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Reasons for the high value of cryptocurrency BTC

Cryptocurrency BTC, it is the first decentralized digital currency, without a central bank, that can be sent from one person to another through the Bitcoin network in a manner without the need for a third party (intermediary such as banks), network transfers are verified using encryption and recorded in a distributed ledger, research produced by the University of Cambridge estimates that in 2017.

There are 2.9 to 5.8 million users using a cryptocurrency wallet, most of them using cryptocurrency BTC.

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Cryptocurrency BTC

cryptocurrency BTC

Cryptocurrency BTC criticizes, because it can be used for illegal transactions, because of the high amount of electricity, which is used.

For mining to produce a new amount of bitcoin, exchange rate volatility, and hacks into bitcoin exchanges, some economists.

Have described it as a “speculative bubble”, and since the Bitcoin network has been operating and has not stopped since then.

No one has been able to hack the Bitcoin block chain because of the currency’s consensus method.

 

Bitcoin coinage

In a research paper published in 2008, a person claiming to be Satoshi Nakamoto suggested the idea of Bitcoin and described it.

As a peer-to-peer electronic cash system, a technical term meaning direct dealing, and between one user and another without an intermediary.

The curators say cryptocurrency BTC

 The purpose of this currency, which was first introduced into circulation in 2009.

Is to transform the global economy in the same way that the Internet has transformed publishing methods.

 

The unit of account

cryptocurrency BTC

Bitcoin is the cryptocurrency BTC, and the trading symbol used to represent Bitcoin.

Is BTC and XTC and the Unicode symbol used is ₿, for some alternate units for small amounts of bitcoin.

The smallest value is the sat unit, which was named after the currency’s creator, Satoshi Nakamoto.

And one hundred millionth of a bitcoin equals 1100,000,000 bitcoins, One thousandth of a Bitcoin is a milli-bitcoin.

 

Blockchain

A block chain is defined as the world’s largest distributed and open digital record, facilitating the transfer of ownership origins.

Without the requirement for an intermediary, from one party to another at the same time and to a great degree.

Of security for the transfer process in the face of fraud, and participate in this record all individuals around the world.

The Bitcoin system maintains a ledger in which all network events are documented to ensure the accuracy of transfers.

Bitcoin price

The price of cryptocurrency BTC is unstable and it is very likely to hear about Bitcoin crossing the $58000 barrier.

A price that does not give Bitcoin its right, and among the reasons for believing this is that Bitcoin is a commodity.

This necessitates a significant quantity of electricity, and its cost is expected to be equivalent.

Conclusion

In conclusion, cryptocurrency BTC is one of the first tokens that appeared in the competitive arena in the field of investment.

As it constitutes a relative difference in economics, this currency includes a large number of features that any user is looking for.

References

coinmarketcap

binance

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