SlideShare a Scribd company logo
1 of 14
Download to read offline
Topic: BITCOIN
BY: KASHIF
TO: SIR KAMRAN
What is Bitcoin
 Bitcoin is a new payment system and a completely digital money.
 It is the first decentralized peer-to-peer payment network that is powered
its users with no central authority or middlemen.
 From a user perspective, Bitcoin is pretty much like cash for the Internet.
Who created Bitcoin
Bitcoin is the first "cryptocurrency", which was first described in 1998 by Wei Dai,
suggesting the idea of a new form of money that uses cryptography to control its
creation and transactions, rather than a central authority.
The first Bitcoin specification and proof of concept was published in 2009 by Satoshi
Nakamoto.
he did not control Bitcoin. As such, the identity of Bitcoin's inventor is probably as
relevant today as the identity of the person who invented paper.
Who controls the Bitcoin network?
 Nobody control the Bitcoin.
 Bitcoin is controlled by all Bitcoin users around the
world.
How does Bitcoin work
From a user perspective, Bitcoin is nothing more than a mobile app or
computer program that provides a personal Bitcoin wallet and allows a user to
send and receive bitcoins with them. This is how Bitcoin works for most users.
Behind the scenes, the Bitcoin network is sharing a public ledger called the
"block chain". This ledger contains every transaction ever processed, allowing a
user's computer to verify the validity of each transaction.
a digital ledger in which transactions made in bit coin or another cryptocurrency are
recorded chronologically and publicly.
blockchain
Is Bitcoin really used by people
Yes. There are a growing number of businesses and individuals using Bitcoin. This
includes brick-and-mortar businesses like restaurants, apartments, and law firms, as
well as popular online services such as Namecheap, Overstock.com, and Reddit.
How does one acquire bitcoins
 As payment for goods or services.
 Purchase bitcoins at a Bitcoin exchange.
 Exchange bitcoins with someone near you.
 Earn bitcoins through competitive mining.
How are bitcoins created
New bitcoins are generated by a competitive and decentralized process called
"mining".
Bitcoin miners are processing transactions and securing the network using
specialized hardware and are collecting new bitcoins in exchange.
total of 21 million bitcoins in existence. At this point
What determines bitcoin’s price
The price of a bit coin is determined by supply and demand. When demand for
bitcoins increases, the price increases, and when demand falls, the price falls.
Why do bitcoins have value
Bitcoins have value because they are useful as a form of money.
what is bitcoin, its history and detail
what is bitcoin, its history and detail
what is bitcoin, its history and detail

More Related Content

What's hot

Bitcoin: The Internet of Money
Bitcoin: The Internet of MoneyBitcoin: The Internet of Money
Bitcoin: The Internet of Moneywinklevosscap
 
How does blockchain work
How does blockchain workHow does blockchain work
How does blockchain workShishir Aryal
 
Bitcoin presentation slides
Bitcoin presentation slidesBitcoin presentation slides
Bitcoin presentation slidesAhmad Asad
 
Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...
Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...
Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...Edureka!
 
Cryptocurrencies and Blockchain technology
Cryptocurrencies and Blockchain technologyCryptocurrencies and Blockchain technology
Cryptocurrencies and Blockchain technologySabrina Kirrane
 
Blockchain Study(1) - What is Blockchain?
Blockchain Study(1) - What is Blockchain?Blockchain Study(1) - What is Blockchain?
Blockchain Study(1) - What is Blockchain?Fermat Jade
 
Blockchain
BlockchainBlockchain
BlockchainSai Nath
 

What's hot (20)

Bitcoin: The Internet of Money
Bitcoin: The Internet of MoneyBitcoin: The Internet of Money
Bitcoin: The Internet of Money
 
How does blockchain work
How does blockchain workHow does blockchain work
How does blockchain work
 
BITCOIN- A Presentation.
BITCOIN- A Presentation.BITCOIN- A Presentation.
BITCOIN- A Presentation.
 
