What is bitcoin

[saiful1234]

Bitcoin is a currency. It is not money, dollar, euros.It depends on it use by people. It is a great investing site. It price  has growing  gradually.So people invest here.

[boynamnhi]

Bitcoin is a codeword, invented by Satoshi Nakamoto in open source software [9] since 2009 [2]. Bitcoin can be exchanged directly with an Internet connection device without the need of a financial intermediary.

Bitcoin has a different approach than typical currencies: No central bank manages it and the system operates on a peer-to-peer Internet protocol. [11] Bitcoin provisioning is automatic, limiting, scheduled to be based on algorithms. Bitcoins are provided to "Bitcoin" diggers to pay for Bitcoin transaction verification and to write them to the ledger scattered in the peer-to-peer network - known as the blockchain. This ledger uses Bitcoin as the accounting unit. Each bitcoin can be subdivided into 100 million smaller units called satoshi [5].

Transaction fees may apply to new transactions depending on network resources. In addition to transaction fees, diggers are also paid for block transaction logs. Every 10 minutes, a new volume is created with the amount of Bitcoin allocated. The number of bitcoins allocated to each block depends on the network lifetime. In July 2016, 12.5 bitcoins were allocated to each new block. The inflation rate will fall by half to 6.25 bitcoin in July 2020 and continue to decrease by half in each of the four years until a total of 21 million bcd is released in 2140. [2] [12] ]. In addition to digging Bitcoin, users may have Bitcoin by exchanging Bitcoin for the sale of currency, goods, or other services.

Bitcoin is the most prevalent codec, first introduced, and most widely used in e-commerce. [4] [13] Businesses tend to want to pay by Bitcoin to minimize costs. By October 2017, the amount of Bitcoins base currency was valued at more than $ 252 billion - the largest denomination of any codec. [14] [15] The great fluctuations in the value of each bitcoin have generated criticism for the economic suitability of Bitcoin as a currency. [16]

Note that the term bitcoin is capitalized when referenced as a protocol, software, or community, and is often referred to as a monetary unit.

[boynamnhi]

Bitcoin is the first decentralized digital currency. You can send and receive it to an individual via a peer-to-peer payment system anywhere in the world as long as you have an internet connection. You can also purchase goods with it among several online sites and physical stores. Its decentralized design means that it isn't controlled by any one individual, central bank, company, or country.

I totally agree with you!
When using Bitcoin you will be smarter, easier and more economical when trading.
  Moreover, your investment in Bitcoin will give you huge profits that you can still do other tasks.

[zafaryaqoob]

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.

[Vin183~]

Bitcoin is a business which is give us a big profit so help us to develop our financial and can change our life

[Amelial]

Bitcoin is a good business. We can get a big profit from bitcoin so we can develop our financial and can save money for our future

[alex M]

Whenever I got ask about it I would just simply tell them that it is a crypto currency,
And if they still continue to ask I would tell that it is a money in the internet .

Yeah, right. Bitcoin is the first ever made cryptocurrency around the world, decentralized and anonymous since no laws applied to it. Transactions made in bitcoin are hidden and no government can control it. It is used as way of payment of comodities in other countries like japan and europe through internet.

[Vanester2014]

Bitcoin is decentralize form of payment and this is a degital currency called crypto currency. Or in simply we called it the future of payment is bitcoin. Some of my friend asking me about this and when i start explaining them they feel so boring and change the topic LOL! Well l, its there choose to do it so i work with my self on bitcoin.

[artemchernov503]

So, we found out that when sending Bitkoynov, in reality there is no real forwarding. Instead, the virtual currency is copied to the recipient's address from the sender's purse.

[Faxmate]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

The first thing that i will tell them is PROFITEERING BUT VERY RISKY,and other extended words that may attract them to check and invest,though i will not push them to do so,because i dont wanna be blamed when they fail in cryptocurrency,whats important is the additive to their mind about this

Now risk is no more in bitcoin as it is now very famous and popular so people trust to invest in bitcoin on the behalf of high profit, well if you will tell them about the right way of investment then they will not be lose as they will earn, try to convince people by telling them right thing about bitcoin, as if we invest in bitcoin at time of low price and we hold it for the long time without panic selling then it is profit worthy and RISKFREE CURRENCY AND INVESTMETN.

[JohnWick_Bitcoin]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

I can give every information i know about cryptocurrency and help my friend to be knowledgeable about cryptocurrency because there are a lot of new traders today in the market who are losing a huge amount of their investment because of reckless investing and panic selling.

[Saiful Islam777]

Bitcoin is an indescribable currency. It is running in the current market. Although not all cases exist. But Bitcoin is the best in Crypto currency.

[jame kotler]

bitcoin is a currency that can be exchanged and traded online and has no control, it is completely confidential and no fraud.

[Walter789]

What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.

Since  I'm new here in bitcoin my knowledge about this is quite little but when I tell this to my friends I should suggest them to look for internet for more details about this.

[siddu67]

Actually Bitcoin is an investment.this investment is totally online based. all processing of Bitcoin are process through internet connection. if there is no internet connection then Bitcoin will become lame. so to keep Bitcoin active internet connection is must.

[Vart4varta]

Bitcoin is a network of global consensus, which creates a new payment system and completely digital money. This is the first decentralized p2p payment network, which is serviced by its own users, without central authorities or intermediaries. From the users' point of view, Bitcoin is very similar to cash for the Internet. Bitcoin can also be regarded as a leading accounting system with triple entry.

[stephylarde]

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.

[Magkirap]

Whenever I got ask about it I would just simply tell them that it is a crypto currency,
And if they still continue to ask I would tell that it is a money in the internet .

When someone ask me what is bitcoin I answered it a cryptocurrency that give me high income. It is income for me cause it give high profit in my investment. And if they continue asking, I prefer to say you must join and experience the good life in bitcoin and earn money in the internet.

[sabihanazir]

Bitcoin is one of the most digital currency of the crypto world.many people believe that this coin.bitcoin is the grandfather for of coins.bitcoin is a good business and it helps to many people that is depending their knowledge to computer.this is the most and highest value in the crypto world.

[Broad011]

Bitcoin is my life.Bitcoin change my economic life. For bitcoin I am lead good life.