Bitcoin is the first and (at the moment) the most successful attempt to create a decentralized currency or, more precisely, a decentralized way of transferring value.

Bitcoin is based on the idea of ​​transferring value without going through a central intermediary (peer-to-peer principle). When transferring bitcoin, you do not need a bank or a central accounting center therefore, your transfer cannot be canceled and your money cannot be blocked (withdrawn, etc.).

At the moment (2017), there is heated debate about whether Bitcoin is money most tend to consider it a product, either a value or an author’s sign. We, in our company, are inclined to consider it money, because it has the properties of money (more so than any other thing on the planet).

Money properties

  • Recognition (the code of bitcoin clients is open, it is easy to find out at what address how much money is lying)
  • Limited (now there are about 15 million bitcoins, and its emission is limited to 21 million) - no one will ever be able to mine more.
  • Value (bitcoin doesn't weigh anything) at the address, which is a 48-digit number, you can store any number of bitcoins
  • Transportability (you can send it anywhere and your transfer cannot even be blocked) Divisibility (we divide bitcoin up to 8 decimal places)
  • As you can see nothing else is even close to Bitcoin in these properties. Gold is much harder to identify, harder to transport, harder to share. Dollars (and even more so any other fiat currency) are unlimited to issue, less transportable, etc.

Bitcoin is the best type of money and so it gains value so quickly (in 2017 it grew in price by 15-20 times) and in 5 years by 200 times.

What is bitcoin? This is a record in a distributed database.

What does it mean to have bitcoin? This means having a private key (256-digit binary number) that can decrypt a memory cell.

What does it mean to transfer bitcoin? This means decrypting the code containing the record with 1 bitcoin and then encrypt it with the foreign public key (after that, only one who has the corresponding private key can decrypt it).

How to get bitcoin? You can buy bitcoin on an exchange (such as ours), or "get" it and solve a difficult mathematical problem.