Bitcoin (General)
BITCOIN
♦️is a revolutionary Technology that enables a new way to send payments over the internet.
♦️You can Think of it as an open accounting system where thousands of computers all over the world work together to track ownership of digital Tokens called Bitcoins.
♦️When you send someone Bitcoins, the transaction is broadcast to the entire network.
♦️After it is verified, it is recorded in a public Ledger called Blockchain
♦️The Blockchain Contains a record of Every Bitcoin transaction that has occurred Since the system began.
♦️The blockchain is shared and maintained in the network, so that everyone keeps record.
♦️Most Currencies are issued by a central authority that Controls the money supply. But
Bitcoin is a peer to peer system , so there is no central authority. Thus, DECENTRALIZED
♦️Bitcoins are issued to users who help process Transactions in the network. This is Known as BITCOIN MINING
♦️Bitcoin Miners are specialized Computers that do the work required to verify and Record transactions in the Blockchain.
♦️As a reward for their work, the miners earn Bitcoins and this is how new Bitcoins are released into Circulation.
♦️The system is programmed so that only 21 million Bitcoins will ever exist.
♦️As time goes by, the mining reward Decreases, The result is a predictable supply governed by scarcity
♦️Making Bitcoins is somewhat like a digital Gold
♦️It is the first currency of the internet and everyone is free to use it.
♦️With Bitcoin you can send any amount of money to anyone, anywhere in the world as easily as sending an email..
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Pl confirm in this forum that there exists FLASH BTCs which transferable and will stay good for some days