Hello friends, welcome to my channel The Bong Shout This video is all about Bitcoin. Please watch this video till the end. Please subscribe my channel Singing 🙂 People having misconception regarding bitcoin. So here I’ll explain what actually bitcoin is Bitcoin is a type of virtual currency, which don’t have any physical existence There is no control of any Govt of any country on this currency So why this currency is too popular in the market?? And what’s the source of this country Satoshi Nakamoto is the inventor of this virtual currency. He also invented block chain database. He is 37 years old Japanese digital currency expert. On 2008 Bitcoin first released in the market. But do you know why suddenly this currency became so popular. 1 bitcoin=100,000,000 Satoshis, 1 bitcoin=8,610.39 dollar, 1 bitcoin=612,893.59 Indian Rupee Now I’ll tell you how transactions are made using this virtual currency. I first came to know about Bitcoin at the end of 2016 I’m sharing that experience here On 2016 market price of that Bitcoin was not much higher side. This currency transaction happens in the network one peer to other peer. And it broadcast to the network and collected into blocks A transaction references to the previous transaction and its output as a new transaction This process also called block chain. You have to be the owner of the Bitcoin wallet for making any transaction. This wallet address is very secure and unique. As its made by blocks and linked with previous transaction, that’s why its almost impossible to hack this kind of transaction. Most of the Bitcoin transactions people do in Dark & Deep web for purchasing illegal products Anonymously And these transactions are very much capable to hidden owner details in the network. Or you can say people using this currency to keep anonymity And those transaction are completely untraceable Only particular Bitcoin wallet can records debit and credit information I’ve purchased 0.000001 bitcoin from a particular website for experiment purpose. I’ll share that website URL in the video description. Due to ransomware virus attackers demands and dark web transactions this Bitcoin market value got increased…. Most of the hackers these days using Bitcoin transaction After my purchased I get to know in India Bitcoin currency transaction is not legal After know this truth, I sold all my bitcoins in the same site. Although its illegal thing in India, but still few trading agencies doing these transaction through that site. Buying this Bitcoin is a high risk this days. Because you don’t know when it will be up and when it will be fall. As I told you there is no control of Govt on this virtual currency This was the reason I make this video to aware normal people about the risk of the virtual currency But at the same time few people get benefit by buying and selling this virtual currency at the correct time. There are lots of other ways to do profit in life except Bitcoin. And I’ll never recommend this Bitcoin trading in my video One more thing I want to tell you guys that Cryptocurrency and block chain maintained using high configuration machine Basically those high configuration machine makes Bitcoin wallets for the transaction. And those machines mining Bitcoins as a commission of every transaction. Normal machines are not capable to mine Bitcoins because of low configuration. This is it. I explained whatever I know about Bitcoin. If you think this video helps you to get knowledge about Bitcoin Please like, share and subscribe this video.