Bitcoin is quite the buzz nowadays when it comes to digital currency. It was ranked 27 in the list of Top 100 Influential Blockchain Organisations on 29 March 2016. Also for combined OB1 and OpenBazzar, it has received three awards, ‘Most Promising Consumer Application’, ‘Bitcoin Champion of the Year’ and ‘Best New Start-up’. Bitcoin is basically a non-profit American corporation which was founded in 2012 September. Llew Claasen was appointed as Executive Director on 1 July 2016 during the Blockchain Training Conference.
Bitcoin does not have a central authority or say, middlemen, unlike other currencies. Bitcoin is directly sent from person to person without the involvement of the bank. It is a completely decentralized currency powered by its users itself and uses a peer-to-peer network. Another unique thing this digital money is that they are limited (21 million and), besides being an open source currency.
WHY IS BITCOING SO POPULAR?
The foremost reasons to opt for Bitcoin, is its identity – Bitcoin is the most recognizable currency now. Known in every continent and country of the world. It has the world largest computer networking system. It is modelled on Linux Foundation.
If you use conventional money it can be torn or perhaps get lost; even your debit card or credit card may be denied. But if you are using Bitcoin then voila, you do not need to face these problems anymore. It is that digital currency which is not going to wrack-up easily. You can say that it is divisible money and is easily transportable. This is the main reason for its acceptance in most of the countries.
Wondering where these Bitcoin currencies are stored? There is a specialized digital “Bitcoin wallet” which can be on your computer or your smartphone.
Now the next question comes, how to get Bitcoins? You can purchase them using a credit cards and these cryptocurrencies can be sold from online exchanges using euros, dollars, or any other currencies.
Moreover, there is a team at Bitcoin there to support at any day and time if you face any kind of problem.
Satoshi Nakamoto is the name of the person behind the creation of this famous cryptocurrency Bitcoin. But Satoshi Nakamoto is not the real name of the creator. According to a news website – an Australian entrepreneur and academic person – Craig Wright’s home was raided by police in Sydney. He was claimed to be Satoshi Nakamoto. Also, in an interview, he said that he tried his best to hide that he was running Bitcoin since 2009.