At the core of Bitcoin is a technology known as blockchain, which in layman’s terms is a method of verifying transactions without the need for a central authority. This means that transactions are securely confirmed by using computers to solve complex math problems. computers involved in this process stay connected to each other by creating what is known as a peer-to-peer network. Once this network has verified a transaction, it is added to what is known as a ‘blockchain’. Each “block” that is added to the blockchain contains information about every transaction that happened in the system up to that point.

blockchain is a public ledger that is distributed across a certain number of computers on the network. advantage of this distributed ledger is that it eliminates the need to trust any central institution to confirm and verify transactions. It also means that there is no way to “hack” the network through a single computer or server.

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Read more about how bitcoin is used: https://cryptoshitcompra.com/como-se-usa-bitcoin-para-que-sirve

Mining for Bitcoins

creation of new Bitcoins, also known as mining, is done through the use of special software to solve complex mathematical problems. se problems are intentionally created so that they have no real value other than to commit transactions to the system. Additionally, they ensure that the same transaction ‘block’ is created and added to the blockchain in the same order each time. Once a calculation has been completed, it is known as a “block” that is added to the chain to confirm and verify previous transactions. This entire process is repeated over and over again up to approximately every ten minutes, when a specific amount of new Bitcoins is created for each block.

Read more about bitcoin mining: https://cryptoshitcompra.com/como-funciona-la-mineria-de-bitcoin

Advantage Of Bitcoins And Disadvantages Of Fiat Currency

biggest advantage of Bitcoin is that, unlike fiat currency (which can be controlled by central banks), it is decentralized and open source. This means that there is a certain amount of predictability as to how the market will perform. And because it is decentralized, there will never be hyperinflation of Bitcoins. This is because there are only 21 million Bitcoins that can be mined, and most of them have already been.

Rather, central banks can simply print as much money as they want when they want to manipulate currency values. An obvious example of this was in 2008 when the US Federal Reserve decided to bailout AIG in an attempt to avoid a financial meltdown during the subprime mortgage crisis. Fed conducted a massive money printing exercise, in which the US dollar drastically lost value against other world currencies over the next four years. coin is now slowly recovering, but it will probably be decades before it is anywhere near where it was.

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Unlike fiat currency, Bitcoin cannot be printed simply on the whim of central bankers. supply of Bitcoins gradually increases when mining activities are completed, up to approximately every ten minutes when a new ‘block’ of transactions is added to the blockchain and a certain number of new Bitcoins are created as a reward for the miner’s work in verification of previous transactions. In the net. Every 4 years that passes, the rate at which new Bitcoins are created is cut in half.

Read more about the profitability of investing in bitcoin: https://cryptoshitcompra.com/ rentabilidad-de-invertir-en-bitcoin

Where to buy Bitcoin?

Bitcoin or you can buy it from many exchanges but the most recommended are the following since you can pay with a debit or credit card:

Binance; You enter, register, verify the account and you can now operate. Enter now

Coinbase: You enter, register, verify the account and you can now trade. Login Now

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