Bitcoin is a global encrypted electronic currency, which is completely used by users. Bitcoin is a P2P digital currency. Point-to-point transmission means a decentralized payment system.
The concept of Bitcoin was first put forward by Satoshi Nakamoto in 2009. Unlike most currencies, Bitcoin is not issued by a specific monetary institution. It is generated by a large number of calculations according to a specific algorithm. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors, and uses cryptography to ensure the security of all aspects of currency circulation. The monetary system did not exceed105,000 for four years, and then the total will be permanently limited to 2 10/05,000.
Bitcoin can be cashed and converted into the currencies of most countries. Users can use Bitcoin to buy some virtual items, or they can use Bitcoin to buy real-life items. 20171211,bitcoin futures began trading on the Chicago Board Options Exchange (CBOE). 2018 65438+1On October 24th, the Bank of Indonesia announced that it would ban bitcoin payment.