Mar 21, 2018 - 10:59:26 AM UTC
Value and price movement of BTC is different in USD and BTC markets.
Price has moved 6.84% (USD) or 0.00% (BTC) in the last 24h.
Market Cap Rank: 1. of 1000+
Bitcoin trading volume was 6,345,580,000 USD in the last 24h with circulating supply of 16,931,462 BTC.
Bitcoin (BTC) Price graph
Bitcoin (BTC) price in fiat
About Bitcoin (BTC)
Bitcoin is the most accepted digital currency (also called crypto-currency).
It uses peer-to-peer technology to operate with no central authority or bank (managing transactions and the issuing of bitcoins is carried out collectively by the network). The Bitcoin network is designed to mathematically generate only 21 million Bitcoins, so there will never be more than that.
Bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the blockchain. The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater. Blockchain solves two of the most challenging problems of digital transactions: controlling the information and avoiding duplication.
When a purchase is carried out, the ledger records it and sends it out to the entire network. Computers all over the world then compete to confirm the operation by solving complex math equations. The first to figure out the answer and validate the block receives a reward in Bitcoins – this process is called mining.
Every machine that mines bitcoin and processes transactions makes up a part of the network, and the machines work together. That means that, in theory, one central authority can’t tinker with monetary policy and cause a meltdown – or simply decide to take people’s bitcoins away from them, as the Central European Bank decided to do in Cyprus in early 2013. And if some part of the network goes offline for some reason, the money keeps on flowing.
Bitcoins can be traded for goods or services all over the world and is a great way of trasfering money world wide.
Bitcoin also created a gambling revolution by adding transparency to bitcoin online casinos with a technology caled Provably Fair. The key to the Provably Fair system is that it uses a cryptographic hash which is considered unbreakable for practical purposes. This ensures that the information sent to the player and casino is unknown and can be deciphered
The legality of Bitcoin depends on where you’re located. Bitcoin was legalized as a formal method of payment in Japan this year, and India might be next. In most countries, however, it somewhat operates in a gray zone, with no official ban or approval of Bitcoin.