What is bitcoin and how has it been created?
Bitcoin is a virtual currency that reaches a lot of fame and prosperity with a high rate of 13 thousand dollars in early 2018.
What is bitcoin and how has it been created?
What is Bitcoin?
Bitcoin is a virtual currency that reaches a lot of fame and prosperity with a high rate of 13 thousand dollars in early 2018. Bitcoin was a combination of creativity, leaving behind legal barriers and pushing intermediaries in various financial and banking matters that make financial transactions at an international level possible. For this reason, in a short period, it was able to attract a lot of attention. After bitcoin, many foot cryptocurrencies were born that had similar features as Bitcoin. Cryptocurrencies or cryptocurrencies have tremendous features and capacities, and that's why they have found a great reputation with the passage of about 10 years of market work. Various cryptocurrencies such as Bitcoin are active in a large network platform, called the blockchain.
This network has many users, and it is not possible to manipulate and capture its data. The widespread, large number of users, the lack of possibility of abuse and fraud in the network, and the lack of an observer on the network make it a free and effective environment for communication activities in various domains. In more accurate terms, Bitcoin is working in a decentralized block chain-China network.
What is bitcoin's definition?
Bitcoin and other cryptocurrencies are lines of computer passwords that have a monetary value. These lines of encryption are produced with strong computers and high electrical energy consumption. The cryptocurrencies are also called digital currency. These currencies are a form of digital money that is created with complex mathematical calculations. You might be asked to ask the meaning of the care blanket in the cryptocurrencies word and where it comes from. This word has been taken from Krabetogarvi.
Krabetogarvi is said to be a process to protect the creation of new coins. The important thing about Bitcoin and similar currencies is the lack of central oversight of them. In better words, no government, entity, and organ are monitored on these currencies and are completely free, censored, and ineffective in a network platform.
Various governments in different countries still do not know what to react to bitcoin and their time. Some of them take action to ban and remove it and others in uncompromising to understand it better and take advantage of the features and capacities that it has.
Who is the creator of Bitcoin?
Cryptocurrency Bitcoin is the first digital currency introduced in the world. This cryptocurrency, by a genius programmer with an unknown identity, aka Satoshi Nakamoto (Satoshi Nakamoto) for the first time in October 2008, the article titled "Bitcoin; Money system Peer electronic was introduced to peer.
Nakamoto this article was sent via email to members of the Crypto society. This article did not bring much attention to it, as it is not Nakamoto in the crypto circles, and the second issue published by Nakamoto, has already been repeatedly in different forms, Had been raised by some experts in computer science and economics.
But Nakamoto was not only a Sunni idea. About two months later, Nakamoto announced the launch of the first version of Bitcoin software. Any interest would be able to download this software and to use it.
In the early days of unveiling this network, Bitcoin was used only by the experts of the Crypto sphere. But after a few months and in 2009, Bitcoin was made available to the public in open-source software. Open-source software or source is said to the software that different people can make changes to the source codes or resolve the possible bugs.
So Satoshi Nakamoto launched a network of the network, and he was not a continuation of his way, and no one and nothing is going forward.
Because the Bitcoin network is at the same time as transparent, based on privacy and confidentiality of the users ' identity, it is still more than 11 years since the birth of Bitcoin, a nonconeuroprotective identity for Interested in the field of cryptocurrencies is in a halo of ambiguity.
Do you know the history of Bitcoin?
Bitcoin is the first digital currency and no one knows the manufacturer of that cyst. Most digital currencies are produced silently. For example, it is said that the manufacturer of a bitcoin is a person named Satoshi Nakamoto (Satoshi Nakomoto). It is not clear that Satoshi is truly a person, or a group of people under this name, have attempted to produce bitcoins.
After Bitcoin is a cryptocurrency to the world, there is no other news from Satoshi. After this cryptocurrency, different cryptocurrencies such as Litecoin, Ethereum, and... Are introduced to the world.
One of the main benefits of Bitcoin is that it can be stored in offline mode on secure hardware. In this case, cold storage is said. There will be no possibility to steal bites coins and cryptocurrencies despite cold storage. Cold storage is located in front of hot storage. Heat storage is a form of storage, where data is stored on the Internet, as a result, it can be stolen.
