Bitcoin: a global currency?

Bitcoin is a digital currency set up in 2009 by a mysterious individual or group with the pseudonym Satoshi Nakamoto.

How is Bitcoin different from another currency?

  • It is a decentralized currency managed by peer-to-peer technology, without a central authority. All functions such as issuance, transaction processing and verification are carried out collectively by the network.

  • It is primarily digital

  • It has a maximum limit: after 21 million bitcoins are issued, no more will be created.

  • A risk of Bitcoin is that balances are not insured, so it is possible to lose all your Bitcoins due to hacking.

How does it work?

  • In short, each user has one or more “wallets”, where bitcoins are stored. Everytime one needs to complete a transaction, his or her account will generate an address that the user will be able to use to pay or be paid, just as an email address is used to send and receive messages. The only difference is that Bitcoin addresses can only be used once.

The Bitcoin... In the UK!

The Bitcoin… In the UK!

 

For those of you who haven’t heard about Bitcoin yet, this will probably be the future common way to proceed a payment or a money exchange in...Read More »


Another UK perspective

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Another UK perspective

In 2008, Nakamoto developed the first decentralized digital currency. Today, 100 000 venders sell Bitcoins around the world and 280 British firms accept these digital coins sent through internet from user to user without needing intermediary. This payment system claims to have lower fees...Read More »


Bitcoins in India

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Bitcoins in India

At present, there are no regulations governing virtual currencies like bitcoins in India. RBI, on December 24, 2013, issued a press release on virtual currencies like bitcoins, litecoins, bbqcoins, dogecoins stating that creation, trade...Read More »


In France...

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In France…

Bitcoin is a virtual universal currency accessible free of charge. This means of payment was developed in 2009 both in Asia and in the US, and can now be used on websites all around the world. This independent monetary system doesn’t...Read More »


Mexico and Bitcoin

Mexico and Bitcoins

At present, there are no regulations governing virtual currencies like bitcoins in India. RBI, on December 24, 2013, issued a press release on virtual currencies like bitcoins, litecoins, bbqcoins, dogecoins stating that creation, trade...Read More »


The status of Bitcoins in the US

The status of Bitcoins in the US

In 2007, the Japanese Satoshi Nakamoto started to work on a new project: Bitcoins. The goal of the project was to create an interactive currency that didn’t need regulation by a bank. Today, 1 BTC equals 221,5 $, but the Bitcoin’s...Read More »