The word "bitcoin" may seem a strange term to
Some people are familiar to others, so we will try in this article to
We will dust this word, and we will try to answer the following questions
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What is the bitcoin?
What is its origin and origin?
How do I get it? What are their positives? And what are the disadvantages
- First, what is the bitcoin?
Is an electronic currency (a cryptographic coin, called English
cryptocurrency) can be compared with other currencies such as USD or
Euro, but with several fundamental differences, most notably that this currency is a currency
Fully electronic trading online only without physical presence
to her.
They also differ from traditional currencies in the absence of a central regulatory body
Stands behind them, but can be used as any other currency to buy online
Or even converted to conventional currencies.
This is to say that it relies mainly on the principles of encryption in all
Its aspects are also considered the first and most famous currency
But it is not the only encryption currency on
Internet now.
There are currently at least 60 different cipher currency available
6 coins can be described as primary, almost all of which are based on the same principle
The work of KFH, since the open source currency is open source, it is possible
Reproduce them and make some adjustments to them and then launch a new currency.
To clarify more about encrypted currencies and how they work, you can compare them
The balance (call balance) is only a serial number, but you pay for it
It takes advantage of this serial number by giving you minutes and calls
The same idea, what if you have a code that performs the same serial number role
But the difference is that it does not give you minutes of communication .. but give you
Financial value (you can buy goods and goods).
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2.Second, origin and origin:
A person who called himself the symbolic name Satoshi Nakamoto put forward an idea
Petcavain for the first time in a research paper in 2008, described it as
An electronic cash system that relies on the principle of peer to peer in financial transactions
(Peer-to-Peer), a technical term that means dealing
Direct between the user and another without having an intermediary exactly as in the program
BitTorrent, there is no server that stores the data, but moves directly from
User to another, so nobody has authority over them and no one can shut them down.
The owners of KFH say the purpose of this currency is raised
Trading for the first time in 2009 is changing the world economy by the same
The way the Internet has changed deployment methods.
Based on this idea, a free program was built (anyone can
Get it) The function of this program is that it provides you with a "digital wallet" as in
The real wallet (which saves money) is stored in this wallet
Bitcoins you own and save Bitcoins when paid
Person for you, and contain several addresses (each address represents an independent pocket in these
Portfolio).
Third, how do I get it?
There is a process called meta-mining, similar to research in the gold mine, however
Here mining is shaped as a solution to complex mathematical equations, ie it is from
He can solve the equations first get the block (Block is about
A set of Bitcoins is halved every 4 years,
Since January 2013, each block has become = 25 composition.
Six blocks per hour (ie a block every 10 minutes)
The mining process can be done by anyone and has several methods:
1. Computer-based mining
, And you can do it by mining software, such as Electrum
Blockchain and Bitcoin Wallet, which are simply done through the registry
In the site, then put the title of your wallet to be sent what you earn to this
Address, but this method is not good efficiency, because your processor
The computer does not give you the power required to solve such complex equations
(In full year you will earn about $ 5 only).
2. Currency conversion
, You can convert your money to Bitcoins, (just like the conversion between the dollar
And Euro) across several sites, such as the Mt. Gox
3- The purchase of shares in specialized companies
In mining
, Such as GENESIS-MINING, and in this way will buy shares
, And you will have a portion of the profits generated by the prospecting.
4 - Purchase specialized equipment in mining
They are high-speed devices and need constant Internet connectivity
And electricity.
Note
Each block consists of a set of parts, each part called "Hash" and when
Solve part of the equations gain a set of Hash.
Some might ask:
Since mining programs are open source, and their source code is known
So what prevents me from producing units as much as I want? OK ..
As we have previously said is a cryptographic coin, the code on which the currency is based
It is not equivalent and has a range of solutions; it is an enormous number of equations
Complex, they depend on the blockchain.
A question :
What is the blockchain?
To answer this question, read this story
Short:
We have Sami and Omar, Sammy sold for a lifetime phone, and agreed with Omar to pay him
Through the currency of Bettquin, he converted his age to his account 40 units composition,
This financial transfer is now recorded in the network configuration, and will enter this
The conversion is recorded (and all conversions that occur) in
blockchain, thus, every change in the network configuration (whether this
Change is the conversion of money, or the solution of a new block or any activity), this change
It will be recorded in the blockchain, if .. blockchain is not
The account book for the network configuration, and this book exists in each portfolio
People.
It is known that the book of accounts is increasing in size day after day, and since
Equation formulas (which we must solve until we get the protein)
Based on the blockchain it certainly gets harder with days.
Fourth: The advantages of protein:
The positive points are summarized in several points:
1 - Elimination of the burdens and delays of financial service providers.
They are characterized as a currency that is not controlled by governments and authorities
Official banks, making it easy transactions and conversion, away from
Costs and taxes levied on financial transactions
2. Confidentiality
Selling, buying, and remittance can not be controlled, but they are
The code goes from the buyer's purse to the seller's wallet, they do not have any way
Of any kind allows tracking what was spent to reach the seller or buyer, which
Makes it a popular idea for both privacy advocates.
3. Protected from inflation
When it was established, limits were set for it
13 million units, and to 2025 will have become 21 million units
After which production is expected to stop.
4. Globalization
It is not a currency that operates in a country without the other; it is a currency that is spread throughout
The world is not connected to geography, but is connected to the global network
(Internet access).
And increase the spread and demand and use of them for sale and purchase, Germany has
Officially recognized as an electronic currency, there are a lot of
Markets and sites you deal with as a means of payment. Recently, a judge ruled
Federalism in the United States that Betcuen is a currency and a type of cash,
And could be subject to government regulation, but the United States did not recognize
In the official currency yet.
But what gives the value of its value
?
To answer this question, I would like to ask you the same question: what is gaining
Things worth?
Of course, there are several things that give anything (whether it is money or resources)
Or even antiques) its material value: scarcity, limitation, need, abuse
People with them, distinguish them from other alternatives.
It is a rare and limited currency, and people will need it in the future
Positive) and the public receptive to it on the rise, and as we said it is distinct from
The other currencies have several advantages, so this currency acquires its value
Makes some willing to turn his "tangible" money into Bitcoins.
We talked about the pros but .. does not have any
Negatives ?
1. Unknown source
It is a currency unknown to the source, even the inventor of the code name
Satoshi Nakamoto is unknown, it is unknown is he a mother person
Gang, or even state, it is possible that the wealth has been extracted from
Before they are announced.
2 - Worth swaying:
When I started this currency was very little value and then stepped up to surpass
At the end of 2013 worth $ 1000 for a single configuration unit, then
Fell 20% after China blocked its circulation is not tied
With gold, or with a government, but with the users themselves and with acceptance
Which will be received by world markets.
3. Newborn:
It is a currency established in 2009 and began to spread about two years ago,
But so far it is not only widespread and desirable, and not only
China stands against it, and Russia also does not accept it, and most have not
