The role played by Bitcoin price!
WHY BITCOIN?
Bitcoin can be used to buy the good anonymously and international payments are easy to make because it is not collaborated with any country or subject to any regulation. It must be beneficial for the small business because there is no credit card fee. But it is also used as investment because the value of the bitcoin is so much fluctuating that it can go up anytime.
EXCHANGE
Market places are called as “bitcoin exchanges” which allow people to buy and sell bitcoin using different currencies. While doing the transactions, there is a thing to be concernedabout, because there is noproper documentation or banks. As In 2016 Bitfinex was hacked and bitcoin worth tens of millions were stolen from Bitfinix . So, there is high amount of risk while doing the trade action. People can send bitcoin price easily through mobile apps as well as from computers. It is like the sending cash digitally. A document was published where a guy called Satoshi Nakamoto called white paper suggests a way of creating a system for a decentralized currency called bitcoin. This system claims to create digital that saves the double spending problem without the need for a central authority.
ADVANTAGE
- Give you complete control over money
- No government or bank decide to freeze your account
- Cuts also the middlemen
- Easy to transfer
BITCOIN MINING
Bitcoin price can mine by some specialized computers. The role of miner is to secure the transactions. Mining can be done only by solving a computational problem which allows them to chain together block of transaction. For that miner get the reward. Bitcoin mining ensures that issuance of new bitcoin, confirming transaction and security to. So, we can say that efficiency of bitcoin mining is improving constantly. Which provide the more security.
We can conclude the point by saying this there Is always pros and cons of everything.