Hey my dear Hive community, first of all I would like to welcome you all to my new post and hope you had a day full of positive experiences! In this post, I would like to talk about Bitcoin and explain some interesting facts.
Recently, the Bitcoin halving took place and Bitcoin is mined by the so-called process of mining and the Bitcoin network is a decentralized network that is distributed worldwide on different computers and if you provide computing power as an individual or company and help to validate transactions on the blockchain this is referred to as mining. This is done with the help of certain software and by validating the transactions, the miners get a reward in the form of Bitcoin per block and about every four years it happens that the number of Bitcoin that the miners receive is halved and this process is anchored in the code of Bitcoin and is intended to ensure that the amount is limited and in total there are only 21 million Bitcoin and it is estimated that over 19 million of them are already in circulation and if you calculate the upcoming halvings, it is assumed that in about 120 years the last Bitcoin is mined. In order to better express the topic, I have taken some pictures of coins here which are very popular with collectors and are an absolute must have for every crypto enthusiast. The history of Bitcoin dates back to 2008 when the first whitepaper was published in which the ideology and functioning of this decentralized currency is described and Satoshi Nakamoto is considered the inventor and to this day it is a controversial topic whether this person had existed at all. An important part of this ideology was to create a digital currency which can be transferred without the need for a central place and the first Bitcoin were created in 2009 and this historical block consisted of the first 50 Bitcoin has also gone down in history as the Genesis Block. Even before, there were already the concepts of digital currencies, but they could not hold up like Bitcoin and in the technology field, there were some approaches to a currency that can function independently of a central control center.
To go even deeper into the details, the prehistory of Bitcoin is already much older and closely linked to the history of cryptography and already in ancient cultures such as ancient Rome, Egypt or Greece, cryptography was used, which is considered the core principle of the blockchain and in the past, people used ancient methods for encrypting and decrypting messages. An important turning point in cryptography was the invention of the Enigma which was based on a complex mathematical principle and this machine could solve automated processes and the principle is based on old methods which, however, worked much more complex and were much more difficult to crack and with the invention of the first computers, everything has changed in this respect and it happened that no machines were needed and these algorithms could be solved with the help of software. Some time ago, I was lucky enough to be able to photograph an Enigma machine and I have attached a picture below and it is perhaps worth seeing an example of this machine. It is perhaps also interesting to know about the Bitcoin that on average the Bitcoin has not been moved by holders for over two years and it has developed more into an investment object and it is still a long way to a method of payment and for years the scene has been changing significantly and from Bitcoin there have been numerous splits of altcoins that have arisen and nowadays it has developed into a huge trend and separate much from the core ideology.
Thank you very much for stopping by and I hope you could learn something new about this interesting topic! I captured these pictures with my Camera Sony Alpha 6000 plus 55-210 mm lens.
For those who have waited for a long time now we will see a huge increase in its price.
True
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