Definition of Bitcoin
It is called bitcoin to a cryptocurrency that was created in 2009 . It is electronic
( virtual ) and unofficial money that can be used as a means of exchange in commercial operations.
The creation of bitcoin is attributed to Satoshi Nakamoto , who would be a Japanese man. However there are those who believe that Nakamoto does not really exist but is another person or even a group of individuals charged with carrying out the development. Usually speaking of Bitcoin (with initial capital) when you want to refer to the network and the protocol that serves as a support to the virtual currency.
On the other hand, when the notion of bitcoin is used (without initial capitalization), this coin is alluded to in itself. The operation of Bitcoin is decentralized : there is no state authority that is responsible for issuing or backing the monetary unit. In addition there are no intermediaries between those who decide to use bitcoins.
It can be said, in summary, that Bitcoin is a protocol that appeals to peer-to-peer ( P2P ) technology to create a commercial exchange unit without the intervention of a bank or a central authority. Both the issuance of bitcoins and their management are developed collectively. As a protocol, Bitcoin has open source and its design is done publicly.
Bitcoins are stored in digital wallets that can be carried on mobile devices, computers (computers) or on the Internet . To obtain bitcoins, it is possible to acquire them in an exchange house through a bank account, buy them from another user or receive them as a means of payment. Bitcoins, in turn, allow you to pay for numerous products and services.
If bitcoin cryptocurrency has begun to be used forcefully in recent years and its system continues to grow and grow is due to the set of advantages that are associated with it. Specifically, among them we can highlight some such as the following: - Leave aside the banks, since there is no intervention of any type of central bank. -It is also established that the fact that it allows real-time transactions is really beneficial.
-To all the above we can also add that at no time gives the possibility that debt can be generated. -In contrast to any currency in the course of a given country, it is impossible for the bitcoin to be falsified. - There are those who consider that another great advantage of this cryptocurrency is the fact that its use is anonymous.
This circumstance gives the possibility that it can even be used in countries where totalitarian regimes exist. -It is also considered that the use of bitcoin is safe and transparent. And it is not only behind a strong cryptographic system but also a reliable protocol. Also, we must know that each and every one of the transactions that are made have a free access record. -To all the above we must add that it works 24 hours a day.
On the contrary, among the disadvantages are that there is what is known as a guarantee of acceptance and that it becomes a very appropriate currency to speculate.
