How can I know more about bitcoin?You have started at the right place. Spend some time every day reading through the informative boards and you will get a taste of all kinds of knowledge. You should also read the
bitcoin whitepaper which will help you answer your last question, "why is this invented?"
What is thisBitcoin is a digital currency deployed on top of a blockchain ledger. It uses the Proof of Work consensus algorithm to provide a viable economic incentive model that helps to validate "blocks", which includes transaction data that has been broadcasted to the network. It is powered by peers or nodes, who connect to the network and validate that the information broadcasted to it is correct and valid. The blockchain ledger itself is immutable, meaning no one can tamper with its history, and the network is decentralized, meaning no central entity can control whether or not it is online or offline. To take bitcoin or any truly decentralized blockchain down, you need to turn every computer/node connected to it offline. To change the history of the transactions/data, you need to control more power than all of the network combined. These are both nearly impossible tasks, and have not been successfully done (at least in a very damaging way) to date.
When & How it use?You can start by downloading a
bitcoin wallet. This will let you send and receive bitcoin. After that, you can use any of the array of options to buy some bitcoin and send it over to your wallet, where you can store it or spend it. Don't send bitcoin unless you know for certain where it is going! Malicious people, groups, companies and websites are always trying to find ways to take peoples bitcoins due to its irreversible nature. Once you send Bitcoin, there is no way of getting it back.
Why this is invented?Great question. At its core, Bitcoin was a response to centralized banking systems which have displayed to us hundreds of thousands of times, are not good for the people. Most notably during the Global Financial Crisis in 2008, the same time Bitcoin was created, the centralized banking/fiat money system proved to be terrible for people, and only good for the wealthy. Bitcoin was invented to give financial sovereignty back to the end user. It was invented to bring back some freedoms that have been lost during the rise of the global financial system. Most importantly, it was created as a tool to try and protect the world's people and their future from tyranny.
Who do we thank for this creation?Satoshi Nakamoto. An individual or group who is yet to truly be discovered, and probably never will.
If you want to learn more about Bitcoin, I highly recommend that you start off by reading the
Individuals section of
bitcoin.org in full, followed by the rest of the website. Then, come back here and look for any more questions you have, or post them!
I wish you all of the best on your Bitcoin journey, I hope it is fulfilling for you.
