Bitcoin is an alternative financial system whose operation is based on computer code and cryptography, without central authority, open to everyone 24/7, transparent and resistant to censorship.

Initially created as an alternative payment network, today it is mostly used as an investment asset and store of value .

1. A revolutionary concept: the blockchain

The operation of Bitcoin is based on a protocol: the blockchain. It is a digitized account book in which all transactions are listed. It is on this network that bitcoins circulate, which are therefore exclusively digital with Meme Coins.

This network has 2 fundamental characteristics: it is immutable and distributed. No data recorded on the blockchain can therefore be modified or deleted.

There is no central body that controls its operation: the data is replicated to tens of thousands of computers around the world, and anyone can participate in the network and propose changes. From these characteristics comes confidence in the use of Bitcoin Hokk Finance Meme Tokens.

2. A bit of Bitcoin history



Bitcoin was first born via a document made public on October 31, 2008, which explained the concept. This document, called ''White Paper'', is titled: “Bitcoin: A Peer to Peer Electronic Cash System”. It is initially a question of proposing a digital currency.

The Bitcoin blockchain came into service on January 3, 2009. At first, only a few passionate computer scientists were interested in it, but exchange platforms were quickly set up, allowing bitcoins to be exchanged for dollars, and therefore to set a price based on supply and demand.

On October 12, 2009, 5050 bitcoins were traded for $5.02, or approximately $0.001 per unit, which marked the beginnings of the use of cryptocurrencies as an investment medium.

Less than two years later, on February 9, 2011, Bitcoin reached parity: that day, 1 bitcoin = 1 dollar.

3. Bitcoin originally: a fast means of payment.

Bitcoin is the first international and native means of payment of the Internet. This allows anyone with internet access to use Bitcoin without limitation. Transactions are fast, and require a maximum of ten minutes to reach their destination, even if your recipient is on the other side of the world. A more efficient system than bank transfers which can take several days, especially if funds are transferred internationally.

The Bitcoin network is also cheap: it is possible to transfer the equivalent of millions of euros in Bitcoin with fees of only a few euros.

Due to sudden movements in its price, the asset remains little used as a means of payment to buy goods or services. It is perceived more as an investment tool, even as a safe haven, but we will study this question in detail later.

4. Bitcoin is rare but highly divisible.

For everything to be clear, let's distinguish between the Bitcoin protocol – which is the network on which all transactions or information are stored – and bitcoins which are the units of value that are exchanged and whose price is set by the 'Offer and demand.

One figure: 21 million.

One of the fundamental characteristics of Bitcoin is the fact that its monetary creation is predictable. 21 million: this is the total number of bitcoins that will be available on the futures market, determined by the protocol from its inception. This limit gives it an intrinsic rarity, and we often draw parallels with precious metals, so much so that we talk about Bitcoin as digital gold.

21 million units for 7 billion humans may seem insufficient if Bitcoin wants to establish itself as a medium of exchange that can be used by everyone on a daily basis, but this is a non-issue.

Bitcoin units are currently divisible up to eight decimal places, and it is possible to go even further if needed. In honor of its creator, the smallest unit in the system is called the satoshi.

One bitcoin is therefore equal to 100,000,000 satoshis, and it is quite possible to buy or trade a thousandth or even a millionth of a bitcoin.