What is Bitcoin and how does it work? Is it legal? And Who's behind it?

[Robust]

Bitcoin is a legal, legit and the most popular coin in the marketing of crypto currencies at my side. Because of it value now and maybe in the future and the amount to invest such kind of coin is good to be high to earn enough.

 

[Thinker009]

Bitcoin is a decentralized crypto currency , its actually not controlled by anyone ,it's why you should invest in it now , because it's another opportunity and way for you to make more profit and gains from the market

 

[Dagm1]

Even if Bitcoin is legal, it is subject to much of the same rules that apply to conventional assets. The most common area where people get into difficulty is with tax regulations. Bitcoins are typically recognized as property rather than cash for tax purposes.

 

[Adecyptii]

Yea bitcoin is the first digital currency and currently the best coin with the highest rate,it has been invented around 2008,and its considered the best crypto coin.

 

[Bookwormlux]

Bitcoin is having vast ways in which we can use it, and it is greatly dependent on the individuals concerned. Personally, I only make use of it to receive payments from sites .

 

[Ub40]

Personally, I only know that bitcoin is a digital currency created in 2008 by some group of people named satoshi Nakamoto, just as someone already stated above. And it has gained so much popularity today as it is being used for both online and offline transactions.

 

[Laurentta]

Bitcoin is a digital currency, an invisible coin used for carrying out transactions. It is said that no one knows who is behind bitcoin. Bitcoin is legal in some countries and illegal is some other ones.

 

[Adecyptii]

Bitcoin is one amongst many cryptocurrencies existing. Bitcoin has been in ise for over ten years now. They used it to by products and making payments for services rendered. You can do a simple Google search on Bitcoin and know more

Yes you are right by saying it is termed as the best crpto coin, and it us mainly used for either buying product and making payments for the service that was Rendered.

 

[greenie]

Even where Bitcoin is legal, most of the laws that apply to other assets also apply to Bitcoin. Tax laws are the area where most people are likely to run into trouble. For tax purposes, bitcoins are usually treated as property rather than currency. Bitcoin is generally not considered legal tender.

 

[Grandeur]

Bitcoin is a digital currency backed by its value, we only know that bitcoin was created by satushi Nakamoto and based on its legality, oh well, many world government don't endorse bitcoin most likely because it's a threat to the financial market they control.

 

[Bousine123]

Bitcoin is an online digital currency invented by a Japanese man satoshi Nakamoto in 2009 as a decentralised currency for peer to peer transactions, you can buy and sell it.

 

[CeeJase]

I have an uncle who owns a large poultry and farm. His poultry supplies eggs to almost everyone in his town and the neighboring one. Imagine the profit he rakes in daily from these sales. On his farm, he plants vegetables and other fruit which he sells to market women.

Some people can actually be very funny when it comes to the responses they give to an enquiry because this response doesn't have anything to do with what is being asked about bitcoin but it's funny.

 

[HayKay]

Bitcoin can be simply explained in lay man terms as the new means of internet or digital payment that's not controlled by any financial institution or individual; transactions have their own unique codes and are stored in blocks.

 

[Lens]

Bitcoin is a digital asset and it is the pioneer coin. It came into limelight 12years ago and it is practically the best cryptocurrency. The founder of bitcoin is anonymous.

 

[Syldan]

Well, people have different opinions about what bitcoin is. It's a digital currency which is used for exchange of goods and services, it was invented in 2008. It's legal and it allows everyone has a total control over it coin and it's decentralized.

 

[Sincerem]

Bitcoin is a crypto currency that operate in the digital realm as substitute for the already known fiat currency which operates using gold in the vault system to check and control it's value. The crypto currency rather operates using a decentralized protocol and is only controlled by the activities of investors , miners , developers and other users.

 

[Syldan]

Bitcoin is a digital currency which is used in both internationally and domestically for business transactions, buying and selling of goods and exchange. It's legal depending on the country policy and its influence by the level of demand.

 

[Ononivami]

The bitcoin is a decentralised digital currency that can't be altered by the third party. It is the safest means of payment. The founder of bitcoin is satoshi nakamoto and he remained anonymous.

 

[Bookwormlux]

Trying to know who is actually behind the concept of bitcoin can be describe as an impossible task, but more and more countries have made it legal already.

 

[Syldan]

Bitcoin is a digital currency which can be used in replace of the fiat and other currencies for the purpose of transaction. It was invented in 2008. And it becomes more valuable because of the high demand.