What is the basis of bitcoin?

[Mike1992]

Bitcoin has come far in a relatively short time. All over the world, companies, from
REEDS Jewelers, a large jewelry chain in the US, to a private hospital in Warsaw, Poland, accept its currency. Billion dollar businesses such as Dell, Expedia, PayPal, and Microsoft do, too. Websites promote it, publications such as Bitcoin Magazine publish its news, forums discuss cryptocurrency and trade its coins. It has its application programming interface (API), price index, and exchange rate.
Problems include thieves hacking accounts, high volatility, and transaction delays. On the other hand, people in third world countries may find Bitcoin their most reliable channel yet for giving or receiving money.

[Mikolo11132]

At its simplest, Bitcoin is either virtual currency or reference to the technology. You can make transactions by check, wiring, or cash. You can also use Bitcoin (or BTC), where you refer the purchaser to your signature, which is a long line of security code encrypted with 16 distinct symbols. The purchaser decodes the code with his smartphone to get your
cryptocurrency . Put another way; cryptocurrency is an exchange of digital information that allows you to buy or sell goods and services.The transaction gains its security and trust by running on a peer-to-peer computer network that is similar to Skype, or BitTorrent, a file-sharing system.
Buy Bitcoin here
Bitcoin Transactional propertie

[michellee]

what is the basis of bitcoin?

Hi guys can you tell me what the bitcoin basics really mean as it rises or decreases?
if so what?
As a novice here at bitcoin I still confused why this system is?


For those who share an opinion are most appreciative.

I only know that the basics of bitcoin are from supply and demand and how people do with their bitcoin in the market. you don't have to confuse with all of this, you need to learn about how to get bitcoin by many ways, how to buy and sell and to make a profit from bitcoin, how to control your emotion. and if you only think about the system, it will need a long time before you can understand and maybe you are too late to take apart from taking a profit from bitcoin.

[Nazir0012]

Bitcoin has only limited supply so once the supply is decreasing the value of it increases.
Bitcoin attracted many people to invest because bitcoin is like gold in digital world.basics of bitcoin are from supply and demand.

[selivers]

what is the basis of bitcoin?

Hi guys can you tell me what the bitcoin basics really mean as it rises or decreases?
if so what?
As a novice here at bitcoin I still confused why this system is?


For those who share an opinion are most appreciative.

The price of bitcoin increase or decreases based on the demand. It is just like any other valuable material like gold. Both are limited in nature and people like them.

[mabell943]

Bitcoin is a currency which provides monetary value and investment.
The basis of bitcoin is the currency ratio just like other local currencies in the whole world. Through the increase of market value or the value of this coin we can obtained profit easily.

[aris av]

what is the basis of bitcoin?

Hi guys can you tell me what the bitcoin basics really mean as it rises or decreases?
if so what?
As a novice here at bitcoin I still confused why this system is?


For those who share an opinion are most appreciative.

Bitcoin prices are based on supply and demand, and if demand is much higher then bitcoin prices will soar. In addition, the circulation of negative news will have an effect on the demand-supply law and that is why bitcoin values are unstable.

[Goodday]

what is the basis of bitcoin?

Hi guys can you tell me what the bitcoin basics really mean as it rises or decreases?
if so what?
As a novice here at bitcoin I still confused why this system is?


For those who share an opinion are most appreciative.

The basic definition of bitcoin is to use a database that is distributed and distributed to the P2P network node to the transaction journal, and uses cryptography to provide basic security functions.

[thinknow11]

Bitcoin is the genesis of another form of money called cryptocurrency, it gives birth to blockchain technology and develop by Satoshi Nakamoto.

ITS USES
It is use as a method of payment
It helps to transfer money globally
It is save, fast and secure and many more

[ZAYANDI]

Bitcoin is the first cryptocurrency and payment system in the world. With the basic digital currency and we can get it without real money, On the other hand, people in third world countries can find Bitcoin as their most reliable channel to give or receive knowing only that the bitcoin basics come from the offer and demand and how people are doing with their bitcoin in the market.

[AlexAtom]

what is the basis of bitcoin?

Hi guys can you tell me what the bitcoin basics really mean as it rises or decreases?
if so what?
As a novice here at bitcoin I still confused why this system is?


For those who share an opinion are most appreciative.

the basic of bitcoin i think bitcoin is a digital currency that operates on decentralized database or blockchain.
bitcoin can increase or decrease depends on the market demands. if many peoples want to buy bitcoin, its price will increasing.

[jagmrx]

Small wonder that Bitcoin emerged in 2008 just after Occupy Wall Street accused big banks of misusing borrowers’ money, duping clients, rigging the system, and charging boggling fees. Bitcoin pioneers wanted to put the seller in charge, eliminate the middleman, cancel interest fees, and make transactions transparent, to hack corruption and cut fees. They created a decentralized system, where you could control your funds and know what was going on.

I hope so. At its simplest, Bitcoin is either virtual currency or reference to the technology. Btc is a digital currency. You can make transactions by check, wiring, or cash. You need to understand it first. You can also use Bitcoin (or BTC), where you refer the purchaser to your signature, which is a long line of security code encrypted with 16 distinct symbols. There is no country that can control btc. The purchaser decodes the code with his smartphone to get your cryptocurrency. That is because btc is meant for people and the world. There is no regulation that rule or control btc, so the price can go up and down just like right now.

[wily27]

Bitcoin is a digital currency, we get it without real money,
bitcoin can help invest money online, bitcoin more investors and capitalists invest in bitcoin business, that's why bitcoin ampe is still there

[vipaleks]

at the heart of bitcoin lies the principle of blockade

[selivers]

it means these are chains like steel that will be a burden for the current paper money regimes

[yourmomy]

Depends on what you mean. The basis of bitcoin is its decentralized blockchain system. And the price of bitcoin can be influenced by many factors. First of all, it is the capitalization of the bitcoin market. And factors such as positive news about bitcoin, the growing popularity of the blockchain and its widespread use can also influence. And so on.

[marjon]

Bitcoin is a digital currency than can be trade to other currencies and different assets. Since then, it's normal for tge decrease and increasing of its price. Moreover, there's a unique yet advance but very complex features of Bitcoin that other assets never had.

[Virtual miner]

what is the basis of bitcoin?

Hi guys can you tell me what the bitcoin basics really mean as it rises or decreases?
if so what?
As a novice here at bitcoin I still confused why this system is?


For those who share an opinion are most appreciative.

I'm confused on what are you really confused about!! See bitcoin is basically a digital currency and works like any other currency you hold except for a few differences. And those few differences are that bitcoin is not tangible like the fiat currency notes or coins you may hold, bitcoin is simply stored in digital wallets in encrypted form. The value of bitcoin fluctuates like anything, its like from 0-100 in no time. So it definitely proves to be an attractive investment opportunity. Then another point of difference is that bitcoin system is entirely decentralized and nobody can control it, like you home countries' currency being controlled by the respective governments.

This is a crux of what bitcoin may mean to a layman. And for the advanced knowledge or somewhat technical if you may want, go for some good books for beginners. Also you will find some threads here on this forum that may add to your knowledge.

[ganlianshifu1]

BTC is based on block chain technology! BTC is built on block chain network is the application!

Block chain technology has realized a special mode of trading in economic society - "decentralization"!

[Kriptomen_51]

One of the reasons why bitcoin is magic for many is the lack of understanding of its technical part. The fact is that bitcoin is based on several technologies, which appeared relatively recently. Therefore, it is very difficult to explain this in plain language without technical terms and foreign words, which are understandable only to savvy specialists. But still it is possible, if you clarify some basic principles.