Bitcoin – the currency of free people or an ingenious financial pyramid?

Bitcoin, although still quite a niche, seems to be the most popular alternative currency. He is honored by some websites and online stores, he can be exchanged at online exchange offices, and he has recently got the first para bank institution. In addition to great hopes, however, it raises considerable controversy – is the financial pyramid growing on the wave of interest in this currency?

The currency that is not there

So many articles have already been written about the digital currency that subsequent stories about how in 2009 the Japanese with the nickname Satoshi Nakamoto expressed his limited confidence in state authorities and developed bitcoin (btc to inr), they are pointless – you will find detailed information on this topic among others in this place. We also give ourselves a detailed description of exactly how subsequent bitcoins appear and join the pool that is already in circulation. From the tip of sight of a user who simply needs a convenient means of payment, it is as irrelevant as the technical description of the process. Let’s do what is important from the user’s point of view. Where to get bitcoins, what you can use them for, and why this currency can – though it does not have to – work on a similar principle to the financial pyramid?

Million bitcoins in circulation

The algorithm responsible for generating bitcoins has been devised in such a way that their number does not exceed 21 million. Considering the payment needs of the whole world, this may seem far from sufficient, but since bitcoin is divisible to eight decimal places, in practice, there should be no problem with a lack of currency.

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