What is Bitcoin?

As you can see bitcoin is a form of digital currency that no one can control it. It is not printable like dollar
euros or pounds, it is also produced by people using softwares that solves mathematical problems.

It can be used to buy things online in that sense it`s like conventional dollars euros which are also traded
digitally.

Most important characteristic

Its most important characteristic which is different from other currencies is the fact that is descentralized
which means that no single institution controls the bitcoin network. This is a releafe for some people
because that means that no bank can`t control their money.

Who created it?

Was created by a software developer his name is written on my presentation because I am not sure I am
going to pronounce it right. He proposed bitcoin as a electronic payment based on a mathematical proof.
The idea was to produse a currency independent of any central authority that is transferable electronically,
is more or less instantly and has very low transaction fees.

Here we have some characteristics that are also advantages of the bitcoin

1 easy to set up which means that you can set up a bitcoin address in seconds, no questions asked and
with no fees payable.

2. it is anonymous that if you want to. Users can hold multiple bitcoin addresses and tthey are not linked
to names or other personal information

3.It is completely transparent

4. Transaction fees are miniscule. Your bank can charge you a 10 pound fee for international transfers but
the bitcoin wont

5. It is fast you can send money anywhere and it will arrive minutes later.

6. It is non repudiable which means that if the bitcoins are sent there is no getting them back.

Some disadvantages

1. is not widely accepted

2. wallets can be lost if a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted,
Bitcoins have essentially been “lost”. There is nothing that can done to recover it

4. no buyer protection When goods are bought using Bitcoins, and the seller doesn’t send the promised
goods, nothing can be done to reverse the transaction