Bitcoins

Bitcoins are a virtual way of paying kinda like paypal. Bitcoin. No one is controlling bitcoins. Bitcoins are not printed, like dollars or euros. They are made by people all around the world. The software of them solve mathematical problems. Bitcoin can be used to buy things electronically. It is just like dollars, euros, or yen, which are also traded digitally. Bitcoin’s really important characteristic, and the stuff that makes it different to money, is that it is decentralized. No institutional controls the bitcoins. This puts some people at ease, because it means that a large bank can’t control their money. A software inventor Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically. Nobody prints the bitcoins. Again it is digial so it cannot be printed. Bitcoins are a very simple way of paying I think.

            Interesting Fact:

1 Bitcoin is worth $343 US dollars

            Bitcoins rules is miners can only create 21 million bitcoins. That is pretty cool if I can say so myself. I really think this will become the only currency system in the whole world throughout the years.