Finance

Bitcoins are the units of value of the network

Bitcoin wallets

Bitcoins, with a small “b”, are the units of value generated by the protocol for minors. Their particularity is to be the first rare digital asset, which can not be duplicated. These are the digital assets we are talking about when we talk about buying bitcoins. The major obstacle that stood before the creation of digital currency without central authority is thus lifted.

Bitcoin gives real control to the user

Bitcoins are secured by cryptographic keys generated by Bitcoin wallets. In addition to managing these keys, these programs allow the reception and sending of bitcoins by their owners. It’s important to understand how Bitcoin portfolios work, and what portfolio is best for your profile.

Apart from the owner of the keys, no one has the option to block an account, initiate a transaction, or limit the number of people. We are here faced with a new form of digital property.

Bitcoin is rare, but highly divisible

21 million units for 7 billion people may seem insufficient if Bitcoin wants to establish itself as a means of exchange used by all in everyday life, but it is a false problem. Bitcoin units are currently divisible up to eight digits after the decimal point, and it is possible to go even further if necessary.

In honor of its creator, the smallest unit of the system is called satoshi. A bitcoin is therefore equal to 100,000,000 of satoshis.

Unlike a currency controlled by a central bank that can determine an interest rate, the price of Bitcoin is fixed, as for commodities or precious metals, only by supply and demand. There are exchange platforms on which a large number of transactions are made each day, to set a course.