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Bitcoin

 Bitcoin is a crypto-currency or digital currency which uses peer-to-peer  technology of virtual currency and can be used for online payments, exchanged for cash or in fund trading.

Bitcoin is a peer-to-peer system which operates with the same-name digital currency. This system is not controlled by anybody and is fully autonomous. Peering system is secured by Proof-of-work. The principal of Proof-of-work is quite complicated, because it is based on asymmetry of time consumption and quite complicated requests that makes it almost impossible to use funds numerous times for the users.
The history of Bitcoin foundation is quite foggy and, according to the most popular version, it was developed by Satoshi Nakamoto, who has uploaded full description of peering net operation to the web in 2008.
Bitcoin is not controlled by anybody, while supply and demand are based on trust of the users. Bitcoin is not attached to any funds or currency, and while nobody manages it, its current position depends on demand of the users and nobody can affect it.
Now any user can register Bitcoin wallet and won’t be required to provide any personal information or confirm it with copies of documents or in any other way unlike other payment systems. The wallet is generated randomly and the user gets a random combination of numbers and letters included to his ID. To make a wallet, you only need to enter https://bitcoin.org/choose-your-wallet.
As against to other payment systems, Bitcoin has no necessary commissions and the user can take it for money transfer or payment on his discretion.
However, the most interesting fact about this digital currency is that it is used by absolutely different people all over the world from the beginning and to get some,you only need to have a computer. It generates sixty four digit numbers and the user gets bitcoins in case the correct code is picked. This process takes its beginning in 2008 and it was quite easy to get Bitcoin, but it is much more complicated today, that’s why many users make pools to obtain digital coins. According to the data by Bitcoin peering system, development of the virtual currency comes to an end to 2140 and its total amount will be about twenty millions.
While at the first stage when small circle of people new about Bitcoin they could be purchased for a ridiculous cost, to be more exact - 1300 bitcoins for 1 dollar, now the situation has completely changed. This way, cost of 1 Bitcoin can reach 250 dollars at the stocks selling crypto-currency, such as UpBit, APSJEX, Exmoney, Comkort. The only thing we can say for sure is that number of crypto-currency stocks is rising up day by day, because quantity of Bitcoins is rising up as well as its popularity.
For those who wants to try to obtain Bitcoins free, we can suggest the most famous online portal - Cex.io.
Advantages of Bitcoin:
instant registration;
anonymity (personal information is not required);
full security of break-in;
free development.
 
Conclusion
Bitcoin is a digital currency established in 2008 which has quickly gained great popularity. Its cost is rising up proportionally year by year. Bitcoin are already accepted in some online stores and poker rooms. In connection with rising popularity of Bitcoin, more and more stocks which trade this virtual currency appear in the web every day.
This currency is beyond the control of anybody that makes it absolutely independent and noninflationary.
Rating: 9.67 / 10
( votes: 12 )
Date: 2014-08-14
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