Bitcoin is a cryptocurrency created in 2009 by the mysterious Satoshi Nakamoto using cryptography. Transactions are verified by nodes around the world and recorded on a public ledger called the blockchain, making it the first decentralized digital currency not controlled by a central authority. Mining new coins involves solving computationally difficult puzzles using specialized software and hardware, and was initially done on regular computers but now requires powerful ASICs or GPUs due to increasing difficulty. While Satoshi Nakamoto's true identity remains unknown, bitcoin has gained supporters who see it as the future of currency despite having no government backing.

1. What is
Bitcoin?

2. Bitcoin is a cryptocurrency that was created by the
mysterious Satoshi Nakamoto in 2009. With the use of
cryptography, transactions are verified by multiple nodes
around the world and are recorded in a public ledger called
a blockchain. It is the first ever digital currency that is
decentralized; meaning, it is not controlled by a central
bank or one overseeing body.

3. A Bit of History
In October 31, 2008, a person under the pseudonym
Satoshi Nakamoto had released a white paper
entitled “Bitcoin: A Peer-to-Peer Electronic Cash
System” that detailed how the cryptocurrency would
function.
Following a few months, the very first bitcoin block
(Block 0) was mined and is now known as the
“genesis block” in January 3, 2009. Five days
following that, The Cryptography Mailing list
announced the first version of the bitcoin software.
On January 9, 2009, Block 1 was mined. This saw an
increase in mining.

4. Mining
With the use of a special software that solves mathematical
problems, people can create new coins by “mining” them.
Along with the appropriate hardware, miners have to solve
a computationally difficult puzzle to uncover a new block to
be added to the blockchain and will thus be rewarded by a
set amount of the cryptocurrency. In 2009, the set amount
was 50 but has went down every four years.
As time goes on, the process of mining had become
increasingly difficult as more coins make it to the market. It
used to only take a run-of-the-mill desktop computer to
mine back in 2009 but as of 2017/8 miners must utilize
stronger hardware in the form of Application-Specific
Integrated Circuits or Graphic Processing Units.

5. Advantages
Freedom
With bitcoin, it is possible to send
money anytime, any place.
Privacy
Transactions are always anonymous which can
prevent identity theft from occurring.
Transparency
Thanks to the blockchain all transactions
excluding personal information are available
for just about everyone to see.
Low Fees
With the cryptocurrency, there is a zero or
very low fee for every transaction made.

6. Who is Satoshi Nakamoto?
Satoshi Nakamoto has long been credited for the creation of
bitcoin but is only an alias for a person or a group who has yet
to reveal its identity. There are many theories as to why
Nakamoto chose to remain anonymous such as limiting his
exposure to the media and governments.
The media has also pointed to numerous people for possibly
being the elusive Satoshi Nakamoto. The New Yorker issued
an article back in 2011 that speculated that Nakamoto may be
Michael Clear or Vili Lehdonvirta, an Irish cryptography
student and an economic sociologist respectively. Names
including Vladimir Oksman, Charles Bry, Gavin Andresen and
Jed McCaleb had been speculated to be Nakamoto.

7. Trade with us at RImarkets
Today, there are many supporters of the cryptocurrency who are saying that it is the
future of the currency system. While it does not have any sort of government or
central bank backing it, it can still be traded for more traditional currencies.
Rlmarkets will help you get started with bitcoin trading by giving you the necessary
assistance, tools and resources for success. Rlmarkets also allows you to trade other
assets such as traditional currency pairs forex, stocks and commodities.

8. www.RImarkets.com