What is Bitcoin:
Bitcoin is a digital currency and it is the world's first open-source cryptocurrency known as a digital currency. Bitcoin does not require a financial institution for the transaction because it is a customer-to-customer transaction i.e. a peer-to-peer transaction, and for this reason the details of the recipient and the sender of the transaction cannot be ascertained. It is not regulated by the government of any country and is not a currency issued by the government of any country. Bitcoin transactions can be made directly from the sender to the recipient's computer or online through a digital device. Bitcoin doesn't have any external drawings like we have paper coins. Bitcoin is usually managed through blockchain technology.
Bitcoin is created through mining which is done through powerful computers. Thus, a total of 210,000,000 bitcoins will be created by 2140 and no new bitcoins will be created.
Use of Bitcoin:
The current use of Bitcoin can be noticed in many cases. Bitcoin is also used for drug smuggling and money laundering, in addition to legal goods transactions.
Especially online gambling games take membership to various web sites
Moreover, the world's largest companies are making arrangements to pay through Bitcoin.
History of Bitcoin:
The currency was introduced in 2009 by an individual or group under the pseudonym Satoshi Nakamoto. Today, the popularity of Bitcoin is increasing day by day. Maybe in the future, the world's currency system will depend on cryptocurrency and this is what economists think. The current value of a bitcoin is about হাজার 60,000 and its value fluctuates.
The present developed countries have introduced ATM machines though it is still illegal in our country.
But it will be legalized in our country very soon.
Validity:
Bangladesh Bank declared Bitcoin transactions illegal in 2014 and according to them, transactions in these currencies are not approved by Bangladesh Bank or any other regulatory body as these currencies are not regulated by the government of any country and are not currency issued by any government. However, in line with the current world, Bangladesh will soon launch.