A to Z of Bitcoin
Bitcoin is a digital currency created in 2009. Markets called " Bitcoin exchanges " allow people to buy and sell BITCOIN using different currencies. Bitcoin is a new currency created in 2009 by an anonymous person using the pseudonym Satoshi Nakamoto. Transactions between Quinn are managed and backed by the people themselves and are done without intermediaries, ie the bank. Satoshi Nakamoto in the early days of the Bitcoin network He was with other developers and worked with them to fix software and network flaws, but he disappeared in 2011 and now, about 10 years later, he has not been reported and his identity remains completely unknown. Satoshi Nakamoto can be the name of a programmer or a special group of programmers who work secretly. In these 10 years, many people have introduced themselves as Satoshi Nakamoto with the intention of abusing them, but their claim has not been accepted due to lack of sufficient evidence.
More than thousands of years ago, with the beginning of agriculture and animal husbandry in caves, new problems and challenges arose for them. Early humans hunted animals or used fruits and plants to meet their most basic needs, namely the need for food. With the advent of animal husbandry and agriculture, animal husbandry and the sowing of seeds of edible plants and other crops by humans increased. With the rise of agricultural and food products and the lack of storage facilities to prevent food spoilage in the long run, early humans modernized the exchange of goods for goods, which was the starting point for the emergence of money.
In the exchange of goods with goods, there were problems such as the transportation of goods exchanged or differences in the value of goods for the traded. As an article, a rancher did not know how many bags of wheat he should receive from a farmer for a sheep, and vice versa. All of these problems went hand in hand with human beings looking for intermediary tools to use instead of exchanging goods. This intermediary tool, which changed its appearance many times over time, was called money.
In every corner of the globe, people used the money that came from around them and came from nature. Like stones, salt, etc. For example, at some point in history, people used salt as a means to determine the value of various goods, in some areas stones, seashells and even cotton. But each of these tools had an expiration date, and if a source rich in each of them was found, the tool would be devalued and discarded.
This cycle continued until gold and silver coins came into use. Gold and silver coins survived for thousands of years due to their high durability and difficulty in forging, and in various empires and governments, pictures of their kings were engraved on the coins. Metal coins also had problems such as carrying, which was due to the high weight of the coins. To solve this problem, centers were set up that received metal coins from the people and in return gave paper documents such as today's checks to merchants, and each person could show his coins whenever he needed them. Give his receipts to the centers to receive his coins.
Eventually, these papers gave way to the banknotes we see today. First, the value of banknotes was determined by a certain amount of precious and precious metals. But this is not the case today, and the banknotes we save or buy with today have no backing and are called unsupported money or Fiat. The credibility and value of today's paper money and the figures in your accounts is only the credit of the country and government where the money is printed and distributed. But the question is, where do digital currencies fit into this history of money? And why do we consider digital currency to be a continuation of this cycle?
It must have occurred to you that you have read or heard about digital currencies and their tempting prices. And start searching for its types, especially the king of digital currencies. What are questions like Bitcoin ? What is its use? How to extract free bitcoins and ...
In this article, we want to introduce the BITCOIN digital currency, ways to extract it, and take a closer look at this monetary and technological revolution.
What is Bitcoin or BITCOIN?
Money in digital form is called bitcoin . This definition may be very simple and concise, it may not be a complete definition, and many aspects of it may be overlooked, but it is sufficient as a basic definition.
This digital currency is decentralized and controlled by the people and has no intermediaries. With this currency, you can easily invest wherever you want, or buy online using it, or transfer money to any person you want anywhere in the world.
Who controls Bitcoin ?
This digital currency, unlike other currencies available to us and offered and distributed by the government, is not in the possession of any individual, organ or organization. To use this digital currency, any person can enter this cycle by entering the site and accepting the network rules and filling in the necessary information.
Bitcoin groups are made up of miners, developers, and network nodes, each with their own unique task. Miners are people whose job it is to verify the transfer of BITCOINs, or network transactions. Developers are also responsible for improving and upgrading BITCOIN software. These people do it voluntarily. Network nodes, or devices that are connected to the network, are responsible for storing and maintaining transactions or transfers that take place on the network.
As we have said, this popular digital currency is not controlled or managed by any group, government, body or individual. All parts of the Bitcoin network are managed voluntarily with the cooperation of the above-mentioned groups, which are the users present in the BITCOIN network, and the regular cooperation of these groups, which causes the continuity and higher capabilities of the network and its life and growth. To be. But the question that arises here is why should we trust a system that is not run by any organ or government? What are the advantages of this system over traditional banks and systems that we are attracted to? And ... which we will deal with in the following.
