Bitcoin: definition, price evolution, how to buy it

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Bitcoin is both a cryptocurrency and a blockchain protocol that allows transactions to be carried out transparently and securely.

Definition of bitcoin

Bitcoin is an effective coin shaped in 2009 by a nameless human being. Different conservative currency (also call fiat currency), bit coin btc price is not issued and administered by a banking power. It is an issue on the blockchain protocol of a similar name. This skill makes it likely to store up and transmit information in a see-through, safe manner and without a central control body. Bitcoin, like many other cryptocurrencies, is brought into circulation through mining. “Miners,” people spread all over the world, perform mathematical calculations with their computer hardware for the bitcoin network to verify dealings, and add to their safety. In exchange, they take delivery of bitcoins. They can then be rehabilitated into fiat currency or exchanged for additional cryptocurrencies on swap platforms.

The subject of bitcoins is limited to 21 million units, as provided for in the initial code. This quantity should be reached in 2140. In early 2018, the number of bitcoin issued passed the 17 million mark or 80% of the total. Due to the difficulty of growing calculations, bitcoin is created at a decreasing rate: 12.5 bitcoins every ten minutes today (against 50 bitcoins in 2009). Note that the smallest division of bitcoin is satoshi. 1 satoshi = 0.00000001 bitcoin.

Bitcoin price in euros

There is no official value for bitcoin. This indicator is only an average of the bitcoin prices (usually in dollars) on all of the world’s cryptocurrency exchange platforms. There are several sites that use this method, the most famous of which is CoinmarketCap btc price . How is the price of bitcoin determined? Quite simply by the law of supply and demand. On December 1, 2019, the price of bitcoin amounted to 6,696 euros.

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