What is online business and how to do it?

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King_10

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3 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Online business, Bitcoin, Cryptocurrency

What is online business and how to do it? To understand, you must first understand

What is cryptocurrency? What is Bitcoin and how does it work?

If you don't understand this, you will not understand online business in any way. If you look at the articles posted on Wikipedia about this, you will understand a lot. And Wikipedia is an information portal run by the United Nations, where no wrong information is given. All that is given is correct and verified to be selected and posted.

What is cryptocurrency?

Read the following post carefully from beginning to end to know better about cryptocurrency. Although it is written in English.

Cryptocurrency

https://en.wikipedia.org/wiki/Cryptocurrency

Then ...

What is Bitcoin?

https://en.wikipedia.org/wiki/Bitcoin

What is Bitcoin and how does Bitcoin work?

Bitcoin is a symbolic currency traded through an open source cryptographic protocol.

Bitcoin transactions do not require any kind of financial institution, regulatory body or clearing house. In 2009, Satoshi Nakamoto introduced this currency system. He called this monetary system peer-to-peer transactions.

Bitcoin transactions are protected by a server called Bitcoin Miner. When Bitcoin is transacted between multiple computers or smartphones connected to a peer-to-peer communication system, its central server updates the user's laser. With the completion of a transaction, new bitcoins are generated. Until 2140, the newly created bitcoins will be half-denominated every four years. After 2140, when 21 million bitcoins are created, no new bitcoins will be created.

Bitcoin is becoming increasingly popular in many parts of the world, as no financial institution is needed to complete the bitcoin transaction and the movement of erland can be tracked in any way. Bitcoin has gained popularity as a digital currency.

Bitcoin's first ATM machine was recently launched in Vancouver, Canada. The idea is that it will take Bitcoin further to establish itself as a currency.

Bitcoin transactions are either peer-to-peer or from customer to customer's computer. It does not go through a central chamber or a controlling body to control it. The whole process of bitcoin is done online through an open source software. Anyone can generate Bitcoin through Bitcoin Miner. The process of generating Bitcoin is always predictable and limited. As Bitcoin is generated, it is stored in the customer's digital wallet. If these stored bitcoins are sent by the customer to someone else's account, a separate electronic signature is created for the transaction that is monitored by other miners and stored secretly and securely within the network. At the same time the existing ledger of the customers is updated in the central database.

When a product is purchased with Bitcoin, it is sent to the seller's account and the seller can then repurchase the product with that bitcoin, on the other hand the same amount is deducted from the buyer's ledger. The total number of bitcoins is redefined every four years to keep up with the real currency.

Information Source: Wikipedia

Or a closer look at Bill Gates' interview about Bitcoin will help you understand what Bitcoin is and how it works.

What Bitcoin is and how it works.

If you read Bitcoin history well, you will understand a lot

History of Bitcoin👇

https://en.wikipedia.org/wiki/History_of_bitcoin

After going to the link above, you will find a chart like this at the bottom. If you read the chart carefully from beginning to end, you will be able to understand a lot of online business.

All in all, Bitcoin is a digital currency that can be used to buy any product from one of the world's best one to one and a half million companies. You cannot use Bengali money to buy anything in London. The euro and pound can only be used as currency in London. But this bitcoin can be used all over the place. Those who understand Bikash or Dutch Bengali Rocket will understand Bitcoin better. Bitcoin is a digital currency like development. The difference is that development is controlled by the government and bitcoin is beyond the control of the government. The safest transaction currency. And the development is made from this bitcoin formula. This technology is called blockchain technology. Bitcoin started in 2009. Back then the value of a bitcoin digit was much lower. At that time you could get 1000 bitcoins with 1 dollar but today the price of this bitcoin has increased so much that now the price of a bitcoin digit is more than 18 thousand dollars.

Do a Google search for the value of today's Bitcoin,

Enter “Bitcoin to USD”

Then you will understand the demand

According to CNN and international economists, this bitcoin could reach 10,000 to 1 million dollars in the future. Now imagine when I could get 1 thousand bitcoins for 1 dollar, if I made a mistake and bought 1 thousand bitcoins for 1 dollar, then just think what I would be today

2009 ----- 1 dollar = 1000 bitcoins

2020 ------ 1 bitcoin = 18,000

1000 bitcoins = 1000 * 18000 = 18,000,000 dollars

And whoever bought a 100 or 1000 dollar bitcoin then, think about his situation. Because now the value of 1bitcoin in Bengali tk is more than 15 lakhs.

What is the reason for the increase in the price of Bitcoin?

The reason for the increase in the price of Bitcoin is the huge demand for it. If you wish, you can transfer billions of dollars to any part of the world through Bitcoin without any hassle or fee. For example, if you send 1 crore rupees from London to Bangladesh, you will have to endure a lot of trouble, such as:

How did you earn this money?

Who to send to?

Then there is the charge ?

But if you send via Bitcoin, you don't have to pay any charges and there is no problem, in a moment the dollar will reach from one country to another effortlessly. And you can cash out bitcoin from all the banks in the world. Bitcoin is being cashed out from more than 10,000 ATM booths in our neighboring country India. Bitcoin can also be withdrawn from any ATM booth in the world through Visa Card and MasterCard.

Bitcoin has not started circulating in Bangladesh now but Bangladesh Bank is working on it. Cash will be available in Bangladesh banks very soon. However, Bitcoin has started circulating in some of the most expensive hotels in Bangladesh and it is increasing, such as Radisson Blu, Sheraton Hotel, Westin Hotel, Hotel Ocean Paradise Cox’s Bazar, etc.

There are more than 1,000 digital currencies like Bitcoin in the world, but the most popular are 100 to 150. The value of which is increasing day by day.

Former President Donald Trump has a coin with his name on it Trump Coin. And this Trump Coin can only be used by American people.

Bill Gates has an Ethereum coin that is currently worth more than 500.

You can visit the following 2 websites to know about these coins

https://coinmarketcap.com/

https://www.cryptocompare.com/

And the way to get bitcoin is bitcoin mining pool. This bitcoin is more expensive than gold can be obtained through bitcoin mining pool. But it is very difficult for ordinary people. Experienced programmers and big IT business owners can. Because the matter is very complicated and very difficult. Again, many people buy and deposit bitcoin. This is because, when the price goes up, you will make a profit by selling. If you search for Bitcoin Mining on YouTube, you will find many videos.