What are bitcoins?
Bitcoin is a virtual currency (or cryptocurrency) that allows users to transfer money or make anonymous payments without depending on a central bank or government. They can be purchased for real money and they can be stored digitally. they can store digitally in Smartphones, computers and even wallets on the Internet.it contains private key like in hive we use to access on their digital money or digital assets.
what's a blockchain?
It consists of a public address and a completely autonomous, meaningless transaction ID. The blockchain is not controlled by anyone, but it is controlled by all computers on the network, so we can say that it is almost impossible to be hacked or tampered with.people send bitcoin from account to another account these trancation recorded on the blockchain.
Who Created Bitcoin And How Many Are There?
It was created in 2009 by a person who used the pseudonym Satoshi Nakamoto. The reason for its creation is the decentralization of currency. It was originally adopted on the dark web (that secret site that does not appear on the search engine) and has gained popularity in recent years. There are 19 million Bitcoins in circulation, and the total amount is capped at 21 million. The smallest denomination (satoshi) is accurate to nine decimal places. they also add some other bitcoins by simply with the help of mining(a process through new bitcoin enters in market by solving some mathematical questions)
How does value change?
Bitcoins are valuable because we believe they are valuable the difference is that we know that they are very few (only 21 million), and unlike physical money, there are more . Traders all over the world accept it more and more, and its value will increase.when some famous personality getting involve on this the value of bitcoin increase
*** *How do people make money?****
in the past few years thousands of cryptocurrencies with various use cases have been created. bitcoin value in cryptocurrency market is 40% to 50% and Ethereum accounts for 20%. The remaining market capitalization consists of more than 10,000 different market capitalizations. Some people buy certain cryptocurrencies and hold them for several years until their value increases exponentially, and then sell them to other believers who believe their value will soar. Imagine buying Bitcoin for $100 in 2013 and selling it for $80,000 today. Use cryptocurrency to make money on cryptocurrency exchanges.
