What Is Bitcoin ?

"Bitcoin" is a decentralized means of tracking and assigning wealth or economic value. Bitcoin is a software protocol, computer network, idea, community, movement, etc. BitCoin -The virtual currency of the internet and one of the most searched words on the internet. Bitcoin is a form of Digital Currency, created and held electronically. No one controls it. Bitcoins are not printed, like Dollars or Rupees they are produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

What are Bitcoin really?

Specifically, Bitcoin it is not only a cryptocurrency, Bitcoin it's a new economical method, a new method for buy and sell with a currency that have a strong chances to increase their value in the next years. Bitcoin is the first most popular digital crypto-currency. Bitcoin, it's not managed by a official government or central banks (Government Regulation) that regulates the prices of coin, but his value depend is largely depended on the demand and supply, and of course the Market Manipulation can influence the Bitcoin price.

Bitcoin, whose price topped US$2,000 per coin for the first time in May, has arguably entered the mainstream. You can actually use it to buy stuff now, at retailers such as Microsoft, OkCupid and even Subway.

How Does bitcoin work?

Bitcoin in simple words digital currency. Which is limited in supply. It is neither legal nor illegal in India. There is no one behind it people are behind it. 21 million coins. Owned by people. Blockchain is a public platform. It's decentralized. Noone can control the supply. Since it is limited in number. If demand is more than supply obviously the price do shoot up. This is the thing happening with bitcoin

Bitcoin paved the way for the inception of the world of cryptocurrency, and it remains firm at the top of the list. It is the highest valued cryptocurrency, surpassing the rest by a wide margin. It operates on a peer-to-peer system, facilitating direct transactions. The transactions are verified by network nodes, and they are recorded in a public distribution ledger called the blockchain.

What is the best cryptocurrency to invest in, long term? Why?

There are already almost half as many transactions on the Ethereum blockchain as the Bitcoin blockchain, and Ethereum is growing exponentially, while Bitcoin has reached its maximum capacity for now. Cryptocurrencies, like social networks, have extremely strong network effects. As the adoption of Ethereum continues to grow, its utility and value will grow exponentially.

A you can see from chart above, Bitcoin was experiencing rapid growth until the beginning of 2017. The following chart of the Bitcoin mempool will explain why the growth has flatlinued.