How does Bitcoin work ?

BITCOIN

Today we are going to talk about a very interesting topic.

I am sure that if you had invested your 1000 rupees 11 years before today, then it would have been 50 crores in 2021. some people went to think that how can this happen but it is absolutely true that it has happened like this.

I am talking about Bitcoin

The price of this Bitcoin in 2010 was 0.008$ which means 5 rupees you sees its price today then in 2021 today its price is more than 31 lakh rupees Maybe when you are reading this blog then its price may come down very much or else more than 31 lakhs may go up.

And this is its specialty that it can fall too much one day and can also go up.

For which great companies use it for investment.

It is also an amazing thing that the largest bank in the world was J.P Morgan with the largest market cab and Bank of America at number two.
But Bitcoin has left J.P Morgan market cabs far below JPMorgan Bank Has a Market of $414 Billion and Bitcoin has become a $765 billion market.
It is possible that in the coming time, Western Union will also use Blockchain technique.
Jap Morgan Bank used to be the biggest enemy of Bitcoin, but in 2017 when Bitcoin was at its all-time high price, at that time the CEO of J.P Morgan said that it was a fraud.

But now things are changing. A few days back news surfaced that JP Morgan has opened corporate accounts for the popular crypto exchanges Coin and Gemini. This shows that those who were against it, they are coming to it after understanding it.

After studying this, it is coming in our mind that we should also invest in it and if we invest in it then how can we do it?

Before this we know how bitcoin works, I hope that after reading this blog, your doubts about bitcoin will be cleared. Bitcoin is a virtual currency that cannot be exchanged like the common dollar, pound or rupee, because it is not financially created, it is a digital currency Which we see only in the digital net, this is not just one bitcoin but there are many more thousands of coins.

But out of these, funds are famous such as Ripple, Ethereum and many more. Bitcoin came to the market in 2009 It is said that a person named Santoshi NakaMoto had brought bitcoin to the market.
So the amazing thing is that our money runs in India and dollars abroad.

Every type of currency moves in its own right, otherwise it has to be exchanged by going to another country.

But Bitcoin runs in every country. This is an international business.
This world is such a currency which is not under the control of any country, group or government, or does it have any relation with anyone.
This is a kind of software that has been made and put in the mobiles or computers and it works on the Blockchain.
Santoshi NakaMoto used to say that it takes more money to send money from one place to another, so he was made to do this because of this. From which no third party charges fees and no one has control over this currency. No one owns a Bitcoin like the rupee is under the control of RBI. Nor can anyone change with its concept, only the country can make Bitcoin in its own country but it cannot eliminate it. With this, any person in the world can collect the biggest amount in a minute from one corner of the world to another. And that too with very small fees, there is no third party to send money from one place to another. Like bank, paypal, western union, visa master card, all this does not come. It uses Blockchain method

and no one can change this, the transactions that take place in it make the Blockchain and computers solve those blocks. The computers that solve this, they get some reward or say that they get a new Bitcoin which we call mining. The one we want to pay money only needs one wallet address, which is of many numbers. Apart from this, he does not need any name, no phone number, no address, no Id, only one code is needed which is of many words. And that is the address of his wallet, at this address, any amount of money can be sent from any corner of the world.

You must understand that new Bitcoin is created on every transaction, but it also tells you why its rate is increasing.

Its rate has been increased because it will make only 21 million, so the thing is that now 18 million Bitcoins have been made.
And 21 million more are made, the supply is less and the demand is more, so its rate is increasing more.
Between 2009,10,11 people used to get 10,20,50 Bitcoins for completing a transaction but it might take us a long time to collect 50 Bitcoins today.
You now the thing is that their demand is very high and the supply is very less and the second number, its hype has become very much, everyone has thought that so many years ago it was so much, so we would have had so much money. The amazing thing is that last year if we had put 50 lakh rupees in this, it would have become 30 lakh rupees today.
It can also be used in the form of money, but let us tell you that its rate keeps increasing and decreasing very much. Several lakhs goes down in a day and many lakhs is upper. That's why not much buying can be done with it and more people use it for investment Because its rates are giving a lot of profit for the long term, which cannot give any investment and neither can gold
But still Bitcoin is accepted in many places in foreign countries and it has been fully regulated in countries like Japan and tax has also been imposed on it. It also has ATM.

But today it is not known that where is Santoshi Nakamoto?
and
Did he really invent it?
Rest of the information will be told in the next blog.