What is Bitcoin?


O que é Bitcoin? is digital money that allows for secure, seamless peer-to-peer transactions on the internet. It’s the first decentralized global payment network that is not owned by any individual or company and is open source; its governance and issuing of new coins is carried out collectively by the entire Bitcoin community. Bitcoin paved the way for the most significant technological revolution since the Internet, allowing individuals to become their own bank and bypass third-party financial institutions and payment processors.

Bitcoin vs. Altcoins: Comparing Cryptocurrency Options

Each Bitcoin has a unique identification number called a public key that identifies its owner on the blockchain. When you acquire a Bitcoin, it is assigned to your ‘digital wallet’ – an app on your smartphone or computer that lets you view your balance and make payments. Your Bitcoin is also ‘pseudonymous’, meaning that your transaction history cannot be tied to your real name or identity.

Like cash, Bitcoin is fungible – it can be used to buy things from people who accept it for payment. Because of this, more and more merchants are choosing to accept Bitcoin for their goods or services. Bitcoin is also becoming a popular form of payment in online games, where players can get cryptocurrency rewards for their efforts. Bitcoin is a valuable asset because it has all the properties of paper money, such as acceptability, divisibility, durability, fungibility, portability and scarcity (because there will only ever be 21 million Bitcoins in circulation). The value of Bitcoin is determined by supply and demand, much like how the price of a dollar can rise or fall depending on economic conditions and speculation.

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