The Guys in Tech

A while ago we made a post about Bitcoin. That was way back in 2013 when Bitcoin wasn't very popular. In the mid of 2013, about exactly a year ago the value of 1 Bitcoin was around a $120. As of today, while you are reading this post, the value of 1 Bitcoin is close to a $600!! So whats changed, that has caused this currency to become 5 times it's value in a year? Well, let's find out.

Hello guys, you must have heard of the recent hype about bitcoins and their dominance in the future today let us know about bitcoins. What is a Bitcoin? Bitcoin   ( BTC ) is a cryptocurrency  first described in a 2008 paper by   pseudonymous   developer   Satoshi Nakamoto, who called it a   peer-to-peer , electronic cash system. Bitcoin creation and transfer is based on an   open source   cryptographic protocol   and is not managed by any central authority. Each bitcoin is subdivided down to eight decimal places, forming 100 million smaller units called satoshis. Bitcoins can be transferred through a   computer   or   smartphone   without an intermediate financial institution. What are the advantages of using bitcoin? the transactions are anonymous. worldwide payment. almost zero processing charges. currency value does not depend on gold or Forex reserves(like real currencies) . bitcoins can be mined(minte...