Bitcoins

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Points to cover:

  1. What is money ?
  2. Problems
  3. Solution ? bitcoin
  4. Bitcoin origin
  5. Advantages
  6. Disadvantages
  7. Books related to it..
  8. Future
  9. Assignment  code : fun factor :)
  10. Conclusion

1. What is Money?

source: https://i.gifer.com/FU8l.gif
Definition: Currency, coins, asset, property that we spend/ sell to buy something materialistic. Or that other people give us for our services.
Everyday we need to deal with one another and we get some services from other human beings, similarly other people get some reward in exchange of their provided services in order to make a living. That reward could be and mostly is in the form of money.

2. Problems with simple money

There are many problems associated with currency in paper or other physical forms, some of them are:
  • They could be stolen.
  • Could get distorted, or torn out.
  • Could fell down.
  • Could become wet in rain.
  • You could lost them in your school bag or any cupboard.
and many other unconcerned or least considerable problems ... but the most concerned problems are:
  • They are mostly centralized. Moreover many parties are involved with in the transaction process, so the apparent transaction between two people is actually not between two people but between a chain of people and machines...
  • This can create privacy and security issues, moreover a lot of time is spent on this process
so what is the solution to these problem? Will continue this in the next blog post...





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