Bitcoin । What is Bitcoin । Bitcoin Facts ।

 

what is bitcoin

Simply put, bitcoin is a digital currency. Bitcoin is also a digital currency like there are other currencies like Rupee, Dollar etc. It is completely different from other currencies as we can neither see Bitcoin nor touch it like money.

We can store bitcoins only in online wallets. Bitcoin was invented by  Satoshi Nakamoto (unknown) in 2009, and its popularity has been increasing since then.

Bitcoin is a Decentralized currency, which means that there is no government, bank or third party to control it, that is, no one is its official owner.

As we all use the Internet, so is Bitcoin. Similarly, Bitcoin can be used by anyone, as no one owns it.

Introduction of Cryptocurrency in India

Cryptocurrency was first introduced in India in 2009. Since then bitcoin transactions have existed. It is a different matter that despite its widespread use, it was not liked by the governing bodies like RBI. However, he could not maintain his stand for long.

The inventor of bitcoin is a mystery

We have told you that bitcoin was invented on January 3, 2009, but still no one knows whether Satoshi Nakamoto is a real person or a company, it still remains a mystery. While others have said much more about bitcoin in their views.

History of Cryptocurrency in India

Central banks around the world began issuing their own cryptocurrencies. Some of them declared them legally valid for transactions. The rest took the approach of waiting. The Supreme Court in March 2020 overturned the 2018 ban on crypto asset trading due to global trends in favor of cryptocurrencies.

Immediately the court had said, "When the consistent stand of RBI is that they have not banned virtual currency and when the Government of India is able to decide on the proposals of various committees including two draft bills, then it is possible for us." It is not that we justify the stay." By saying this, the court had made it clear that he was not stayed.

Pizza was first purchased with bitcoin.

Do you know why May 22 is celebrated as Bitcoin pizza Day ?

It is said that, initially bitcoin was not worth much. At that time, pizza was bought for 10000 btc and this was the first purchase, at that time the value of 10,000 btc was $ 41 (Rs 2664.0).

No country can ban bitcoin

The government or bank of any country does not have the right on bitcoin. No one owns bitcoin. Because of this bitcoin cannot be banned. still,

Several countries have tried to ban it, such as Bangladesh, Bolivia, Thailand, and Vietnam. But there are some countries, such as Australia, Russia, Japan and Venezuela, that have made bitcoin an official legal tender and are regulating it.

However, some countries like India and even the US have not clarified about their official Police regarding cryptocurrency

You can also earn bitcoin by verifying the transaction of bitcoin, but it requires a very powerful computer.

Bitcoin's Fscts

The computing power of the bitcoin network is more than that of a supercomputer. Cryptocurrencies are digital currency that is used to buy goods and services, and you can invest in more than a hundred cryptocurrencies through the coin switch kuber.

The process of creating bitcoin is called mining and blockchain technology is behind it.

If the bitcoin wallet is lost, then understand that your bitcoins are also lost because bitcoins are kept in digital wallets and you can login and check your balance.

But if your password and key are not kept secure then your digital bitcoin wallet will not open and then you will not get access to your bitcoin wallet.

The sender and receiver details are hidden in bitcoin trading because they are in alpha numeric characters and perhaps also because bitcoin is easier to use in most illegal transactions.

For example, dollars can be divided into cents and rupees into paise. In the same way, bitcoin can also be divided and a unit of bitcoin is called a satoshi byte. And this name is also taken from the name of its mysterious creator and you know how much Santoshi Bite is worth. 0.000000001 Bitcoin is very small Ammount.

More than 21 million bitcoins will not come in the market

The total amount of Bitcoin has already been decided. More than 21 million bitcoins will not enter the market, so far about 13 million bitcoins have come to the market. And in the next few years the remaining bitcoins will also come.