What is the purpose of Bitcoin?
It is a system that restores money control to the people themselves, and each user has a confidential password, and only the owner or the user is able to spend or transact with them. According to the definition, the goal of the Bitcoin system is to set up a secure system for secure payment, storage or transfer, and digital banking. Another goal is to launch BitcoinSolving the problem of "spending twice" digital money. Spending twice was a problem in online shopping. For example, you can not use the same banknotes you used to buy a cell phone to buy a TV again. But in the digital world, this was not the case, and with one click and copying the file, you could buy twice at the same time in two separate places, and until the sellers realize that you have made your purchase. Before the advent of digital currencies, there was a central organization to check the inventory of individuals to prevent this from happening. With the advent of digital currencies, the organization was abolished, and since then, transactions and accounts have been reviewed by all members of the network, and Bitcoin has solved the problem of double spending and people's distrust of each other.
Why did Satoshi Nakamoto keep his identity secret?
As you can see, Bitcoin has unique features that make it a serious competitor to big banks and financial institutions. Therefore, it is natural that there are many enemies who intend to destroy and suppress the person or persons who build this network. Satoshi Nakamoto, if his identity was not kept secret, would be exposed to many dangers, including arrest, assassination, etc., and many dangers would be faced by this person or the bitcoin- making group . We also said at the beginning that Bitcoin is not controlled and managed by anyone and is completely decentralized. So if Satoshi Nakamoto's identity is not hidden, he will no longer be a bitcoin maker It was not anonymous, and Satoshi Nakamoto's ideas and opinions greatly influenced the development of the network and could take it out of its decentralized state.
Was Bitcoin made by the NSA?
One of the most controversial hypotheses today is about the identity of the maker of digital currencies. Some believe that the identity of the bitcoin planter goes back to the US government. They believe that the King of Digital Currencies hypothesis is a pilot project developed by the US National Security Agency to bring the digital currency to fruition at the appropriate time and with the space available, and to be fully controlled by the US government itself. . This hypothesis was repeated by one of the founders of Kaspersky Security Company. But there is still no definitive answer in this regard, and it is not clear how true this is.
Satoshi Nakamoto's identity is still unknown
Because of the use of NSA-designed functions in bitcoin encryption, and the possibility that Satoshi Nakamoto is the one who owns more than one million bitcoin coins, it casts doubt on skeptics and those interested in conspiracy theories. But if we look at it from another angle, if this digital currency was created by the US National Security Agency, it would be completely useless and the worst possible thing to do. Because creating a digital currency that no one can control can be of no use. On the other hand, it does not matter who or what Satoshi Nakamoto is, because everyone can see the Bitcoin software code, and the rules are clear to everyone, and if someone wants to make a mistake, the network will stop working. They become.
Bitcoin is not anonymous
Efforts are needed to protect your privacy with Bitcoin . All transactions in this digital currency are stored publicly and permanently on the network, which means that anyone can see the balance and transactions of each bitcoin address . However, the identity of the user behind the address is unknown until the information is disclosed at the time of purchase or otherwise. This is one of the reasons why the bitcoin address should only be used once. Always remember that it is your duty to adopt good practices to protect your privacy.
What is its backing?
Bitcoin, like other currencies in the world such as the dollar, the euro, etc., or even gold and precious metals, has no backing and its credibility is the people. For example, the banknotes that we exchange on a daily basis have gained identity and value because of the hand-spinning. Therefore, the support of Bitcoin, like other currencies, dollars, jewelry, etc., is the trust of the people and its value among the people, and the more popular it is, the stronger and more reliable the support will be.
On the other hand, people use this currency more for investment than their purchases and payments, and this creates another view that Bitcoin, in addition to playing the role of money, can be used as an asset that can be valuable. It is also used to maintain itself over time. Bitcoin is like gold, which has kept its value almost constant over time in relation to basic commodities such as food, clothing, etc. Accordingly, this digital currency can be considered an asset and investment. Now let's look at how bitcoin is valued and who determines its price.
How is it valued?
Just as the value and price of gold, euros, dollars, etc. are determined based on supply and demand, the price of bitcoin and its value in exchange offices and brokerages are determined according to two factors of supply and demand. In this way, with the increase of supply relative to demand, prices have a downward trend and decrease, and vice versa, with increasing demand and increasing people's desire to buy and lack of supply, prices increase. The price also balances when supply and demand in the market are equal.
