Many people when the introduction to what Bit coin is, I told you about the advantages, how to buy bit coins I told you where and how to buy them, now I will explain the inner workings of it.

To  give a very simple and easy to understand example. Imagine Bit coin as a large fish tank where, from the outside, you can move the one inside if you have the necessary keys to move them, but nobody will ever be able to enter or take anything out of the fish tank, so the total amount of bit coins in this fish tank will be unalterable, but if the possession of the bit coins. Unlike the Dollar and the Euro, which have an unlimited issue?

The Bit coin Network is based on a ” peer to peer” system or user to user that has allowed to break with a problem in all the previous means of payment, the need for a third party. Before the invention of Bit coin, when I wanted to make an online payment, they had to resort to platforms such as Paypal, Neteller, Banks, etc. to make the payments.

Operation of mining for dummies

In the previous point, I have explained it using some concept  1 btc to usd  that may not be understood by everyone. Therefore, I am going to launch another more tangible explanation about the operation of mining.

The miners are computers that are responsible for confirming the transfers of bitcoins that are made between users. In addition, mining allows the creation of new bitcoins, since as the transactions are confirmed by the miners, the system automatically awards the miners with newly created bitcoins. These prizes are reduced as time passes since the maximum amount of bitcoins will be 21,000,000. From that moment, the benefits of the miners will surely be obtained from small tips that users give to validate their transactions. they hear about this crypto currency have to

Yours

Your bit coins are only yours. The money belongs to you 100%; it can not be intervened by anyone, there are no corallites or accounts can be frozen