We often hear about Bitcoin… but what is it really about? It is a digital currency (or virtual currency) that does not depend on any bank or other official institution.24
This dematerialized and private electronic money is subject to an independent computer code. Exchanges are free and the “price” fluctuates continuously according to supply and demand. But where does Bitcoin come from?
The origins of Bitcoin
The creator of the Bitcoin would be called Satoshi Nakamoto. Nevertheless, the true identity of this individual remains a mystery, especially since he would deny, in addition, being at the origin of this electronic money… Some claim that several people hide behind this patronymic.
Among the key figures of the Bitcoin are Gavin Andersen, one of the people holding the position of Executive Director at the Bitcoin Foundation. This non-profit association has the role of protecting, promoting and above all standardizing Bitcoin. Although Gavin Andersen is not the only executive director of the structure, he also has the status of “chief scientist” and has a specific power to send a message to all users of this virtual currency in the event of extreme concern.
Also worth mentioning is Nick Szabo who was part of the Cypherpunks, an online community that developed the basic principles of Bitcoin in the 1990s. Many are even convinced that he is the famous Satoshi Nakamoto, but he has always denied it..
It should be noted that Bitcoin is a digital currency that does not have a specific legal status. Overall, it is accepted although there are countries where its use is prohibited, such as Russia or Thailand. In addition, Bitcoin is accepted by some companies as a means of payment, but only for relatively small amounts. On the US side, there have been attempts by the FISC to set up a tax system for this currency. But, in general, there is still a legal uncertainty… One thing is certain, the Bitcoin still has a bright future ahead of it.
Even without legal status you can find Bitcoin as an asset on binary options with brokers like AnyOption, 24option or OptionWeb. As it is a question of currency, Bitcoin must also be able to be traded by Forex brokers and some players in the sector also offer it, such as eToro and Avatrade.