How to determine bitcoin by simple words? This new
generation of the decentralized digital currency created and working only on the
Internet. Nobody controls her, issue of currency happens by means of work of
millions of computers to use of the program for calculation of mathematical
algorithms worldwide. The bitcoin essence consists in it.
What differences at him from traditional electronic money,
such how Yandex.Money, WebMoney, QIWI?
For bitcoins it is also possible to buy anything on the
Internet as for dollars, euro or rubles, and it also bargains at the exchanges.
The most important difference of bitcoin from all other forms of money —
decentralization. Any organization in the world does not control bitcoin. In
respect of independence it is plus, but at some such situation can arouse
mistrust.
Who created bitcoin?
The developer of the program calls himself Satoshi Nakamoto (Satoshi
Nakamoto), he offered the electronic payment service provider based on
mathematical calculations. The idea consisted in conducting exchange of coins
without the centralized control, in electronic form, more or less instantly and
with the smallest costs. In more detail about the one who to such Satoshi of
Nakamoto, read in our article.
But who prints bitcoins?
ANYBODY. This currency is not printed by Central Bank and
does not work by his rules. Banks can issue some money to meet a public debt,
thereby depreciating the currency.
On the contrary, issue of bitcoins is possible only in a digital form, and
anyone can begin to get, or as speak, to maynit bitcoins at any time. The Mining
of bitcoins happens by means of use of computing capacities of the computer in
the distributed network. At transfer of bitcoins of transaction are processed by
the same network, turning bitcoin into an independent digital payment service
provider. In more detail about a mining of bitcoins — in our article.
Whether it is possible to extract one billion bitcoins?
It is impossible. In a code of bitcoin there is a restriction:
it is possible to extract at most 21 million bitcoins. At the same time the
bitcoin can be divided indefinitely into smaller parts — same digital currency!
One Satoshi (it is called in honor of the creator of this cryptocurrency) is
0.00000001 btc.
What provided bitcoin?
National currencies were provided with gold or silver, now
earlier — GDP. Theoretically you could come to any bank of the country and
exchange the paper money for an equivalent in gold and back. The bitcoin is not
provided with anything, it is a pure mathematics.
Any person can start a script on production of bitcoins at himself on the
computer worldwide and feel the Central Bank in a miniature. The source code of
a script is published in open form, everyone can look how he works.
What features of bitcoin?
Basic features at bitcoin a little. Read about them below.
Decentralization
The central control authority at bitcoin network does not
exist: she is distributed on all participants, and each computer extracting
bitcoins is an equal participant of this system. It means that no central body
has an opportunity to dictate rules to owners of bitcoins as, let us assume, it
was at the beginning of 2013 in Cyprus. And even if some part of network will
become offline, payment service provider will continue to work steadily.
Usability
To open the settlement account for firm in our banks, it is
necessary to pass seven circles of hell. As a result can refuse to you without
explanation. With bitcoin it is possible to forget about such problem: you need
five minutes to create bitcoin purse and at once to begin to use it. Without
questions, without the commissions. In more detail how to create bitcoin purse,
read in our article.
Anonymity
Yes. It is completely anonymous and at the same time
completely transparent. You can create infinite number bitcoin addresses without
binding to a name, the address or any other information. However …
Transparency
The bitcoin stores all history of transactions which ever
took place. It is called a consecutive chain of blocks, or a blockchain. The
blockchain knows everything. Therefore if you have publicly used bitcoin address,
then anyone can look how many bitcoins at you on the account. Nobody learns that
the address belongs to you if you do not report about it. Those who want
complete anonymity usually use new bitcoin address for each transaction.
The commission it is insignificant it is small
Your bank can quietly write off $50 of the commission for
international transfer. The bitcoin — is not present.
Transfer speed
It is possible to send money anywhere and to anyone. They
will reach in only a few minutes after the bitcoin network processes payment.
Irrevocable transactions
After sending bitcoins the addressee cannot return them if
the recipient himself does not want to make it.
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