what is bitcoin and bitcoin history

 What is Bitcoin? What is it used for? The idea of ​​becoming a millionaire #

Gold coins, silver coins, copper coins were known in ancient times as gold coins, silver coins, copper coins. Ah, what a strange name! When the king was happy to give gold coins as a gift to his subjects, the royal court was filled with joy. Again, many farmers used to get gold coins when they went to cultivate the land. Aladdin's giant came out of the magic wand and asked, "How many pitchers do you need, sir?" The days of gold coins or gold coins have changed. Bitcoin, the digital currency of the virtual world, is now in vogue. Let's enter the virtual world of Bitcoin and find out its information.

what is bitcoin and bitcoin history


What is Bitcoin?


Apparently, Bitcoin is a kind of crypto-currency. Crypto means hidden or covert. In fluent language, which is not seen. And currency means currency. That means bitcoin means secret currency. It is the world's first crypto-currency.

Crypto-currencies can be of several types. Crypto-currency is an untouchable type of currency that is completely different from the conventional paper currency on the market. Bitcoin is one of them. Its market value has increased over the past decade due to its increasing global popularity day by day.

History of Bitcoin

Bitcoin was invented in 2006 by Satoshi Nakamoto, a Japanese citizen. 

Its first transaction was in 2009 between programmer Satoshi Nakamuto and Hal Fin.

One of the specialties of Bitcoin is that it will be mined up to a maximum of 21 million units. After that no new coins will come in the world. To date, Bitcoin has been mined over 17.5 million units.

Hisabenikesh says it could take up to 2140 to mine the latest coin in coin mining.


What is Bitcoin? History of Bitcoin

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The validity of bitcoin

The use of these coins is practically prohibited in most of the countries of the world, in most of the countries of the Third World, due to the undecided price, huge profit-loss and risk of misuse. Using it illegally can result in a person serving long prison terms or even hefty fines. The use of these coins is also illegal in our country.


The validity of bitcoin

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Bitcoin exchange and price

A special thing about this coin is that it can be bought with retail money. On an average, if we want to capture the value of one unit of coin, then in 2021, the value of one unit of bitcoin in our domestic currency is about 16 lakh rupees.


Which would have been calculated in thousands by 2015. The fluctuation of the value of a coin depends entirely on the demand and mining of the people.


Mining is a process by which all types of blockchain transactions are verified and the currency is linked to the digital account of the crypto-currency. Coin mining also requires a lot of electrical energy.


Bitcoin exchange

Coin transactions

So there is no doubt that coin mining is more possible in developed countries. If someone thinks that he will buy 100 taka coins, he can do that too.


You can also buy 100 crore taka coins if you can. Through accounting and measurement, the buyer will get exactly as much as the fraction of one unit of coin for 100 rupees.


Coins are traded online. This is because it is a cryptocurrency that is only suitable for online trading. In a word, it is used in digital transactions.


PayPal and Bitcoin

(Photo by Ulrich Baumgarten via Getty Images)

Recently, online-based money transaction companies such as Elon Musk's PayPal have announced the inclusion of a number of other cryptocurrencies, including Bitcoin.


Elon Musk and Bitcoin

Elon Musk and Bitcoin

The price of these coins fluctuates in the market so that the buyer or seller may face extreme loss or unintended profit. So it is not for all classes of people.


Those who are engaged in international market traders or big business and the upper class people can only use it in fact.


Such as: Bill Gates, Elon Musk, Mark Zuckerberg, big entrepreneurs or businessmen. The use of these coins is quite noticeable in industrialized countries nowadays. In short, its use in business has been increasing significantly lately.


The pros and cons of bitcoin

It is better to let the general public not use this coin as it has a higher level of evil than good. With Bitcoin, hackers can harm people with extreme convenience.


Because it is an online-based marketable cryptocurrency. Although the security of using crypto-currency is very strict or the system is encrypted and there is no chance of counterfeiting money.


However, the use of bitcoin is illegal in our country for fear of being used for malicious purposes.



Where is Bitcoin found?

Coins can be earned and traded on various websites. Here are some of the websites:

Top 10 Bitcoin and Cryptocurrency Exchanges

Coinbase

Gemini

BlockFi

Uphold

Kraken

eToro

Bitcoin IRA

Crypto.com

Binance

Hodlnaut


How much money is equal to 1 bitcoin?

How much does bitcoin cost?

The value of a bitcoin in Bangladeshi rupees is about 40 lakh rupees.


Is Bitcoin legal in Bangladesh?

Under Bangladeshi law, trading or storing Bitcoin or any other cryptocurrency is illegal.

-Bangladesh Bank.


Bitcoin is legal in which countries?

Bitcoin has been recognized as a legal tender in El Salvador. 

Bitcoin is the currency of which country?

Bitcoin is not the name of a particular country's currency. It is a virtual currency that people of any country can use.


Who invented Bitcoin?

Who invented Bitcoin?

Bitcoin was invented in 2006 by Satoshi Nakamoto, a Japanese citizen. 



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