Bitcoin an open source peer -to-peer technology digital money

Hi friends , Bitcoin is a new and easy payment system and we can say a complete digital money.Another thing is that bicoin is a open-source so anyone has access to the entire source code at any time.Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.Bitcoin has not been made illegal by legislation in most jurisdictions.Bitcoin was initially started  with the "crypto-currency".Wei Dai in the year 1998 suggested cryptography concept and in the year 2009, Satoshi Nakamoto published the first Bitcoin specification and proof of concept.Bitcoin is controlled by all Bitcoin users around the world and developers are improving the software.

 

bitcoin

Mission of bitcoin

  • Inform users to protect them from common mistakes.
  • Give an accurate description of Bitcoin properties, potential uses and limitations.
  • Display transparent alerts and events regarding the Bitcoin network.
  • Invite talented humans to help with Bitcoin development at many levels.
  • Provide visibility to the large scale Bitcoin ecosystem.
  • Improve Bitcoin worldwide accessibility with internationalization.
  • Remain a neutral informative resource about Bitcoin.

At the end of August 2013, the value of all bitcoins exceeded US$ 1.5 billion with millions of dollars worth of bitcoins exchanged daily.


How to acquire bitcoins?

  • As payment for goods or services.
  • Purchase bitcoins at a Bitcoin exchange.
  • Exchange bitcoins with someone near you.
  • Earn bitcoins through competitive mining.

Advantages of Bitcoin

  • Payment freedom
  • Very low fees
  • Fewer risks for merchants
  • Security and control
  • Transparent and neutral.

I am surprised to see they have also given about disadvantages of bitcoins

 

Disadvantages of Bitcoin

 

  • Many people are still unaware of Bitcoin
  • The total value of bitcoins in circulation and the number of businesses using Bitcoin are very small
  • Bitcoin software is still in beta with many incomplete features

If you find a vulnerability related to Bitcoin and want to help bitcoin email to the developers which was given below,

 

  • Satoshi Nakamoto – PGP
  • Gavin Andresen - gavinandresen@gmail.com
  • Pieter Wuille - pieter.wuille@gmail.com
  • Nils Schneider - nils.schneider@gmail.com
  • Jeff Garzik - jgarzik@bitpay.com
  • Wladimir J. van der Laan - laanwj@gmail.com
  • Gregory Maxwell - greg@xiph.org




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      Hi. I am interested in blogging.And sometimes play with webdesign,web development,domain sale,designing logo and more.

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