What Is Bitcoin?

[iyan33]

Bitcoin is an internet currency that functions not only as a means of payment transactions but is able to provide benefits for its users in various ways that can be done to get bitcoin investment, trade and mining.
And now the price of bitcoin is so high as its progress keeps increasing.

[michellee]

for me, bitcoin is like a new way to help me to earn money by doing work with bitcoin. by doing some extra work, we can earn bitcoin and we can make bitcoin as our investment in long term. if we don't make as investment, we can use bitcoin for trading or gambling but I don't recommended if we use bitcoin for gambling because its too risky and better to use for trading.

[Protected101]

Bitcoin is money, money that can we used only in online transaction.
Also bitcoin is money that can generate by someone who are working with it.
Bitcoin can help those poor to get money and make rich in the future.

[wellsontheja]

Simply for me bitcoin is an digital curreny which have a very spectacular price

[kuyaJ]

Simply for me bitcoin is an digital curreny which have a very spectacular price

it is digital but it can exchange it into real money and it has an improvement and better than money thats why there are many people use it.

[mackenzied]

Bitcoin is Internet currency. It needs a wallet and Internet connection. bitcoin is so much profitable. so,people can earn extra  income from it.

How can you make money from it? I would love to hear a newbie's answer about how they make money. I have never seen any newbie as confident as you.

[Ararbermas]

 as i know bitcoin is the easy way to earn some cash .like a field job it also paying for your work. it is a big help for the other that didn't have a stable job using bicoin they can feed their family. And you can also offering your skills here to get a possive income.and bitcoin can help you to make a living it depends on how much profit you earn. But i know that someday  bitcoin is the way to make us succesful in the future .

[Core.BUSTER]

A digital money that most of internet enthusiast uses to avail online stuffs also a decentralized money that features good characteristic of crypto currency and to compare to fiat it is more good like controlling by the government and also does not have tax every time you have an income government cannot elimanate tax on it which is a bit burden especially those who get big amount of bitcoin. Therefore it cannot control by the government at all. Also the most popular crypto currency and in demand.

Actually, bitcoin is a digital money or currency in online market. In addition to that, bitcoin is the first cryptocurrency that has a high value in online market and as of now bitcoin is become more demand in market and its because of the price and the money that you could get if you use bitcoin.

[nicemikee]

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 Internet currency-by doing some extra work ask working doing internet

[Baby Dragon]

Bitcoin is the first cryptocurrency that was named by a man with an alias of Satoshi Nakamoto. It was first seen in 2009 and its value is still less than a dollar. No one is taking control of this currency until this time. Its transactions are anonymous and it is the well known feature of it. Today, its value is still increasing and maybe there will be a time that it could reach a million dollars. It is also called as digital gold since you can also obtain this by mining using hardwares. Most important is that all people can have access in using this cryptocurrency.

In fact, bitcoin is the first cryptocurrency and its has a high value in market. Furthermore, bitcoin is a digital money that you may use in different kind of transaction like paying bills, shopping online and many more. Lastly, I think using bitcoin you could become millionaire or billinaire in the future.

[SirLancelot]

Bitcoin is an internet currency that functions not only as a means of payment transactions but is able to provide benefits for its users in various ways that can be done to get bitcoin investment, trade and mining.
And now the price of bitcoin is so high as its progress keeps increasing.

BTC is a digital currency invented by Satoshi Nakamoto who released it as an open source software in 2009. It was fisrt used for large transactions only but nowadays, many companies accept payment in the form of BTC like Microsoft, Uber etc. As you said, the value is accelerating because of the increase in demand and it is the most expensive asset that one can own in the present era. It is also the currency of future.

[congtuan001122asd]

Bitcoin is an electronic currency that is becoming more and more popular in the world.We can improve our own economy with bitcoin and make quick payments

[fullhdpixel]

Bitcoin is the FIRST solution to the Byzantine Generals problem.  You can read more about this problem here :
https://en.wikipedia.org/wiki/Byzantine_fault_tolerance#Byzantine_Generals.27_Problem

The bitcoin network works in parallel to generate a chain of Hashcash style proof-of-work. The proof-of-work chain is the key to overcome Byzantine failures and to reach a coherent global view of the system state.

Problem solved. ^smile^

Happy for Byzantine but aren't you talking a little bit off of the topic. The question was "What Is Bitcoin".

Well, BTC is a virtual currency that was created for big transactions by Satoshi Nakamoto (I only know his name and nothing else). It has no physical form and is very valuable due to which people call it digital gold. I can talk for days and nights about how great BTC is but the punch line is it is the best asset one can have in the present era.

[Dart18]

They will all just say it is an online currency.
But are you happy with that answer? Does that suit the answer that you are looking for? Are you really looking at it as a currency?
I prefer commodity. Maybe I have a different opinion but that is how I see it. I cannot prove it as a currency unless I can use it like a currency.
Why do I need to exchange it to fiat just so I can spend it? That is the reason.
Isn't it like gold that needs exchanging first?

[MrEthics69]

Bitcoin is a virtual currency it's a profitable site in online also secure.
It's helps to increase your money

[wallstone]

Bitcoin is a virtual currency not unlike any other you might have come across while playing online games, except the technology is much stronger.

Well, bitcoin is a digital currency and money that you can use in different kind of transaction like paying bills and many more. In addition to that, bitcoin is the new currency and it is the first cryptocurrency that has a high value on online market. Lastly, I think bitcoin is our future money.

[Lintel]

Bitcoin is a form  of digital currency created and held electronically. It can be used in online transactions between individuals. It can be used in paying electric bills, sending money, etc.

[Lalafell]

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

Indeed. Bitcoin is an electronic kind of money that you may use in different transaction. Futhermore, using bitcoin can really help you to make and gain more income. Bitcoin is the father of all cryptocurrency and bitcoin is very profitable. Lastly, I think bitcoin is the new currency.

[MetalGear]

Bitcoin is a virtual currency not unlike any other you might have come across while playing online games, except the technology is much stronger.

Actually, I certainly agree that bitcoin is a virtual currency or money because you can use in any transaction. As of now the price of bitcoin more expensive and I think it will become world currency. In addition to that, bitcoin is a new currency because some people start to use it in any transaction.

[Painbird]

Bitcoin is the first global, decentralized currency that allows you to send money from one person to another without involving a third party broker, such as a bank. You only need your computer to make transactions because Bitcoin is fundamentally software.