Over time, cryptocurrencies have reached a large transaction volume where millions of people buy and sell, and have become the most trending agenda topic of recent years. How much is bitcoin (btc), which has a high transaction volume in the cryptocurrency exchange? Bitcoin (BTC) how many TL, how much?
You can easily follow the price for instant cryptocurrency trading on the Coinactual.com Finance page. Bitcoin (BTC) is $23,934.05 as of 12:45.
Investors in search of alternative returns follow Bitcoin charts and news and follow live prices. Bitcoin (BTC) is 428,273.54 Turkish lira as of 12:45.
Bitcoins, which are not produced from any center, show a point-to-point distributed network feature similar to Bittorent networks. Payments made in this network reach other points instantly, so that the payment from which address to which address is recorded. Thus, the collected records are located in structures called blocks. By applying a hash algorithm that requires high processing on each block, it is desired to find the expression that starts with a certain number of zeros.
The first user to perform this transaction, which corresponds to approximately every 10 minutes, is rewarded from zero to 50 BTC (currently 12.5 BTC). Thus, Bitcoins are driven to emission. Each block contains the hash expression of the last block before it. This creates a blockchain that is very hard to break (except for the 51% attack). The aim is to avoid double spending and to keep records of submissions. The amount of reward awarded is halved every 210 thousand blocks (approximately every 4 years) (50,25,12.5,...).
The process of creating money is called mining. Mining is the general name of the process of performing mathematical operations using computational power and power. To make these transactions, the nodes in the bitcoin network that download the offered bitcoin software and perform processing-intensive operations on their hardware (usually video cards) are called "miners".
The first block of the system was named "genesis block" and was produced on January 4, 2009. As such, the first transaction in the block is a private transaction and is initiated by the creator of the new money block. This is an incentive system for miners to join the network, so that money can enter the system distributed as desired, without a central authority to issue the money. In this way, miners make a profit both by generating and driving new bitcoins into the system, and by receiving bitcoins from the system in exchange for services to perform pending transactions.
The regular addition of new money to the system is likened to gold miners finding gold and putting it into circulation, hence the name mining. In the current process, miners continue to produce the amount of bitcoin that will come into circulation each year at a decreasing and predictable rate. In the system, production will continue until a total of 21 million bitcoins are in circulation, then the production process will stop and miners will continue to be supported only at transaction costs.
Bitcoin is used as a payment and investment tool in some countries. In Turkey, it is possible to buy bitcoin for TL. Bitcoins have a value because they can be used like money, and some funds are also known to be interested in this product with the expectation that its value will increase as its popularity grows in the future. The value of Bitcoin is determined by the supply and demand conditions in the market.
When the demand increases, the price increases and the price decreases. There is a limited amount of bitcoins in circulation and there is a limit and procedure for generating new bitcoins. The biggest threats to Bitcoin's market value are; technical difficulties, legislative changes due to the approach of countries to this money, and the negative change in people's desire and trust in this money.
Most Bitcoins were designed by MIT professors. MIT professors are creating a new Bitcoin technology using mathematics and cryptology.
Follow Bitcoin, altcoin, crypto money news, last minute developments and current articles from Coinactual.com.
Follow us on Instagram and join our YouTube channel!