Welcome friends to our blog. Today, we are gonna learn about Bitcoin and how it works.
As we know we use currency to purchase the things from the market. Currency which we use to purchase the thing is a centralized currency and it is monitored by Government.
Similarly, bitcoin is a currency but it is a digital decentralized currency. We can not touch it like we can with our normal currency like Indian rupee, Canadian dollar, United States dollar, Pound etc. Bitcoin can be saved on your online account and can be used to buy things over the internet easily. You can transfer bitcoin digitally from one pocket to another. There is no any guideline or controlling authority of the government over the bitcoin. It is a virtual currency. Satoshi Nakamoto is the name used by the unknown person or persons who designed bitcoin.
The minimum unit which is used to measure bitcoin is satoshi just like paisa is used to measure the minimum Indian currency. Currently, the value of a single bitcoin is around 1279 us dollars ($). But this value is not fixed and fluctuates rapidly with time. It may happen that if the value of a single bitcoin today is 1279 $ then tomorrow it may be 920 $ or 1500 $. So, people who use bitcoin, they use it on their own risk because as we told that it is a decentralized currency, there is no any rule and regulation of government over bitcoin. So, this is the main reason why bitcoin is mostly used in dark and deep web. The smuggler or the people who involve in illegal activities, use bitcoin to purchase illegal things over the dark web without giving any tax to the government because we already told you that government has nothing to do with bitcoin. If, you don't know what is dark and deep web then we request you to check our post regarding web family and their types by clicking on this link "Web family types & details".
You can use bitcoin in online shopping, money transferring even in website purchasing. Today most of the vendors are allowing bitcoin to purchase thing online.
But, still government keeps eyes over bitcoin and a fact has came which reveals that most of the people who involves to buy illegal things, in having black money are caught to be used bitcoin for this.
How to get bitcoin: You can exchange your normal currency to get converted it into bitcoin but as we told earlier that it would be fully your own risk if you do this, government is not going to help you in any manner because as we told you the value of bitcoin rapidly fluctuates in the market with time due to fact that it is a decentralized currency.
How to earn bitcoin: Yes, you can earn bitcoin online. As we know bitcoin digitally moves from one pocket to another. So, bitcoin miner is used as third party or third guy who verifies both bitcoin sender and receiver. And as a result they earn some bitcoin may be half bitcoin or one-fourth, that depends upon the number of bitcoins that are transferred by sender to receiver. This job is called bitcoin mining. Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. Go and google, you will get ideas about how to earn bitcoin.
But there is a limit of generating bitcoin for a country just like as there is a limit of printing money for a country if, there would not be any limit then every country can print money 24*7.
So, that's it for today's segment, we will be back with another post. Please like, share & subscribe our blog.
As we know we use currency to purchase the things from the market. Currency which we use to purchase the thing is a centralized currency and it is monitored by Government.
The minimum unit which is used to measure bitcoin is satoshi just like paisa is used to measure the minimum Indian currency. Currently, the value of a single bitcoin is around 1279 us dollars ($). But this value is not fixed and fluctuates rapidly with time. It may happen that if the value of a single bitcoin today is 1279 $ then tomorrow it may be 920 $ or 1500 $. So, people who use bitcoin, they use it on their own risk because as we told that it is a decentralized currency, there is no any rule and regulation of government over bitcoin. So, this is the main reason why bitcoin is mostly used in dark and deep web. The smuggler or the people who involve in illegal activities, use bitcoin to purchase illegal things over the dark web without giving any tax to the government because we already told you that government has nothing to do with bitcoin. If, you don't know what is dark and deep web then we request you to check our post regarding web family and their types by clicking on this link "Web family types & details".
You can use bitcoin in online shopping, money transferring even in website purchasing. Today most of the vendors are allowing bitcoin to purchase thing online.
But, still government keeps eyes over bitcoin and a fact has came which reveals that most of the people who involves to buy illegal things, in having black money are caught to be used bitcoin for this.
How to get bitcoin: You can exchange your normal currency to get converted it into bitcoin but as we told earlier that it would be fully your own risk if you do this, government is not going to help you in any manner because as we told you the value of bitcoin rapidly fluctuates in the market with time due to fact that it is a decentralized currency.
How to earn bitcoin: Yes, you can earn bitcoin online. As we know bitcoin digitally moves from one pocket to another. So, bitcoin miner is used as third party or third guy who verifies both bitcoin sender and receiver. And as a result they earn some bitcoin may be half bitcoin or one-fourth, that depends upon the number of bitcoins that are transferred by sender to receiver. This job is called bitcoin mining. Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. Go and google, you will get ideas about how to earn bitcoin.
So, that's it for today's segment, we will be back with another post. Please like, share & subscribe our blog.
No comments:
Post a Comment