Why is bitcoin so controversial?
Several reasons are involved in the reputation of bitcoin and its synergy. For example, from 2011 to 2013, the activities of criminals and statutes with Bitcoin have led to the reputation of this digital currency. With the help of this digital currency, they tracked their criminal activities away from the eyes of observers and the law.
Another important point was that the actions of It's a dispute. in this context were the absence of government oversight and the taxation of assets in the block chain-China platform.
As stated earlier, Governments have not yet been able to formulate coherent laws in the realm of digital currencies, and therefore, topics such as receiving taxes about Bitcoin and its time Not be raised. The scam is also one of the reasons that the name of the currency is raised in the world.
The cams are the same traps that are in the forms justified by the way users are especially newcomers or Navard to give them the pretext of achieving profits in the world of digital currencies, the telwho Follow. Since the Chinese block is a platform where the transaction cryptocurrencies can establish an intermediary relationship between individuals, there is no need for intermediaries such as banks and financial institutions. Will be. As a result, this factor is another reason for digital currencies such as Bitcoin has reached a great reputation.
How does bitcoin work?
As stated earlier, Bitcoin is a digital currency that is capable of exchanging and transactions without the need for intermediaries and banks. With Bitcoin, there's gold. That is, bitcoins like gold are worth and can trade.
Some retail and business businesses will consider Bitcoin as a means of payment. Bitcoins are placed in digital wallets after exchanging. Each digital wallet is a small database that users store on their computer systems, smartphones, and tablets. The various users who are present on the blockchain network are called nodes, and any transaction that takes place in the blockchain network is confirmed to approve all the nodes or the same users. Due to this feature, the possibility of changes to the data or the person cheating and fraud will be very low.
Bitcoin and the threat are threatened or have an opportunity?
Bitcoin and other cryptocurrencies are a tool that has a lot of capacity. If you look at the keyword tool here, you'll notice that cryptocurrencies can create very positive or inside capacities in the world. Because they are a tool for transactions on the World of Commerce, taxes, and economics, it is based on the use and practices that can be judged on their positive or negative. They are the most inherent means for generating positive or negative benefits in the world. These are users and countries that specify this to be positive or negative.
What is a Bitcoin bankroll?
In the past, the money released by any government was supported by expensive metals, especially gold. Indeed the value of a banknote or coin in a country by the gold stored in the reservoirs of the central bank was determined.
This means that a certain amount of gold was considered as a bankroll. So it can be concluded that the banknote is not valued in itself and is merely a piece of paper and its value is not for itself, but because of its backing.
However, today, the amount of money released with the amount of saved gold is not equal, and most, the credibility of governments in international societies is considered as the bankroll of a currency.
Indeed, inflation is born from the heart of the same-backed money. Reducing the percentage of national money backed by a bankroll is called inflation for the percentage of money created. With the release of money backed, the value, and the power to buy every currency you have been reduced over time.
But Bitcoin is digital money that, unlike the international currency, lacks any kind of physical backing, and its value depends solely on itself and the amount of popularity among people.
Advantages of Bitcoin
For exchange or savings of Bitcoin cryptocurrency, you do not need any bank. You can easily buy with Bitcoin or save it in the hope of increasing the price in the future.
Although Bitcoin initially emerged with the purpose of everyday public use in trading, its amazing price increase has caused this cryptocurrency more as a safe asset, such as gold to work And the majority of people have bought it into the eye of long-term savings.
Cryptocurrency Bitcoin is also valuable for itself as a gold coin for it. However, Bitcoin has other advantages over gold. Bitcoin's division, rapid liquidity, and lack of need for physical protection and asset transfer can be considered in the shortest possible time as some of this superiority.
Why can bitcoin be trusted?
The Bitcoin cryptocurrency network is no-Maliki and is not under the control of any person, entity, or government. Just onscreen no personal air owner! In the Bitcoin network, all users are connected to the network from around the world and control it as a shared and collective.
