The secret of bitcoin

December 22, 2017 – 11:35 am
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In fact, bitcoin is a standard computer program. It is not located only on a particular computer or server, it is located on millions of computers which directly communicate with each other through this program.

Torrents work on the same principle. You install the program, and someone else does the same thing. Then you can send each other files directly, without any servers, and virtually without any control. It is the main feature that made the torrents hotbed of Internet piracy. So the bitcoin system works just as well. The only aim of this program is to transfer files between users and to give them virtual points. In 2009, the anonymous Satoshi Nakamoto implemented its own vision of making a payment transaction fee-free: he suggested to issue an information currency, provided by nothing, but is able to be a unique medium of exchange. Currency was called "Bitcoin".

You can buy anything online with bitcoin as for dollars or euros, and it is trading on the stock exchanges. The most important difference of bitcoin from all other forms of money is decentralization. No institution in the world does not control bitcoin. No transfer fees are demamded, and if they sometimes occur, they go straight to the hands of the programmer who wrote the program-budget.

Its undeniable advantages include: the availability of the money at any time, impossibility of freezing the account, checking the validity of the operations any time, provision of the fees provided only on a voluntary basis, limited emission, attraction the attention of investors, no exposure to inflation, etc. If you want to get more information about bitcoin go to Cryptocurrency explained guide by Cryptoncy.Net.

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