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What is Bitcoin?

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The
network is peer-to-peer and transactions take place between users directly, without an intermediary.
Bitcoins have been existing since 2009, created by Satoshi Nakamoto. Currently, it’s not sure if this name is really the author’s name. Bitcoin’s price has been changing
throughout the years, constantly increasing, but, nowadays it’s decreasing, this last year, it reached its highest price, 19000 dollars approximately. Bitcoin’s price can change at
every time, even 10 minutes later, it could be reaching 100000 or 400 dollars. In this moment, the bitcoin value is of about 9000 dollars.
Have you ever thought of Bicoin or another cryptocurrency?
What do you think of this system?

The blockchain is a public ledger that records bitcoin transactions. The maintenance of the blockchain is performed by a network of communicating nodes running bitcoin
software also called miners. Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes. The
blockchain is a distributed database – to achieve independent verification of the chain of ownership of any and every bitcoin amount, each network node stores its own copy of
the blockchain. Approximately once every 10 minutes, a new group of accepted transactions, a block, is created, added to the blockchain, and quickly published to all nodes.
This allows bitcoin software to determine when a particular bitcoin amount has been spent, which is necessary in order to prevent double-spending in an environment without
central oversight. The blockchain will not make you wait for transactions because they are solved in 10 minutes rather than the slow conventional ledger.
Have you ever heard of blockchain?
If you had the chance to buy cryptocurrencies, would you buy them?

Future of Bitcoin:
Bitcoin’s future is not very clear, but I personally think that in the future will take part in everyone’s life. I think that in 10 years’ time, the bitcoin system will be the most
common in the world, because of all its advantages. Probably in the future, bicoin will not exist, but an equal technology will. I think that the global economy will also be based
in this system or in blockchain, thanks to its security.
Do you share my opinion, that a system like bitcoin will dominate the future economy?
Have you ever heard about Bitcoin’s volatility?

Advantages and disadvantages:

Bitcoin has many advantages, like its system based blockchain, thanks to that we can do transactions in 10 minutes, like I said before. These transactions can’t be hacked,
because of the P2P system and all the registrations in different nodes. Another advantage is that nowadays, the bitcoin is very versatile, you can change your bitcoins to normal
cash in specialised machines in some cities.
The main disadvantage of the bitcoin is its volatility, like I have said before in 10 minutes the bitcoin system can crash and you can end up with no money, but this is also an
advantage, in 10 minutes the bicoin value can increase to 1M or 100000 dollars. Another disadvantage is the insecurity of wallets, bitcoin software based wallets are very easy
to hack, and an alternative is to have a hardware-based wallet, which secures your cryptocurrencies.
In your opinion, do you think that bitcoin’s price will grow?
Would you be in favour of changing all your money into cryptocurrencies like many people do?