Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.
1 Bitcoin equals 909,753.15 Bangladeshi Taka
It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Bitcoin has been praised and criticized. Critics noted its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
On May 11 2020, the reward halved again to 6.25 bitcoin. The reward will continue to halve every four years until the final bitcoin has been mined. In actuality, the final bitcoin is unlikely to be mined until around the year 2140.
There are three primary ways to obtain bitcoins: buying on an exchange, accepting them for goods and services, and mining new ones. “Mining” is lingo for the discovery of new bitcoins—just like finding gold. In reality, it's simply the verification of bitcoin transactions
By mining for Bitcoins, as long as the markets remain active you can basically make money for nothing. ... The more realistic way of making a million with Bitcoins is going to be trading them through the most prominent exchanges, such as Coinbase. Back in 2011, you could have bought Bitcoins for $10.