Bitcoin Advantages And Disadvantages

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Bitcoin is known as the very first decentralized digital currency, they're basically coins that can send through the Internet. 2009 was the year where bitcoin was born. The creator's name is unknown, however the alias Satoshi Nakamoto was given to this person.

Advantages of Bitcoin.

Bitcoin transactions are made directly from person to person trough the internet. There's no need of a bank or clearinghouse to act as the middle man. Thanks to that, the transaction fees are way too much lower, they can be used in all the countries around the world. Bitcoin accounts cannot be frozen, prerequisites to open them don't exist, same for limits. Every day more merchants are starting to accept them. You can buy anything you want with them.

How Bitcoin works.

It's possible to exchange dollars, euros or other
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The disadvantage is that people may delete them by formatting the computer or because of viruses.

Bitcoin Anonymity.

When doing a bitcoin transaction, there's no need to provide the real name of the person. Each one of the bitcoin transactions are recorded is what is known as a public log. This log contains only wallet IDs and not people's names. so basically each transaction is private. People can buy and sell things without being tracked.

Bitcoin innovation.

Bitcoin established a whole new way of innovation. The bitcoin software is all open source, this means anyone can review it. A nowadays fact is that bitcoin is transforming world's finances similar to how web changed everything about publishing. The concept is brilliant. When everyone has access to the whole bitcoin global market, new ideas appear. Transaction fees reductions is a fact of bitcoin. Accepting bitcoins cost anything, also they're very easy to setup. Charge backs don't exist. The bitcoin community will generate additional businesses of all
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