Network developers, although the instructions are improved, the change is not possible in the main Bitcoin protocol.
People trust Bitcoin because everything is completely transparent, lawful, automated, without delay, and under the supervision of millions of users and does not need a trust.
Bitcoin is completely open-source and decentralized. This means that every person of interest may have access to the network source code whenever it is available. So each developer can carefully study how bitcoin and network work is nothing to hide.
All transactions are carried out without the need for a trusted third party and by a person. People can be assured that a transaction is completely correct. Because a copy of all network transactions is available to all users who are not tampered with.
Total number of Bitcoins
Bitcoin has a limit of 21 million units, which means that there is no longer possible to extract bitcoins after extracting these 21 million coins. It is worth mentioning more than 18.2 million Bitcoins have been extracted.
Maybe there are so many questions in your mind. For example, what does the Bitcoin wallet mean? How do bitcoin cryptocurrency transactions do or what is the value of Bitcoin? The more we will answer all your questions. So follow us up to the end of this article.
Every cryptocurrency bitcoin is comprised of a smaller unit called Satoshi. Every bitcoin is equivalent to 100 million Satoshi. And this disclosure is one of the advantages of Bitcoin towards gold.
How the Bitcoin value is determined
The value of Bitcoin is still not fixed and changes daily and is fluctuating. Bitcoins such as gold, stocks, and many assets are priced according to the amount of supply and demand. The higher the number of sellers, the price of the bitcoin is reduced, and if the amount of the demand rises, the price will also be bullish.
Therefore, the price of bitcoin is not fixed and the value of that day is in different exchanges and brokerage. To see the real Bitcoin price in global markets, you can refer to the Coinmarketcap reference website.
We noted that Bitcoin has a limit of 21 million units, and after extracting these 21 million coins, there is no longer possible to extract bitcoins.
There are currently billions of bitcoins in the world. Every day, some bitcoin is produced and added to the circulating Bitcoin cycle, so that approximately 2040 of the number of Bitcoins in the market will be nearly 21 million units.
A Bitcoin cryptocurrency extraction process has a distinctive pattern and algorithm. Bitcoins are produced and supplied in the form of a package or to modify the block.
According to the above image, in the early days of Bitcoin production, each block included 50 bitcoins. But this trend changes according to the following pattern and after extracting every 210 thousand blocks, the amount of the extracted bitcoins will be reduced to half.
Due to the number of bitcoins being extracted every 4 years and after the extraction of each 210, 100,000 blocks are reduced to half, so mining of the last Bitcoin will take about 2140.
In simpler, in the first 210 thousand blocks, 50 of the developmental rewards were given to the extraction of each block. This means that in the first four years of Genesis, the cryptocurrency million bitcoins have been extracted.
10, 500, 000 = 50 * 210
In the second 4 years and by reducing the income of the Mayan, to extract the second 210 thousand blocks, it is considered a 25-developmental reward for extracting each block for extracting this cryptocurrency. Thus, until the end of the eighth year, 1.5 million other bitcoins were extracted and the total number of mines of mine reached 50,000 million units.
5, 250, 000 = 25 * 210, 000
In the third four years of the genesis of Bitcoins, the reward of the mammals is considered for the extraction of each block equal to 3.5 billion, and in this period, a total of 2 million and 625 thousand Bitcoins is extracted. In the next period, the bonus is reduced to 6.0 units to extract each block.
2.625 = 12.7 *, 000
So with this account until the end of the third 4 years, 18 million and 375 thousand Bitcoins will be extracted, but, according to what is mentioned earlier, the continuous reduction of the rewards of the miners causes the extraction of the latest Bitcoins to continue until the year 2140. It is worth mentioning that more than 18.2 million Bitcoins have been extracted.
18, 375, 000 = 2, 625, 000 + 5, 250, 000 + 10, 500, 000
It is anticipated that by reducing the extraction bonus and reducing the supply of these cryptocurrencies, we will see the price increase of bitcoin as the last period. At the time of writing this article, every bitcoin is priced at around 6000 dollars.
