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What is Bitcoin? This is the first and most famous of the set cryptocurrency symbol and flagship kriptovalyutnogo the world, as well as the monetary unit of the same name, which is drawn within the system. Later in this article we'll show you how it works cryptocurrency the example of Bitcoin. What is the most significant feature of Bitcoin in terms of the economy? This digital good with limited supply and its algorithm is designed so that the system may be a maximum of 21 million units, each of which is also called "bitcoin".

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Schedule emission defined software and known in advance. After the last coin to be generated, their number will not change. Bitcoin economy is built on the model of deflation, which is a concern of many economists. But they do not find a practical justification. In fact, such a relatively small number of coins is sufficient for routine calculations, as bitcoin 1 100 000 is divided into 000 sections called "Satoshi" after the creation of the system. Sometimes used the concept of "millibitkoyn" (mBTC, one thousandth) and "mikrobitkoyn" (uBTC, one millionth). Bitcoin began with the concept - a document issued October 31, 2008 a mysterious person, who worked under the pseudonym Satoshi Nakamoto (Satoshi Nakamoto). Who is the developer of the present one is a person or group - is still unknown, despite numerous journalistic investigations. On 3 January 2009 originates the practical implementation of this concept in the code. At 18:45 GMT (22:45 Moscow time) 03.01.2009 was generated by the first unit in the network, the genesis of the so-called block. This day is considered the birthday of Bitcoin community and is celebrated worldwide.

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