How to Download What is Bitcoin?: Where it is going in 2020? Kindle
Bitcoin has been labelled a virtual currency. But what actually is it and what does it mean for real currencies?Essentially, it is a digital token that can be exchanged electronically. It does not exist in physical form. Bitcoins are created and kept track of by a network of computers using complex mathematical formulas, rather than by a single authority or organisation.So virtual, yes, but currency, no. Why not?There are now thousands of different crypto-currencies, but Bitcoin is still the best-known. To receive a bitcoin a user must have a Bitcoin address - a string of 27 to 34 letters and numbers.This acts as a kind of virtual postbox to and from which the bitcoins are sent.There is no registry linking real names to addresses, which helps some Bitcoin users to protect their anonymity. Bitcoin wallets store the addresses and are used to manage savings.They operate like privately-run bank accounts - with the proviso that if the data is lost, so are the bitcoins owned. Increasingly, users are often asked for ID to open a wallet.The rules underpinning Bitcoin say that only 21 million bitcoins can be created - and that figure is getting ever nearer. It is unclear what will happen to the value of bitcoins when that limit is reached.This book is a complete guide to where this revolutionary digital currency came from and where is moving towards in 2020