Bitcoin has a decentralized model and has no expensive metals as a bankroll. No central bank or financial or economic institution in the world will support it and no insurance will cover any damage caused by its fluctuations. The value of Bitcoin depends solely on itself and its popularity among the community.
The Bitcoin cryptocurrency network is preserved by the miners or the same miners. There is a wide network of users around the world who have given the processing of their computer to the Bitcoin network.
They indeed may play an auditor's role for Bitcoin network transactions and the entire office will update the digital currency that contains any transaction information. This activity will not be without a reward and they will receive some bitcoin as a fee for the amount of work they are doing.
Again, we repeat that the number of all Bitcoins can be extracted by only 21 million units. So when all these bitcoins are extracted, Bitcoin is not produced.
Compared to traditional currencies that are constantly being published by Governments, this is a great advantage. Central banks around the world with more than enough money-backing print will cause inflation. Uncontrolled swelling reduces the value of a currency and the lower the power to buy people.
But it does not mean to cryptocurrency bitcoin devaluation in the long term. As far as we go forward, extracting it more difficult and Bitcoin becomes more depleted. However, the value of bitcoins increases by increasing the user's increase and demand.
The above description described a corner of the extraction mechanism and how to reward the Bitcoin network. If you continue to be interested in to learn more about this, then what is the price of the Bitcoin mining bonus and what effect on the prices of this cryptocurrency,
The total volume of the Bitcoin market and other cryptocurrencies
Since cryptocurrency the first digital currency has introduced to the world, the other cryptocurrencies created after it was called "Kevin (Altcoin)" or "Substitute coin". Litecoin, Monroe, Xie Cache, Ethereum, and hundreds of other coins are all digital currencies called Kevin.
The data suggest that more than 5000 different Kevin's have been introduced to the cryptocurrencies market today.
The total volume of the exchange market at the time of writing this article is something more than 262 billion dollars. Interestingly, following the above image, Bitcoin cryptocurrency alone has more than 60% of the total volume of the capital of the Cryptocurrencies market and a total of 5000 other bitcoins, altogether less than 40% of the market's capital.
Therefore, from the perspective of the emergence of the genesis and the perspective of the amount of capital in the market, Bitcoin is referred to as the king of the cryptocurrencies.
Bitcoin transaction's structure
Before anything, it's good to know to use a mobile phone, you don't need to follow the process of making and producing it finely. Therefore, it does not require high technical knowledge to use Bitcoin. Simply use your wallet to send and receive digital assets. The complementary description is only for those who are interested to gain more information about the structure of this digital currency and to know what Bitcoin is exactly and how it works.
What is a bitcoin block?
Every bitcoin transaction has a compact file that records information about it. The total of these files is called blockchain or the blockchain on the Bitcoin network. Each Bitcoin block is currently scheduled to have an average storage capacity of 1 MB of information.
1 MB is equal to 1 million bytes. Each bitcoin transaction is an average of a low volume file of 230 to 250 bytes. Thus, in every 1 MB bitcoin block, bitcoins can be recorded and stored on an average of 4200 transactions.
All information about the production of bitcoins and transactions in the heart of these blocks and in an entire decentralized office, which is available to all members of the network, is recorded and retained forever.
That is, when Bitcoin cryptocurrency is migrated, you declare to all network users that some bitcoin cryptocurrency will be deducted from your account and added to the recipient's account. The same or millions of CPU computers on the network will record and record your transaction profile in digital offices.
Thus, the network can be assured of the transaction correctly, and no one can use a bitcoin cryptocurrency in two places. This account is intended to be the front of a scam and fraud in the transactions.
In conducting a formative transaction, following the above image, the network address, or the public key of the sender's wallet and also address the recipient's money with the amount of transaction and some other details in the Blockchain is registering.
Thus, the correct bitcoin transaction is determined in digital form. This means that this transaction will still be recorded without the name of any real data of the sender and the recipient and with the privacy of the user.
While other users can't find your true identity, they can view the history of the wallet and all the transactions you have done. This is useful in this direction which will cause transparency as well as the security of the network.