Bitcoin is a digital currency with a fundamental value, the amount of which is determined according to the network status, the cost spent by miners for a unit, and so on. Finally, according to different valuation methods, the final price of Bitcoin is determined by the supply of miners and the demand of investors.
What distinguishes Bitcoin?
The most important positive feature that distinguishes Bitcoin from other physical and digital currencies, investments in banks, etc., is that there is no limit to the transfer and spending of Bitcoin and its amount, and you do not need to earn to withdraw Not allowed by banks or other institutions.
No one is at the helm of network power
In centralized systems, control of money is in the hands of governments and banks, and when you go to the bank, if the payment system has a problem, your work will be delayed and you will have to wait for hours and be delayed. In centralized systems, banks have access to your account and can block your account at any time. The centralized systems of each country's monetary system can at any time impose sanctions on another country and remove it from the financial transfer cycle. But the decentralized bitcoin system is not only not controlled by any individual, group, organization, government, etc., but also takes the power of creating and producing money out of the hands of banks and returns it to the people. In a decentralized system, the rules are clearly contained in the programmed code, and any member of the system can use it voluntarily, and in fact all the people active in that system monitor the transactions.
Limited number of coins made
Unlike governments and central banks, which can print money indefinitely and thus devalue their national currencies, this is not the case with Bitcoin, although everyone is allowed to participate in the creation of new currencies. But the number of coins that can be made is up to 21 million units, which is also stated in the rules of the network. Bitcoins are generated during the mining process. This process can be seen in the images of tired miners destroying ores with shovels and pickaxes and removing B-marked coins from the heart of the rocks. But the bitcoin process is not like the images that exist and is completely different. The extraction of this digital currency is gradually decreasing and therefore the extraction of new units becomes more difficult. This restriction on extraction and more difficult extraction of new units can be considered as one of the important reasons for the increase in the value and price of Bitcoin.
Bitcoin mining restrictions
The limitations of bitcoin mining, which make it valuable and chemical, are in contrast to the inflationary nature of today's currencies, which with the creation of more banknotes, inflation increases and the value of that country's currency becomes less and less. It is also a restriction on extracting a tool that can store the value of bitcoins over time, so that investors have increased their interest in buying this currency and have dubbed it digital gold.
Can not be forged
Another advantage of this digital currency over other paper money and banknotes is that it is non-counterfeit. As we have said, the total number of Bitcoin currencies is limited to 21 million units, and no one is able to fabricate and counterfeit transactions on the network, and no digital currency can enter the network outside the rules of the network or attempt to steal bitcoins. Other people's Quins are slow. And this non-forgery of this network is due to special encryption techniques and tricks such as private key and public key in which it has been used, which has led to the existence of something called counterfeit bitcoin . Note that if Bitcoin was a digital file that could be copied and you could easily create as many new files as you wanted by copying, this system could also be forged.
How does BTC work?
As a new user, you can get started with Bitcoin without understanding the technical details. When you install a Bitcoin wallet on your computer or mobile phone, it generates your first BITCOIN address and you can create more whenever you need it. You can reveal your addresses to your friends so they can transfer coins to you or vice versa. In fact, it 's almost like email, except that bitcoin addresses only need to be used once.
What is the Chinese block?
It is possible to keep transaction information in Bitcoin by blockchain. The blockchain is a digital notebook on which the entire bitcoin network relies. All approved transactions are included in the China block. Allows Bitcoin wallets to calculate their spending balance so that new transactions can be reviewed, thus ensuring that they actually belong to the sponsor. The integrity and chronology of Black China is encrypted. The concept of blockchain is broader than bitcoin, and if we want to show this difference and complexity with an example, we can say that blockchain is like the Internet and bitcoin is like Google search engine.
How are transactions done?
The transaction is a transfer of value between a Bitcoin wallet located in the Chinese blockchain. Bitcoin wallets hold a secret piece of data called a private key, which is used to sign transactions, providing mathematical proof obtained by the wallet owner. The signature also prevents any person from changing the transaction after it is issued. All transactions are broadcast on the network and are usually verified within 10-20 minutes through a process called mining.
Bitcoin transactions are non-refundable, can only be refunded by the recipient. This means that you have to be careful to do business with people and organizations that you know and trust, or have a direct reputation. Businesses, in turn, need to follow up on payment requests they make to their customers. Bitcoin can detect symptoms and usually does not allow you to mistakenly send to an invalid address, but it is best to have controls for extra security and redundancy. Additional services may be available in the future to provide more choice and protection for both businesses and consumers.
