Bitcoin

 


Every second the world is rapidly developing in the field of technology. Many people think its a good thing and some think it is a bad thing because, with the rapid increase in technological advancement gradually many jobs are going to be replaced with technology, for example, let's say taxi drivers in some yrs we are not going to see taxi drivers as cars will auto-drive. Due to this, the unemployment rate will increase significantly but with the decrease in jobs, many new ways of earning are emerging from which more money can be earned. In this blog post, I am going to talk about bitcoin an emerged field in this era from which people are earning millions of dollars.

 What is Money 

First of all, I am going to talk about what is money. I am going to talk about money so you can get a clear picture of what I am trying to say. Money=Value what does that mean it means that if I work for you you give me money of the value I gave to you and later on I can use that money to get something that values me. 




Value takes changes in form with the passage of time. Throughout history, money took different forms of materials such as salt, wheat, and probably gold. A material stays valuable until people trust that the material is valuable and it will stay valuable in the future to redeem it. Nowadays paper money and digital money are the most common. To generate digital money banks are everywhere.

Bitcoin

Bitcoin is decentralized advanced money, without a national bank or single executive, that can be sent from one client to another on the distributed bitcoin network without the requirement for delegates. Exchanges are checked by network hubs through cryptography and kept in a public dispersed record called a blockchain. Bitcoins area unit was created as a bequest for associate interaction called mining. they will be listed for various financial standards, items, and administrations. Bitcoin price changes from time to time.




The majority of people's opinion is that bitcoin is better than banks you may think why? Well, the major reason is that bitcoin is transparent while banks are non-transparent.In banks, you cant see people sending and receiving the money you  can't just have a sneak peek but in bitcoin, you can see the sender and receiver and the number of bitcoins sent the only thing you can't  see is that who owns the balances and who is behind the transactions 

First Transaction

The first transaction of bitcoin was done by a guy named Laszlo to buy two pizzas, he didn't have money at that time so  he paid 10 000 bitcoins at that time it was nothing but who knew those two pizzas would now worth over $100 million 


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