Good Day! everyone It's me @Oslec08 My article for today is about my little knowledge about Bitcoin (BTC). I'm just new and starting to learn about Bitcoin. so if you have any links to suggest for me that's about Bitcoin please comment down below.
What is a Bitcoin anyway?
Understanding bitcoins can be a complicated matter. It’s not something a person should just jump into without some kind of knowledge. Bitcoins are a type of digital currency that can be created via a free software application and transferred across the Internet without the use of financial institutions or clearinghouses. This means that there is no physical form of this currency; it is not like a U.S. Dollar or a Euro, or even like a piece of gold or silver. You cannot touch bitcoins and be in physical possession of them like you can physical currencies.
The best way for you to understand digital currency is by thinking of it as a code. The strength of the code makes the currency stronger. Cryptography ensures that the code cannot be accessed without proper authorization. This code has never been broken, though many people have tried!
How can Bitcoins be used then? A computer, Smartphone, tablet, or any device with Internet access can easily transfer Bitcoins from one person to another, even in transactions between a user and a business website. The number of bitcoins you have are stored in your “digital wallet,” which is similar to the screens you see when you use online banking forms to authorize transactions.
Bitcoin is unlike other currencies because it is decentralized; no one agency (world or national) controls the regulation of it. You may think because Bitcoins are a digital currency that there would be an unlimited supply of them, much like the space on a digital or virtual server.
Thanks to a schedule planned by Bitcoin itself, there will be 21 million bitcoins in the year 2140. This number will be reached by each update being reduced by half every four years until 2140. At that time, there will be no more Bitcoins mined
To further ensure that the exact number of 21 million Bitcoins will be in circulation in 2140, each Bitcoin is broken down into eight decimal places, leading to 100 million smaller units being created, known as “satoshis.” The name is based on the founder of Bitcoin, a software developer named Satoshi Nakamoto.
Bitcoins are being accepted at more and more retailers and other online sites throughout the world, changing the way people do business online.
If you want to get Sponsors feel free to visit this community and grab the opportunity
Visit this link : https://read.cash/c/get-sponsored-2a0b
sir @Ashma the creator of the community would love to welcome you there submit your application now
If you interested click the Register link below
Register Here : https://bit.ly/get_participated
hmmm