What is bitcoin and how does it impact our tradtional finance system
Bitcoin was found by a unknown person named Satoshi Nakamoto. Bitcoin is dcentrazied and peer to peer currency. Bitcoin is different from paper money in easy words its invisible currency. Bitcoin runs on blockchain technology later we discuses about blockchain technology.
From 2008 bitcoin popularity growing day by day many people starting using it. Many people started trading, accepting as payment methods. Today bitcoin trading at $25657 at the writing of this article time
Blockchain is simple ledger system that records all bitcoin & crypto transaction. Bitcoin and other currency’s use this technology. Blockchain technology can also benefits for our real life projects. eg. in hospital, in school etc.
Altcoins are family of bitcoin. they all depend on bitcoin & blockchain technology . if the bitcoin price goes down all other coin price goes down(in trading).
How bitcoin impact our traditional finance System
Many country’s concern about bitcoin and all these altcoins. Some country want to ban it and some country want to adapt it. El Salvador accepted bitcoin as a legal tender.
On the other hand, many country’s applying strong regulation on these type of crypto currency’s . like india. India gov apply strict regulation on bitcoin. They applied 30% tax on to control bitcoin and other crypto currencys.
Blockchain technology can improve our traditional system. it can developed transparency in our gov. projects etc.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.