Virtual currency: What is Bitcoin?

The most attractive feature of Bitcoin is that there is no bank in between. There is no bank that tracks your account activity or charges money. This ensures that small donations can be made to some individuals or organizations without interruption. In addition, money supply is realized in accordance with a specific protocol and as a result of a predictable process.

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On November 1, 2008, Satoshi Nakamoto sent a research paper on a new digital currency called Bitcoin to the cryptography list on metzdowd.com.

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Nakamoto was someone the list goers didn't know. His profile said he was from Japan, but his e-mail address was from a German server. There was no information about him when he was researched on Google.

It was probably a fake name. Later, he developed Bitcoin, which he described in his article, as a software that only runs on Windows. The source code of the software he developed was partly elegant and partly cursory. Looking at the code, it was difficult to tell whether Nakamoto was an amateur or a master programmer. To some, he was an academician with a broad theoretical knowledge but little programming experience.

We never found out if Nakamoto was a person or a group. On 5 December 2010, after Wikileaks announced that it could accept bitcoins as donations, Nakamoto told them not to do it in a hurry. According to Nakamoto, Bitcoin was an experimental project and was still in its infancy. Bitcoin wasn't strong enough to carry Wikileaks. On December 12, 2010, he disappeared after commenting on several minor details in the software.

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