However, the majority of people will probably recognize that “I often hear their names, but what is Bitcoin?” and “It’s like electronic money.”
In addition, images such as “unclear but suspicious investment” and “scams” are leading.
What is Bitcoin for such people? Isn’t it suspicious? In order to answer such questions, I will explain it in an easy-to-understand manner.
What is Bitcoin?
Bitcoin is attracting more attention because it has the above characteristics. Bitcoin is a “currency” that can be traded and newly issued on the Internet.
Bitcoin is the world’s first “decentralized virtual currency “that can be traded and newly issued on the Internet. Bitcoin is “money ” as you can see from what is called a virtual “currency.”
It is a currency that has the same value as “money” like the yen and the dollar.
Therefore, there are currency units such as yen and dollar. The unit of Bitcoin is BTC.
“Money” not controlled by the government or central banks. If the currency has the same meaning as the yen or the dollar, there is no need to create it.
So what is different from conventional currencies is that Bitcoin has no issuer. Generally, currencies are issued and managed by the government and central banks, but bitcoins are distributed and issued and managed using P2P.
As a result, transactions can be made directly without going through a bank or government, and brokerage fees are free or fairly low.
Furthermore, since it trades on the Internet, it is possible to trade with anyone in the world for 24 hours.
It is also a currency specializing in security, as transaction records are virtually tamper-proof.
Is Bitcoin a digital version of gold? Is issued by mining?
The legal amount such as yen and dollar can be freely adjusted by the national government and the government, but since Bitcoin is software, the upper limit of issuance is predetermined by the program.
The issuance limit is set at 21 million BTC (bitcoin unit price).
Furthermore, the issuing speed is also determined by programming. Initially, 50 BTC was issued every 10 minutes as shown in the graph above, but the amount issued has been halved every 4 years.
This date of halving is called the half-life.
The program plans to reach the cap in 2140 and end issuing Bitcoin. However, strictly speaking, the issuing speed is determined by the bitcoin users and the participation status of the network, so in reality it is proceeding a little faster than planned. Crypto Superstar Login is one of well know bitcoin trading software which is easy to use.
With respect to the part that the upper limit is the gold are common and, bit coin and gold is similar to why it is said that it is.
When mining becomes difficult and the number of issues decreases, the value increases, and some people wait for the price increase
Bitcoin has a programmatic limit of 21 million BTC, with the mining volume being halved every four years. Alternternatively, the excavation amount will in general decrease, and the competitive rate will increase as you try to get more.
At the beginning, I could participate with a general computer, but when competition became fierce, I could not mine without a computer that can perform high-speed calculation processing.
Then there were people waiting for the price increase by exchanging cash for bitcoin rather than mining with an excavation machine.
An exchange office has been opened for these people, and as of today, 1 bit coin can be exchanged for around 1 million yen.
Bitcoin is the first researchers and programmers who are research which was started for, imperceptibly to the world had spread you.
Thus, as the first paper, Bitcoin was established as a new “currency “. Today, many virtual currencies are being created in addition to Bitcoin.
Know the history of Bitcoin?
Bitcoin is the first virtual currency created. At first it was a currency on the internet with no value, but gradually it was treated as a trading currency, and now it is recognized as a currency that can be traded all over the world.