Post No. 3: Bitcoin.
Bitcoin is  cryptocurrency (this is a digital asset design to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.  and worldwide payment system It is the first decentralized digital currency, as the system works without  central bank or single administratorl The network is peer-to peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in public distributed ledger called a blockchain. Bitcoin was designed by an unknown person or persons under the name of Satoshi Nakamoto. He created its original reference implementation and also devised the first blockchain database.

On 18 August 2008, the domain name “bitcoin. Org” was registered. IN November that year, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to- Peer Electronic Cash System was posted to a cryptography mailing list. In January 2009, the bitcoin network came into existence after Satoshi Nakamoto mined the first ever block on the chain, known as the genesis block. In that document we can find the following text:

“We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof –of-work to record a public history of transactions that quickly becomes computationally impractical or an attacker to change if honest nodes control a majority of CPU power. The network is robust in its unstructured simplicity. Nodes work all at once with little coordination. They do not need to be identified, since messages are not routed to any particular place and only need to be delivered on a best effort basis. Nodes can leave and rejoin the network at will, accepting the proof-of-work chain as proof of what happened while they were gone. They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism." (Conclusion of  Bitcoin: A Peer-to-Peer Electronic Cash System)

Today 6 January 2018 1 Bitcoin equals 17006.99 US Dollar.
Billionaires on Bitcoin ( Bill Gates, Richard Branson, Chamath Palihapitiya. Time: 12:20:
https://www.youtube.com/watch?v=dh0J1kmb6KY


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