Cryptocurrency A cryptocurrency is a digital medium of exchange first began operating cryptocurrency that was Bitcoin and since then there have been many others, with different characteristic and protocols as it can be litecoin, Ripple, dogecoin or GCRcoin. The term refers to the crypto crypto system used to create, store and transfer digital currency. In his nearly seven years of existence, the criptomonedas have gradually gaining the attention of the general public and the media.
What is Bitcoin? Bitcoin is a consensual network that allows a new payment system and a fully digital currency. It is the first peer decentralized network driven by its users pay no central authority or intermediaries.
What are the disadvantages? The total value of bitcoins in circulation and the number of businesses using Bitcoin are very small compared to what can be. Therefore, relatively small events, trade or business activities significantly affect the price. Bitcoin software is still in beta with many incomplete features in development. Guarantee of acceptance: although there is growing establishments that accept them are still a minority.
Bitcoin is legal? As far as we know, Bitcoin has not been made illegal by law in most territories. However, some territories restrict or prohibit foreign currencies severely.
How bitcoins created? Bitcoins are generated by a competitive and decentralized process called "mining". Bitcoin mining process transactions and ensure network using specialized hardware and collect bitcoins in exchange for this service. The new bitcoins are created with a slower pace fijado.Cuanto miners accessing the network, increases the difficulty in obtaining benefits and miners should seek greater efficiency to reduce costs operativos.Los bitcoins are created predictable and decreasing speed.
What determines the price of bitcoin? The price of bitcoin is determined by supply and demand. When demand for bitcoin increases, the price goes up, and when demand falls, the price falls.