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Bitcoin and Cryptocurrency - Coggle Diagram
Bitcoin and Cryptocurrency
Bitcoin
type of cryptocurrency
biggest one
most invested
Satoshi Nakamoto
unknown person or group of people
2008
founder(s)
payment network
limited supply
BTC
Cryptocurrency
decentralized
no central bank or single administrator
your money goes straight to the other side
ledger
blockchain
- secure type of ledger
organized into blocks
each transaction recorded as a block
transaction data
everyone in the network owns copy of the ledger
very hard to hack
everyone can see your transaction
all transactions registered here
pros
universal currency
Peer-to-Peer electronic cash system.
cons
their value is unpredictible
not accepted as a form of payment in most places
other cryptocurrencies
Ethereum (ETH) - second most investet
Litecoin (LTC)
Cardano (ADA)
Polkadot (DOT)
Stellar (XLM)
...
about 4000 other
digital money
Real or Fake
Bitcoin and cryptocurrency are both real,
more and more people invest huge amount of money into it.
Whole network works really well and it's safe.
The money's only digital, so you can't physically touch it, go to a bank and get a bitcoin coins. You can cash your bitcoins as whatever currency you like. A lot of people believe that cryptocurrencies are our future.