What is bitcoin The ideas we have about Bitcoin
Bitcoin is a cryptocurrency that is the world’s first open-source system in the financial sector through which no financial institution or anything else is required for transactions. However, it is not a currency issued by the government of any country. It is used only online. It is not printed the way money or dollars are printed.
The tiny bitcoin unit is Satoshi, and the name originally came from a man by the pseudonym Satoshi Nakamoto who was the founder of Bitcoin and introduced Bitcoin in 2009. However, there is speculation as to who is the originator of its coin design, which is yet to be revealed.
About 90% of people think that you have to buy 1 bitcoin to buy bitcoin. However, this idea is wrong. At present, the market value of one bitcoin is about 21,000 US dollars, more than 19 lakh Bangladeshi rupees. Anyone can buy less than one bitcoin if they want. For example, it is possible to buy 0.01 bitcoin, even 0.001 bitcoin. Anyone can buy Bitcoin up to 8 decimal places.
Many people think that the price of Bitcoin never goes down but goes up. This is nothing but a misconception. Because the market price of Bitcoin and the market price of the stock market are the same. It can increase or decrease at any time.
Is it possible to regulate Bitcoin by law? Many people think that using a pseudonym may avoid the eyes of the law, this idea is wrong because the law can control bitcoin. This is not impossible. Bitcoin has already been declared illegal in many countries. It has been mentioned that such cryptocurrency is not legal in India too and a warning notice has been issued by Indian Bank.
If anyone thinks that Bitcoin is the only cryptocurrency then you are wrong because there are many more cryptocurrencies besides Bitcoin. There are many cryptocurrencies like Stellar, Ethereum, Lightcoin in the market. Therefore Bitcoin is not the only cryptocurrency. However, there is no doubt that Bitcoin is at the top in terms of popularity.