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Bitcoin (BTC 101): History, Uses, Mining, FAQ, Pros And Cons. - Investment - Nairaland

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Bitcoin (BTC 101): History, Uses, Mining, FAQ, Pros And Cons. by aozforum: 10:27pm On Mar 06, 2023
Bitcoin is a decentralized digital currency that was invented in 2009 by an unknown person using Satoshi Nakamoto's pseudonym. Its transactions are verified by a decentralized network or nodes through cryptography and recorded in a publicly distributed ledger called a blockchain.
It operates on a peer-to-peer interactions basis that does not require a third party known as cryptography to secure and verify transactions.
History
The identity of the creator is still unknown, and there is speculation...]

FAQ:
Q: How many bitcoins are there?
A: There will only ever be 21 million bitcoins in existence.
Q: Is Bitcoin legal?
A: The legality of Bitcoin varies by country. In some countries, it is legal, while in others it is not.

Pros and Cons:

Pros:
Decentralized: Bitcoin is not controlled by any government or financial institution, making it resistant to censorship and government control.
Low fees.
Pseudonymous.

Cons:
Volatility.
Limited acceptance.
Security risks.

#Bitcoin
#Crypto
#Blockchain

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https://aozforum.com/post/3787

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