What is Bitcoin anyway?

Bitcoin is a hot topic that discussed in recent years. There's a similar question in people's minds these days. A lot of people wants to know what bitcoin is and how can I buy bitcoin? Well, here we explain bitcoin in few sentences. We aim to express fundamentals of bitcoin and guide you in possible investment situation. 

First and the most important thing: Bitcoin (BTC) is an electronic currency that is not produced by "any central bank" or "institution".

It was introduced by Satoshi Nakamoto on January 3, 2009. Bitcoin aims to increase the speed of data transfer between end-users, making the transfer secure and cost-effective. Blockchain technology helps to transfer payments quickly in a linked network, in return, it gives bitcoin as a reward people who keep blockchain efficient. 

All transactions in a blockchain network are recorded in a notebook. All of these records (transactions) are contained within systems called blocks. These blocks carry some encrypted information called hash. These cyphers must be resolved, that is, they must be decrypted to move the hash value of the A block to the B block. The miners solve these passwords. They try to solve them as soon as possible using the power of their computers. As miners resolve these passwords, transfers can happen on the network. The miners receive the bitcoin award for their labour.

Every 10 minutes the entire system is refreshed, and new blocks are created by adding the recorded blocks together. The number of process acknowledgement mechanisms between two users increases the number of bitcoins generated. At the same time, bitcoin production becomes more difficult day by day.

Bitcoin is an electronic currency that can be bought and sold in many stock markets today and used in various economic transactions and reaching a transaction volume of 700 billion dollars by 2018.

Bitcoin's value is determined by the supply-demand balance, just as it is in stock or currency. The working principle of bitcoin, which will produce up to 21 million units, is simple:: demand increases as price increases, demand decreases as prices decrease.