— Mago do Mercado is pleased to announce the publication of a detailed website article with the title of “What is Bitcoin?” The Market Wizard has previously provided explanations of several investment tools that amateurs can use, as well as by more experienced traders and investors in the various financial markets. Bitcoin’s rise to prominence has been rapid, and there are experts on both sides of the question of whether or not it is a safe trading tool or investment risk for the average investor.
The article briefly discusses the early history of bitcoin and how blockchain transactions are a key part of the currency's benefits. The currency doesn't depend on a middleman's activities, such as a bank, but rather is a new online payment system with its digital currency. The original algorithm includes a sophisticated method of verification and authentication of each transaction, so the third party intermediary is rendered unnecessary.
Since 2008, when the bitcoin was first introduced at a stated value of .1 cent until its rate at USD22,741 in late December, 2020, the currency has created a lot of interest from curious people, investors, and speculators.. To understand how bitcoin works, it is essential to know how the payment network behind bitcoin works. It supports all bitcoin transactions which are carried out. The network is based on blockchain technology and allows the payment system to be secure and completely independent of any intermediary. This is because it is the network of bitcoin users, collectively considered, that validates the transactions between any two members at any given time.
Blockchain technology allows the maintenance of a single transaction record, in a secure and encrypted way, which is shared by all members of the system, and which can only be changed when most members, through their computer (a node in the blockchain), validate the transaction. Any attempt to attack the system cannot be accomplished with the invasion of a single server or a set of few servers, but it must be done by the simultaneous invasion of all the machines that make up the chain.
The article defines some of the major complaints about the currency, including those of financial wizard Warren Buffet. On the positive side, bitcoin meets the three required characteristics to be a widely used currency: Scale, Space, and Time. The conclusion drawn in the article is that Bitcoin has a high chance of becoming the money of the future.
Mago do Mercado has published a descriptive article on the subject of Bitcoin. The author has extensive experience in the market as an investor and as a researcher. Additional information about the company can be seen at https://magodomercado.com/o-que-e-bitcoin/.
Release ID: 88992671