Bitcoin Price Today (BTC-USD)

What is Bitcoin?

Bitcoin is a decentralized digital currency that was invented in 2008 by unknown person or a group of people using pseudonym Satoshi Nakamoto. From 2009 Bitcoin began gaining followers among IT-enthusiasts as it was released as an open-source software.

Bitcoins are created using mining. Mining is a process of computing, the end result of which is 1 Bitcoin. Mining can be performed on a powerful computer. There will be only 21 million bitcoins. Most of them (around 90%) are already created. It will take more than 100 years to mine all bitcoins because each new bitcoin takes more time and computational power to be mined.

Criticism of Bitcoin

Bitcoin got a lot fans. Nevertheless, there is strong critisim around the world of Bitcoin and other cryptocurrencies. Most popular arguments include critics of the use of Bitcoin by criminal world, inadequate price rise and limited use as a payment method. In the last years Bitcoin became more popular as a payment medium but transactions are processed very slowly, with big comissions. Volatile price of Bitcoin also exacerbates its use as a payment method.