What is Bitcoin and how it works

Bitcoin is basically a type of currency that is powered by software and cryptography. Nobody knows who has discovered Bitcoin. Bitcoin comes online in the online world in 2008. Bitcoin works according to the peer-to-peer transformation system. Bitcoin's economy is completely open. The general money is governed by the government. Whenever they are needed they make new money. Bitcoin has no such conviction. However, a limit has been made during the making of Bitcoin. Mining will stop automatically after reaching 31 million Bitcoin. If the amount of bitcoin is increased too much, its prices will also decrease. That's why its arrangement. Bitcoin money can be withdrawn at very low cost. Since Bitcoin uses advanced cryptography, Bitcoin is also called cryptococoncopy. There are currently 25 million or 2.5 billion Bitcoins in the world, and 5 million Bitcoins have been lifted and the remaining 20 million are waiting for the transaction. Bitcoin Mining is being connected to 25 bitkayen networks every ten minutes. Bitcoin prices are increasing almost every day. In 2016, 1 bitcoin was worth only $ 1,000, but by June of 017 it stood at $ 2500. Many experts think that the price could touch $ 5,000 per year this year. Bitcoin has turned into a very popular nowadays. University of Cambridge has come out with a research that about 2.9 to 5.7 million users are using regular bitcane every month.

We use Bitcoin and Units such as unit and money. Bitcoin unit is Bitcoin, which is called BTC in a nutshell. The smallest form of Bitcoin is Satoshi. 0.00000001 Satoshi is a bitcoin.

Bitcoin transactions are a bit complicated. Suppose you have 50 rupees. You gave me that. So, from now on I am the owner of this 50 rupees. Do not stay this money with you. And since there is no proof of this money, you will not be able to claim ownership later on.

When money is traded in bitcoin, the data you give me will be stored on a computer digitally. The problem is here. If I delete this data in some way from the computer, I will not have any proof that the money is mine. One such incident happened in the case of a person. For some reason his computer's hard disk was formatted, he lost Bitcoin worth 75 million dollars.
There is one more problem. Because it is digitally saved so many copies of it can be made. In this way, it is impossible to make 10 bitcakes from a bitcoin. To overcome this problem, each bitcane has been given different cryptography and some mathematical numbers. Tracking these numbers can be understood by anyone who has Bitcoin. And those who do this tracking are called Bitakayen Miner. Bitcoin is given to them as a reward for their labor.

We reserve money in a particular place. It could be a home or a bank. Such Bitcoin can be stored in one place. And where it is stored, it is called Bitcoin Address. You have to know the bitcoin address you give to Bitcoin. Then you can exchange bitkayake. Again, if you want to purchase a product with Bitcoin, then send the product to Bitcoin address by sending a specific amount of money to the seller.

With Bitcoin, you can do as much as possible. It's heard, Amazon and Alibaba will soon add their products to the website as well as Bitcoin on their website.

But there are some disadvantages of Bitcoin in spite of such advantages. I said a while ago because the process is completely digital, so if your BitCoin address or Bitcoin is saved, if it crashes or forgets the password for Wallet, then never lose the lost bittacquin. Besides, every day, the price of Bitcoin is being made. Bitcoin can buy tomorrow's price tomorrow. In that case you will face major losses.
But it is a matter of hope that the price of Bitcoin is high. Many of us are now earning online through Bitcoin. There are many websites like Bitcoin earning, but most are scam. There are very few original websites that actually pay the money. And you can easily get rid of these money by penny or bKash.

Hopefully, understand what Bitcoin is doing and how it works. If you like the article like this, please do it the day and must comment. The next article will be seen again. be well.
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