INTRODUCTION

Bit coin is online payment system or currency. Like real currency but this are use online and never any coin or note for bit coin it just like logical currency which is use online on internet and other computer machine. Most of people do not know about bit coin but whose people have internet and computer those people know bit coin and its uses and advantages and disadvantages so today I am telling all about bit coin.

For my friend i am find some video who related to whats is bitcoin?,

 

INVENTION OF BITCOIN.

Bit coin invents by Satoshi Nakamoto at 2008 and publicly release on 2009 it is a peer to peer service. User can send and receive bit coin by directly and transaction are verified by network of bit coin like node and the recorded all transaction in Block chain. Every user have own account where the user can send and receive bit coin and also exchange the bit coin to another currency like $, Rs, and others. Bit coin is also a first crypto currency or a digital currency. Bit coin is a one of its kind of currency but same like bit coin a billion of currency but all are not real 99% currency are fake only 1% currency are real. And bit coin is in 1%. There was many advantage and disadvantage of bit coin so I am telling you some common advantage and disadvantages of bit coin.

 

 

ADVANTAGES OF BITCOIN.

1. It is fast, quick and easy.
2. Send money in just second all around the world.
3. Never any kind of high % of fees.
4. Its free service and the account of bit coin are also free.
5. You can receive money from worldwide.
6. Your payment transaction records in Block chain.
7. No charge back risk, once bit coin send then never reverse is possible
8. Anyone can anytime verify the transaction on Block chain.
9. No need personal information for sending and receiving bit coin.
10. If bit coin rate are high then your money can also rising means for ex you have 1 BTC at a time BTC rate is 300$ and after 24 hour the bit coin rate is high then your 1 BTC convert to 310$ so you have benefit of 10$ free.

DISADVANTAGES OF BITCOIN

1. Bit coin is known all around the world but still very small group of people are accepting
   bit coin.
2. In block chain if you lost your id then you can also lose your all bit coin on your wallet.
3. Tree was no buyer protection.
4. Never any one person or one group are owner of bit coin so there was never any violation term and services.
5. Bit coin not a physical currency when you can want buy some think from your market then you need to exchange the bit coin to another physical currency.

PRICE HISTIRY OF BITCOIN VS USD

Bit coin value is not high from begging. First bit coin value is $1 = 1,309.03 BTC. You can imagine that today the BTC rate is 250$ for 1 BTC and the first BTC rate is 1$=1309.03. Now I am tell you the all time rate of BTC vs. USD.

 

Date                                                   BTC                                                  USD
2009 October 5                               1,309.03 BTC                                         $1
2010 May 22                                   10,000 BTC                                            $25$
2010 June                                       1 BTC                                                     $0.008
2010 July                                         1 BTC                                                     $0.08
Feb 2011                                         1 BTC                                                     $1
July 2011                                         1 BTC                                                     $31
Dec 2011                                         1 BTC                                                     $2
Dec 2012                                         1 BTC                                                     $13
April 2013                                        1 BTC                                                     $266
May 2013                                         1 BTC                                                     $130
June 2013                                        1 BTC                                                     $100
October 2013                                   1 BTC                                                     $200
Nov 2013                                          1 BTC                                                     $1000
Dec 2013                                          1 BTC                                                     $750
Feb 2014                                          1 BTC                                                     $550
Mar 2014                                          1 BTC                                                     $450
Apr 2014                                          1 BTC                                                     $340 
Jun 2014                                          1 BTC                                                     $638
Aug 2014                                         1 BTC                                                     $475
Oct 2014                                          1 BTC                                                     $335
Dec 2014                                         1 BTC                                                     $316
Jan 2015                                          1 BTC                                                    $253
Feb 2015                                         1 BTC                                                    $248
Mar 2015                                         1 BTC                                                    $241
Apr 2015                                         1 BTC                                                    $237
May 2015                                        1 BTC                                                    $238

You are see above history that the bit coin value in starting is null but slow the rise to 1$ and on 2013 in one month there rate is rising 300$ 400$ to break the 1000$ and now the bit coin rate are only something 250$.

watch this video about bitcoin vs usd rate..

 

 

Below i am show you some chart of BITCOIN and USD rates.

 

 

FUTURE OF BITCOIN.

In my opinion the bit coin future is very bright and I think the all world of internet are accept
bit coin and all online shopping site such as Amazon, snap deal , kaymio, daraz and others are also accepting the bit coin in future and all country government are also allow to accepting the bit coin.

And in the making of future the Bitlanders are play their role very well I think bitlander is a world largest website that pay their user bit coin and also exchange them to PayPal $ and also the world largest website who give the option of charity through bit coin.

Ok today article is end after some day I am writes another article about bit coin or digital currency.

Thanks
Regard
Sahibzada Rizwan.