Bitcoin P2P Virtual Currency
Pere | 11.01.2011 13:01 | Globalisation
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network.
Bitcoins can be sent easily through the Internet, without having to trust middlemen.
Transactions are designed to be irreversible.
Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
The total eventual circulation will be 21 million bitcoins. There will never be more coins than that. The coins are entering circulation gradually, at a steady pace over many years, to nodes supporting the network in proportion to the CPU time they contribute. With the current total CPU power on the network, most CPUs will usually take months between successfully generating 50 BTC.
Bitcoins are a new kind of money. They aren't created or controlled by a government (like dollars or euros), they're created and controlled by anybody who wants to be part of the Bitcoin payment network.
http://www.bitcoin.org/
Transactions are designed to be irreversible.
Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
The total eventual circulation will be 21 million bitcoins. There will never be more coins than that. The coins are entering circulation gradually, at a steady pace over many years, to nodes supporting the network in proportion to the CPU time they contribute. With the current total CPU power on the network, most CPUs will usually take months between successfully generating 50 BTC.
Bitcoins are a new kind of money. They aren't created or controlled by a government (like dollars or euros), they're created and controlled by anybody who wants to be part of the Bitcoin payment network.
http://www.bitcoin.org/
Pere
Homepage:
http://www.bitcoin.org/
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