How long do a transaction on the Bitcoin network
The period for a bitcoin transaction is dependent on two main factors. The first factor, traffic, and volume of transactions on the network is the second case, the amount of commission you pay to register for this transaction.
Sometimes, thousands of bitcoin transactions may be performed in a single-cone. But the Bitcoin network still works with various restrictions. Bitcoin will be able to record nearly 7 transactions per second. This is while Ethereum handles 15 transactions per second, and manages a cryptocurrency-like ripple, 1500 transactions at this time.
So when thousands of bitcoin transactions are performed, an expected queue is formed. This queue of transactions is called Mempool.
When a transaction is created, it is expected to be in this queue until the final confirmation period. Approximately every 10 minutes of a Bitcoin block are closed and the transaction information in this queue is recorded and recorded in the new block. As we mentioned above, every 10 minutes, only about 4200 transactions will be performed.
For example, for better understanding, you can consider a highway in which every 10 minutes, only 4200 cars can use the highway to move with the toll.
Sometimes, the traffic behind these symptoms may be very heavy, and we will wait more time to cross this station, and sometimes they may face less volume of vehicles. And we can easily continue with the payment of complications.
But in the Bitcoin network, there is a shortcut way to bypass these symptoms. You will pay more commissions for your transaction registration, and they select the transaction outside the turn and place them in the last block of the Bitcoin network to be promptly verified. Therefore, it is always a priority with transactions that pay more fees.
So it can be concluded that if there is a very little commission to do a transaction, it may be that every time they want the transaction to be confirmed in the last block, the transaction Due to low levels of Her fee is not considered a priority and is pushed back.
Therefore, confirmation of a transaction with a very low commission may take a few days or even never do so. Therefore, to register a transaction, a minimum commission is recommended by your wallet, depending on the extent of the network's bustle.
So here's why the volume of each block is currently limited to 1 MB. Because the increase in block volume makes network traffic light.
With the style of network traffic, many users refrain from paying conventional fees, and lowering the number of fees causes the reward of my males to decrease. Therefore, reducing the reward of my males causes the extraction of bitcoins is no longer payload for them, and many of them shut down their devices and refrain from continuing their activities, and ultimately cause Network security is reduced and the network focus will go up with a smaller network.
Track Bitcoin transactions
Bitcoin has a transparent blockchain network that all transactions made from the first day of the network are traceable and tracked. Therefore, any user can track the history of a transaction from the origin to the current destination.
Unlike the banking system where the transaction details are very limited to the public, blockchain gives users a much more transparent level.
You need only one block checker to track transactions made to the Bitcoin network. Each user can search for transaction details based on Bitcoin addresses, block numbers, or transactions has. The following websites can be considered as the top block SEO:
Blockchain.com/Blockstream.Info/blockchair.com/btc.com
The transaction will certainly Your digital your concern over the transfer of assets. You can also give the recipient a transaction receipt to check the details.
What is the difference between banking transactions and Bitcoin transactions?
Information on bank transactions is stored and maintained only on a few centralized servers, and those who have access to these servers can check the account details of the subscribers thoroughly and Or change the information.
However, bitcoin transactions are distributed and maintained between all users of the network and thus, the possibility of manipulating and modifying data will be impossible. The identity of users on the Bitcoin network is not recognized as such.
Also, international transactions between multiple banks may take a few days, but bitcoin transactions will be completed within 10 minutes by completing each block.
How does bitcoin be created?
The pan here somewhat realized what Bitcoin is and how it works. Now it's time to find out how Bitcoin cryptocurrency is created?
What is bitcoin mining or mining corporation?
In response to this question, we have to say that any ordinary user or even you can generate bitcoins using a high processing computer and proper hardware. Cryptocurrency Bitcoin is produced in a process called Bitcoin Mining. The people who produce these coins are also called extractors or Miner (miners).
It was previously said that the people are monitoring the Bitcoin production process as well as conducting transactions. But we need to know that they do not do it for free, and instead of monitoring and operating in the network, they receive a reward that this reward is also some cryptocurrency bitcoin.
