2023-07-08 10:00:13
Bitcoin: a decentralized cryptocurrency
Bitcoin is a decentralized digital currency, exchangeable online without going through a central bank. It was created in 2009 by a mysterious developer known as Satoshi Nakamoto, whose identity has never been revealed. This currency uses Blockchain technology, which is a public and immutable record of all transactions made with this currency. Blockchain also makes transactions more secure and reduces the risk of fraud.
According to the source, currently there would be approximately 18.5 million Bitcoins in circulation, for a maximum of 21 million provided for by the protocol. This limit guarantees its value, but also makes its volatility extreme.
A global store of value
Some experts believe that this currency could take the place of certain national currencies and become a real store of global value in the future.. The scarcity of Bitcoins (their number is limited) and the fact that they can only be created by a complex computer process, make them a valuable long-term resource.
However, Bitcoin’s price volatility is a major impediment to its adoption. Indeed, the price of Bitcoin can vary considerably over a short period, and it is almost impossible to predict its evolution over the long term.
Due to this volatility, Bitcoin is often viewed as a speculative investment rather than a means of payment. People who want to invest in it should be aware of the risks and exercise caution.
Use of Bitcoin
Although its use remains limited, this cryptocurrency can be used to carry out online transactions. Merchant sites are gradually starting to accept Bitcoin as a means of payment. Bitcoin transactions are generally faster and less expensive than traditional banking transactions.
However, the use of this virtual currency remains marginal, and there is still no generalized system for its use. People who want to buy, sell or store Bitcoins must have an electronic wallet. This wallet allows you to store and manage your Bitcoins securely.
Bitcoin can also be used to donate to charities, to transfer money across borders, or to purchase goods and services online.
The controversy around this virtual currency
Bitcoin has been criticized for its potential use in illegal activities, such as money laundering or terrorist financing. Indeed, cryptocurrency transactions are extremely difficult to trace, which makes it an attractive currency for criminals.
Despite the criticisms, Bitcoin continues to attract many investors and tech enthusiasts. Cryptocurrency has demonstrated its potential and remains an important player in the digital currency market.
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