Virtual currency changes after the birth of Bitcoin

Bitcoin emerged during the global financial crisis. The essay, written by a person named Satoshi Naka moto, inspired the vision of Bitcoin.

The value per bitcoin started from almost zero. But now it has risen to about $6,400. To summarize the paper, Bitcoin makes it possible to directly trade with each other directly through financial institutions without using pure peer-to-peer electronic money.

Bitcoin is operated through a distributed ledger system known as a block chain.

For the first few years of its birth, Bitcoin was not widely known to the general public, only to the attention of some enthusiasts and criminals who were looking for a means of money laundering.

When the price of 1 bitcoin exceeded 1,000 dollars about 113,000 yen for the first time in 2013, people at financial institutions began to pay attention.

The initial idea of Bitcoin was to make payment easier, but many experts say that it is mainly used as a means for storing value and also as a speculative means because of its volatility. The US Securities and Exchange Commission SEC is currently considering whether to approve a listing application for Bitcoin ETF, a listed investment trust that includes Bitcoin as an investment target. If the SEC accepts the application, Bitcoin will be part of the existing financial system that it was trying to avoid.

Bitcoin uses a technology called block chain, and builds a network with an unspecified number of participants to maintain and manage information for all participants, thereby creating availability and fragmentation resistance without system interruption. In addition, since the information written on the block chain cannot be basically rewritten, the block chain has been drawing attention in recent years as a technology suitable for storing information that is difficult to falsify. These technologies allow Bitcoin to exchange value on the Internet without the intermediary of trustworthy third parties such as financial institutions. After the paper was published, the development team gathered under Satoshi Naka moto to start the development of Bitcoin. Bitcoin mining started in January 2009, and the first block (Genesis block) was generated. Initially, Bitcoin had no property value and could not be exchanged for goods or services.

Virtual currencies such as Bitcoin were used without any legal basis; the Japanese government said that virtual currencies have the same value as currency. It was noticed that you admitted. In Japan, crypto currency exchange companies are obliged to register with the Financial Services Agency, and regulations such as money laundering prevention and user protection such as asset segregation will be established. Use for more details.

An example of the Bitcoin ecosystem

The Bitcoin ecosystem refers to all industries and services that surround Bitcoin. Below, you will introduce representative businesses and services related to Bitcoin.

The editorial department introduces the outline of Bitcoin in 5 points in an easy-to-understand manner. You also introduce recommended exchanges and sales outlets where you can buy Bitcoin, so please take a look.

Currently, Bitcoin has a strong aspect as a target for speculation. Looking at the world as a whole, virtual currencies such as Bitcoin are: Although it is being used in various fields, it has not yet reached the stage where it penetrates the economy. Mega banks will be overwhelmed by taking a bite out of Bitcoin with the possibility of becoming huge in the future. In addition, cooperating with bitcoin players such as coin bases and bit flyers for megabanks will lead to technical cooperation in utilization of block chain mentioned above, and will be described below. Although Bitcoin has the potential to turn over the conventional concept of money, many people are worried that there is no issuer administrator and that price fluctuations with respect to fiat currency are large.

You can use crypto assets virtual currency such as Bitcoin BTC to collect the price of shopping and goods/services. Payment costs using crypto assets virtual currency are becoming widespread, such as the introduction of Bitcoin BTC payments at major electronics retailers because payment costs are lower than with credit cards and do not require more complicated procedures than bank transfers. Block chain is a technology born as a distributed database that realizes Bitcoin.