Someone codenamed Satoshi Nakamoto first floated the idea of Bitcoin in a paper in 2008, describing it as an electronic monetary system based in financial transactions on the peer-to-peer principle, a technical term that means dealing directly between one user and another without an intermediary (such as torrenting). Bitcoin officials say the coin was first put into circulation in 2009 to change the global economy in the same way that the web has changed publishing methods.
First Buy Position by Bitcoin
The first purchase made by Bitcoin, was for two pieces of pizza, when a programmer named László Hannić posted a discussion on the Bitcoin forum asking to buy two large pieces of pizza for 10,000 bitcoins on May 18, 2010, 11 years after that deal the value of the 10,000 bitcoins paid for the two pizza pieces exceeded $318,800,000.
Satoshi ID
In 2016 Australian businessman Craig Wright announced that he was Satoshi Nakamoto providing technical evidence of this but his evidence was easily debunked.
Design
Account Unit The trading symbol used to represent Bitcoin is BTC and XTC and the Unicode code used is ₿. Alternative units for small amounts of Bitcoin are MelieBitcoin with a symbol (mBTC) and Satoshi with a symbol (sat). The SAT unit was named in honor of the coin's creator, Satoshi, which is the smallest value in the Bitcoin system and like 1⁄1 billion Bitcoin, i.e. 100 million Bitcoins. A millimeter of Bitcoin is equal to 1⁄1000 Bitcoin; one on a thousand of Bitcoin or 100,000 Satoshi.
Blockchain
Main article: Blockchain
Blockchain definition: The largest distributed and open global digital record, which allows the transfer of the asset of ownership from one party to another at the same time, without the need for an intermediary, while achieving a high degree of security for the conversion process in the face of fraud or manipulation attempts, and is shared by all individuals around the world.
To ensure that transfers are correct, the Bitcoin system maintains an account record in which all actions performed on the network are recorded, called a blockchain. All nodes on the Bitcoin network share this record via a system based on the Bitkin protocol. The blockchain contains all the actions done using Bitcoin, which makes it possible to know the balance that each address on this network has. This concept is called the chain description of the interconnection between blocks, where each block contains the hash of the block that precedes it and it continues until the first block, called the "genesis block" (English: genesis block). Configuring a string in this way makes it extremely difficult to change any block after a certain period of time has elapsed since it was created, as changing any block requires changing all the blocks that follow it because of the need to recalculate the hash of each block to update the value of the hash of the previous block in it. This characteristic is what makes the problem of frequent spending of the same currencies so difficult for Bitkin, and even the blockchain can be considered the backbone without which Bitkin can not stand.
Blinding
Bitcoin is considered a cryptocurrency (English: cryptocurrency) and this means that it is based mainly on the principles of cryptography in all its aspects, and it is also considered the first currency of its kind and the most famous and widespread but nevertheless it is not the only cryptocurrency that currently exists on the Internet. There are more than 60 different cryptocurrencies, of which 6 can be described as the main ones, depending on the number of users and the structure of each network, All existing cryptocurrencies are based on the principle of operation of Bitcoin itself except Ripple, and since Bitcoin is open source it is possible to clone it, make some modifications to it and then launch a new currency.
Decentralization
Bitcoin is an anonymous digital currency, as the transfer through it only requires knowing the wallet number of the person to whom it is transferred and the transfer process is stored in the blockchain with a special serial number and this does not include the name of the sender or receiver or any other data of their own, making it a popular idea for both privacy advocates, or sellers of illicit goods (such as drugs) online alike.
Bitcoin is based on financial transactions and uses the peer-to-peer network, electronic signature and encryption between two people directly without an intermediary body regulating these transactions, where money goes from one user account to another instantaneously, without any transfer fees (except for network fees paid to miners) and without passing through any banks or any intermediaries of any kind.
The currency is available globally and you don't need complex requirements or things to use. When the currency is acquired it is stored in an electronic wallet. It is possible to use this currency for many things, including buying books, gifts or things that are available to buy through the Internet and converting them to other
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