What is Bitcoin? History of Bitcoin.

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Avatar for AmjadHosain12
1 year ago

What is Bitcoin?

Bitcoin , crypto - currency or virtual currency or digital currency. Even if it doesn't exist, it has a lot of value. And the only means of communication is the internet.

Suppose you are sending money to your father for development. You went to the development agent and paid, this money exists. Because you are handing over the money to the development agent.

Now the money that this money development agent sends virtually to another number from his mobile does not exist. Even then it is valid because the government of Bangladesh, Bangladesh Bank has recognized it.

Basically this virtual money exchange is called virtual currenc And virtual currencies can have different names. 

Such as: Bitcoin, Etherium, Litekein, Dezekin etc.


How much money is equal to 1  bitcoin?

We all know that every currency has an acronym, just as the US dollar is denominated in USD USD, just as Bitcoin is abbreviated as BTC.

 

Friends one bitcoin equals USD


1 BTC = 55,986.90 United States Dollar


And if we convert so many dollars into Bangladeshi rupees


1 BTC = 4,719,746.72 Bangladesh Taka


If you can earn a bitcoin then you will own 4,719,746.72 Bangladeshi rupees.


History of Bitcoin.

  • The BITCOIN.ORG domain name was registered on 18/06/2008, in November of the same year, what is Satoshi Nakamoto  Bitcoin ? And how it works in the mailing list on the METZDOWD website. 

It is thought that the cryptocurrency or virtual currency was introduced by a group of people under the pseudonym Satoshi Nakamoto in late 2006 . Which is later called peer-to-peer currency .

Peer-to-peer (Peer-to-peer) means  a system where transactions can be made from customer to customer.

All Bitcoin transaction processes are completed online, customer-to-customer transactions are completed through an open source software.

Bitcoin Mining


Bitcoin mining is done by a computer just like gold, diamonds, etc. are mined by various machines . The bitcoin that is 'mined' is called 'bitminer'.

ASIC, which specializes in bitcoin, has now become the mainstay of bitcoin mining and has surpassed the GPU speeds by more than 300 times

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