and services, that is, a kind of currency. But in contrast to this, the central banks of major countries such as China, the United States, Europe, and Japan have not recognized the status of Bitcoin as an official currency.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Satoshi Nakamoto was very rigorous in designing Bitcoin. The title of the white paper, Bitcoin: A Peer To Peer Electronic Cash System, does not mention that Bitcoin is a currency. In fact, the entire white paper does not say that Bitcoin is a currency, only that it is a payment system. It's just that the current bitcoin derives its investment properties, allowing many investors to see its investment potential and choose to invest in large exchanges such as ZB.com and Huobi.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is an investment tool with a high-tech skin. In essence, it is not much different from stocks. Not even as good as stocks. Ordinary currencies have countries and governments as credit support, but Bitcoin does not have a strong enough trust foundation to support it. It just means that you can trade if you believe me, but completely ignore the person next to me who doesn't believe me at all.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is a tool for people who don't understand finance at all to use advanced computer technology to cheat money.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is a big asset, analogous to gold. However, one thing no one seems to have mentioned, Bitcoin has its solid basic disk and usage scenarios, that is, various underground economic activities. For example, some people use it to evade taxes, for example, South Americans use it to trade drugs and so on. Due to the fact that the blockchain cannot be cracked without a center, it is difficult for officials to monitor these activities. In addition, there is another point not mentioned in other answers that the current ecological environment of Bitcoin (and other digital currencies) has become highly complex. In addition to regular exchange transactions, for example, investors go to coinbase, bitmex, ZB.com and other exchanges to invest. It also derives payment, derivatives (options, futures), single transaction market maker, ico brokerage, asset management, self-operated, and cross-exchange liquidity provision services.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is a peer-to-peer, decentralized network virtual currency, which was conceived by the anonymous Satoshi Nakamoto and his team. The background is that during the 2008 financial crisis, central banks of various countries printed and issued banknotes at will, causing inflation. Major financial institutions and bancassurance systems collapsed. As a result, people's assets in various countries have shrunk, and they cannot afford to buy houses and repay loans.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is a kind of cryptocurrency, which solves the problems of credibility and protection in centralized transaction scenarios. After its birth, virtual currency transactions were gradually derived. If you are interested in Bitcoin or virtual currency, you can check out my blog. There are introductions from registration, avoiding pits, basic knowledge to the final transaction.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit