What is Bitcoin and how does it work beginners? Everything changes with time. Whatever things once existed in this world will change after some time. We used horses earlier for transportation. But today we can fly with the help of million dollar metal ships. If someone had eye problems in the past, he would have gradually gone blind. But now we know that if the right work is done in front of the eye, the vision can be restored. At one time all this was surprising. But we see the discoveries that completely change our lives. And Bitcoin is one of these inventions. If we want to understand how these finances have changed at all over time, we need to understand the function of fresh transactions. A property is completely changed during a fresh transaction. You can look at water as an example. Water can also exist as a solid we call ice which melts into normal water, and which boils into steam. The same thing happens in the world of finance. It is the US dollar but this dollar was not always the same. A lot has changed in a short span of time. And this change will continue in the future. It started with gold coins followed by paper currency which was equivalent to gold at the time. But there is nothing in the retries to back up the dollar we currently use or the currency of the country we live in. We value them only because ordinary people think they have value. So what we value is nothing but paper. But with the passage of time people started to use many different processes to make payments. Such as credit card, debit card, transfer, internet banking etc. So you must understand what I am trying to say. Our concept of what we call currency or money has changed over time. (Bitcoin is the currency of the internet What is Bitcoin and how does it work?)

What are the disadvantages of Bitcoin? (What is Bitcoin and how does it work?)

What we discussed above were about advantages. But this time we should take a look at the disadvantages. But still they are not accepted everywhere. Secondly, the government has no right or control over it. When any illegal activity happens, you have to take responsibility for it. Secondly, it is a very volatile currency. Its value changes every 30 seconds and one minute. Suppose you buy something with bitcoins but after buying that thing you don’t like it but by the time you go to return that thing, the value of bitcoins will change. So this is a big problem. But the most interesting thing is that the person who created this Bitcoin i.e. from whose head this idea came, even after 10-12 years of its creation, no one knows that person yet, but we cannot say what this Bitcoin is going to give us in the future. Because no one has ever seen the future. We still have a lot to see. And one thing we can do is wait.(Bitcoin is the currency of the internet What is Bitcoin and how does it work?)

Why can’t the government of any country print paper currency?(What is Bitcoin and how does it work?)

The reason for this is inflation or transactions. However, if more money is printed, not everyone will get everything. But the more money is printed, the more its value will decrease. Because the price of goods will increase the most, the biggest reason for this is Venezuela. Here the most inflation has reached a point where people have to weigh money instead of counting it. If a government imposes too much money for no reason, it will not be solved but the price of goods will increase more and more. The problem will be solved only when a country has more resources than money. Then gradually the paper currency turned into digital currency. But digital means the biggest problem was keeping a track record of their transactions. But in the case of digital money, it does not happen that the money you send to does not reach the person to whom you sent it. Or it reached the person you sent it to but the money didn’t get deducted from your account. A central bank agency was created to keep track of all this. The problem here is that the money you put in the bank does not stay in the bank, it invests or lends the money in different places. If the lender who is investing all this money i.e. giving loan cannot withdraw the money properly, then your money will go to waste. Just like what happened with pnc bank in india. Where people could not withdraw their money from the bank. However, if all the customers of the bank go to the bank and ask for money, then the bank will not be able to return all that money together. The money that shows in your account is just a number that the bank maintains by rotating money from different places. That is why you are giving the control of the bank to some other person for money. Or there could be a much bigger problem with the Sir of the transfer. There are only a handful of organizations that maintain these things. The possibility of corruption is very high. With big power comes big corruption and with great power comes ape sly corruption. Because you have a lot of money the government can freeze all your money if it thinks so. In 2016, Rs 500 notes and Rs 1,000 notes were scrapped. Moto by Satoshi is a 9-page document released in 2008 that outlines how the current financial system could be replaced with Bitcoin. That is, an alternative way of the way the bank is doing the transaction or recording the transaction can be seen with the help of this Bitcoin, but you need to know that Bitcoin is not the only crypto currency, there are many crypto currencies like Bitcoin in the market. Like ethereum, binance coin etc. when you do any transaction with paytm you are given record copy. But you can use that rare point through Paytm. If it could be made so that you can use that record point everywhere and if everyone accepted it, its value would increase. But this is the case with Bitcoin. Bitcoin is a crypto currency and the more people can use it, the more its value will increase in the future. Bitcoin is a digital currency and has no physical existence. When you buy a bitcoin you parse a specific address. So that you can transact it to any other bitcoin address. It is an automated structure and its organism runs automatically. However, a system or computer is needed to run this algorithm. And thousands of computers are needed to run the algorithm all over the world. And a third party is needed to maintain these thousands of computers. But if somehow the third party gets involved then the same thing will turn around. All control will pass to a third party like a bank. And to avoid this comes Bitcoin My Note. For ordinary people run Bitcoin through algorithms. Now a person gets some remote bitcoins for a small amount when a transaction becomes successful. If everyone continues to mind then the amount of Bitcoin will also increase. As I said earlier, if the currency increases, its value will decrease a lot. To maintain this very thing it is predetermined that no more than 21 million bitcoins can ever be created. So depending on the amount of Bitcoin Mine notes that Bitcoin Mine notes that is how many Bitcoins are left to be mined out of the 21 million. How many people are masturbating together. In 2009 you could mine 100-200 bitcoins in a few weeks. But currently if you want to mine a bitcoin, it may take you 100 to 200 years.(Bitcoin is the currency of the internet What is Bitcoin and how does it work?)

If someone ever gives money or currency to someone, why do they give it?(Bitcoin is the currency of the internet What is Bitcoin and how does it work?)

Maybe you have done some work for him? If not, or added value with any of his products. Again, if you give money to a shopkeeper, then the shopkeeper will give you something in return. And this rule is the whole world. You will get money only if you do any work or add value to any of his products. We use money to denote some effort or good. But it was not always measured in coins or pieces of paper. What history means is that different times have been represented by different things. For example, in the past, people have carried on this business by exchanging rice, pulses or various livestock and birds. It is called custom instead. But one thing is that these rice grains or domestic animals could not be stored by people for the whole life. Since then the use of precious metals began. For example, copper, silver or gold had an advantage in that people could store these things for a lifetime. And could spend as needed. But there was a problem that it was not possible to carry that gold or metaphor everywhere. Another problem was very small transactions and the exchange of these things became a problem. Then came the bank. You could have deposited gold and silver in the bank first. And in return the bank would give you a recipe. And many people could do any transaction on that receiver. With mother, that receipt becomes a paper currency. But the bank had gold coins to back up that paper currency. Then everything changed slowly and BRD money came. Banks used to have reserves of working gold coins for the paper used in earlier times. And on that gold people trust to transact and to accept that paper currency and when paid money comes, trust arises from gold that people’s trust goes to the government. It is not at all the bank that has gold reserves for the paper currency we currently use. Foreign governments say that paper money has value because it exists. So the question is that(Bitcoin is the currency of the internet What is Bitcoin and how does it work?)

How did Bitcoin come to be?(Bitcoin is the currency of the internet What is Bitcoin and how does it work?)

Bitcoin is a peer-to-peer electronic cash system. The document was published in 2008. And its unique name is Shatashi Nakamoto. However, who this person is, is not yet known. It is one of the most important documents of the present time. Not just a page document but one that can completely change the financial system of the future. So today we will know in very simple language what is Bitcoin? (Bitcoin is the currency of the internet What is Bitcoin and how does it work?)