There’s a lot of people who still don’t know the concept of Bitcoins. To understand a little bit better this whole idea, you need a proper introduction. You need to know where it comes from, how it works, if it’s legal and all the questions you probably have. That’s why we’re about to show you an introduction to Bitcoins and try to answer all the questions you might have.
Introduction to Bitcoins
A lot of people know it as the “Internet currency” and it’s because all the movements are made online. Unlike traditional currencies, it doesn’t have any central authority. People who know about Bitcoins know that they can share, create and transfer them without any regulations. There are no governments, no companies and no banks in charge of this currency.
On the other hand, the creator or creators of this currency have a fake name. They use the name Satoshi Nakamoto as a way to mislead the authorities. The whole Bitcoin concept started as a project in 2007, but it was in 2008 when it finally came out. The site Bitcoin.org came out in August of the same year. People had to wait a year and a half for the first purchase with Bitcoins. A guy paid 10.000 Bitcoins (Back in the day it was like 25$) for a couple of pizzas.
Years passed and Bitcoin became stronger. In January 2014 this currency reached a 1000$ per unit. However, its price has gone up and down, that’s depending on its demand. We don’t know exactly what was woing on through Nakamoto’s mind when he decided to create this currency. But we know one thing for sure, it was an answer to the current financial paradigm. This currency established a plan of action. The goal is to give savers a security against the dilution of their savings, what we usually call inflation. As you can see, this is a proper introduction to Bitcoins. This is for all the people who want to have a basic idea about this digital currency.