Me
Hi Guys, I'm new to Blogging as well New to steemit. but I loved the Idea of a Blog, that's mines crypto by the curators choice. It's amazing concept. I thought how to start on Blogging on this new Platform, It's basically based on crypto and I have a long knowledge of Crypto from long ago, but i never thought I would buy it, because I never thought i would go So high. I'm going to Write a Smallest Explanation of what is CryptoCurrency and How it's related to real currency. As most of the people Really don't want to know about it, they want to know about How they can be Benefitted from it and how it's price is so volatile. So I'm going to divide this Blog in three Sections Viz. What is Bitcoin? , How it's related to Real Currency, and How it's price Change?
What is Bitcoin?
Bitcoin = Bit + Coin , So you understand it's a coin, so means it's a Currency. But Something is added that's Bit, Bit is related to Computers from the Age when computers were built. You can recall it when you Buy some kind of memory from a Computer Shop. it's comes in bytes now, Byte is for Bit, like Rupee is for paisa and Dollar is for cent. That's Simple? Now, it's a Currency related to Computers. Right? Now a Currency related to computer can only be Generated by Computer, and How it generates, How it is transferred and Why it is made? let's get to Know this.
The Idea of Bitcoin as Written by a man in his White Paper (Technical Paper), Satoshi Nakamoto (May be a Organization or So), The person is Unknown, but he writes that he want to Develop a peer-to-peer currency which can be used to send and recieve between individuals without involving a Bank or Financial Institution.
It Solves many problems of Traditional currencies and have many features like. :-
- It's Out of the reach of Governments and Financial Institutions. So nobody can Sue you for Holding so much or so less money.
- It can be sent across cities, countries, continents without any fees (Fees will be very less than what banks charge you).
- Bitcoins (or other Crypto) are like trading materials and we can earn from them if we can trace the market Trends. that create a new World of Trading that's Cryptocurrency trading e.g. of exchanges are Bitfinex, Bitrex, polonix etc.
- Cryptocurrency is almost impossible to Trace.
So, Now Come again to Our Question What is Bitcoin? The Answer is it's a Currency that can be Generated by Computer's processor and it can be Transferred by using computers through Wallets (CryptoCurrency Wallets).
................. More Coming Soon....... thanks it was my first Article.
Welcome to steemit!
First of all I'd like to thank you for making a decent first post.
I'm not sure that more bitcoin explanations in English are really needed on this platform but I usually monitor Bitcoin posts as they come out and its been a while since I saw something that took some work.
As you will soon find out, this platform is completely full of junk.
In the Bitcoin community specifically you will get tired of people just shouting out prices and making stupid predictions that add no value.
I am allways looking for good writers to follow and you have just made the mark. Thanks for that.
Please keep up the quality on future posts!
thanks. I'm also up for non-junk material, that's why i joined this platform. I will try to see you work also. thanks again.
Are creeds such simple things like the clothes which a man can change at will and put on at will? Creeds are such for which people live for ages and ages.
- Mahatma Gandhi
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thanks.