Bitcoin is an electronic Decentralized (mean not a control any persone/Govt ) Currency Manage on a peer to peer (one persone to another persone not involve third party for transaction) Network. This Technology is called Blockchain Technology . It Belongs to an Electronic Class of currency this resone to called crytocurrency.
How can Hack bitcoin ?
No, One has been able to hack bitcoin because it can’t be hacked as there is no single point of failure. The bitcoin Hack mean the all of world user mining/running computer in one time hack so this resone to not a posible be hack. But any Exchange/Wallet is hackable for any bugs/week point.
What is Bitcoin mining ?
Bitcoin mining is the technique through which every transaction is validate and added to the public ledger. It is also the process by which new bitcoin are released. With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.
What happen to bitcoin sold out after 21 million are mined ?
This argument assumes that transaction fees alone will be insufficient to keep bitcoin miners financially solvent once the mining process has completed. The theoretical total number of bitcoins, slightly less than 21 million, should not be confused with the total spendable supply. The total spendable supply is always lower than the theoretical total supply, and is subject to accidental loss, willful destruction, and technical peculiarities.
How is Behind ?
Bitcoin is a crytocurrency based on specification outline by satoshi Nakamoto in 2009. Transaction are recored in a blockchain , Which Shows the entire transaction history for each unit and is used to prove ownership. Processing transaction required miner using computer to process blocks of transaction, Which are the core component of the blockchain.
On 18 August 2008, the domain name “bitcoin.org” was registered. In November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list. Nakamoto implemented the bitcoin software as open source code and released it in January 2009 on SourceForge. The identity of Nakamoto remains unknown.
In January 2009, the bitcoin network came into existence after Satoshi Nakamoto mined the first ever block on the chain, known as the genesis block.
The receiver of the first bitcoin transaction was cypherpunk Hal Finney, who created the first reusable proof-of-work system in 2004. Finney downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto. Other early cypherpunk supporters were Wei Dai, creator of bitcoin predecessor b-money, and Nick Szabo, creator of bitcoin predecessor bit gold.
How to determine Bitcoin Price ?
Buying a Bitcoin is not the same as buying a stock of bond. Bitcoin is Not a Corporation so there are no corporate balance sheets. It is also unlike investing in a traditional currency as it is not issued by central bank or backed by a goverment. The supply of Bitcoin and market demand for it. The number of competing crytocurrencies ,this exchange is is traded in & regulations governing its sale.