Bitcoin is a cryptocurrency and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Bitcoin can be purchased on exchanges, or directly from other people via marketplaces. You can pay for them in a variety of ways, including credit cards, bank transfers, PayPal, and cash.
The first ever Bitcoin transaction took place on January 12, 2009 – between Satoshi Nakamoto and Hal Finney. Nakamoto is estimated to have mined one million bitcoins before disappearing in 2010, when he handed the network alert key and control of the code repository over to Gavin Andresen.
Andresen later became lead developer at the Bitcoin Foundation.
Satoshi Nakamoto’s identity remains unknown. There are many theories about who he is – some people believe he is an individual man, others believe he is a group of people – but nobody knows for sure.
Bitcoin is often referred to as “digital gold” due to its similarities with precious metals. Like gold, it is difficult to mine, it has a limited supply, and it can be used as a store of value or a medium of exchange.
However, unlike gold, it is also easy to divisible – meaning it can be used in small transactions as well as large ones. Additionally, Bitcoin’s price is not based on its intrinsic value but rather on factors such as supply and demand, news events, and investor sentiment.
Investors interested in buying Bitcoin can do so on exchanges or directly from other people via marketplaces. The most common way to purchase Bitcoin is through an exchange such as Coinbase or Bitstamp. These platforms allow you to buy Bitcoin using fiat currencies (such as USD) or other cryptocurrencies (such as Ethereum). You can also buy Bitcoin directly from other people using marketplaces such as LocalBitcoins or Paxful.
These platforms allow you to find people willing to sell Bitcoin in exchange for fiat currencies or other cryptocurrencies. PayPal is also increasingly allowing its customers to buy Bitcoin via its platform. .
Yes – you can buy bitcoin on Mercuryo!.