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Review on Bitcoin by Mr Benji
Bitcoin the king
1. How it started? -
Bitcoin is the most common cryptocurrency. Created in 2009 by a programmer (or a group of programmers) performing under the pseudonym of Satoshi Nakamoto. Bitcoin allows you to make instant payments to anyone in the world - no bank account or registration required; it is only necessary to download some of the many bitcoin purses. Global payments are made possible using peer-to-peer technology that works without any central authority. Transaction management and issuance (extraction) of this virtual currency is done collectively within a decentralized database, blockchain. Although bitcoins are not printed or stamped in any way, they are often referred to as coins, with 1 BTC being a bitcoin unit.
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2. deflationary currency - The total number of bitcoins will never exceed 21 million. This is not a wild promise by developers but a limit that is built into the bitcoin protocol - a set of rules that define what bitcoin is. Compliance with the protocol is overseen by a decentralized network of nodes - full network nodes. There are over 10,000 in the world.
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3. Maning -
The mining nodes in the network are rewarded with bitcoins every time they find a solution to a mathematical problem (and thus create a new block). The block extraction remuneration is two-component: the miner receives the newly created bitcoins, as well as the transaction fees from the transactions he has included in the block (and thus confirmed them as executed). Reward in the form of newly created blocks is divided by two according to the protocol rules every 4 years. In the years 2009-2013 the reward was 50 bitcoins per block, in 2013-2017 it was 25 bitcoins, now the reward is 12.5 bitcoins per block. At a known rate, 95% of all bitcoins will be mined in 2025; in 2140 the last fraction will be mined.
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Pros
- most safe investment in crypto space
- Peer-to-Peer technology
- Most popular in the world
- The first one
- Bitcoin as a deflationary currency
- Soon there will be no new bitcoin to main
Cons
- High fees
- Slow compared to other blockchains
New products
Comments (3)
May 09, 2020
yes, I agree. bitcoin is the world's largest digital asset and much sought after by traders. i like your review, it is very good.I hope bitcoin becomes more easy to get, both in the form of faucets and from trading
April 29, 2020
Good reveiw sir , you all the best , i like it read and good job , bitcoin soon 20k$ pump pump hard bitcoin Investing in a good platform and with the aid of a good manager, is the best thing you can do to start making good money online.
