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Tuesday, May 28, 2013

Bitcoin-The Open Souce P2P Digital Currency

Bitcoin-The Open Souce P2P Digital Currency - Although I work in the office and a lot of work that makes me tired but still I make a blog Tech News World and still will update it for you because this is part of my hobby who likes the world of technology, especially about the gadget, now we will discuss first about Bitcoin-The Open Souce P2P Digital Currency because it is the topic that you are now looking for, please refer to the information I provide in the guarantee for you,

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Bitcoin-The Open Souce P2P Digital Currency

Hello guys,
you must have heard of the recent hype about bitcoins and their dominance in the future
today let us know about bitcoins.

What is a Bitcoin?
Bitcoin (BTC) is a cryptocurrency  first described in a 2008 paper by pseudonymous developer Satoshi Nakamoto, who called it a peer-to-peer, electronic cash system. Bitcoin creation and transfer is based on an open source cryptographic protocol and is not managed by any central authority. Each bitcoin is subdivided down to eight decimal places, forming 100 million smaller units called satoshis.Bitcoins can be transferred through a computer or smartphone without an intermediate financial institution.

What are the advantages of using bitcoin?
  • the transactions are anonymous.
  • worldwide payment.
  • almost zero processing charges.
  • currency value does not depend on gold or Forex reserves(like real currencies) .
  • bitcoins can be mined(minted) by solving complex math equations.

What is the recent hype about it?
The current value of 1 bitcoin is about $127, nearly a year ago it was below $10.
The sudden increase in value of the currency has created many millionaires like the winklevoss twins(who once sued zuckerberg of stealing their idea).
This has attracted many venture capitalists to invest in this idea.



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