How to understand well that is a bitcoin

How to understand well that is a bitcoin

With the development of technology people have had the opportunity to get to know new countries, languages and customs from your computer but has also influenced the economy by creating new forms of exchange.

The virtual world is a universe that, despite the fact that it is something tangible, allows you to perform many actions and transactions while saving time and money. A basic example of this type of situations are activities such as: buy travel insurance, make online courses; communicate by video calls, buy clothes, shoes, books, etc., which, although it may seem basic, it was impossible to consider a few decades ago.

Thus, faced with the need to use a different means of payment to the credit and debit cards, and yes, the money itself (physical), development of a new form of exchange, by way of currency called Bitcoins.

This is a virtual currency that was created in the year 2009. In itself, it is not money, since the purchases with this currency is more akin to the exchanges such as those that were made in a barter market where the exchange between goods made in accordance with the utility which represents the product to the people who are doing the exchange, that is to say, referring to a kind of monetary value; as in the case of fiat currencies of all countries that is supported by the national production.

FP recommends not only Bitcoin: what are the other digital currencies

The expert, Juan Carlos Man, professor of financial operations of the University of the Andes, explains that “the Bitcoin is a virtual currency that functions as a payment system, based on computer files. It is a mechanism through which you can make transactions for payments of goods and services via the internet”.

According to the information of the web page of bitcoin is coin use peer-to-peer technology to operate without a central authority or banks. The management of the transactions and the issuance of bitcoins are carried out collectively by the network. Bitcoin is open source, its design is public, no one owns or controls and all over the world can participate.

In an economy like this currency union is creating its market by leaps and bounds. It is as well as in Spain “Serrano street in Madrid” was renamed “street bitcoin”, this is due to the fact that since the year 2014 many establishments located on this block are receiving the currency as a means of payment. What is more, on this street is also an atm bitcoin, which immediately becomes a ticket in its equivalent in Bitcoins. Then, these days if you’re traveling to Spain and arrive to the city of Madrid could approach this street to experience how it is to make payments with this currency.

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