Bitcoin, What is Bitcoin?


This article is on Bitcoin, as today’s latest trend of cryptocurrency caught the eyes of many investors. So, what is actually a bitcoin?

Bitcoin or BTC is a digital currency, also widely known as a cryptocurrency, which is distributed online. There is no single entity controlling it, it is a peer to peer network. Besides its popularity, there is one cache in this cryptocurrency, only 21 million of the bitcoins can be generated.

Now some of our audience may have a  question that who created or owned bitcoin.

Who created Bitcoin?

There is no perfect proof of the real creator of the Bitcoin. There is always a name of a developer or a group of developers alias named as Satoshi Nakamoto in 2009 but the people mentioned in these rumors denied the fact of being Satoshi Nakamoto.

It is believed that Satoshi is a Japanese developer with perfect English that’s why on his software, there is no sign of the Japanese language. In 2010 Nakamoto also made some decision by giving the software in hands of one of its most prominent members of BTC community. Not only this Satoshi Nakamoto named its lead developer Gavin Andreson.

 

Who owns Bitcoin?

It is believed that Satoshi Nakamoto still owns $19.4 billion in mid-2018. Gavin Andreson had an idea that the control of bitcoin must be decentralized so the company will still work even if he got hit by a bus.

Why does everyone like Bitcoin?

For maximum investors, the reason they love Bitcoin is that of independence from the world banks or world government or any cooperation. No authority can impose or control or monitor the transactions done or charge any fees or taxes. At the same time, its transactions are very transparent, every transaction is stored in a large public ledger known as Blockchain.

We will be discussing more on Bitcoins that how it works, and more about the Blockchain.

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