It is just impossible to talk of cryptocurrencies without discussing about bitcoin. To start from humble origins and view to some disrupting government control on public finances, the bitcoin has grown on becoming the powerhouse in financial sector. Many merchants, businesses as well as governments are now adopting this coin, and blockchain technology, in ways that creator of the bitcoin cannot have imagined, check out the latest bitcoin news here.
Bitcoin began as the paper authored by the bitcoin’s creator named Satoshi Nakamoto. In it, Nakamoto– whose real identity stays unknown at a time of writing– details the system of decentralizing financial sector, with an aim to give power back to people through the digital transaction system (that will be known as blockchain). In 2009, first block got mined by Satoshi at just 50 bitcoin. Whereas still involved directly in development of the bitcoin, Satoshi is thought to have mined around 1 million bitcoin, amount that will, just eight years later, get worth upwards US$5.8 billion.
How does the bitcoin work?
Before you get started using bitcoin, it is very important to know how this technology works or reasoning behind. This won’t just save you some headaches in a long run, but can give you the greater appreciation on what is going on behind scenes. When you have you’ve created the account or exchanged certain fiat currency for the bitcoin, next step will be setting up the wallet. Make sure you take the right way and not fall in any trouble.