Bitcoin made its first appearance in 2009 and immediately begun a new disruptive revolution with an era of cryptocurrency. Today, there are more than 700 different digital currencies, but bitcoin still remains the leader in the industry. While tax authorities, enforcement agencies, and regulators in different countries are still trying to cope with this recent phenomenon, one question arises — is bitcoin legal? In this article we will try to answer this question.
Literally a few years ago bitcoin was considered to be a renegade virtual currency, which many thought was used only by criminals and criminals. Like the Internet at the beginning of its existence, investors and businesses did not see the value of technology and were overlooked by its dark associations. Today, Bitcoin and its inherent technology, the block circuit, are at the top of new Fintech businesses, and a new wave of startups is jumping out with new and innovative concepts for its application.
Bitcoin is an emerging digital currency. Recently bitcoin was in its infancy, and now it seems that it is becoming a more mature currency. The popularity of this virtual currency is constantly growing and every day we see more and more people joining this innovative industry. Bitcoin will certainly shake and destroy traditional economic and financial foundations and turn them into a more equal and democratic model.
The Bitcoin ecosystem is also increasing its agility, and more and more business segments are accepting this new currency every day. Evangelists of the movement are trying hard to introduce Bitcoin into everyday life – to turn it into a currency, not an asset or a financial instrument, and make the most of its unique functionality.
Functioning of the bitcoin market is similar to functioning of the market of some goods (coffee, gold, etc.), which is brewed/produced and sold on the markets, its price fluctuates depending on supply and demand.
Where do you trade bitcoin?
It is easier for us, not the miners, to get Bitcoin now than it was a year ago. All you have to do now is to be in the right country to buy and sell Bitcoins, where exchanges legally act as intermediaries for currency trading – something that also protects your funds from mismanagement and from external and internal attacks. These exchanges instantly convert your Bitcoin into USD or another currency, and based on the price fluctuations between these two currencies, you can simultaneously sell and buy their assets and make good profits – a process we know as arbitrage.
Наиболее часто используемый жаргон в индустрии биткойн – “Майнинг биткойн” – относится к концепции централизованной обработки, на которой базируется инфраструктура биткойн. Легко думать об этом, как о простой форме копания в интернете, чтобы найти биткойны, но на самом деле, это немного сложнее и имеет более широкие последствия, чем простое накопление богатства.
There are many advantages of using bitcoin over traditional currency. Here is a brief information about advantages of using bitcoin for transactions for goods and services.
People can use Bitcoin to make payments to other people or businesses. It is easy to use and very secure, with low transaction fees, and you can spend it directly from your computer, tablet or smartphone – ideal for online business transactions such as online casinos or investment funds.
В течение ещё пятнадцати лет после того, как это было написано, Bitcoin не был осуществлен, но было несколько ранних попыток анонимной системы цифровых транзакций. Одна из первых попыток была предпринята американским учёным-компьютерщиком и криптографом Дэвидом Чаумом. В 1990 году он основал DigiCash, криптографическую систему электронных платежей, которая использовала “слепые подписи”, чтобы позволить пользователям подписывать сделки в цифровом виде, не раскрывая их личности. Падение системы было централизацией, так как она размещалась в собственной компании Чаума, которая отвечала за проверку подлинности каждой подписи. В конце концов, это привело к банкротству в 1998 году.
Bitcoin is an effective solution when it comes to sending or donating online. Donations can be seen by the general public, which helps find a better financial solution and greater transparency for non-profit organizations. Also in emergency situations, such as natural disasters, donations to Bitcoin arrive faster to those who need them, thus reducing international response time and being extremely effective as a smooth way to transfer values. Although there are still very few initiatives, we are already seeing the first crowdfunding projects related to Bitcoin appear more frequently.
Team PRIVAT.CASH wishes you a Happy New Year!
It has been an interesting and eventful year, both for our service and the cryptovoltaic market in general.
We are grateful to everyone and everyone who spent this year with us!
Congratulations on the coming year 2020!