Where does Bitcoin come from?
New BITCOINs are generated through a competitive and decentralized process called "mining". This process involves people being rewarded for their services from the network. The bitcoin miners are processing transactions and securing the network using specialized hardware, and instead the miner who succeeds in clearing the block and solving the block math puzzle sooner than the other miners will be rewarded with the equivalent of network currencies, ie bitcoins. Kevin will receive. Miners' rewards from two transaction fee sources specified by users. And the reward of the block that is given to the extractor who removes that block after solving each block. Bitcoin transactions are not free and users have to set a certain amount as a fee and commission to attract the attention of miners. The higher the transaction fee, the more miners are interested in it.
What factors determine its price?
As we have said, the price of bitcoin in the general and normal state of the market is determined by the amount of supply and demand. But other factors also affect the rate of decrease or increase of bitcoins . For example, legislation such as banning the extraction, purchase or sale of bitcoins in one country could affect its global price. Developers' decisions and status, natural and abnormal events and happenings, etc. affect BITCOIN price fluctuations.
Also, the digital currency market fluctuates a lot due to being at the beginning of the road and not having enough maturity, and on the other hand, sometimes there are drastic changes in the supply and demand made by whales. Whales are big investors who, due to the large amount of bitcoins they operate in the market, cause sharp price fluctuations. The activity of whales in the market can be compared to the movement of whales in the ocean, which causes severe turbulence around them.
Reasons for the increase in bitcoin prices
Some of the factors mentioned above can have a positive effect on the price of bitcoin in the market. For example, futures contracts and ETFs can attract the attention of large and diverse investors. Positive legislation in this area can also have a positive effect on the price of bitcoin. Also, since the king of digital currencies emerged in the 2008 financial crisis, any situation that has led to economic instability such as civil wars, rising and uncontrollable inflation, and geopolitical issues in the world, whether you like it or not, The digital currency side attracts bitcoin as a tool that has the ability to store value.
If we want to take a general look at the issue, the factors affecting the decrease in supply and increase in demand can be the reasons for the increase and growth of bitcoin prices. The amount of production and release of bitcoins in the network is out of the hands of miners and other people, and the amount is written by the miners in the network rules. According to the rules written in the network, the extraction rate is determined every ten minutes for a period of 4 years, so the factor that can affect the supply of bitcoin is the entry of the extracted coins into the exchange offices and the place of purchase and sale. As a result, when the price falls below a certain amount, miners 'costs to obtain bitcoins increase and miners' sales decrease. Other reasons such as the acceptance of bitcoin by people and prominent businesses such as Amazon, Apple, etc. as a method of payment can also increase demand and increase the price of this digital currency.
Reasons for lower prices
In contrast to the factors affecting the price increase, there are other factors such as announcing bans on extraction and sale, news of the rejection of financial products such as ETFs, etc., which reduce the price of this digital currency. On the other hand, due to the correlation of Bitcoin with stock markets and the possession of a large part of Bitcoin by institutional and large investors, with a downward and uncertain trend in stock markets, the price of Bitcoin is falling.
Accurate price forecasting is almost impossible! Do not be fooled by predictors!
Forks or separations that occur due to conflicting decisions of developers also have a negative and negative impact on the network trend and the price of digital currencies in the long run.
Apart from the above, the most important and influential reason for the decline in the price of this digital currency can be the fear of traders and their investors due to the prevailing psychological atmosphere in the market, such as the movement of whales and their deliberate reduction of currency prices with the aim of withdrawing the transaction. Known small expensive in the market.
The first data on the Bitcoin price chart dates back to mid-2010, when it traded at a price close to one cent ($ 0.01). This digital currency has witnessed upward price cycles since its inception
According to the chart below, the first data on the Bitcoin price chart is from mid-2010, when it was trading at the approximate price of one cent, which is equivalent to $ 0.01. BITCOIN has had several ups and downs in its price cycle since its inception. According to the same procedure, in the periods when we see an increase in price and an upward trend in the chart, it is called an ascending market, and in the periods when we see a decline and price decrease in the chart, it is called a descending market.
According to the chart above, the first uptrend in the period from 2010 to mid-2011 is when the price of Bitcoin has risen from one cent to $ 30 and we have seen a 3,000-fold increase. Following this astronomical increase, we see a sharp decline of 95% from $ 30 to $ 2, which started approximately in mid-2011 and continued until the end of the same year.
