What is a Bitcoin?


Bitcoin is a worldwide cryptocurrency and digital payment system called the first
decentralized digital currency, since the system works without a central repository
or single administrator. It was invented by an unknown programmer, or a group of
programmers, under the name Satoshi Nakamoto and released as open-source software
in 2009 The system is peer-to-peer, and transactions take place between users directly
without an intermediary. These transactions are verified by network nodes and recorded
in a public distributed ledger called a blockchain.

Besides being created as a reward for mining, bitcoin can be exchanged for other currencies
products, and services. As of February 2015, over 100,000 merchants and vendors accepted
bitcoin as payment. Bitcoin can also be held as an investment. According to research
produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users
using a cryptocurrency wallet, most of them using bitcoin.

Bitcoin as a form of payment for products and services has seen growth, and merchants
have an incentive to accept the digital currency because fees are lower than the 2-3%
typically imposed by credit card processors.The European Banking Authority has warned
that bitcoin lacks consumer protections.Unlike credit cards, any fees are paid by the
purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible.
Commercial use of bitcoin is currently small compared to its use by speculators, which
has fueled price volatility. A Faucet gaves people free bitcoin. You can win bitcoin
at a bitcoin faucet by solving things. To get free bitcoins or win free bitcoins you
also can referrel with a multiplier of 0,2 to get free Satoshis for just placing a link.

More Information on Bitcoin Wikipedia article