Onscreen above, whenever you send some bitcoins to someone else, the people are helping to verify your transaction by monitoring their activity and the network is also in exchange for their work. They reward some bitcoins from the receiving fees place.
So in the process of mining Corporation, three main works are done:
1. Verifying Network transactions
2. Maintaining network security
3. Extract new Bitcoins
For Bitcoin mining, you need to provide your computer with a special algorithm for resolving complex computer problems with the specific algorithmic network, which is called The proof of work is called a proven work. Each of these complex issues has a set of 64-digit possible answers.
Of course, you need to be careful that if you do not have powerful computer hardware and you are alone in Bitcoin mining, your consumption of electricity may be the cost of this income Will be greater. Bitcoin mining will be more advantageous when several miners are gathered in a single group and they put their hard ones together.
Interestingly, the need for powerful hardware and high cost of electricity is one of the things that the front of many attempts to disrupt the Bitcoin network and misusing and maintain Network security.
It should be mentioned that Bitcoin mining with CPU (CPU) or graphics card (GPU) is no longer a benefit, and it must be used for professional extraction from specific hardware called ASIC (ASIC).
Of course, you should note that the competition over the remaining Bitcoin mining has caused a more powerful ASIC to enter the market at some time. Newer ASIC has higher processing power than its previous generations. This leads to the profitability of old devices, gone down, and dropped out completely after a few years away.
What is the hardship of the bitcoin network?
In the past, every Mayan was able to extract bitcoins alone. But with the passage of time and the number of miles, it has gone to increase the hardship of the Bitcoin network. Network hardness is a controlling factor for extracting blocks. It's easier to say that the network's hardness is the amount of time a miner can extract a block and start the next block for the extraction process.
Network hardness is planned to extract a block of Bitcoins that will always take 10 minutes. So, if the number of miles rises even to 100 times, the extraction speed is no change. But by increasing the network's hardest, finding the answer of each block gets more difficult and thus 10 minutes of extraction of each block is fixed and the reward of each block, which is the constant value and the higher it talks about We've been divided into a lesser extent between more.
Therefore, we found that increasing the network's hardness causes the amount of income to be reduced and thus Bitcoin mining is not payload for some of the males. This can cause a group of their devices to shut down. Turning off many devices makes the network difficult to reduce and re-income of my males. The increase in the income of the males again increases the increase of the males and the cycle will continue.
You can see the online chart of network hardship changes from the beginning now.
What is a bitcoin mining pool?
With an increasing network hardness, the Mining corporation operation has gone harder for people with weaker devices, and their profitability decreased. For this reason, mining corporation pools emerged.
The mining pool is a network in which most of the world has gathered together and shared the computing power of their system in that pool with each other to make calculations with more power And get more rewards.
Each miner in the amount of computational power that is shared will receive as much of a share of the block reward. So you can say that mining pools increase the chances of receiving rewards due to the ability to resolve more blocks.
Extracting the latest Bitcoin
Maybe some of you have the question that happens after extracting the latest Bitcoin? Previously we said that the Bitcoin mining algorithm is scheduled to be a reward Bitcoin mining is reduced every 4 years in half.
Therefore, to extract the remaining bitcoins, at least 120 years, the time is required. At that time, it is not likely that anyone who buys bitcoins today will not be in life. However, in any case, after extracting the last Bitcoin, they will continue to work by receiving network fees and still provide network security.
What causes Bitcoin's importance?
There are several reasons why they can be pointed out about the importance of Bitcoin. But the main reasons for the Community tendency to use cryptocurrency Bitcoin are as follows:
1. Bitcoin is not under the control of any government or entity
What's more appealing is that no bank or institution can observe your Bitcoin financial transactions or no legal and tax assembly Cannot monitor your property.
However, this lack of oversight can have problems including money laundering or easy financial transactions, but reviews show that only less than 2% of transactions Bitcoin is classified as illegal transactions.
One of the reasons for extending Bitcoin acceptance in previous years was to use this digital money in illegal transactions.
