Home Cryptocurrency Bitcoin: The First Decentralized Digital Currency in History

Bitcoin: The First Decentralized Digital Currency in History

9 min read
0
0
44

Today we often talk about Bitcoin, the first digital currency. In a short time, he has come a long way, arriving on Wall Street: today, it represents the real history of the world of cryptocurrencies.

When we talk about Bitcoin, we refer to a digital currency distributed and used electronically. This currency has a decentralized peer-to-peer network that frees both institutions and individuals from control. In practice, nobody can keep it under control, but the only thing that determines its value is the intersection of supply and demand. It is an economic system that cannot be printed, let alone become physical, but is digital and intangible.

The characteristics of bitcoin

The amount of Bitcoin is minimal; in fact, it is not possible to create more than 21 million of these titles. Satoshi Nakamoto created this digital currency several years ago, i.e., in 2019. It is not known yet if he is the only creator of this system, but in reality, it would seem that he can obtain paternity. So when we talk about Bitcoin, we are referring to an open-source software created by the programmer residing in Japan. In mid-2010, the project passed into the hands of Gavin Andresen, the real developer and head of the project. What is certain is that everything has changed since then. Nowadays, it is enough to look for one of the leading European exchange platforms to understand how high the value of Bitcoin is and that it will probably continue to grow. Control over Bitcoin

Bitcoins represent impressive advantages from a traditional currency point of view. There is no authority or institution capable of interfering with transactions, with exchanges of expenses or with any transaction for users. Bitcoin movements are very transparent, and every transaction is filed in an accounting book that is known by the name of blockchain. That’s why the Bitcoin network is exciting because it cannot be controlled by anyone except by the intersection of supply and demand. So it is the network itself that controls the decentralized system. The blockchain, in turn, is completely secure and reliable. Every transaction is absolutely under control, thanks to a token and block system.

The other characteristics of Bitcoin

Another of the main advantages of cryptocurrencies is the fact that they do not have a commission, they can also be used by those who do not have a bank account, and then it is an anonymous and secure payment system.

 Another interesting point is the environmental impact of this system, click here to know about the transactions made in this way. Using these transactions you can avoid printing plastic credit cards, and also, you save a lot on ink and paper, as well as everything you need to produce cash instead. In short, a real revolution that could also have essential aspects from an environmental point of view and to reduce the waste of resources and pollution.

Tips for trading Bitcoin

  • Tip # 1: First, Bitcoin’s pricing is primarily influenced by supply and demand. Consequently, it will be necessary to compare the Bitcoins in circulation with the increase in claim and demand.
  • Tip # 2: Another very influential factor regarding the evolution of Bitcoin concerns the regulations on transactions made with this crypto-currency, which are imposed in a more or less rigid way by the various governments.
  • Tip # 3: The media and all the journalistic publications on Bitcoin can be good or bad publicity for this digital currency and therefore have a direct influence on the demand and the stock market quotation of this asset.
  • Tip # 4: As you undoubtedly know, Bitcoin user and developer communities also influence the rise or fall of its price.
  • Tip # 5: Finally, technology itself has an impact on the evolution of Bitcoin’s stock exchange listing. The latest technological advances and innovations, therefore, have the power to influence the price of this value.

Bitcoins can be exchanged between individuals, professionals, or individuals on the Internet .This is the reason why it is possible to treat bitcoins: they have become a full-part asset with a price that knows bullish and bearish trends, but above all, that is characterized by extreme volatility.

Facebook Comments

Must Read:  The 5 Criteria for Investing Well in an ICO
Load More Related Articles
Load More By mindmingles
Load More In Cryptocurrency

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Check Also

Where to buy the best CBD – online or nearby?

Are you looking to purchase a CBD vape pen? Do you get confused about purchasing online or…