Bit coin guide for novices: Everything you need to know that you have exceeded 2000 Euros

Although the Bit coin story is short (it emerged in 2009), it has rained a lot since its launch. His creation has always been surrounded by a certain aura of mystery, But still today, eight years after its creation, Bit coin is not entirely mainstream.

Bit coin, technology, and economics

Bit coin is a very curious technological idea. By combine computer network, cryptography, and software it is likely to create a fully dispersed virtual currency, without the need for a central entity to issue and control it. Eight years later, cryptography remains resistant and the use of Bit coin has skyrocketed.

The economy behind 1 bitcoin  this currency is the same as the one behind anyone: scarcity and confidence. That is to say, there is a solid basis for a Bit coin to cost money, at least as solid as the one that fixes the prices of gold. And although Bit coin was the first crypto currency there are many others.

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Bitcoin, how to get them

It is clear that if we want to obtain Euros it is enough to work in a country whose currency is euros or go to a currency exchange office. But how do we manage to have Bit coin? Of course not working, since it is not an official currency in any country in the world.

The beginnings of any currency are complicated. There has to be an issuing bank, people have to trust and accept the currency and little by little it is put into circulation. On the other hand, with Bit coin, there is no issuer, the distributed computers that ensure that the transactions are correct to obtain, from time to time, coins as a reward. This is called mining, and it is the way in which money is created with Bit coin.

But before putting our computer to work to create money, I have to say that mining is crazy right now. Those who make money with this technique have clusters of computers with dedicated graphics cards and in areas where electricity is cheap or even subsidized. Making money from mining is a thing of the past.