Bitcoin presentation slides
Bitcoin presentation slidesBitcoin presentation slides
Bitcoin presentation slides
 
Bit coin presentation
Bit coin presentationBit coin presentation
Bit coin presentation
 
Blockchain
BlockchainBlockchain
Blockchain
 
Introduction Bitcoin
Introduction BitcoinIntroduction Bitcoin
Introduction Bitcoin
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
BITCOIN EXPLAINED
BITCOIN EXPLAINEDBITCOIN EXPLAINED
BITCOIN EXPLAINED
 
Bitcoin School Project
Bitcoin School ProjectBitcoin School Project
Bitcoin School Project
 
Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...
Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...
Blockchain Explained | Blockchain Simplified | Blockchain Technology | Blockc...
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
BLOCKCHAIN
BLOCKCHAINBLOCKCHAIN
BLOCKCHAIN
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
All About Ethereum
All About EthereumAll About Ethereum
All About Ethereum
 
Bitcoin - the Basics
Bitcoin - the BasicsBitcoin - the Basics
Bitcoin - the Basics
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Cryptocurrencies and Blockchain technology
Cryptocurrencies and Blockchain technologyCryptocurrencies and Blockchain technology
Cryptocurrencies and Blockchain technology
 
Blockchain Study(1) - What is Blockchain?
Blockchain Study(1) - What is Blockchain?Blockchain Study(1) - What is Blockchain?
Blockchain Study(1) - What is Blockchain?
 
Blockchain
BlockchainBlockchain
Blockchain
 

Similar to what is bitcoin, its history and detail

Bitcoin-THINGS YOU WANT TO KNOW
Bitcoin-THINGS YOU WANT TO KNOWBitcoin-THINGS YOU WANT TO KNOW
Bitcoin-THINGS YOU WANT TO KNOWJustin Cherian
 
Study on Bitcoin
Study on BitcoinStudy on Bitcoin
Study on BitcoinKetanNaik16
 
Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02Mayuresh Singh
 
The complete guide to bitcoin and how it is redefining the future of money an...
The complete guide to bitcoin and how it is redefining the future of money an...The complete guide to bitcoin and how it is redefining the future of money an...
The complete guide to bitcoin and how it is redefining the future of money an...SameerShaik43
 
BITCOIN TECHNOLOGY(AAappZZ)
BITCOIN TECHNOLOGY(AAappZZ)BITCOIN TECHNOLOGY(AAappZZ)
BITCOIN TECHNOLOGY(AAappZZ)Arun Nair
 
BITCOIN GLOBAL DIGITAL CURRENCY
BITCOIN GLOBAL DIGITAL CURRENCYBITCOIN GLOBAL DIGITAL CURRENCY
BITCOIN GLOBAL DIGITAL CURRENCYpankaj8108
 
Bitcoin (Global Digital Currency)
Bitcoin (Global Digital Currency) Bitcoin (Global Digital Currency)
Bitcoin (Global Digital Currency) Paramkusa K
 
Early Retirement Club at Bitcoinsiders!
Early Retirement Club at Bitcoinsiders!Early Retirement Club at Bitcoinsiders!
Early Retirement Club at Bitcoinsiders!bit3coin3siders
 
What Is Bitcoin and Cryptocurrency.pdf
What Is Bitcoin and Cryptocurrency.pdfWhat Is Bitcoin and Cryptocurrency.pdf
What Is Bitcoin and Cryptocurrency.pdfbitofbil
 
Bitcoin: The Pioneer of Cryptocurrencies
Bitcoin: The Pioneer of CryptocurrenciesBitcoin: The Pioneer of Cryptocurrencies
Bitcoin: The Pioneer of CryptocurrenciesOwen Hart
 
Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017A P
 
IMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docxIMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docxMuskanRath1
 
Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)AJSH & Co LLP
 

Similar to what is bitcoin, its history and detail (20)

Bitcoin-THINGS YOU WANT TO KNOW
Bitcoin-THINGS YOU WANT TO KNOWBitcoin-THINGS YOU WANT TO KNOW
Bitcoin-THINGS YOU WANT TO KNOW
 
Study on Bitcoin
Study on BitcoinStudy on Bitcoin
Study on Bitcoin
 
Understanding Bitcoin
Understanding BitcoinUnderstanding Bitcoin
Understanding Bitcoin
 
Bitcoin technology
Bitcoin technologyBitcoin technology
Bitcoin technology
 
Bitcoin(eng)
Bitcoin(eng)Bitcoin(eng)
Bitcoin(eng)
 
Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02
 
The complete guide to bitcoin and how it is redefining the future of money an...
The complete guide to bitcoin and how it is redefining the future of money an...The complete guide to bitcoin and how it is redefining the future of money an...
The complete guide to bitcoin and how it is redefining the future of money an...
 
