Let's Diskuss
Asked 8 years ago

What is bitcoin and how does it work?

Science & Technology
0
2.1K
A
Abdul MalikAuthor

Hey, help the community by sharing your answer.

Earn up to 300 points for helpful answers.

Login to Answer

Bitcoin is a digital currency that works without any bank or central authority, it allows people to send and receive money directly over the internet using a system called blockchain, every transaction is recorded on a public ledger which makes it secure and transparent, new bitcoins are created through a process called mining where powerful computers solve complex problems, overall Bitcoin works as a decentralized form of money that people can use for online payments or investment.

M

Answered By MOHD ADEEB

Youth & Social Media Researcher
View Profile
Updated on05/21/26
0

in simple word

bitcoin is a currency which is only exist in digital form. you can buy sell think through bitcoin and also mine it through your phone , computer .

features

  • no involvement of government in it
  • free to mine but need good minning setup
  • no one see ur transactions .
  • u can buy any thing.
  • till now unhackeable.
G

Answered By gaurav nainwal

Author
View Profile

hello, I am gaurav I am a blogger, running a blog with affiliate marketing and I had also done a digital marketing course in which we had learned to write SEO friendly articles in English. I\'m always busy in grabbing new opportunities which helps me to improve my skills, knowledge and experience

Updated on05/21/26
0

Bitcoin has become talk of town nowadays. On one hand, the most high tech. country Japan gives them green signal and considers bitcoin as a legal tender while on the other, JP Morgan Chase CEO Jamie Dimon, CEO of JP Morgan Chase (an American multinational banking and financial services) calls it a fraud.

Bitcoinis a digital currency that uses rules of cryptography for regulation and generation of units of currency. They come under under the scope of cryptocurrency. It is a digital asset that is designed to work as a medium of exchange of goods and services through online to secure transactions, to control the creation of additional units, and to verify the transfer of assets.

Bitcoin was first invented by Satoshi Nakamoto in 2009 and since then its value has been soaring high and recently, it has plunged over 50 percent of its value. Bitcoins are completely virtual coins that are designed for those who need no bank to move and store their money.

A lot of websites and servers accept Bitcoin and one can use bitcoins to purchase goods and services online or they can save them and hope that their value increases over the years. Bitcoins are exchanged from one personal 'wallet' to another. A wallet is a small personal database that you can store either on your computer drive, on your smartphone or on your tablet.

Staying updated with the current Bitcoin price  is essential for anyone involved in the market, as it helps in making informed decisions about buying or selling this pioneering cryptocurrency.

Letsdiskuss

R

Answered By Ritwik Singh

Author
View Profile
Updated on05/21/26
Like
1

Bitcoin is a digital cryptocurrency that works without a central bank or government controlling it directly. Transactions are recorded on a technology called blockchain, which acts like a public digital ledger. People can buy, sell, or store Bitcoin through crypto exchanges and digital wallets.

One reason Bitcoin became popular is because it is decentralized and limited in supply. At the same time, it is also extremely volatile, which means prices can rise or crash very quickly. Some people see Bitcoin as the future of finance, while others think it is too risky and speculative. Honestly, crypto still remains a highly debated topic globally.

A

Answered By Aanya Sharma

Translating science and technology into stories that inform, challenge, and matter.
View Profile

Aanya Sharma is a science and technology writer with over 5 years of experience and 300+ published articles across leading digital platforms. She holds a Bachelor's degree in Science (Physics) from Delhi University, which grounds her writing in scientific literacy and gives her the ability to evaluate technical claims with accuracy. Her work has appeared on platforms including The Wire Science, Analytics India Magazine, and Digit.in, where she has covered artificial intelligence, space exploration, consumer technology, environmental science, and emerging tech policy. With a focus on accuracy and clarity, her writing makes complex scientific and technological developments accessible to readers without a technical background. Aanya has participated in science communication panels at events including the India Science Festival and has been recognised as a contributor to responsible tech journalism in India. She is an active member of the National Association of Science Writers (NASW) and maintains a public portfolio of her published work. Across all her work, her writing is grounded in verified sources and a commitment to editorial standards — delivering content that readers can rely on in a space where misinformation spreads easily.

Answered on05/13/26
0

Good explanation 👍
Bitcoin really is one of the most well-known examples of how cryptocurrency works — decentralized, peer-to-peer, and not controlled by any central bank.

What I find interesting is how differently people still see it: some treat it as a long-term store of value, others as a trading asset for short-term gains. In practice, I think a lot also depends on how easy it is to actually use and exchange it in real life and platforms make it simpler for users to convert and move between crypto and fiat without much friction.

Overall, it’s still an evolving space, and understanding the basics like wallets and blockchain is key before getting involved.

Olena Kovalenko

Answered By Olena Kovalenko

Author
View Profile

I am an educator passionate about helping students explore and understand the world around them. I enjoy integrating technology and creative problem-solving into lessons. I love connecting with fellow educators to share ideas and resources I’ve been using the coin24.io exchanger for several years to swap cryptocurrency - https://coin24.io/en/ - and everything has been great.

Updated on04/16/26
0
In the cryptocurrency field, binance is the famous name. binance give the best binance phone number support. coininfoexchange provide binance phone number
A

Answered By adam gill

Author
View Profile
Answered on02/03/20
0
  • Hosp has explained before why a potential cryptocurrency bubble could burst in 2018, but there are several factors that make him see upside potential in the space.
  • For bitcoin, the most important cryptocurrency by his estimation, he sees a 150 percent potential upside for 2018.
  • Taking into account several factors, the cryptocurrency market's upside potential could rise to up to seven or eight times present levels, he says.
P

Answered By Pawan1 Singh

Author
View Profile
Answered on02/23/18
0