Username: PrettyWoman Rating: Asked to: Talitha Taslim Date Created: 18 Sep 2015 |
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Category | 28 |
Tag | Financial |
Question | What is bitcoin? |
Hi Pretty Woman, Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies. There are no physical Bitcoins, only balances associated with public and private keys. These balances are kept on a public ledger, along with all Bitcoin transactions, that is verified by a massive amount of computing power. |
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