2. Bitcoin shortens the intermediaries
Bitcoin is in a person-to-person network and there is no need to attend a bank or financial services institution as an intermediary of transactions. Also, a Bitcoin wallet cannot be blocked or closed as a bank account.
No financial or governmental entity can notify users of the amount of wallet inventory. There is no restriction or withdrawal limit or deposit for bitcoin wallets. No one, except for the owner of the wallet, can decide on the management of the existing assets and undoubtedly the banks are not happy with any such feature of Bitcoin.
3. How savings and spending of people's assets are transformed?
Since the birth of paper money so far, the power and financial powers of the world have always been in the hands of banks. These are banks and governments that permit the release of money, and for the maintenance and provision of intermediary services, we receive a fee.
If a state is faced with a crisis and requires more liquidity, it will print without delay more bills, or that it will be a different financial policy. In the meantime, some governments print back money regardless of the consent or dissent of the people and thus cause inflation in society. The inflation of the banks will always be the interest of the bank and the loss of the nation, especially the middle and lower cortex of society.
Bitcoin is designed to bring the people with the aim of taking this power and restoring wealth management. In the world of cryptocurrencies, instead of a piece of paper, it is considered a valuable digital code package. Code that neither counterfeiting nor the demands of governments reproduce. Code that moves without interception by banks and takes care of your privacy.
4. Inseparable back-up and developmental transactions
The existing models such as money transfer cards to cards can be canceled by the bank. However, bitcoin's transactions were returned inseparable. When you perform a card transfer to a card, you view and control the information, including the name of the card owner and the name of the destination bank. However, it is not enough to have access to news information in a formative transaction.
This means that if you inadvertently your bitcoins to a wrong address, then your inventory return will be close to zero. Because it may not be the same address at all, and your bitcoins are in the same black hole as the missing bitcoins, or if your bitcoins are transferred to the wrong address, the owner of that wallet That identity is anonymous, Bitcoin does not bring you back to you.
Therefore, before any cryptocurrency transaction, the address of the destination wallet must be controlled several times.
Anonymous transactions on the Bitcoin network
So here's a bit of a thing to know about Bitcoin? How is it mined? Who is the creator of this cryptocurrency? Where does bitcoin be derived or what is its performance? But about privacy Private and anonymity on the Bitcoin network should refer to the points.
Many people suspect that their identity remains completely anonymous on the developmental exchanges. But this is not a true impression! Bitcoin does not work as much as it is supposed to be hidden.
It is true that in the pre-developmental transactions of the name of the cotton and show you are not visible on the network, this does not mean that you cannot perform the rejection of the transactions made to you.
Cryptocurrency transactions are recorded and handled in a form of aliases. Therefore, it is not possible to intercept the address of a cryptocurrency account directly to the real person of the account holder. But in the next layers you may have a connection bridge between your real identity and your encrypted account.
For example, if your true identity profile is linked to your wallet address, then transactions will be tracked to your real identity.
In the meantime, Cryptocurrencies such as Monroe, Varj and Xie, focusing on the privacy of users, tries to hide the true identity of people in cryptocurrency transactions.
So when your cryptocurrency wallet is not associated with your real information, you are entirely anonymous. But as soon as you move your digital currencies from your wallet to a currency that uses your real data, you have compromised your anonymity.
There are a few other ways to track your true identity, but to deal with this stream also, the tricks for anonymous use of the Bitcoin network are coined by the cryptocurrency enthusiasts who Keeping track of your true identity impossible.
Many people on the early days of Bitcoin's birth have no news of how the Bitcoin network was functioning. Because of this lack of consciousness, they portrayed that Bitcoin is a definite solution for completely anonymous transactions. On this basis, many illegal transactions were carried out by Bitcoin and other digital currencies.
For instance, in 2015, a person named Ross, who took the FBI police for a long time, was sentenced to life for launching the black market online in the Silk Road. Clients in this black market could sell any illegal goods from drugs to firearms and cool through Cryptocurrencies such as Bitcoin.
Can governments take the front of bitcoin?
