Have you known with the Bitcoin and Its features?

1. Have you known with the Bitcoin and Its features?? and How it has become the most usable cryptocurrency?? Here is the information regarding the Bitcoin if you are not known to this cryptocurrency. At short Bitcoin has been created as a medium of exchange without a central bank or any kind of bank issue involved in it. The transaction of this crypto is supposed to be private, which is anonymous. Furthermore, Bitcoin has no real-world existence this exists only in the computer software, Bitcoins are not printed like the fiat currency it is just created by the computer by using some software. Nowadays gambling with bitcoin has become new trends for the players to play anonymously, as many casinos have brought this option. Bitcoin was introduced as open-source software by an anonymous programmer, or by a group of programmers, it is invented by the Satoshi Nakamoto in 2008. However till today, no one could identify who is he, or anyone with this name actually exists or not. It is possible to trade the real good or fiat currency for the Bitcoins. Naturally, the proponent of this cryptocurrency who got the benefit along with the Bitcoin growth insists loudly that it “Bitcoin is money”. But the question is being that is it really money or not as compare to fiat money. The essential attributes of the money are : • • • It is a stable store of value Money is numeraire Money is a medium of exchange Compared to the fiat currency the bitcoin is not bad, fiat is acceptable at a geographic domain but the bitcoin is acceptable internationally. So the bitcoin is being used for the transfer of goods & services as due to its fastest and also anonymously feature. Bitcoin is a decentralized currency that means no authority is controlling the Bitcoin network it is being maintained by a group of volunteer coders and is it run by the dedicated computers spread all over the world. It attracts the people to transfer the money who don’t want any intervention of the bank or any other authority on their transaction. The supple of the Bitcoin is tightly controlled by the underlying algorithm. A small number of Bitcoin is trickled out each hour and it will continue to do so at a diminishing rate until this will reach the maximum limit of 21 Million. This makes bitcoin more attractive as the theory – if demand grows and the supply remains the same, the value will increase. The smallest unit of the Bitcoin is known as Satoshi, it is one hundred million Bitcoin i.e. (0.000000001) according to the present rate which is about one-hundredth of a cent.

2. One more fact about the Bitcoin is that in this cryptocurrency, the transaction is not reversed like fiat electronic transaction. And this is so because there is no authority to say “Okay, return the money”. If the transaction has been recorded and more than one hour has been passed then it is impossible to reverse the payment. Today Bitcoin has become the most famous cryptocurrency it is being used in the trade to buy goods with fast transactions and casinos to play the anonymously just with the use of email and your password.