Hello readers, Welcome to GoBitcoin...This is the first article i am posting here and it is an introductory part to educate you on what Bitcoin is all about. If you have any questions or are confused about something, just feel free to drop your inquiry as a comment and i will try as much as possible to reply.
Now here we go....
What is Bitcoin?
Bitcoin is a new kind of money or better stated, a form of digital currency which is created and held electronically. It is not controlled by any individual or institution and not issued by any Government. Bitcoins are not minted or printed like other currencies like the dollar, Euro, Naira etc rather they are produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. The people who "produce" these bitcoins are known as "Miners" with the use of powerful computer hardware and software. (We will later talk about miners and how they mine Bitcoins in another article)