What is Bitcoin? 7 wrong ideas and facts about income from Bitcoin

Generally, we see money or money in paper notes / metal cakes. But in the current civilization, the introduction of the online currency has begun. Bitcoin, Iterium, Ripol, LightKen, Mono, Dash, NEM etc. are online virtual currency / money or cryptocurrency. Bitcoin is the most valuable and popular among them. Reader, today I will tell you about this very precious coin Bitcoin and solve some of our common misconceptions about it.

What is Bitcoin?
Bitcoin is a new level of online virtual currency. In 2009, it was launched by Satoshi Nakamoto, a pseudonym or an online group. There is no bank system. Although it is used internationally, there is no banking institutional mechanism that will control all other currencies. This digital virtual currency network is given through the node. And it is used by cryptography. A distributor, called BlackBerry, is used, which connects this currency to the public. It can be exchanged with any country's currency, following some processes. Although our country does not support it, it is still used in many online shopping. Bitcoin unit is Satishi. 1 bitcoin = 100000000 satshi

  • 1 MBTC = 1000000 BTC
  • 1 uBTC = 0.000001 BTC
  • 1 mBTC = 0.001 BTC
  • 1 satoshi = 0.00000001 BTC
Let's see now our concept and reality about Bitcoin

Income from Bitcoin
Many of us think that Bitcoin is a kind of shaped look like a currency. But in reality there is no shape of bitcoin. There are several ways to purchase Bitcoin. Any series of numbers or letters are preserved in the form of Bitcoin which is verified by the public block chain. So you can keep this series number online bitcoin wallet. Bitcoin purchases have become easier nowadays. You can not buy a bitcoin directly. For this, we have to go through several processes. First of all, this transaction is a little difficult. You will have to buy Bitcoin in seven sizes. Because there is a lot of value, if you buy a bitcoin, then there is a problem in trading. However, you have to contact Bitcoin to buy various online exchanges or you can collect without any other investment.

Bitcoin anonymous
Many of us believe that Bitcoin can not be tracked. It is not right at all. Bitcoin can also be tracked. We know that Bitcoin is trading through Blockchain. So you can understand that if someone wants to check the transaction chain then he can. And if you can verify the exact rules of the blockchain, then you will be able to understand where and how they used that bitcake from a bitcoin wallet. But the interesting thing is that Bitcoin transactions are made by high security codes so ordinary people can not find this information. This will be the Extreme Level Programmer.

Many people think that the Bitcoin stable currency But this idea is also wrong. Because the Bitcoin miners generate a blockchain every 10 minutes. In fact, the main reason for considering the stable is that there is no bitcoin inflation. At present, the bitcoin mining process has become very difficult, but it can be mined using good quality hardware. However, since there is a blockchain every 10 minutes, then there is no point in thinking that bitcoin is stable. Moreover, bit coins are now exchanged in different transactions and banking sectors, so it can be said that it is a moving currency.

Bitcoin mining is possible for the present at the same time?
It was just that there was a lot of hard work to do before doing bitcoin mining. But with time now it is difficult to produce a new series code. But it is not difficult to produce that it can not be produced. Many people have the idea that Bitcoin can not be produced at this time so whether Bitcoin is good. Those who speak the truth tell me very little about Bitcoin. Because every 10 minutes a new Bitcoin is generating, and with the use of BlackBerry.

Bitcoin effect in real life
Although we know that Bitcoin is very valuable. Still, many may question how valuable it is, where there is no regulatory body, bank or government. Actually nothing is for the government or the bank. It is valuable that the people who make it valuable. Such as the US dollar, a currency recognized by the US government and the bank. But if the public does not use it and instead of accepting something else as a currency, then the government will be neutral. A paper can be worth it. Actually this paper has made the public valuable. The same applies to gold again. Gold is like a little metal and all other metals. But its value is more. You may now say that the gold is bright shiny so the price can be high. Not really. We have increased the value of the world as it is worth the same worldwide. So you can understand that the same thing about Bitcoin. Netizens have made it valuable because of its value. And we have given it all recognition, so that in real life it is the means of effective money exchange.

What is Bitcoin only the Digital Cryptocurrency?
The answers will not be direct. Because there are many more popular digital currency online besides Bitcoin. Ethriam, Ripol, Lightkken, Mono, Dash, NEM are also popular in the current popular digital currency. These can be redeemed in any authorized bank and can be done any online shopping. But Bitcoin is more popular than them.

Bitcoin Point Lis
Many people say Bitcoin Pointless But in reality, the current digital currency is much better than all other real physical currency. Such as online shopping or online international payment or money transfer. Now if you want to make online international payments or send money to friend abroad, you will have to win at the bank then both the bank account will be required. Yet again you have to convert it to the currency of that country and the VAT will be added as well. Even after doing so many things, it will take 4/5 days to reach the country. But you can easily do transactions, make payments, and make sure you have two Bitcoin wallets just for the sake of Bitcoin. So Bitcoin is definitely a blessing at the current digital time.

Today, I have cleared some important ideas about the reader Bitcoin that we have misunderstood for so many years. If you want to solve some unknown information and wrong ideas about Bitcoin, I will not give the post as it gets bigger. However, if you have any questions or if you have something to tell about this, you can report it to the comment.

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