From late 2011 to the end of 2013, we see a second uptrend from $ 2 to $ 1,200 with a 600-fold increase. Following this sharp growth from late 2013 to late 2015, we see a sharp 86% drop in prices to about $ 165.
The third uptrend begins in early 2016, pushing the price of Bitcoin to $ 20,000 by December 2017. But this 100-fold price growth has stopped with the arrival of 2018, and now, 2 years after registering the highest price, it is struggling to break the previous price record and create a new uptrend cycle.
Is it intrinsically valuable?
Intrinsic value is a philosophical concept and its value cannot be compared to an asset. Some critics believe that digital currency has no intrinsic value and consists only of binary zeros and ones. Gold as an asset that has maintained its value over time and has been and is valuable from the beginning of history to the present day is the best example as an asset. Due to some features such as limited and impossibility of counterfeiting, Bitcoin can be considered as an intrinsic value tool and even compared to the intrinsic value of gold. In 2019, 190,000 tons of gold was mined underground and about 54,000 tons remained intact underground. To compare the value of gold reserves with bitcoin, if the world's total gold reserves are 244 million kg, with a relative and approximate valuation, each bitcoin must have an intrinsic value equal to 11.6 kg of gold.However, this valuation is a relative criterion and is not a good criterion for calculations.
Why should I buy bitcoin?
It must have happened to you many times that when someone around you talks about bitcoin and related issues such as profits and income, etc., you subconsciously spark in your mind whether I should buy bitcoin too. And count on investing in it so as not to fall behind the caravan?
To answer this question, it is enough to take a look at the ever-increasing chart of Bitcoin digital currency in the last few years to realize that Bitcoin is much more valuable today than in the past. But this upward trend is misleading many people. And when they hear the daily increase in the price of bitcoin from people and the media, they buy at the peak of the price. And this causes huge losses or loss of capital.
So to avoid losing and losing your capital, you should refrain from buying when everyone is rushing to buy bitcoins. Also, before buying and investing, it is better to know Bitcoin well first and clear all your mental ambiguities about it, and by weighing all aspects, if you are sure that investing in it has the potential to become money and achieve your goals. Buy it at the right time.
What can you do with Bitcoin?
The use of bitcoin in many stores, restaurants, etc. is increasing worldwide. One of the advantages of this popular digital currency is that it can provide purchases for countries such as Iran that are under financial sanctions without the need for PayPal or credit cards, etc. For example, Iranian users can easily purchase namecheap domains, video games and other services through Bitcoin. Below we introduce a number of these companies, hotels, restaurants, etc. that have made it possible to pay with Bitcoin.
Travel and tourism
Telephone and tourism. Thousands travel daily in and out of the country. Some companies went a step further to trade and pay for their travel transactions using Bitcoin.
Expedia is one of the largest travel booking agencies and you can now pay for Bitcoin as a way to book hotels online through their website. Their payment channel supports Coinbase and now accepts bitcoins.
In addition, companies like CheapAir also accept airline bookings via Bitcoin. They started as the first creators of Crypto and put it to realistic purchases for their users. Although all seats are now reserved, Virgin Galactic, consisting of Richard Branson, will guarantee space travel in the future by paying for its bitcoin space travel seats. This is a futuristic jazz band that we thrive on.
Food and drink
Craving for pizza but it didn't change? Pizzaforcoins is a California-based service that lets you buy pizzas from major pizza chains such as Papa John, Pizza Hut and more, and use bitcoins. This platform works in a way that allows you to enter your location, and shows the pizza locations in your neighborhood. When you select and set the order, after paying the amount that also appears in BTC, it will be transferred to the relevant restaurant. Due to its integration with Shapeshift, you can now pay using up to 50 currency cryptocurrencies. You can have the pizza delivered to you or pick it up on the spot.
If you are not based in the US, you can order German food service from Lieferando.de with over 11,000 restaurants. It has recently added payments via bitcoins. It uses Bitpay to process its transactions, thus allowing you to pay for your food in cash in bitcoin or bitcoin.
Another food delivery service in Russia, with more than 90 restaurants in its partners, has added cryptographic payment options to its payment options. However, before the option was added, none of the restaurants supported crypto separately. So, this is a big step in the right direction for food lovers and crypto enthusiasts.
game and fun
Among the big players in the industry, the Xbox and Windows Store allow you to use bitcoins as a payment method to buy games, movies and more. You can upload bitcoin to your Microsoft account and use it as a payment method whenever you declare. However, a small precaution is that you can not repay the bitcoins you deposit, so just pay attention to the amount uploaded to your Microsoft account.
