What is bitcoin?
What is Bitcoin? Cryptocurrency
It all started in 2008 with the publication of an article in which a type of electronic money called Bitcoin digital currency was introduced.
Bitcoin was created by an unknown identity "Satoshi Nakamoto".
Years later they became media headlines and forced economists and experts to have intense theoretical discussions on the subject.
The digital currency Bitcoin was the first digital currency that started the trend of decentralization in the post-internet world.
Bitcoin can be a form of money that you make online purchases or orders, as a type of investment that maintains the value of your money in the long run.
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| What is bitcoin |
Who controls the digital currency Bitcoin:
Bitcoin is not controlled by any particular person, group or organization, unlike today's money, whose distribution is in the hands of governments.
People entering the network of this digital currency must accept the rules of the network. These rules are in the form of programming codes that everyone can see on the Internet.
Bitcoin is not controlled by any particular person or group.
Bitcoin is not actually under the control of any of these groups or governments, organizations, foundations, or other specific persons.
What is the purpose of creating the digital currency Bitcoin?
In short, the purpose of Bitcoin digital currency is to transfer or store money securely.
And transferring money at a lower cost, for example, you can transfer a million dollars with a fee of less than one dollar, and this is what makes it special.
In addition to the main reason and purpose of creating the Bitcoin currency, which is that it is a decentralized currency, meaning that no one controls the Bitcoin currency, such as banks, governments, organizations, and this is one of the main reasons behind the creation of Bitcoin, which is to be without control, without intermediaries.
For this reason, it can be considered as a secure digital banking system.
Bitcoin actually puts real control of the money back into the hands of the people themselves, and by using a special password called the private key, only the owners of those keys will be able to spend and transfer bitcoins.
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