In response to Bitcoin's question, we explained that Bitcoin is a decentralized cryptocurrency. This cryptocurrency network is not under the control of any government or entity and acts completely independently. Therefore, Governments, except for the launch of the general development and acceptance of these cryptocurrency, cannot do anything else.
Bitcoin has come to withdraw power from banks and give money to the people. Therefore, it may not be pleasant in any government or government, and in contrast to the development of such a local monetary, it is hard to advance. However, the prohibition will result in greater popularity and illegal growth of a phenomenon.
Robert Kisaki, millionaire businessman and author of the owner of the book name Rich father, poor father, says:
"Gold and silver are God's money and Bitcoin is the people's money. I think we ended up in the dollar domination. "
Governments can take a deterrent in various stages, including the purchase and sale of Bitcoin and the equipment of extraction and use of it, but cannot control the network at hand And destroy Bitcoins forever.
One of the cases currently controlled by governments is cryptocurrency exchanges. You may use a currency exchange service to make Bitcoin possible to convert to a fiat currency. However, if the day when the purchase of goods and services will be delivered directly to Bitcoin, no other prohibition, control, and restriction may be cryptocurrency.
Destroy the Bitcoin
There are almost two ways to eliminate Bitcoin:
1. The first way is to turn off the entire Internet network forever, which is almost something.
2. The second way is to hack the Bitcoin network.
Concerning the second way, it is necessary to hack the Bitcoin network to 51% of the cryptocurrency network processing power. Perhaps in the past and when the Bitcoin network was not expanded, it was possible for hackers, but now and with the expansion of the network and the active enhancement, it is also impossible to become an inevitable.
The wallets or exchanges may be attacked by hackers, a coma that has happened before, but the Bitcoin network itself has a serious problem for security over the past 11 years. . This issue can be compared with the Internet. Hacking into a website on the internet does not mean hacking for the entire Internet network.
Free Bitcoin!
It is a monument that free cheese can only be found in rat traps. So if you are looking for free Bitcoin to get to work here, you've come to a mistake. There are two clear ways to prepare Bitcoin.
1. Buy Bitcoin
The simplest way to prepare bitcoin is to buy it. Through available cryptocurrency exchanges, purchase cryptocurrency Bitcoins or buy Bitcoins directly from trusted people. ". So you can become a Bitcoin owner in the shortest possible time. Of course, you don't need to buy a full bitcoin. As we have mentioned before, you can only buy a fraction of a bitcoin and keep it in your wallet.
2. Mining of Bitcoin
The other way to get Bitcoin is to extract it that we talked above in conjunction with it. For a few years ago anyone having a powerful home computer could easily extract bitcoins, but with time and cryptocurrency worth of this, fully specialized extraction operations It is a need for a fee to start.
Bitcoin wallet
Using Bitcoin is very simple. Just try it once to repeat it. Again, we'll remind you to use Bitcoin to know all the network's modulate. It's just as if you know what Bitcoin is and how you send and receive it is sufficient for you.
To spend, transfer or pay a commodity or service fee, you only have to move a certain amount of your wallet inventory to another individual wallet. Wallet is a personal digital property maintenance tool that will be placed on your computer or smartphone.
Digital wallets can have different types. Bitcoin can be stored in an offline form of hardware. In this case, your asset will be retained from the persecutory of potential hackers, which is called cold storage.
Now, if your digital property is stored in the Internet, it is used for a hot storage term. This allows you to access Bitcoin or other cryptocurrencies from anywhere in the world, but will also increase against the possibility of stealing it by hackers.
Of course, cold storage also has disadvantages. If you can't access your storage hardware or lost it for any reason, it may be in some cases, the digital currency stored in it for Have always been lost. Also, in some cases even if you lose your password, access to the Keymoney and consequently, the inventory will be lost forever.
Numerous wallets have been introduced to the enthusiasts today. Choosing the best wallet and how to install and use each of them requires a detailed review. For more information, to select and set up a suitable wallet, you can read the article "full introduction of Bitcoin wallet".
China Alsis research company in 2017 reported that at least 20% of all the bitcoins extracted by the miners and investors have gone for different reasons forever. However, Bitcoin remains the world's most popular digital currency.
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