What Is Bitcoin?

[hajimasan]

I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.

For example, I will start with the obvious: Bitcoin is internet money

Is this a perfect explanation? Of course not. This is where you come in.

Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.

The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.

Make sense?

So I will repeat the starting point: Bitcoin is internet money

This is truth that bitcoin is not the actual currency of money because it is that medium of the transfer of your money from.one part of the world to any another part .
Here in my opinion bitcoin is a written data which is highly secured and no one can destroy it or can change it , so we have trust with the bitcoin data in the online algorithum program and we have trust with each other that we have the internet data which has a better value and we can easily use it for the making buy and sell of thing and even we can easily exchange for the for Money .
So finally we can say that bitcoin is an option of the medium to spread our money and collection of the money from worldwide level .
So here I think it would not be better for us to say that it is a way to amke earnings , but it makes us ease to earn Money .

[Smith871]

Bitcoins is crypto currency (internet money) so as the world is trending towards e commerce and online banking or transfer money so in this regards bitcoin is an emerging form of money which one will transfer or save it for ease of online business or trading.

[Decalcomania]

I am a noob when it comes to Bitcoin. But I know that there are 2 types of "keys".

Key #1 is PUBLIC - you will give this to anyone who wants to send you Bitcoins

Key #2 is PRIVATE - you will use this to get your Bitcoins and should keep it a secret

I think that bitcoin is some sort of a crypto currency that is common on banks, credit and debit card.

[ennovy22]

Bitcoin is the first digital currency and a virtual money, a peer-to-peer technology and a digital payment worldwide.

[inv_ker]

Decentralized truth ledger.

For me what is Bitcoin? I think Bitcoin is internet money that comes from online transaction of  severals investors. The one thing that I really known about Bitcoin it is first digital currency in the world.  It is also a virtual money.

[goyal.dkg]

guys i am new to all this crypto currency world also to bitcoins .. so please anyone explain me and others like me how to buy bitcoins and other coins .. or if this question is already answered then please give me link of thread where it is explained . thank you .

[catvantuong]

Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.The bitcoin network is designed to mathematically generate no more than 21 million Bitcoins and the network is set up to regulate itself to deal with inflation. Bitcoins can be spent by initiating a transfer request from a Bitcoin address in the customer's wallet to a Bitcoin address in the vendor's wallet.
 Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into a public ledger.

[flower1024]

Decentralized truth ledger.

For me what is Bitcoin? I think Bitcoin is internet money that comes from online transaction of  severals investors. The one thing that I really known about Bitcoin it is first digital currency in the world.  It is also a virtual money.

It is first virtual currency or not i don't know but when this bitcoin arrived many people are learned about virtual currency. Bitcoin is one type of future asset if we invest now definitely it will give us good profit in future. And Bitcoin is fast transferring money with low fee. We can transfer a big worth of bitcoins without paying any big fee. So overall it is worth to use it.

[Nilima-Temp.]

What is bitcoin?
well in my case i would say that its something that will be more valuable than gold in the future. In short, its a portable-money-substitute. Something u can carry virtually, u can even have thousands of dollars with you without anyone noticing your fat moneybag.

[kpcian]

So far I know that this type of thread I have visited before, whatever the case, Bitcoin is just not a currency for me, Bitcoin is like a capital formation, the behaviour of Bitcoin is alike of Bitcoin so I call it is a capital. day by day Bitcoin is becoming a popular platform that helps people to make money.

[fiulpro]

I think bitcoins are more like ;

Bitcoins are known as a cryptocurrency, and cryptocurrency means currency that is not comparable to fiat but is soley based on the internet, I take cryptocurrency similar to stock market and I understand that bitcoins do hold a fixed value whose value is decided by the demand rule of the market, its not comparable to fiat but its a means of investing like gold.
Bitcoins are not fixed they are also decentralized that means that the market value is decided by no one !

[Cofee.BLUE]

Bitcoin is a digital currency that is known in the whole world, and also this bitcoin can be earned easy.Bitcoin can be transfered from person to person, and also bitcoin can be stored very easy and safe. Bitcoin can be change into a currency in every country that legalized bitcoin, and it has a very large amount and in US dollars it amounts 5k up dollars per 1bitcoin. And that is a very good amount. So thats how i introduce btc.

[zais]

I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.

For example, I will start with the obvious: Bitcoin is internet money

Is this a perfect explanation? Of course not. This is where you come in.

Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.

The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.

Make sense?

So I will repeat the starting point: Bitcoin is internet money

Bitcoin is a consensus network that enables new payment systems and money that are entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to cash in the internet world.

[ucok_aball]

I think bitcoin is money that is digital and useful to everyone because it has abundant features, like no tax deductions, fast delivery and many more

[coinbd]

Bitcoin is a crypto coin. It has started since 2008. As long as its popularity is increasing, its popularity is increasing. It seems to me a gold deer.

[8Habits]

I think bitcoin is money that is digital and useful to everyone because it has abundant features, like no tax deductions, fast delivery and many more

You are right and there is so much to bitcoin that will amazes everyone that has it because it offers convenience like not available with fiat money. For instance, if you want to join online gambling sites that only accepts fiat money, you need to send them some documentary requirements to prove your identity while with bitcoin, you can join in a matter of minutes and there is no such identification requirements and all that..

[tengek37]

I think bitcoin is a cyber currency whose price keeps rising so it is suitable for investment, but many countries are banning it because it is anonymous,

[aa.aep]

bitcoin is cripto curency or digital money can be called internet money most internet enthusiasts use to utilize online stuff to compare it with fiat it's better Cheesy like controlling by government and also do not have tax every time you have income government can not elimanasikan taxes on it are a bit of a burden especially those who get bitcoin in large quantities. Because it can not be controlled by the government at all. Also the most popular and desirable crypto currency.

[cmacwiz]

Bitcoin is onekind of CryptoCurrency like Dogecoin Altcoin Litecoin etc. Bitcoin one kind of digital money which you can access anywhere with the help of Internet. Bitcoin helps people to go cashless while they are shopping their goods. Bitcoin solve unemployment issues in many countries. You can earn bitcoin by joining some signature campaign and by trading it or mining it. Their is no need to pay tax when you income money through bitcoin. Bitcoin become a financial supporter of many families

[zais]

I personally know quite a bit about Bitcoin. However, this thread is for the community here. The idea is every post should contain NEW info which hasn't previously been posted in this thread.

For example, I will start with the obvious: Bitcoin is internet money

Is this a perfect explanation? Of course not. This is where you come in.

Please post the most detailed aspects about Bitcoin you know, without repeating any info previously posted in this thread.

The idea is as we scroll down, the discussion should get continually more complicated as we dig further into the technology, development, history, etc.

Make sense?

So I will repeat the starting point: Bitcoin is internet money

Bitcoin is a consensus network that enables new payment systems and money that are entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to cash in the internet world