Wednesday, December 20, 2017

What is Bitcoin and How to Get Bitcoin Fast

What is Bitcoin

What is Bitcoin and How to Get Bitcoin Fast - Bitcoin is a virtual currency that was first developed in 2009, by Satoshi Nakamoto, (a pseudonym). Digital currencies work just like Dollars, Euros, or more. However, this digital currency is only available in the digital world. Examples of digital currencies such as eGold, but the concept is quite different from Bitcoin.

Bitcoin uses peer-to-peer technology. That is, with this peer-to-peer technology, Bitcoin is quite unique, because it does not require central authority or central bank. The management of bitcoin transactions and issuance is done collectively in the network.

What is Bitcoin and How to Get Bitcoin Fast

Initially, the concept of peer-to-peer is based on the possibility to send digital money without having to use a third intermediary, or financial institutions. Furthermore, in order to avoid multiple transactions, the solution is to use peer-to-peer technology. After that it is also equipped to provide Digital Signature (digital signature), as well as the timestamp of transactions are recorded and can not be changed in the form of hash.

Bitcoin is open source, the design is general, no one is the owner and control of Bitcoin. So that everyone can take part in it, including also everyone can also develop Bitcoin. Because of its unique nature, Bitcoin enables ways of usage that can not be done by other payment systems before.

Read this to : What is ICO Coin and What are its Advantages and Disadvantages

With Bitcoin, one can transfer instantly with peer to peer to others, with a wider reach, to anywhere, to any country. In addition, the transfer fee depends on the terms of the exchange, much less than the cost of transfer of other financial institutions. Transactions in Bitcoin, are irreversible, meaning that transactions that have been made can not be canceled. Bitcoin transactions are anonymous, because Bitcoin is not controlled by any agency or government.

Founder of Bitcoin

Satoshi Nakamoto is the Founder of Bitcoin. Satoshi developed Bitcoin the first time in 2008. However, until now, the owner of the name is still mysterious. Satoshi Nakamoto, widely believed to be a pseudonym.

In November 2008, Satoshi published a paper on the Internet with Title Bitcoin: A Peer-to-Peer Electronic Cash System.

In the original Paper of Satoshi Nakamoto, it contains nine pages on how Bitcoin is a peer-to-peer online payment. The source of the original document is a pdf file, voice recording, as well as an email screenshot by Satoshi Nakamoto.

In 2009, Bitcoin block mining was first performed by Satoshi Nakamoto. Mining of the first bitcoin blocks was later known as "Genesis Block", precisely in January 2009.

Satoshi Nakamoto, active in the circles of cryptographers. Ultimately, Bitcoin is also a popular community of cryptographers. In the field of cryptography, there are big names of cryptographers like Timothy C. Mei and Cypherpunks for Richard Stallman, Nick Szabo and so on.

Gradually, Satoshi began to disappear. Last time, Satoshi gave last in a forum. After that, Gavin Andresen, delivering a message from Satoshi Nakomoto, that Satoshi has moved on to do other things.

How to get Bitcoin Fast

The easiest and quickest way to buy bitcoins instantly with a credit card or debit card is through Coinbase (Europe, USA & UK) or Indacoin where you can obtain the $50 or less very quickly with a time of 10 minutes.
However, you may be new to the whole concept of crypto and therefore we advise you to learn a few things.

Bitcoin is very empowering but also different from the currency that you know and use every day.

10 Step to Get Started With Bitcoin

Before you start using Bitcoin, still experimental but has operated without interruption for more than eight years, there are a few things you need to know to use it safely and avoid common pitfalls.

1.Bitcoins can not forge or expand.

2.You can use it to send or receive some money, with anyone, anywhere in the world, at a very low cost. Bitcoin payouts are impossible to block, and bitcoin wallets can not be frozen.

3.With Bitcoin you can instantly control your own money without going through a third party like a bank or Paypal.

4.Bitcoin transactions can not be returned or refunded. You just have to deal with the business or people you trust.

5.Valid Bitcoin transactions must be confirmed at least once but Preferably 6+ times before that has happened and become irreversible.

6.Bitcoin is not anonymous but does not fall. All Bitcoin transactions are kept openly and permanently on the network, which means that anyone can view balances and Bitcoin address transactions.

Other article : What is Cryptocurrency and Should You Investing Your Money there?

7.You can get bitcoins by accepting them as payment for goods and services or buying them from a friend or someone near you. You can also buy it directly from exchange with your bank account.

8.There are a number of services and merchants receiving Bitcoin all over the world. You can use Bitcoin to pay for them and assess your experience to help honest businesses to gain more visibility.

9.The Bitcoin industry is constantly changing and there are many Bitcoin news services to keep up to date.

10.Beware of similar confusing BCash, BCH, Bitcoin cash project.