What is Bitcoin (BTC)

What is Bitcoin (BTC)?
Bitcoin; is a digital currency issued as an open source code in the crypto (money) category. Bitcoin represents a currency feature that we can spend in our everyday shopping and online environments, such as the currency we use today, such as TL, Dollar, Euro. The distinguishing feature of Bitcoin from other currencies is that monetary authorities and governments have no control over Bitcoin. Because Bitcoin is produced not under the control of the governments but under the control of the Bitcoin network.

In 2009, Bitcoin was published as a "protocol" by a nickname by Satoshi Nakamoto. According to this protocol; Bitcoins are an independent currency, which is based on peer-to-peer networks between individuals and can not be controlled by a central authority, whose transaction fee is rather low.

Since February 2015, more than 100,000 merchants and sellers have accepted bitcoin as a payment. According to the research conducted by Cambridge University in 2017, 2.95 to 5.8 million unique users are using crypto money.

In order to better understand Bitcoin, we can list the properties of Bitcoin as follows:

Bitcoin is an independent currency. Since the production of bitcoins does not take place under the control of monetary authorities and governments, as mentioned above, these authorities are not in control of Bitcoin. For this reason it would be appropriate to characterize Bitcoin as an independent currency.

Provides anonymity to Bitcoin users. Since Bitcoin accounts carry the ability to be encrypted and can be opened multiple times from these accounts, the transactions are made anonymous. When you open Bitcoin accounts, you only need to give yourself an e-mail address and name.

The transactions on the Bitcoin network can be viewed by everyone. In a data center called Block Chain, all transactions made via Bitcoin are recorded. All transactions between Bitcoin accounts are registered by this network first, and then the transaction is completed. Users have the luxury of seeing which account is being processed. But since accounts are encrypted, they never know who these accounts belong to.

Bitcoin account setup is quite simple. You can pay for your Bitcoin accounts at no charge, just as you can without question, and you do not pay a fee for your transactions. Since bitcoins are sent through the data sharing network between people, there is no need to pay transaction fees to any brokerage house.

The money transfers you make in Bitcoin happen very fast. Money transfers made with any brokerage house or bank can be delayed by many obstacles. However, since Bitcoin is based on data sharing between individuals, money transfers can be performed very quickly at any time of the day.

Bitcoin has no transaction cancellation. Once you have transferred money with Bitcoin, this transaction can not be canceled. The only way to get the money back is to make a transfer of money to you again. This seems to be a solution to the "chargeback" incident that caused problems in banks.

Bitcoin Mining (Bitcoin Mining)
Mining is the process of adding transaction records to Bitcoin's accounting for past transactions. The past transactions are called block chain. The block chain is used to confirm operations on the remaining network. Bitcoin nodes use the block chain to separate legitimate bitcoin transactions with attempts to re-spend money that have already been spent elsewhere.

Mining is deliberately designed to be intensively sourced and difficult, so that the number of blocks found by miners every day remains constant. The individual blocks must contain a working document that can be considered valid.

The main purpose of your mining is to make sure that the bitcoin nodes have access to a safe, compulsive consensus. Mining is also the mechanism used to incorporate bitcoins into the system: miners, processing fees and "benefit payments" for newly created coins. Both serve to disseminate the new coin money in a distributed manner, as well as to encourage people to provide security for the system.

How Much Bitcoin (BTC) Is?
By 2013, the bitcoin market was almost exclusively active in the United States. After Bitcoin's market value approached 1 billion dollars, bitcoin was laced as "balloon" by some commentators. At the beginning of April 2013, the price per bitcoin fell from $ 266 to $ 50, and then rose to $ 100. Within two weeks, starting at the end of June 2013, the price has been steadily declining to $ 70. Bitcoin / usd, which started to recover afterwards, rose to 140 on 1 October. On October 2, the Silk Road was taken over by the FBI. After this incident, the bitcoin value quickly dropped to 110 bucks. Bitcoin managed to recover afterwards, on 28 November 2013