How does Bitcoin work?
Bitcoin is a virtual virtual currency. It can save its own value, bank or any other organization to save bitcoin after it is not needed. Bitcoin behaves like gold. It increases the value of your own as gold and exchange it at will. It is possible to earn a lot of money by selling the Bitcoin and increasing the price in the future. But there is no increase in the price of Bitcoin at all times, but at the very least it reduces the cost of Bitcoin.
Bitcoin is operated through Blockchain. Block chains are a very simple account. Blockquanes are different for each user and their personal bitcoin wallet. Transaction of all Bitakayen transactions is recorded in a public accountant as a proof of transaction. This process helps in protecting people from Bitcoin fraud. Bitcoin is written on the wallet in digital wallet, not written in personal name. That means that Bitcoin Transaction can be completely hidden (Anonymously). While someone else will not be able to see your personal identity easily, but they can see your Bitcoin Wallet Transaction History.
If you send Bitcoin to a bitcane wallet, then it is pending for moderation. If a minor transaction is not approved, then the bit coins will not reach the other side of the wallet. Minor has to pay seven hundred rupees for this moderation. If there is a powerful computer, then anyone can become Bitcoin Miner.
General currency is regulated by the government of the country. Whenever they need they produce new coins. Bitcoin has no such rules. But Bitcoin has a limit on creation. Bitcoin production will be automatically stopped after reaching 21 million units worldwide. If the amount of bitcoin is too high then its price decreases...