About bitcoin


Md ISARAT2022/08/13 02:07
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Bitcoin (₿) is the world's first open-source cryptocurrency known as a decentralized digital currency. It does not require any type of financial institution or clearing house for transactions,

About bitcoin

Bitcoin (₿) is the world's first open-source cryptocurrency known as a decentralized digital currency. It does not require any type of financial institution or clearing house for transactions, and it is not a currency issued by any country's government. (02) (03)

Bitcoin transactions are made directly from the sender to the receiver's computer on an online basis. (4) These transactions are verified through cryptography and are publicly recorded in a ledger that is distributed to all. This open and distributed ledger is called the blockchain. (5) Bitcoins are produced through mining where transactions are recorded and authenticated based on computer processing power. (06) The total number of Bitcoins generated from transactions decreases every four years. In this way, a total of 2,10,00,000 Bitcoins will be created until the year 2140 and no new Bitcoins will be created thereafter.(7)

No financial institution is required to complete a Bitcoin transaction, and details about the physical identity of the sender and receiver of the transaction cannot be tracked. (08) (09) Bitcoin is gradually becoming popular in many countries. (10) Bitcoin is currently used as a digital currency, product or service. Apart from legitimate commodity transactions, Bitcoin is also used in drug smuggling and money laundering. Although Bitcoin has gained popularity as a digital currency, it has been criticized by many due to its extreme price volatility against various international currencies, its scarcity, and its limited use in business.(11)(12)

Canada recently launched its first Bitcoin ATM machine. (13) The US and Canadian governments are considering requiring Bitcoin customers to be registered in order to prevent drug trafficking, illegal arms trade and other illegal uses. (14) (15) How to make Bitcoin safe : Hackers and scammers will always try to steal Bitcoin so it should be secured first. If you are interested in investing in Bitcoin and want to buy some amount of Bitcoin then it is best to use Bitcoin wallet. Two wallets are mentioned here. i) Ledger What to invest in Bitcoin Mining: The Bitcoin mining industry is currently moving at a very fast pace. Earlier this mining work could be done through home computers but now specialized data centers are being used. These data centers are warehouses with lots of computers just to find bitcoins. Currently it takes several crores of rupees to start profitable Bitcoin mining. And there is no guarantee that the investment will return

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