Bitcoin currency and the story of its rapid rise

Bitcoin has fallen sharply over the past few months at a rapid pace after hitting a record high in a short period of more than $ 19,000. What is the story of this virtual currency ?.

Bitcoin is a digital coin (virtual) launched in 2009 by a mysterious person named Satoshi Nakamoto. It is not a traditional currency because it is not issued by a central bank, a State or a body organized and supported by it.



The currency of Bitcoin was created through a complex computer process and then monitored by a computer network around the world.

About 3,600 new home-brewers are being exported daily around the world. The total volume traded is 16.5 million units per day, within the maximum permitted amount of 21 million units.

For this process, the user must purchase and process transactions through digital exchanges such as San Francisco-based San Francisco. Instead of recognizing the central authority of the remittance process, they are all registered in a public budget called blockchain.

A virtual world

Bitcoin are not on the ground but digital keys are recorded in a digital portfolio that can manage conversions. If a portfolio is used online, users should trust its source because hackers target servers to steal Bitcoin .

It is advantageous low fees, because the currency has not passed but the currency code is that comes out of the portfolio and enter into another portfolio.

Customers can pay using a smart phone and QR application to read codes, and Old Fitzroy is the first pub in Australia to accept the currency of the Betquin.

The first ATM was set up in Vancouver, British Columbia, Canada in 2013, and allows users to buy or sell digital currency.

Sales and purchases can not be tracked because they do not have a related serial number, which enhances privacy. One of its drawbacks is that it is used as an unknown means to carry out large transboundary transfers, so it has been linked to drug trafficking and money laundering and is used on the Silk Road, a platform for the sale of illegal drugs.

The total nominal value of all the world's Bitquin now exceeds $ 167 billion.

Planned

The British Capital Market Authority warned investors in September that they could lose all their money if they bought electronic currency.

But the US Capital Market Authority (CMA) has allowed two of the traditional securities firms, the CME group and the CPO Global Market, to begin completing their contracts in the currency.

The Commodity Futures Trading Commission (CFTC) said it would allow investors to buy and sell Futures contracts in the currency of PeteQueen.

Carl Schmotta, director of market strategies at Cambridge Global Investments, said the move was the reason for the recent rise in the currency. "The common perception among people around the world is that CME and COOE give the legitimacy of the currency of Betcuen, which is the real reason behind this big upsurge."

Leonard Weiss, president of the Hong Kong-based Betcuen Society, says the currency's rise is "often due to greed and fear of losing the opportunity."