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all you have to know about bitcoin

Written by chisom
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        all you have to know about bitcoin

all you need to know about bitcoin is a very important topic to read up. Bitcoin has popularly known in the world, but many people are very confuse on what bitcoin is all about. But am going to make it clear in this article on all you need to know about bitcoin. Bitcoin is known as a cryptocurrency and electronic cash that decentralize digital currency without making the use of the central bank.

READ UP; http://www.frankupdate.com/2018/08/06/how-to-store-your-bitcoin/

    all you have to know about bitcoin

Ticket symbol of bitcoin is BTC, XBT; its subunits are 1/1000 which is millibitcoin and 1/100000000 which is Satoshi. We all know that it is possible to transfer bitcoin from one person to the other, the other on peer to peer bitcoin directly without going through the process of intermediaries though it is used everywhere in the world.

        invention

bitcoin was invented by an unknown set of people using an identity known as SATOSHI NAKAMOTO. Their purpose of creating bitcoin is to reward people that invest in the process known as MINING. Bitcoin is for the exchange of products, goods, and services. According to the University of Cambridge, it is known that about 2.9 – 5.8 million people are making excellent use of cryptocurrency wallet, in the year 2017. People have criticized bitcoin in many ways like illegal transaction, scamming and theft but article knowing all you need to know about bitcoin, you will know the correct truth.

Satoshi Nakamoto made it clear in his white paper, saying that the main problem concerning common currencies is that all the trust that were needed to make things to work out.

That the central bank has to be well reliable on to debase the currency. One of the first bitcoin enthusiasts said that he understands bitcoin as an avenue, and a very great idea to make sure that money will separate from the state. While Nigel Dodd debated on the social life of bitcoin saying that the purpose of the bitcoin was to withdraw money from social and also from the governmental control. Steve Bannon who has a significant stake in bitcoin company takes bitcoin has been disruptive populism, and that it brings in charge rear from the central authorities.

http://www.frankupdate.com/2018/08/06/important-uses-of-bitcoin/

    history

Let look into the origin of bitcoin. A website known as “bitcoin.org” created and registered on 18th of August 2008 also in January 2009, Satoshi Nakamoto mined a blockchain which was the first block of a chain called genesis block, and the first bitcoin user to receive transaction was known as CYPHERPUNK HAL FINNEY. He was also the first person to create (RPOW) that is, reusable proof of work system in the year 2004.

         people involved.

Finney was the number one man to get bitcoin downloaded instantly that the software is of use and he got ten bitcoin from Satoshi Nakamoto. Other people also were also in the process. Like WEI DAI and NICK SZABO. Wei Dai help in creating b-money while Nick Szabo helped in creating bit gold. Satoshi Nakamoto is probable to have over one million bitcoins before vanishing in the year 2010, when he gave everything over everything including the network alert key and the code to a man known as Gavin Andresen. who later became the director of the bitcoin foundation. i think this is all you have to know about bitcoin for now.

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About the author

chisom

My name is Chisom odimgbe theodore. A professional blogger and a writer that is enthusiastic to help people to achieve their goals in business Field. Am also an insurance and cryptocurrency informant with great writing skills. xx

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