What is Bitcoin? How to Mine Bitcoin?

Friends all the currencies like Rupee, euro, dollar, pound, yen are printed currencies or coins and may be possible you having above currencies in your wallet and you all have ever purchase something in your life from trading these printed currencies or coins.

But what’s your reaction if i told you that there are some currencies which you can’t see and you can’t touch them that is only stored electronically in your phone, computer or any other storage media.
So friends this type of currency is Bitcoin its only consist word coin in his name but in reality it’s neither a note nor a coin it is only Virtual Currency.

First get clear what’s the difference between simple blank paper and printed currency which is also manufactured from paper physically both are piece of paper but Printed currencies value may be $10,$20,$100 varies differently because there are some authorities, banks, governments and some peoples who decide collectively its value and everyone believes its value.

But in Bitcoin case there is no centralized authority.

Bitcoin was started first time in 2009 by Satoshi Nakamot.

Now talk about Bitcoin value, How you can earn Bitcoin and it is good to invest in Bitcoin or not?
From current scenario bitcoin value is 5754.00 US Dollar but this value fluctuate at anytime because there is no centralized authority.

Bitcoin trade can be one to one if i have bitcoin and i want to send you I can send it directly without involvement of any bank, your account can’t be freeze .

Now how to earn bitcoin and spend it?
There are many ways of earning Bitcoins-

1. Purchased bitcoin directly for example the value of bitcoin is $650 then I spend $650 to purchase 1 bitcoin it will stored online in my account in future I can sale my bitcoin if its value increases or decreases.
   You can also exchange bitcoin from any commodity of the current value of bitcoin.
   You can also mine bitcoins (from mining the bitcoins come in the market) only fixed number of bitcoins can come in the market (because in future its value didn’t go down).
   Only 21 millions bitcoin can be mined or come into the market, but there is one problem while transaction of printed money bank check and verify the accounts and take some service charge but in case of transaction of bitcon there is no bank to verify and there is some maths problem attach with it and there were number of users in the world who wants to mine bitcoins.
   Those miners have powerful computers and GPU’s, Applications specific IC and they try to verify those bitcoin transaction by solving maths problems attached to it when they successfully mined the bitcoin transaction then transaction will be completed between the two users and in return the miner will get some amount of bitcoins in reward.

Bitcoin can be break up to 8 decimals points this mean you can spend any fraction of bitcoin from it you don’t need to spend whole 1 bitcoin.
It’s not accepted everywhere not all buyers accept it but Bitcoins have complete transparency.
Thank You Friends.
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