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Bitcoin is a digital cryptocurrency that emerged in 2009, following the publication of a White Paper attributed to a mysterious person named Satoshi Nakamoto. All technical details for its implementation are explained in that paper. Bitcoin was conceived as an international payment method (foreign and local currency) not subject to the control of centralized banking authorities. This fact makes it immune to the manipulations of the monetary policies of a particular country or from international banking, as traditional fiat currencies are exposed. This is why more investors choose to be a Bitcoin Trader.
As a cryptocurrency, its creation is based on the development of an extensive network of computers interconnected through the Internet, called blockchain. This network has a double function. It validates all the purchase and sale operations of the currency. This process is carried out creating blocks of validated operations that are joined each one to the previous one, forming a chain or blockchain. Moreover, it generates new bitcoins that are gradually incorporated into the network, increasing the liquidity necessary to meet the growing demand. The process of validation of operations and generation of new currencies is known as “mining”. Mining is complete when a riddle is solved by very complex mathematical cryptography calculations. The “miner” who solves the riddle is rewarded with a specific amount of bitcoins (currently 12.5 bitcoins). For more detailed information on bitcoin, and how a blockchain or the mining process functions, see this link and read to become an Bitcoin Trader.
