Bitcoin is an experimental property transfer and verification system based on a peer-to-peer network without any central authority.
The initial application and the main innovation of the Bitcoin network is a decentralized digital currency whose unit of account is bitcoin.
Bitcoin works with software and a pr36otocol that allows participants to issue bitcoins and manage transactions collectively and automatically. As a free protocol (open source code), it also allows interoperability of the software and -services that use it. As a currency, bitcoin is both a payment intermediary and a store of value.
Bitcoin is designed to be self-regulating. The limited inflation of the Bitcoin system is distributed evenly by computing power across the network, and will be limited to 21 million units divisible to the eighth decimal place. The proper functioning of exchanges is guaranteed by a general organization that everyone can examine, because everything is public: the basic protocols, the cryptographic algorithms used, the programs making them operational, the account data and the discussions of the developers.
Possession of bitcoins is materialized by a series of numbers and letters which constitute a virtual key allowing the expenditure of bitcoins associated with it on the register. A person can hold several keys gathered in a "Bitcoin Wallet", a web, software or hardware "key ring" that allows access to the network in order to carry out transactions. The key fob allows you to consult the bitcoin balance and the public keys intended to receive payments. It also contains (often encrypted) the private keys associated with these public keys. These private keys must be kept secret, because their holder can spend the bitcoins associated with them on the ledger. Any medium (key ring) is suitable for keeping the series of symbols constituting your key ring: paper, USB key, memory, etc. With the right software, you can manage your assets on your computer or phone.
To have bitcoins on an account, you must either have a bitcoin holder given you some, for example in exchange for a good or a service, or go through an exchange platform that converts classic currencies into bitcoins. , or have earned them by participating in currency control operations.
The source codes of Bitcoin have been released under an MIT open source license which allows you to use, copy, modify, merge, publish, distribute, sublicense and / or sell copies of the software, subject to inserting a notice of copyright in all copies.
Who invented Bitcoin? Who is Satoshi Nakamoto really?
No one really knows who invented Bitcoin. Satoshi Nakamoto's name is only a pseudonym, and could just as easily refer to an individual as a large group behind this cryptocurrency ...
Many individuals have self-proclaimed themselves as the creators of Bitcoin and claimed to be the real Satoshi Nakamoto. However, there is no concrete evidence to date ...
Several reasons may explain Satoshi Nakamoto's desire to preserve his anonymity. The most obvious seems to be to protect your privacy. Bitcoin has become a truly global phenomenon, and its inventor would no doubt be harassed by the media and the public if exposed to the light.
In addition, Bitcoin represents a threat to current banking and monetary systems. If this cryptocurrency manages to outperform national currencies, governments would risk taking legal action against its creator.
Moreover, by now, this person has probably become extremely wealthy thanks to Bitcoin. In 2009, 32,489 blocks were mined with a reward rate of 50 BTC per block for a total of 1,624,500 BTC. At the end of 2020, this amount is equivalent to more than $ 30 billion.
Logically, Satoshi was one of the first to mine Bitcoin and probably owns most of the bitcoin in circulation. By revealing his identity, he would therefore risk being targeted by criminals around the world.
Before Nakamoto, Hashcash was invented in 1997 by Adam Back. Among the precursors of BTC, we can also cite b-money from Wei Dai, bit gold from Nick Szabo, and Reusable Proof of Work from Hal Finney. The original Bitcoin white paper cites Hashcash and b-money among other research from various disciplines
How to earn bitcoins?
Let's get to the heart of the matter, and what may be your main reason for being on this page: how to earn bitcoins. There are several methods.
Become a bitcoin miner
As mentioned before, the main technique to earn bitcoins is mining. To become a miner, you have to invest in powerful computers to create a "rig".
Receive bitcoins as payment
Bitcoin can now be accepted as a method of payment for many products and services. If you run a store or store, you can offer your customers to pay with bitcoin.
All you need to do is invest in a terminal, or simply display a QR code linked to your wallet address. Likewise, online businesses can add this option in addition to traditional means of payment such as bank cards or PayPal.
Receive your salary in bitcoins
If you are a self-employed or freelancer, you can get paid in bitcoins for your work. If you offer an online service, you just need to add the address of your bitcoin wallet as a payment method on your website, for example.
In addition, several platforms specialize in job offers paid in Bitcoin. We can mention Cryptogrind, Coinality, Jobs4Bitcoins and BitGigs. Likewise, Bitwage offers to convert a percentage of your salary into bitcoin.
Buy bitcoin with real money
It is very easy to buy bitcoin for real money today. Just create an account on an exchange platform like Coinbase, and deposit money in euros or any other currency into your wallet.
You can then exchange this money for Bitcoin or another cryptocurrency offered on the platform. You can then send these bitcoins to a recipient of your choice, or resell them for real money. In some countries, there are also “distributors” of Bitcoin, compatible with bank cards.
Bitcoin: what are the security risks?
To hijack the blockchain system, a cybercriminal would need to single-handedly manage 51% of the computing power that Bitcoin relies on. However, in 2020, Bitcoin is made up of more than 50,000 nodes. It is therefore highly unlikely that a cyber attack on this blockchain will ever bear fruit.
The real “risk” with Bitcoin is losing your wallet or accidentally deleting it. You will then lose all your fortune in an irremediable way ...
In addition, some websites offering to store bitcoin have defrauded their users and stolen their assets. It is therefore important to only use trusted platforms.
Exchange platforms can also be targeted by hackers. In 2014, the Japanese exchange Mt. Gox was hacked, and the equivalent of millions of dollars in bitcoin was stolen.
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