What Is Bitcoin?
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Nakamoto introduced the idea on 31 October 2008 to a cryptography mailing list and released it as open-source software in 2009. There have been several high profile claims to the identity of Satoshi Nakamoto. However, none of them have provided proof beyond doubt that back up their claims.
The system is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain, which uses bitcoin
as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized
virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed and it is more correctly described as the first decentralized
digital currency. Bitcoin is the largest of its kind in terms of total market value.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into a public ledger. This activity is called mining and miners are rewarded with transaction fees and newly created bitcoins. Besides being obtained by mining, bitcoins can be exchanged for other currencies,products, and services. When sending bitcoins, users can pay an optional transaction fee to the miners.
How to get bitcoins?
Also you can get passive incomme by Investing in Bitcoin, or renting out
the hardvare from trusted Bitcoin Cloud Mining Companies.
Bitcoin price volatility
The price of bitcoin has long gone through diverse cycles referred to by way of
some bubbles and busts.
In 2011 the cost of one bitcoin hastily rose from $0.30 to $32.
In November 2013, the price of bitcoin rose to the all-time high $1,242.
In August 2014 it changed into beneath $600.
In January 2015, the bitcoin rate had dropped to $220.
In November 2015, bitcoin rose by 20% , exceeding $480.
As of April 2016, bitcoin is beginning to look slightly stronger than gold.
On 3 March 2017, the fee of a bitcoin has handed the value of gold for the primary
time and its price surged to an all-time excessive.
On 17 August 2017 bitcoin expenses have another time reached highest level of $4,500.
View the latest Bitcoin price in real-time.
SAT Satoshi 0.00000001 BTC
µBTC Microbitcoin 0.000001 BTC
mBTC Millibitcoin 0.001 BTC
cBTC Centibitcoin 0.01 BTC
dBTC Decibitcoin 0.1 BTC
BTC Bitcoin 1 BTC
daBTC Decabitcoin 10 BTC
hBTC Hectobitcoin 100 BTC
kBTC Kilobitcoin 1000 BTC
MBTC Megabitcoin 1000000 BTC