What is Bitcoin?
Bitcoin is an online currency very much similar to a dollar or a pound with few deviations and changes. It was introduced by Satoshi Nakamoto in 2009 to promote peer-to-peer payment system without any mediators. This currency has occupied the minds of billions across the world and has its own share of worse and better reviews. It ensures an exchange system which is not bound by any boundary, rules or regulations. The good and bad part associated with Bitcoin is that it can’t be regulated by any government authority.
Recognition of Bitcoin as a global currency
Bitcoin has surely become popular and attained a name on the top on financial charts. It has turned out to be extraordinarily popular. Moreover, many of the top businesses across the world are considering Bitcoin as a safe and secure mode of currency for any kind of transactions. Bitcoin rates are getting higher and its mining is ruling the financial market.
The downside of Bitcoin
Popularity is always followed by criticism. With its fast and slow pace, many speculations and suspicions have risen. First, the prices of Bitcoin are a little unpredictable. On one hand, the entire world is surprised with its popularity, and on the other, lot of people are refraining from even recognizing it as a currency. All this is giving birth to more and more debate and we are yet to see the real future of Bitcoin ahead.
‘Bitcoin Mining’ – a beneficial approach
One of the most attractive features of Bitcoin is that it does not require any central bank or government to control and monitor the transactions. It’s simply a global currency. The basis of Bitcoin mining lies in fair mathematical algorithm, which allows it to cover up the political imbalance. It would never be affected by any political instability across the globe.
The concept of Bitcoin is regularly being criticized for its liberal ways of functioning and its criminal links, however, it has its own followers among whom, Bitcoin is more preferable than any other currency.