What Is Bitcoin And More Questions?
Some financial experts say that Bitcoin will be the future's currency. I agree because it is what money is not. So what exactly is bitcoin? Bitcoin is technically described as the first decentralized digital currency, also known as crypto-currency. It was created by Satoshi Nakamoto in 2008. The keyword here is digital and that is what differentiates it from the physical money that we are familiar with. There lots of other digital currencies but bitcoin accounts for the largest share for these type of transactions. Each bitcoin identified by the currency symbol BTC, can be divided up to 8 decimals. The smallest unit being 0.00000001 bitcoin is called a satoshi in honor of the inventor. In between a bitcoin and a satoshi there are two other smaller units. The millibitcoin which is equivalent to 0.001 bitcoin and the microbitcoin which is equal to 0.000001 bitcoin, also called a bit. Bitcoin transcends sovereign boundaries and it is available to anyone who wants to use it, anywhere i