What is Bitcoin?

What is Bitcoin?

Bitcoin as a new kind of digital money has been doing a lot, in fundamentally changing the basic concepts of transferring money.  Critics have been forever stating that Bitcoin will be disastrously broken and that it is heading towards an inevitable and dramatic collapse.

However, Bitcoin has already done a lot in fundamentally changing the way cross-border payments can be made without political or geographical hurdles from middlemen and regulatory bodies from across the world.  Needless, to say Bitcoin cuts costs by cutting middlemen.

For over a decade the world has been debating on whether your Bitcoins are secure, how they are different, will they be regulated, what the future has to hold for Bitcoin and lot more.

Despite the high volatility, optimist and pessimist opinion about the currency, the Bitcoin network continues to be on the top in the list in the world of cryptocurrencies. Very soon, you will integrate the ideas of Bitcoin into your own projects.

While there are a lot of failed attempts, there are several hundred success stories of payment using cryptographic payment systems which are already a grand success. And, the most exciting thing that regulators are trying to crack down on, is that you do not reveal your identity to pay with Bitcoin. The idea of identity anonymity and the immutability of the ledger is what Bitcoin users most love about it.