₿itcoin

 

Introduction

₿itcoin is a complete digital type of money and is owned by no one and no banks can stop or see bitcoin transaction. The idea came on social media in 2008 by a man named Satoshi Nakamoto.

This is a part of the document on social media in 2008.

 then the idea was put into action in 2009. On May 22, 2010, the first bitcoin transaction took place, A guy named Laszlo Hanyecz spent 10,000 bitcoins for 2 pizzas with was roughly worth 40$.

May 22 is called world bitcoin pizza day.

Later on, bitcoin started growing… A hundred$ to 1000$ to 10000$ and finally somewhere near the value 40,000$.

 

How do get ₿itcoins

We can get bitcoin from mining or trading or buying bitcoins, there are only a 21 million Bitcoins in the whole world. and 18.6 million bitcoin are mined already.

 

How do we mine ₿itcoin

There are several ways we can mine bitcoin.

1. we can join a mining pool
   i.e. a mining pool is a platform that many other miners are there and our device will compete with any other device to solve a hard math problem which ever laptop cracks the math problem first they mine some part of a bitcoin.
2. We can also mine bitcoin through a mining rig. Usually mining rigs are set up in a big factory like a building, there can be more than a million mining rigs, the electricity bills will cost  so much sometime the electricity bill can also be more than the whole city’s electrical bills. That is why, they put the mines in places where the government charges less electricity bills.

   
   This is a mining rig. A mining rigs have mostly about 6 GPUS(Graphics card), they have a mother board, fans to keep the rig cool, and other rescores that help the mining rig crack the problem first.

    
   This is a bitcoin mine.
   There are 5 bitcoin mines in the world.
   Northeast China 
   Switzerland
   Iceland
   Russia
   Holland

suppose…

we have only a CPU and we do not have a GPU(Graphics card) at all, it might not be efficient to earn  whole bitcoin. 

But, if we mine bitcoin with CPU and GPU it most probably we can at least  a grater part of a bitcoin.

Note: the better the graphics card and CPU the faster we can mine bitcoin.

 

₿itcoin’s history in detial

₿itcoin is a complete digital type of money and is owned by no one. The idea came on social media in 2008 by a man named Satoshi Nakamoto then the idea was put into action in 2009 and some months later the first bitcoin transaction took place, A guy spent 10,000 bitcoins for 2 pizzas with was roughly worth 40$.

Later on in 2012, two online black markets came in business. They only accepted bitcoin so nobody could see that a black market transactions happened. Some how luckily, the FBI found it out and shut down the black market.

                    The Black Market

From then on people got to know about bitcoin and many enthusiasts stared buying, mining or trading bitcoin.
Lately Elon Musk invested $1.5 billion  on bitcoin.