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Know about the electronic currency

2017-08-10 09:56 am | No Views : 232


The emergence of electronic banks and financial movement on the Internet has had a major impact on the financial affairs in the real world dramatically, Pitkin, is a fake currency but , Of its manufacture, its benefits, what its negatives, this can be identified dear reader in several points during this report.

What is Bitcoin?

A virtual (encrypted) coin of an unknown design, may be a person, organization, or a particular country, but so far we do not know anything about the inventor of this currency but it is called "Satoshi Nakamoto".
Pitcairn is similar to known currencies such as the dollar and the euro, but they are different in that they are fake, do not actually exist. They are online transactions that operate on a peer-to-peer basis, that is, direct interaction between users without a broker.
The goal of Bitcoin was to change the global economy in the same way that the Web changed the methods of publishing. In 2016, an Australian businessman named Craig Stephen Wright announced that he was Satoshi Nakamoto in advance of technical proof, but quickly discovered his falsity easily, to remain the inventor of the currency Not yet known.
Now let me remind you of the advantages and disadvantages of electronic currency.

3 advantages of Bitcoin make it the most important among currencies

Low Cost & Speed:

With Bitcoin there is no intermediary between you and the merchant to transfer the money, which saves you money transfer money, so the Bitcoin does not exist in fact, so it will not move, but all you have to put code from your wallet to the merchant's portfolio until the process between you and without an intermediary, Peer-to-peer process previously mentioned.


Bitcoin keeps your money secret, so no one can monitor or even intervene in your buying and selling operations, as well as reduce the control of the government and banks on the currency.


It allows a person to deal with them because they are not connected to a particular geographic location. This eliminates the central banks' control over the printing of money, which caused inflation and high prices. The reason this currency is protected against inflation is its limited number. Satoshi Nakamoto The production of 21 million coins by 2140, and their limited number gave them great value in the market, after the price of only 6 cents, rose to more than $ 1,000, then fell to $ 600, and then returned to $ 3390 these days.

Disadvantages of Bitcoin


The secret of the content Although it is a feature, it is also a big drawback to it, as it gives easy access to suspicious transactions on the Internet, such as Silkroad, which participated in drug trafficking.


We have also mentioned that the process of mining in the Betquin is an equation that the device resolves, which leads some to suspect the existence of organizations working in secret to solve complex equations.

The identity of the inventor of the Bitcoin:

The mystery of Satoshi Nakamoto's identity is unknown. No one knows if he is a man, a woman, or a group of people, and we do not know how much this currency has. If a country hides behind this figure and owns the largest share.

International recognition

Germany is the only country to officially recognize the currency as a form of electronic money. The German government has therefore ruled that it can tax the profits of companies that deal with Bitcoin while individual financial transactions remain tax-free.
A federal judge in the United States recently ruled that "Bitcoin" is a currency and a type of currency and can be regulated by the government, but the United States has not officially recognized the currency yet.
Some believe that official recognition carries a positive side: giving the currency more legitimacy. Others believe that this may open the door to further regulating the currency and linking it to governments. This contradicts one of the characteristics of "Bitcoin" as a currency that is not subject to any party.

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