What is the bitcoin?

A currency that actually doesn't really exist, is making an unprecedented rise.

The bitcoin, a virtual currency, breaks milestone after milestone and is now approaching a mythical border. One bitcoin is just not worth $10,000. Five questions about the coin.



The bitcoin is a unit of currency, like the euro or the dollar. But unlike the euro and the dollar, there are no physical notes and coins. Bitcoins are actually not much more than rules of computer code. Who stand in a large digital log, in which the user must then send what amount to keep track of who who together. That is based on mathematical formulas, where not to cheat. Everyone keeps everyone honest, is the idea. The bitcoin is the largest virtual currency, but not the only one. The ethereum, the ripple, the litecoin, the dash and dozens of others work in much the same way.



Yes. People only need to create an account at a trading platform. That makes a so-called wallet, a digital wallet. There are a few variants with different levels of security. Users can buy coins, for example, in Exchange for euros or dollars. It also allows them to transfer coins to the wallet of another to pay. Who wants to redeem coins, she offers for sale and let for example, transfer the value in euro on a regular bank account.



No. At some stores, people can pay with the coin. But it is not legal tender anywhere, there are no central banks, there is no guidance and the bitcoin actually has no rules.



That no one actually knows. The system is one in 2008 created by Satoshi Nakamoto. Presumably that's a pseudonym, but it has never become clear by whom.



Yes and no. Each user has its own ' account number ' for his or her wallet. But all the transactions of such a wallet are for all to see. This is necessary to prevent abuse, all participants keep each other honest. And if anyone knows who the person behind the code, it is immediately clear what one has bought and sold.