Bitcoin, Cryptocarrency and Blockchain
Bitcoin has become very familiar to us in the past few months. Recently, Bangladesh Bank also issued a circular by issuing warnings about Bitcoin trading. But what is Bitcoin? Many people have no idea about this. There is no visible evidence in Bengali about this. Writing for the interpretation of Bitcoin and related cryptoconcerns and blockchain in Bengal, it is written in Bengali.
Bitcoin is a kind of cryptococoncus or symbolic coin. It is not possible to exchange money, dollars, yen, etc. in the form of symbolic currency. The existence of signage is only in the form of information in the world of the Internet. Apart from Bitcoin, there are thousands of such symbols. It is well-known, Etherium, Littlekken, Ripol, Altkayen etc. Bitcoin is the predecessor and most popular of all.
Bitcoin is one kind of information. For example, a person named 'A' has 100 bitscakes, this is an information. What is the source of this information or how can a person named 'A' earn 100 bitakayana ownership? To explain it, we have to look at the beginning of Bitcoin. Satyashi Nakamoto, the father of Bitakayana, is one of the pseudonym, whose real identity is yet to be known. He created Bitcoin in 2009. The basic technology of Bitcoin is called Blockchain. In this technology, Bitcoin exchange information is to be verified. This is an unverified block of information created by checking. It's a lot like building a brick wall. Each block is like a brick, once installed and can not be broken. As new bricks are installed, on older bricks, new blocks of Bitcoin are built on the basis of the old block. Satatashi Nakamoto created the first block and in return earned 50 Bitakainas. Thus, the creation of Bitcoin. The key point of Bitcoin is that any exchange has to go through a very complex process of scrutiny. Through this verification process, the unchanging blocks of data are created one after the other. The verification process is called mining and those who do the job are called miner. It can be said in Bengal, excavator and excavator. Bitcoin is the reward for the scrutiny and the creation of blocks. That is why Bitcoin Mining is compared to bringing the gold out of digging hills. Satoshi Nakamoto wrote his program in such a way that the creation of a maximum of 21 million (2,010 million Bitcoin) can be mined and it will be by 2140. Other signals are also mained in the form of block creation and scrutiny. Blockbuster is the main technology of all.
A person named 'A' can get Bitcoin ownership in two ways when he comes back to the previous question. It has a bitcoin mining and another, as a purchase or gift from others. But there is a currency relationship with Bitcoin? The main thing is to make the commodity exchange possible. There is acceptability relation with currency exchangeability. A 500 rupee or 100 dollar note actually has no value. We accept these as currency, so they are valuable and exchangable. In the case of signals also Let us see that people used to use kari as coins. There is no difference from signage, gold or paper currency.
Supporters of Blockchain technology say that signals will make exchange of commodities much easier. For example, someone wants to export some from Japan to Japan. The money is transferred through bank and other financial institutions, and these organizations are taking huge amount of fees for this. If you use blockchain technology, you do not need to pay this fee, so the cost will be much lower. Likewise, for sending remittances from one country to other countries, the use of sign currency is very less.
That means that other sign symbols, including Bitakayena, are easily able to occupy the currency of the current currency and that may happen in the near future. There is no doubt about this significance of blockbuster technology. But should the symbolism be considered as an investment asset such as shares, gold or diamonds? Many people are doing it and they are quite beneficial. A bitcoin was worth about $ 1 a year ago, now its price is about 14 thousand dollars. That means many people have become rich overnight investing in bitcoin. Now should we all do the same?
I think it is not fair to consider other sign symbols, such as Bitcoin, as investment. One or two of them may benefit but mostly capitalize. What's happening with Bitcoin's price rise is like a hollow balloon. Once the balloon bursts or stops, it will also happen in Bitcoin. But why would the consequence? To talk about this, our economy will have to return to a basic question. The question is, how is the value of a thing determined? For example, gold is a precious metal for us, but why? The valuation of anything is determined by two factors. One is a ready price, that is, how much it costs to create a thing. The cost of excavation of gold, diamonds etc. is very high, its reflection is at its selling price. Bitcoin mining or mining costs are also very high. Bitcoin is a powerful computer that needs to be mined, its power consumption is abnormal. So the excise value of Bitcoin is too much. In case of other signals, the cost is slightly lower. That's because Bitcoin is very expensive.
The second thing that determines the value is how much people are willing to pay in return for the product. For example, we consider the gold as a rare and attractive metal