The use of Bitcoins in 2018

reports of new records of Bitcoins Daily, already has $ 17,000 is the current price, which stood at a few cents a few years ago. Who is doing since 2010, or even 2013 yet entered, is today if he was patient enough millionaire. And with only a few hundred euros of seed capital. On the Internet, some stories of investors already circulating that were with Bitcoins millionaires.

Quite different fared Laszlo Hanyec, in 2010 bought two pizzas for 10,000 Bitcoins and thus carried out the first confirmed Bitcoin transaction against real goods. Today this would be about 100 million Bitcoins $ value! Each year on 5/22. is therefore celebrated day today, the Bitcoin pizza is questionable whether Laszlo mitfeiert this also. The most expensive pizza in the world, but as the saying goes, money can not be eaten last.

In this article we show you how you can buy Bitcoin, stores it safely check if bitcoin code is right for you in 2018 and what you can use their Bitcoins. We also clarify some of the major myths and show you how Anonymous and safe Bitcoins really are.

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What is Bitcoin?

The Bitcoin (short also: BTC) is a digital crypto-currency that is not like the euro or other currencies printed. There are digital coins, which you can send over the Internet, based on the so-called block chain technology . The purchase of Bitcoins also works over the Internet, but more on that later.

You can use Bitcoins to buy goods or services or conduct other transactions in which you have to pay something. The Bitcoin can use exactly as normal currencies such as the euro. Primarily Bitcoins but currently serve as speculation and investment property. Due to the dramatic increase in value Bitcoins are little used in real trading.

Bitcoin opponents often argue that Bitcoin is not a “real” money or have no real value. But a Bitcoin has exactly the value that someone is willing to pay for it. So our entire system of the market economy works: supply and demand determine the price. The euro has no real value and is arbitrarily printed by central institutions, much more extreme it is with the deposit money (cash) which currently already accounts for most of the volume of financial transactions and even a number on a computer is no relation to real money creation ,

The interesting thing about Bitcoin is its decentralized nature, that is, the Bitcoin is not controlled by a central or state institution. All participants in the Bitcoin network have equal rights. So even if one goes bankrupt, all others do not have their money.

Bitcoins are transmitted directly from person to person, without having to take detours via any banks. The result is that the fees are much lower and can you pay in each country with it. In addition, your credit can not be frozen. This makes Bitcoin course, especially in times of financial uncertainty and bankruptcies of entire banks an attractive option.

Who invented the Bitcoin?

Who exactly is the inventor of Bitcoin, is still unclear. In 2008 someone published under the pseudonym Satoshi Nakamoto a nine-page research paper entitled “A peer-to-peer electronic cash system” on the Internet. In this work the first time the concept of a digital decentralized currency was grossly imagines and topped with many mathmatischen formulas. However, one does not know whether or hides behind this pseudonym only one person if there is more than one man. The fact is that this paper represents the birth of Bitcoins and many other later following crypto currencies.

What is Bitcoin mining and how many bitcoins exist?

In the traditional money banks decide how to print a lot of money and output, but Bitcoins have no such bank. There are so-called Miner, who use a particular Sofware to solve complex computing tasks. They receive for a share of Bitcoins as a reward.

Each transaction that is made, is handled by the Bitcoin network by collecting all the transactions in a given period and created a list that is called block. The job of a miner is to confirm, among other things these transactions and in a ledger entered (the block chain).

is exciting because these block chain is accessible to anybody publicly, so here already bursting a little dream of anonymity. Everyone can understand each transaction, as everything is public.

Actually, there are only a maximum of 21 million Bitcoins, this is specified in the Bitcoin protocol. However, the coins can also be broken down into smaller parts. The smallest part of Bitcoins is a hundred millionth. These small parts are then called Satoshi named they are after Bitcoin inventor under the pseudonym Satoshi Nakamoto.

Bitcoin or Sofware based solely on mathematics. The software follows to calculate a mathematical formula to Bitcoins. In principle, the Bitcoin is like a large computational task for which there are exactly 21 million solutions and each Bitcoin is just one of these solutions, which is calculated when the Bitcoin mining. Because it is increasingly difficult even to find valid solutions, more and more energy and computing power is needed, so that now the Bitcoin mining takes place in special mining farms with special hardware. Details can be found in our Bitcoin Mining products.

Bitcoin software itself is an open-source software. So everyone can see the source code and look up what the software and whether it is doing what it should. So it’s a completely transparent system here.