Many people when they hear about this cryptocurrency have to criticize it without knowing how Bit coin works. The systems on which it is based, which can lead to new applications now unimaginable, surely suppose a great revolution in a few years, because every time there are more people who start to buy Bit coins.
In addition, the number of users who use it has grown exponentially, and it was in 2016 when many companies have begun to see great growth opportunities in cryptocurrencies, as they allow them to break into new markets previously limited by barriers imposed by the current payment systems.
Why is it significant to be acquainted with how Bitcoin works?
On the whole, because I still do not know anybody who knows how it works and criticizes it and, on the contrary, I know many people who know nothing about Bit coin but criticize it as if they were experts. Therefore, I consider that the most significant thing is to know about its process so that everyone can then assess whether to use it or not.
I recommend the contrary 1 btc to usd to what banks recommend, because when they offer their clients their products they do not want them to know anything about it, because they always try to deceive with hidden clauses and conditions to get to own other people's money. Bitcoin can make your money yours and, therefore, I think you should know how it works.
The transactions of bitcoins
The study of transactions can give a clearer idea of how Bitcoin works since a transaction is a transfer of value between two addresses or portfolios of Bitcoin that is included in the chain of blocks or Blockchain.
Bit coin portfolios are represented by a sequence of letters and numbers. This number is unique and would be the equivalent of the bank account number. One of the great advantages is that it is very easy and quick to create Bitcoin portfolios (you can see how to create yours in the portfolio section) and that allows you to have the money in several places. For example, I usually allocate some portfolios to operate and others for savings and, depending on the purpose of the portfolio, I choose a more or less secure system to store the Bitcoins.