Bitcoin is a revolutionary currency created in 2008 by a developer under the pseudonym Satoshi Nakamoto. A “decentralized” digital currency with no central bank or controller, Bitcoin’s circulation is provided by a network of its users, who have a financial incentive to make sure transactions are fulfilled, recorded and secured.
With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.
It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
Why is BIT Coin?
Bitcoins can be used to buy merchandise anonymously.
Give people control over their money, without needing consent from parents, banks, or governments.
Bitcoin is decentralized in such a way that it does not matter who uses it.
Anyone can easily send it over the internet and around the world, facilitating international business.
Send Bitcoin from your computer, tablet, smartphone or other device, to anyone, anywhere in the world, day and night.
Verifies transactions with the same state-of-the-art encryption that is used in banking, military and government applications.
Open-source. Nobody owns it; the most popular client is maintained by a community of open-source developers.