Bitcoin: Digitalized use of money

The most popular Bitcoin is digital money / emoney or the cryptocurrency of currencies that can only be used instead of the traditional currency exchange via the Internet.

This currency circulates entirely on the Internet. Although this is a rupee, dollars, pounds, euro, there is no bank, person or institution to control the behavior of Bitcoin.

It is a currency unit that is designed to manage day to day cash needs. Bitcoin is browsing on its own network, and this type of currency is used by users of that network.

• Who started?

Satoshi Nakamoto, who introduced the first proposal on Bitcoin, introduced this as an online finance deal in 2009.

The main objective of this was to use money without surrendering to the administration. The world's leading computer scientists and IT security experts are now paying attention to this Bitcoin source code network.

This is also the latest investment wave in the business world.

• Can Bitcoin be copied?
Experts believe that the digital money is a very complicated software that can not be copied and forged because it is a complicated software.

But last week, unauthorized Hackens Bitcoin stolen 4,700 towers worth approximately 80 million US dollars. Although it was predicted that this massive thieves could fall off the value of Bitcoin, world economists are delighted to see the value increase day by day.



• How to store?

We often hold the money needed for day-to-day financial transactions. The simple idea is digitalized and Bitcoin can be kept in a purse.

This is called a Bitcoin Wallet. It is an 'app' and organizations and organizations that provide Bitcoin Wallet services have already begun a huge amount of globalization across the globe.

Of these, it is the responsibility of the consumer to select a trustworthy firm for its investment. Once no one has started to deal with Bitcoin, detailed notes of all transactions are listed in this Bitcoin Wallet.

• How to buy Bitcoin
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Although Bitcoin can be purchased using a credit card, this facility has not been granted to Sri Lanka by now. As a result, a Sri Lankan investor can only buy through Bitcoin through an exchange or organization.

Due to the high demand for digital money, there was a significant increase in the value of bitcoin within hours. Once, the Bitcoin price was recorded as US $ 18,000, but later it fell to $ 13,963.

A bitcoin unit is made up of 100,000,000 small shares. This is the same as a sum of seven or ten pounds.

As a result, Bitcoin can also purchase even a small amount. The smallest bitcoin available to anyone can not be bought at 0.00000001, but the smallest unit known as Satoshi.



• Is it possible to deal with everyday life?
There are a number of institutions, restaurants and websites available for Bitcoin to buy the goods or services they purchase and transfer money between accounts using computers or computers.



• Special features of Bitcoin
• Institutions or individuals designing Bitcoin through Bitcoin mining via a very complex digital process, called Bitcoin miners. According to the limits set by bitcoin source code, the world should circulate in the order of 21 million Bitcoin.

• This is not the case with any person, bank, institution or organization in Bitcoin.

• BitCoin's Chief Ledger is called Block Chain, and all transactions within that network are logged automatically in this ledger. Bitcoin Transactions That Look At The World Today All investors in the world can be seen Bitcoin's transactions 100% off-line. But the details of account holders in the Block Chain ledger are not disclosed in any way. You can also maintain a bitcoin account under an alias name. This network identifies Bitcoin account holders through a unique method.

• Another feature of Bitcoin is the ability to instantly transmit any amount of money in any part of the world without the help of any financial institution or bank. The usual methods and rules for importing or transferring money from a country are not relevant to Bitcoin transactions. As a result, you do not have to pay service fees or an extra payment for Bitcoin.

• In this way, a transaction from Bitcoin can not be reversed or a call back. If the wrong bitcoin was given to someone, then the loss would have to be borne except in the case of the person willingly returning it.



Economists in the world have been warned that "Bitcoin's rising value, comparable to" speed-charged and free-at-train ".

Someone who likens it to a rapidly blowing ball suspects that the ball will someday be blasted.

Bitcoin investment is also described as a "gambler" because of the risk involved. The billions of dollars have been invested here, but the total value of the Bitcoin network is 268 billion US dollars compared with the world economy. One economic analyst is of the view that, if at any given time this collapse, it does not inspire the world economy.



Several countries including China, India and the United Kingdom have already warned Bitcoin investors, and BTCC, a leading Bitcoin Exchange, China, was able to stop all transactions at the end of September.

However, recently, the CBOE, the foremost money-changer in the USA, launched Bitcoin transactions with the added value of this revolutionary digital currency and more security.