For smaller niche players, you can also buy games and redeemable gift cards from various operating systems such as BitPlaza, Coinmall and Zynga. These platforms allow you to pay for your game using Bitcoin as money.
Shopping and other items
With the increasing popularity of digital currencies in general and bitcoins in particular, many stores have added cryptographic payment options to their website. Etsy, a world-renowned e-commerce platform, allows sellers to identify bitcoin as a way to get payment from their buyers. In addition, Blockonomics has partnered with WordPress to help it integrate Bitcoin payments on its website so that people who have websites using WordPress can get Bitcoin payments from buyers. Accept yourself by using Bitcoin simply by adding the relevant plugin to your website.
Bitrefill, a platform that allows you to buy coupons from top US food chains such as Cheesecake Factory, Chipotel, Dunkin 'Donuts, Burger King and more using Bitcoin. Your favorite food chains with your favorite payment method. You can also buy gift cards for gaming operating systems such as Steam, Xbox and Nintendo. Likewise, operating systems such as Gyft and BitPlaza allow you to buy almost anything from personal accessories to groceries and gift cards and pay with Bitcoin.
Reed Jewelry, a well-known name in the American jewelry and accessories industry, has stores in more than 13 states with an online presence. In both physical and online stores, Reeds accepts bitcoin as a form of payment. You can buy watches, jewelry, diamonds and more.
Another major player in the buying industry is Overstock, which accepts bitcoin as a form of payment. Not only that, the CEO of the mentioned public company has a common interest and desire for business with blockchain-based companies. Overstock also conducted the ICO in 2018 to rebuild its business and raise more than $ 250 million, one of the highest funds raised through the ICO.
Dish, a television and satellite service provider and Internet service provider, launched Bitcoin payment options in early 2014. You can purchase a one-time subscription through their website. They previously used the Coinbase integration to accept Bitcoin payments and have now moved to Bitpay as their transaction processing manager.
A company called Bitcoin Real Estate lets you buy and purchase real estate using Bitcoin. You can go ahead and register your home on the global platform and make purchases using digital currency. Prices include US Dollars or Euros or equivalent terms for Bitcoin.
If you want to do good deeds and help people, you can do it with Bitcoin. The Binance Charitable Foundation, among others, also accepts donations in Bitcoin. They also use blockchain power to provide transparency to donors to see where their charity is heading.
Companies like APMEX and JM Bullion allow their users to buy gold, silver and similar precious metals through their website and pay for it by accepting bitcoin. However, purchases are limited to about a quarter of a million dollars.
Bloomberg and Chicago Sun-Times are among the online news platforms that offer bitcoin as an option to pay for their subscription model. Likewise, Treehouse, an educational platform, accepts bitcoin payments for its courses.
Among some notable innovations in the use of Bitcoin for payment is the contactless card provided by BitPay, a payment processing company for cryptocurrencies. This card is offered as a Visa card, which allows you to convert bitcoins and bitcoin cash into US dollars or whichever is the local Fiat in your country. However, it is currently only available to US residents, allowing you to use regular credit cards just like regular Fiat-backed credit cards.
Many other websites that now have the ability to use bitcoin include the following. Note, however, that the use of bitcoin is not limited to the following:
- OKCupid Dating Site
- CheapAir Travel and hotel reservation agency
- PizzaForCoins Pizza Delivery
- Zynga apps and mobile apps
- Etsy (e-commerce, some Etsy sellers accept bitcoin as payment)
Barriers to Bitcoin Acceptance in Businesses
One of the most important barriers to bitcoin not being accepted by businesses is the slow transactions that customers need to confirm. Lightning network is one of the available solutions that use it to speed up transactions.
Increasing demand for bitcoin
Since there is a limited amount of bitcoins and will no longer be created after 2040, getting on the ground floor can be a great idea (not to mention, it will help diversify your shopping cart).
It is also rumored that this digital currency will one day (and possibly soon) be bought by the government to be stored like gold reserves. While this can have many negative consequences, it also means that limited bitcoin will suddenly be in very high demand.
How to buy BTC
There are many ways to buy bitcoin such as credit cards, online accounts, sites, real people and .... Make sure there is a reputable vendor in whatever way you intend to buy Bitcoin . You will also be asked for authentication with documents when purchasing BITCOIN to prevent fraud and money laundering.
Why do people buy BTC ?
