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Long way from 0.01 to 11,000 USD of bitcoin

Reality reviews bitcoin constantly rising in recent times, then even those who fully believe in the bright future of the bitcoin also said that the future currency of the bitcoin movements are powerful and madness.

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In 2010, the starting price of the Bitcoin is 0.01 USD, i.e. less than 1 cents rather than say 1 USD. Meanwhile on the past 29/11 price was officially crossed the 11,000 milestone bitcoin USD, the highest of all time. Once considered the "Oasis" of the guys fall programming with peculiar ideas. If the mention of bitcoin, people think followers of liberalism and the smuggler, now bitcoin has received hundreds of millions of DOLLARS from the Fund speculation, is the hottest topic on world financial markets.
With the momentum of fast growth, strong, no one can know in advance is bitcoin is a giant balloon or acknowledgment of the financial world belatedly about the special coins. However, at present no one ignored bitcoin. So what is bitcoin and copied its price again increased sharply to as such?
1. Exactly what is bitcoin?
Bitcoin is a form of virtual money that you can't be in it in her hand, bitcoin was real stores accept, was not released or backed by the Government as the other coins.
The core of the bitcoin or similar virtual currencies is the set of protocols that produces the code number and track transactions that are difficult to counterfeit or can use the token. 1 bitcoin has value only when the user agrees that no value.
2. Bitcoin stem from?
The information about the bitcoin was first published in 2008 by 1 person or group who uses the pen name is Satoshi Nakamoto. Satoshi Nakamoto so far remains a mystery yet to be solved.
Today, long titles online have use of virtual money, but especially in the bitcoin idea behind it. That is the idea of the blockchain, 1 ledger online was widely recorded transactions bitcoin.
3. Active Blockchain?
Think about what will happen when you trip money online transactions through a bank. When the Bank confirm you have the money and you want to transfer the amount minus the amount will be transferred from this account to another account. You can see the results if the login to your account, however, this transaction is controlled by the Bank.
Meanwhile, Blockchain is the database can perform this monitoring function when you transfer money to the bank or any centralized authority.
4. Who performs the functions of the Bank of the bitcoin?
1 network of Africa focus will make the banking functions of bitcoin. Accordingly, the transaction bitcoin can be made through the website provided for electronic will continuously upload data onto the system. The new Exchange will be pooled into 1 block (block) and transmit directly to the system to be confirmed by the "miner bitcoin".
5. Who is the miner bitcoin?
Anyone, as long as you have the computer really fast, strong and loved solving puzzles. The data in each block is encrypted by the formula can only be unlocked by "trial and error" on a giant scale.

Miners dig bitcoin computer array super powerful because they have to compete to become the first to decipher the password. When answering a miner was confirmed by others, the data series of data blocks and add miners bitcoin reward, copper was released.
6. How to prevent cheating?
Before each piece contains links to the data block, if you use a bitcoin, which means more repeats in the data, then the system will n GI "in the process of detection of cheating. Miners competition, every step must be verified.
7. Bitcoin is popular because once a drug dealer?
This is a correct judgment because the most striking is the anonymity of bitcoin. Until now, these sites from smuggling weapons to drugs mostly with bitcoin payment. Among them, the most famous is the black market size of $12 billion, the silk road was closed, it is illegal in 2013.
A Nobel prize economist Joseph Stiglitz recently let bitcoin, need to set up the "illegal", because it is designed to evade the law and without any useful social work".
8. What is changed, the emergence of bitcoin?
Since appearance, bitcoin's reputation has been much improved, partly because some large-scale theft has been greatly reduced. Typical as of 2014, a large number of bitcoins stolen floor Mt. GOx and shock, let bitcoin prices fall. At present, although is still a cause for concern, the security level of bitcoin is improved.
9. What is the blockchain attractive?
The blockchain supporters say this is a completely new method will help change the business across the board. Will reduce the cost, because there is no need for a centralized agency work, and then track the charge exchange. This is why the banks and the stock exchange has recently invested in strong blockchain technology. Several retail - like WAL-MART WAL-MART is also testing the use of blockchain, to ensure food safety. There are even rumors that the central bank to issue coins based on blockchain technology.
10. Why bitcoin rising power?
The suction of bitcoin, so many investors to open an account, which helps to increase the price of bitcoin from the beginning to 11. The two exchanges CME group and other new green lighting provides futures bitcoin, let money become more attractive, especially in the past 29 / 11 days, fell on the floor coinbase state can not visit, visits a sudden increase in the three - times, usually because of too many people to register a new account the average every week, the birth of the first fund focused on money, now the number has exceeded 100. Most of the investment at least part of the budget in bitcoin.
11. Is this a bubble?
Is the problem in the bitcoin bubble? Some of them, the most prominent is Morgan Chase CEO Jamie called Dimon - bitcoin "scam". However, the main bank in consideration of contract to provide customers with bitcoin's future. Mike fund management Novogratz called money bitcoin is the biggest bubble in the world ", but opened a $50 billion investment in the amount of money.
Bitcoin prices in the future, it is expected to double but is also considered to return to zero, who is the answer depends on who you ask.
12. How to buy or invest in bitcoin?
There are many different methods of bitcoin risk investment. You can buy directly from the exchange coinbase. For those investment experts, they will choose the investment fund tracking the price of bitcoin, bitcoin investment smoothly
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