Bitcoin is the first of the "cryptocurrencies" and a
new form of scarce digital asset that seeks to transform itself into internet
money. Among the characteristics that make it unique, it stands out that nobody
controls it; no government, company, or person, and, in turn, all the decisions
of the network are made by the users themselves, transforming it into an open
and decentralized network.
With bitcoin it is possible to transfer money or pay for
internet instantaneously, globally, 24/7, without restrictions of time, age,
country of origin or destination.
It can also be understood as a protocol to transfer value over
the internet. This protocol was originally proposed and developed by Satoshi
Nakamoto (pseudonym used by the creator or anonymous creators of this
technology) in 2009.
Is
Bitcoin Safe?
The Bitcoin protocol (the database or "Blockchain" UBTC Electrum), in which the rules and
operation of the Bitcoin network are defined, is public and open to anyone who
wants to review it or put it to the test. In fact, to date, thousands of people
have reviewed their code and have verified the robustness and reliability of
this protocol. However, those who have bitcoins should remember that, like any
application on the internet, bitcoins are susceptible to being stolen by
hackers or thieves that violate the security of your computer, smartphone, or
vault where they are stored.
How Or
Why Does The Price Of Bitcoin Vary?
The cryptocurrency markets operate 24/7, 365 days a year, and
it is in these where the price is reached according to the aggregate supply and
demand at each moment of time. It is also important to consider that, as a
consequence, the largest markets are the most influential in determining the
price of a bitcoin. Today the biggest markets are against the USD, EUR and CNY.
Is
Bitcoin Like Cash Or Like A Credit Card?
Bitcoin is a global and decentralized payment network, which
does not depend on anyone and which, as a consequence, nobody controls. In this
line, although bitcoin is not a currency, it looks and behaves more like a
centralized payment network like Visa or MasterCard.
Why
Should I Use Bitcoin?
There are many reasons, from the practices, such as with
Bitcoin it is possible to transfer money over the internet without
intermediaries, with low commissions, 24/7, and without interruptions, even the
most philosophical, as Bitcoin allows access to digital and transferable money
without the need to depend on no bank or government. In this sense it is said
that Bitcoin is similar to gold, in that it is scarce and that only whoever
owns the gold finally controls it. More and more companies around the world
accept payments with Bitcoin (UBTCElectrum), from travel agencies such as Expedia, to computer manufacturers
such as Dell. It is also used by multinational non-profit organizations that
depend on global collective financing for their subsistence. To weigh on the
prices of cryptocurrencies, however, were not just purely normative aspects.
Part of the sales pressure has found reason for being in the attack on the
Ethereum Classic network , which has further deepened investor sentiment.
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