Bitcoin (BTC) is a cryptocurrency that appeared in circulation in 2009. It was created by Satoshi Nakamoto. Although, until today we do not know in 100% who this person is (or maybe it is a group of people).
Anyway, Bitcoin is a specific currency that anyone can "mine" on their own hardware (usually some Graphic Cards with huge computing power). Bitcoins are divided into smaller units called satoshi (one bitcoin is 100,000,000 satoshi).
Storing this cryptocurrency is quite simple, because this coins are simply stored on the owner's personal computer in a special wallet or they can be stored in special portfolios, created on external websites. If we want to perform transactions via bitcoin, we simply "transfer" them from our portfolio to the portfolio of the second participant.
Bitcoins have been gaining in value since their creation. And in fact, no one knows how much the true value of it is. However, it must be admitted that Bitcoin currency is becoming more and more popular. Also the use of it is being accepted by increasing number of companies and even countries as a means of payment.
Bitcoin's popularity is also related to another fact. It is not controlled by any bank or other type of financial institution, and its value is determined solely by the rules of demand and supply (although supply is limited here, as it will be possible to mint a maximum number of 21 million bitcoins).
Bitcoin is often said to be the currency of the underground world (mafia, gangs, etc.) because transactions can be carried out that are not controlled by any supervisory authorities. However, as data supports it, such transactions are just a margin, and the vast majority of transfers are "normal" payments, exchanges, etc.
What does the future of bitcoin look like?
Hard to say. Most people say that it has a bright future and that over time, it will replace the payment means we currently know. However, some specialists say that the currency will be devalued after a while, and those who have it will lose only the funds they have allocated for its purchase. The truth is surely somewhere in the middle and time will tell who side was more right
What do you think about Bitcoin? Let me know in the comments below!
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