Introductory video and current Bitcoin price. Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users bitcoin referral link no central authority or middlemen. Send Bitcoin from your computer, tablet, smart phone or other device, to anyone, anywhere in the world, day and night. Bitcoin verifies transactions with the same state-of-the-art encryption that is used in banking, military and government applications.
Using the Bitcoin network is free, except for a voluntary fee you can use to speed up transaction processing. I’m a big fan of Bitcoin Regulation of money supply needs to be depoliticized. Bitcoin is a technological tour de force. Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments. Who is involved in Bitcoin? Who controls the Bitcoin network?
By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.
The first Bitcoin specification and proof of concept was published in 2009 by an unknown individual under the pseudonym Satoshi Nakamoto who revealed little about himself and left the project in late 2010. The Bitcoin community has since grown exponentially. Satoshi’s anonymity often raises unjustified concerns because of a misunderstanding of Bitcoin’s open-source nature. Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin’s inventor is probably as relevant today as the identity of the person who invented paper.
Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. While developers are improving the software they cannot force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus. From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and enables a user to send and receive bitcoins. Behind the scenes, the Bitcoin network is sharing a massive public ledger called the “block chain”.