The price of bitcoin is affected by supply and demand. There are three main reasons people buy BITCOIN.
- Speculation: They think this will increase the price and want to sell it later at a profit. This theory is because there will never be more than 21 million BTC, but rather a good collection.
- Payment They want to use it to pay. Bitcoin can be a challenging (but cheaper and faster) way to make international payments than other currencies.
- Economic diversity They think the design of the Bitcoin network means that this digital currency is more secure than government currencies such as the US dollar. They are concerned about government fiscal policies, and worrying elements such as national debt and inflation are devaluing government money, while bitcoin is not ineffective. The theory is that by keeping some money as BITCOIN, they can still have money, even if their government collapses. As a result, bitcoin is more popular in countries with political instability than in stable areas. Some investors also believe that this is a valuable addition to their portfolio in small amounts, because other markets, such as stock exchanges, forex markets and commodities, are all close together and at risk of falling all at once. However ,Bitcoin network is considered separate from other markets.
How Bitcoin BTC China Blockchain Network Works
The Bitcoin network was the first example of the blockchain we know today. This is called a blockchain because it can be viewed exactly like a set of blocks that are chained together.
How BTC works
Bitcoin transactions are available in the blocks themselves, and because they are chained, the blocks can be easily processed in an organized manner. This allows the BTC network to maintain a complete record of all transactions.
In the case of the Bitcoin blockchain, an average of one new block is created every 10 minutes. Whenever a person logs in, the Bitcoin network automatically checks all the transactions in it, sends those payments to the correct recipients, and records all the details of those transactions in its ledger.
The most up-to-date version of the booklet is delivered along with the deals on the home page.
Finally, you can think of the Bitcoin network as a kind of payment robot. If you want to send money to anyone anywhere in the world, you can use the BTC network to send them bitcoins instead of going to the bank .
Bitcoin network is a robot because :
There is no chance of stealing your money
You do not need to make a profit and it will not charge you more than necessary
Do not confuse numbers, numbers and amounts.
He will never lie
This system is what gives Bitcoin its value. Because it is fully automated and keeps a flawless record, bitcoin counterfeiting is also impossible and you can be 100% sure that there will only be 21 million coins in it.
Buy and hold bitcoins
Buying bitcoin and holding it in the hope that it will increase in value is the most common form of "investment". Like all investments, you should never invest more than you want and can afford to lose. This is especially true of BITCOIN, as it is still a very risky investment.
How to maintain it?
Your personal wallet is the best option for storing, transferring and receiving BTC. Each user can use their mobile wallets, desktop, web, etc. according to their conditions and needs. And to store or maintain bitcoins, you do not need to open an account in any bank or institution, and in this network, you are your own bank and control of everything is in your own hands and no one but you has access to your account.
In Bitcoin , due to the fact that the network is not monitored by another organization or body, it is not possible to return transactions, so do not forget to back up your wallet to keep your transactions and retrieve the words in a safe place that is available to others. Save people so that if there is any problem for the device on which your wallet is installed, you can recover your money and transactions on another device.
Is Free Bitcoin Real?
It is true that getting anything for free is fun, especially if it is like gold or any other valuable object. BITCOIN is also a valuable virtual object. There are many advertisements for earning free bitcoins in cyberspace and they encourage you to do these methods instead of other methods. But let us assure you that all this is nothing but a waste of time and scams by profiteers who have no intention other than to deceive you with these ads.
What is a 51% attack?
A 51% attack is an attack in which the attacker controls more than half of the network power. As we have said, the confirmation of transactions in the Bitcoin network is in the hands of miners or mining devices. Therefore, if the attacker takes control of more than half of the power of these devices, it is likely that the rate of transaction approval and block building by one person will increase.
The issue of security has been central to Bitcoin since its inception. On the one hand, hacking BITCOIN is very difficult, and this is mainly due to the blockchain technology that it supports. Since blockchain is constantly being scrutinized by bitcoin users, hacks are not unlikely.
On the other hand, just because BTC is difficult to hack by itself, does not necessarily mean that it is a safe investment. There is potential for security risks at various stages of the trading process.
Mining bitcoin is like digging for gold online - hence it is called mining. With paper money, a government decides when to print and distribute money, but bitcoin does not have a central regulator, which is what allows anyone to start mining.
BTC miners use special software to solve math problems (your computer must find the right 64 combinations correctly) and issue a certain number of bitcoins in exchange for solving them correctly.
But do not worry, the endless number of BITCOINs is not just floating in cyberspace. Once there are 21 million units, it can no longer exist.
