What is a Bitcoin?
Bitcoin is a digital powered by peer to peer network used primarily for internet transaction.
Benefits of bit coin:
- As anonymous as cash
- Impossible to Chargeback
- Not controlled by a government
- Impossible to inflate due to printing
Generating blocks used to record bitcoin transactions over the network. Blocks are necessary to prevent double spending
Based on digital signatures, payments are made to bitcoin "addresses" or "public keys": human-readable strings of numbers and letters around 33 characters in length, always beginning with the digit 1 or 3, as in the example of 175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W.
Users obtain new bitcoin addresses as necessary; these are stored in a wallet file with links to cryptographic passwords or "private keys" that enable access to and transfer of bitcoins. A file or "wallet" containing bitcoin addresses is usually encrypted with an additional password.
Bitcoin Miner is basically a bitcoin server. Bitcoin has its own exchange like regular stock market where you can buy and sell bitcoin.