What is Bitcoin?
“Bitcoin” comes from the conjunction of two English terms: “Bit”, referring to computing, and “Coin”, a Saxon word for currency. Although many use this word to refer to a virtual form of payment, this is not exact, and although as we mentioned it is something that can be touched like real money, Bitcoin is a type of currency that we can use it. So if we were doing transactions with pesos, dollars, yen or euros. In other words, in the markets in which it is accepted, Bitcoin is a form of money just like the others, and we can operate with it in the way we like best.
Bitcoin was born in 2009 by the hand of Satoshi Nakamoto, a pseudonym that is not too clear if it corresponds to a person or a group, in order to establish a new type of currency that could serve as an electronic means of payment , based on evidence mathematics, and also with the aim of having a currency that could be independent of any central or banking authority, with the particularity of being money that could be instantly electronically transferable. /
To better understand how this works, it is necessary to clarify that the name Bitcoin refers to both the currency itself and the P2P system, Sales Funnels that the system supports.
However, and although it is related to the same system that many use to download movies and music, Bitcoin is not something that can be taken lightly, and those who intend to start interacting with this currency should do so seriously, already That in the same way as our transactions with real money, the amount of Bitcoin that we have under our belt rises or falls according to the income or expenses that we have, and not knowing how to control these values can lead to many problems. Almost the same as a real
coin, except that we can never put it under the mattress.
Now, surely we are wondering who endorses Bitcoin, or what financial parameters determine its value in the market. The short answer is nobody. This currency is not backed by the government or financial entity, all transactions carried out with Bitcoins are processed directly, without intermediaries of any kind.
That is why nowadays Bitcoin continues to maintain its idiosyncrasy, that is to say that it's miles virtual money that isn't always controlled by all people, that is to mention that authorities authorities or banking establishments are not involved in its improvement and use.
For this reason, Bitcoin can be used to acquire products and services through electronic platforms, so we could say that Bitcoins are like dollars, euros, yen or pesos, but that they can only be used digitally, since Bitcoins are not they are physically printed.