Solving these puzzles is not easy and as I said above, you need special software. It's very difficult, that many people can not do it alone. Instead, "extraction pools" are created in which groups share their computing power, and after solving the puzzle, the winners are divided according to the amount of computing power. Do not think that bitcoin mining is an easy way to get rich. It is possible that you will need to pay more for specialized computer equipment than the bitcoin you can use!
Can you destroy bitcoins?
Governments cannot destroy bitcoins themselves because of their decentralized nature. However, they can control and limit its use within their competence. For example, they can close the bank accounts of cryptocurrencies and be barred from doing any related business.
Is Bitcoin a bubble?
Some may consider bitcoin as a bubble because of its rise and fall, but the reality is that these ups and downs happen periodically. Now, to prove that Bitcoin is not a bubble, let's compare it with the biggest economic bubbles of the past.
A sharp rise in prices often misleads some economists and analysts into seeing the asset as a bubble, when it does not necessarily.
400 years ago, the madness of buying tulips in the Netherlands increased the price of tulips by 200 times. The tulip bubble burst after a short time due to the short life of the flowers and their lack of use, along with their abundance, and returned to their original state.
The second bubble that emerged in the early 21st century due to the Internet becoming the biggest phenomenon is the .com bubble. Many companies entered the stock market at that time. These start-ups gradually became worth millions of dollars with people's investments. But after the bubble burst, many of these companies went bankrupt, and only a few survived, such as Google and Amazon, and after decades, gradually became technology giants in their field.
But considering the two examples of past economic bubbles, it can be concluded that Bitcoin is not comparable to the tulip bubble. Because this digital currency is more durable and its number is limited and its use is increasing day by day. But in the case of the .com bubble, like the start-ups that came to power in vain, there are always so many coins and tokens now, many of which will have no place in the future.
What happens after all the bitcoins are mined?
According to the 4-year Hawing period, by 2140 all bitcoins will be mined and there will be no new bitcoins to be mined. But in response to the question of what motivates miners to be active with this event and why should they continue to extract bitcoins in the present? That is, miners receive other rewards, such as commission for each transaction, in addition to the reward they receive for mining. Also, the reward of bitcoin mining will be drastically reduced in the next 20 to 30 years, so that it will no longer have a value against the transaction fee, and little by little, the profit from bitcoin mining will be obtained from the transaction fee. Finally, with the end of bitcoin mining, miners are acting as transaction confirmers in the network.
Why should I trust BITCOIN?
The best part about Bitcoin is that you do not need to trust anyone. This software is open source, so you can go through it and verify everything as stated. All transactions can be viewed and consulted in real time from the beginning. No job or person controls BTC, so there is no one to trust. Any transaction is protected by the best cryptographic methods on the market to prevent tampering.
How to buy bitcoin ?
To buy BTC, you must first install your Bitcoin wallet . Then find an exchange site or a reputable seller and after completing the authentication step with identification documents by transferring money to the seller card buy your bitcoins and to send them by the seller give your wallet address to the seller to bit Kevin will transfer to your account.
️ whether BITCOIN legal?
Laws regarding the legality of BITCOIN are different in different countries, but currently Bitcoin is recognized as an industry in Iran, and people who apply for mining must apply for a license.
هموار شدن راه رسیدن قیمت بیت کوین به ۲۰٫۰۰۰ دلار در پی شکسته شدن مقاومتها
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هشدار تحلیلگران در مورد اصلاح قیمت بیت کوین پس از رسیدن آن به ۱۸٫۰۰۰ دلار
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تنها ۳٫۴ میلیون بیت کوین دیگر باقی مانده است ؛ دو برابر شدن قیمت ارز بیت کوین بعد از هاوکینگ
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نوشته کارمزدهای بیت کوین به بالاترین سطح خود از سال ۲۰۱۸ رسیدند! اولین بار در Mychangers. پدیدار شد.
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نوشته بانک سازندگی چین اعلام کرد که به زودی اوراق قرضه قابل معامله با بیت کوین عرضه میکند اولین بار در Mychangers. پدیدار شد.
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نوشته احتمال ادامه روند صعودی شبکه بیت کوین اولین بار در Mychangers. پدیدار شد.
انتقال ۳۰ میلیون دلار ارز دیجیتالی بیت کوین از زمان ساتوشی ناکاموتو
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طبیعیترین رشد قیمت بلاک چین بیت کوین ؛ تحلیلگر مشهور: اصلاح شدیدی رخ نمیدهد
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