What is Bitcoin and how does it work

((🤲 I thank everyone who helped and encouraged me morally or materially. I wish you all success and I can offer you more 🤝🤲))

What is Bitcoin

Bitcoin is a one-to-one (virtual) digital currency, created by “Satoshi Nakamoto,” who worked on this project alone and released the token to the public in 2009. It disappeared shortly after the virtual currency was created, and what remains After him is this infamous quote:

oin is traded in a one-for-one network, with all transactions recorded in a public ledger called the block chain. If you send 1 bitcoin from your bitcoin address (or wallet) to your friend Ahmed, the bitcoin network records the transaction in the public record, this means that you have no possession of bitcoin. The coin has moved from your Bitcoin wallet to Ahmed's wallet.

Bitcoin History

In November 2008, an article titled "Bitcoin: One-for-One Electronic Cash System" was published to an

encrypted mailing list under the name Satoshi Nakamoto. This article has discussed ways to use a network one-for-one "System for electronic transactions without relying on trust". In January 2009, the Bitcoin network came into existence with the release of the first open source Bitcoin client and the issuance of the first Bitcoin, and Satoshi Nakamoto was the first ever to mine Bitcoin

In the early days, Mr. Nakamoto was valued at 1 million bitcoins, before disappearing from any bitcoin engagement.
The value of the first Bitcoin transaction was discussed by some people in the 'Bitcointalk' forums and the transaction was observed that 10,000 Bitcoins were used to buy two pizzas indirectly.
The only security bug that has been found and exploited in the entire history of Bitcoin, on August 6, 2010; More than 184 billion bitcoins were created in a security breach deal. Within hours, the deal was spotted and erased.

How is bitcoin extracted?

Bitcoin mining is the process by which bitcoins are released into circulation. This involves solving a computationally difficult puzzle to discover a new block, which is added to the block chain, and in return receives a reward in the form of a few bitcoins. The more bitcoins that are generated, the more difficult the bitcoin mining process - that's all, the more powerful the computers involved in the mining process. In the past, a normal desktop computer was sufficient for Bitcoin mining, but now to keep up with the level of difficulty, more advanced and faster computers and processors must be used

How does the bitcoin exchange system work?

The simple answer is: Just like exchanging ordinary physical currencies. Basically you are buying one currency against another on online exchanges like Mt. Gox acts as brokers for currency transactions, and they convert the capital from bitcoin to US dollars to other national currencies, and back to dollars or bitcoins. This is how you can earn money. By exploiting the ever-changing values ​​of different currencies, traders can benefit from moving money around these markets, in a process known as arbitrage. But they can lose it just as easily.

 trading bitcoin

Bitcoin CFDS are the magic that allows you to trade Bitcoin without using Bitcoin. It was originally created for the purpose of gaining exposure to Bitcoin without actually having to own it.
(CFD) stands for Contracts for Difference and is a contract between a trader (trader) and a broker. These contracts announce that the difference between the trader's entry price in the contract and the exit price of the contract is either the trader's profit or loss, essentially simulating as if it was an actual financial instrument (ie Bitcoin) and was actually owned by the trader