BITCOIN TECHNOLOGY(AAappZZ)
BITCOIN TECHNOLOGY(AAappZZ)BITCOIN TECHNOLOGY(AAappZZ)
BITCOIN TECHNOLOGY(AAappZZ)
 
BitCoin report
BitCoin reportBitCoin report
BitCoin report
 
BITCOIN GLOBAL DIGITAL CURRENCY
BITCOIN GLOBAL DIGITAL CURRENCYBITCOIN GLOBAL DIGITAL CURRENCY
BITCOIN GLOBAL DIGITAL CURRENCY
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Bitcoin (Global Digital Currency)
Bitcoin (Global Digital Currency) Bitcoin (Global Digital Currency)
Bitcoin (Global Digital Currency)
 
Early Retirement Club at Bitcoinsiders!
Early Retirement Club at Bitcoinsiders!Early Retirement Club at Bitcoinsiders!
Early Retirement Club at Bitcoinsiders!
 
What Is Bitcoin and Cryptocurrency.pdf
What Is Bitcoin and Cryptocurrency.pdfWhat Is Bitcoin and Cryptocurrency.pdf
What Is Bitcoin and Cryptocurrency.pdf
 
Bitcoins
BitcoinsBitcoins
Bitcoins
 
Bitcoin: The Pioneer of Cryptocurrencies
Bitcoin: The Pioneer of CryptocurrenciesBitcoin: The Pioneer of Cryptocurrencies
Bitcoin: The Pioneer of Cryptocurrencies
 
Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017
 
IMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docxIMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docx
 
Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)
 
Bitcoin
BitcoinBitcoin
Bitcoin
 

More from Self-employed

fundamental Roles of Information System
fundamental Roles of Information Systemfundamental Roles of Information System
fundamental Roles of Information SystemSelf-employed
 
Theory of constraints and its types
Theory of constraints and its typesTheory of constraints and its types
Theory of constraints and its typesSelf-employed
 
Network Topology and it's types Star topology, Ring topology, Bus topology an...
Network Topology and it's types Star topology, Ring topology, Bus topology an...Network Topology and it's types Star topology, Ring topology, Bus topology an...
Network Topology and it's types Star topology, Ring topology, Bus topology an...Self-employed
 
Stereotypes, Prejudice and Discrimination in Psychology
Stereotypes, Prejudice and Discrimination in PsychologyStereotypes, Prejudice and Discrimination in Psychology
Stereotypes, Prejudice and Discrimination in PsychologySelf-employed
 
General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...
General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...
General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...Self-employed
 
GDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATOR
GDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATORGDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATOR
GDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATORSelf-employed
 

More from Self-employed (6)

fundamental Roles of Information System
fundamental Roles of Information Systemfundamental Roles of Information System
fundamental Roles of Information System
 
Theory of constraints and its types
Theory of constraints and its typesTheory of constraints and its types
Theory of constraints and its types
 
Network Topology and it's types Star topology, Ring topology, Bus topology an...
Network Topology and it's types Star topology, Ring topology, Bus topology an...Network Topology and it's types Star topology, Ring topology, Bus topology an...
Network Topology and it's types Star topology, Ring topology, Bus topology an...
 
Stereotypes, Prejudice and Discrimination in Psychology
Stereotypes, Prejudice and Discrimination in PsychologyStereotypes, Prejudice and Discrimination in Psychology
Stereotypes, Prejudice and Discrimination in Psychology
 
General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...
General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...
General Journal, General ledger, General Entry, Double Entry Rule, Solved Exa...
 
GDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATOR
GDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATORGDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATOR
GDP, GNP, NNP, NDP, REAL GDP, NOMINAL GDP, GDP DEFLATOR
 

Recently uploaded

Technical Leaders - Working with the Management Team
Technical Leaders - Working with the Management TeamTechnical Leaders - Working with the Management Team
Technical Leaders - Working with the Management TeamArik Fletcher
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdfShaun Heinrichs
 
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfDarshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfShashank Mehta
 
Jewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreJewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreNZSG
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfJamesConcepcion7
 
Exploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your VicinityExploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your VicinityThe Spanish Group
 
Healthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare NewsletterHealthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare NewsletterJamesConcepcion7
 
GUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdf
GUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdfGUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdf
GUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdfDanny Diep To
 
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...PRnews2
 
Fundamentals Welcome and Inclusive DEIB
Fundamentals Welcome and  Inclusive DEIBFundamentals Welcome and  Inclusive DEIB
Fundamentals Welcome and Inclusive DEIBGregory DeShields
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsKnowledgeSeed
 
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxGo for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxRakhi Bazaar
 
MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024Chandresh Chudasama
 
Send Files | Sendbig.comSend Files | Sendbig.com
Send Files | Sendbig.comSend Files | Sendbig.comSend Files | Sendbig.comSend Files | Sendbig.com
Send Files | Sendbig.comSend Files | Sendbig.comSendBig4
 
digital marketing , introduction of digital marketing
digital marketing , introduction of digital marketingdigital marketing , introduction of digital marketing
digital marketing , introduction of digital marketingrajputmeenakshi733
 
Planetary and Vedic Yagyas Bring Positive Impacts in Life
Planetary and Vedic Yagyas Bring Positive Impacts in LifePlanetary and Vedic Yagyas Bring Positive Impacts in Life
Planetary and Vedic Yagyas Bring Positive Impacts in LifeBhavana Pujan Kendra
 
Types of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfTypes of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfASGITConsulting
 
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdftrending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdfMintel Group
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsIndiaMART InterMESH Limited
 

Recently uploaded (20)

Technical Leaders - Working with the Management Team
Technical Leaders - Working with the Management TeamTechnical Leaders - Working with the Management Team
Technical Leaders - Working with the Management Team
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf
 
Authentically Social - presented by Corey Perlman
Authentically Social - presented by Corey PerlmanAuthentically Social - presented by Corey Perlman
Authentically Social - presented by Corey Perlman
 
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfDarshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
 
Jewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreJewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource Centre
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdf
 
Exploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your VicinityExploring Elite Translation Services in Your Vicinity
Exploring Elite Translation Services in Your Vicinity
 
Healthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare NewsletterHealthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare Newsletter
 
GUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdf
GUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdfGUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdf
GUIDELINES ON USEFUL FORMS IN FREIGHT FORWARDING (F) Danny Diep Toh MBA.pdf
 
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
Introducing the AI ShillText Generator A New Era for Cryptocurrency Marketing...
 
Fundamentals Welcome and Inclusive DEIB
Fundamentals Welcome and  Inclusive DEIBFundamentals Welcome and  Inclusive DEIB
Fundamentals Welcome and Inclusive DEIB
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applications
 
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptxGo for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
Go for Rakhi Bazaar and Pick the Latest Bhaiya Bhabhi Rakhi.pptx
 
MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024
 
Send Files | Sendbig.comSend Files | Sendbig.com
Send Files | Sendbig.comSend Files | Sendbig.comSend Files | Sendbig.comSend Files | Sendbig.com
Send Files | Sendbig.comSend Files | Sendbig.com
 
digital marketing , introduction of digital marketing
digital marketing , introduction of digital marketingdigital marketing , introduction of digital marketing
digital marketing , introduction of digital marketing
 
Planetary and Vedic Yagyas Bring Positive Impacts in Life
Planetary and Vedic Yagyas Bring Positive Impacts in LifePlanetary and Vedic Yagyas Bring Positive Impacts in Life
Planetary and Vedic Yagyas Bring Positive Impacts in Life
 
Types of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdfTypes of Cyberattacks - ASG I.T. Consulting.pdf
Types of Cyberattacks - ASG I.T. Consulting.pdf
 
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdftrending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
trending-flavors-and-ingredients-in-salty-snacks-us-2024_Redacted-V2.pdf
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan Dynamics
 

what is bitcoin, its history and detail

  • 2. What is Bitcoin  Bitcoin is a new payment system and a completely digital money.  It is the first decentralized peer-to-peer payment network that is powered its users with no central authority or middlemen.  From a user perspective, Bitcoin is pretty much like cash for the Internet.
  • 3. Who created Bitcoin Bitcoin is the first "cryptocurrency", which was first described in 1998 by Wei Dai, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 by Satoshi Nakamoto. he did not control Bitcoin. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.
  • 4. Who controls the Bitcoin network?  Nobody control the Bitcoin.  Bitcoin is controlled by all Bitcoin users around the world.
  • 5. How does Bitcoin work From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users. Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction.
  • 6. a digital ledger in which transactions made in bit coin or another cryptocurrency are recorded chronologically and publicly. blockchain
  • 7. Is Bitcoin really used by people Yes. There are a growing number of businesses and individuals using Bitcoin. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap, Overstock.com, and Reddit.
  • 8. How does one acquire bitcoins  As payment for goods or services.  Purchase bitcoins at a Bitcoin exchange.  Exchange bitcoins with someone near you.  Earn bitcoins through competitive mining.
  • 9. How are bitcoins created New bitcoins are generated by a competitive and decentralized process called "mining". Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange. total of 21 million bitcoins in existence. At this point
  • 10. What determines bitcoin’s price The price of a bit coin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls.
  • 11. Why do bitcoins have value Bitcoins have value because they are useful as a form of money.