Although the history of Bitcoin code is short (began in 2009), much has happened since its launch. Its creation has always been surrounded by a certain aura of mystery, because it is not known who created it. Satoshi Nakamoto is only a pseudonym he used the person who gave birth to the project.

But still, eight years after its creation, Bitcoin code is not entirely mainstream. Many were surprised that the creators of ramsonware affecting Telefónica and other companies want to charge in Bitcoin code. We will explain everything about this coin.

Bitcoin code is a curious technological idea . Combining computer networks, cryptography and software you can create a fully distributed virtual currency without a central entity to issue and control. Eight years later cryptography remains resilient and use of Bitcoin code has exploded.

The economics behind this coin is the same as that behind any: scarcity and confidence. That is, there is a solid foundation for a Bitcoin code cost money, at least as solid as fixing gold prices .

Although Bitcoin code was the first cryptocurrency there are many others . True, Bitcoin code remains the most popular although while others like ethereum are rising valueother value – added services they offer.

Clearly, if we want to get euros enough to work in a country whose currency is euros or go to a currency exchange office. But how do we get Bitcoin code? Of course not working because it is not oficinal currency in any country in the world.

The beginnings of any currency are complicated. There must be an issuing bank, people have to trust and accept the coin and gradually is getting into circulation.Instead Bitcoin code there is a transmitter, the distributed computers the positive reviews are all fake that ensure that transactions are correct obtained, occasionally, as a prize coins. This is called mining, and the way money is created with Bitcoin code.

But before you put your computer to work to create money I have to say that mining is crazy right now. Those who get money with this technique have clusters of computers with dedicated graphics cards and in areas where electricity is cheap or even subsidized. Make Money with mining is passé.

So? Where do we get Bitcoin code? Because as in the real world, in the exchange of currencies. On the Internet there are many and allow us to change standard money (euros, for example) Bitcoin codes. Coinbase is a site change (and purse, as discussed below) quite popular.

Now we come to the big question: how and where Bitcoin code saved? Well, the criptomonedas as Bitcoin code are completely virtual. To access them were originally using a software. This software allows us to see the balance we have in our account and make and receive transfers.

The good thing is that Bitcoin code is an open protocol, there are many software to manage our money. There is for Windows, Linux, Mac, Android, iOS … I personally recommend take on mobile and Android inside me like Android Wallet .

However use software has a hazard. If for some reason we spoils the device or is deleted or reformatted, we lose all the money . Bitcoin code say that the money is in „the cloud of Bitcoin code“ ( so- called Blockchain ) and what software keeps a copy of the key to access it. If you use a software it is advisable to make a backup of these keys.

Another option to take control of our Bitcoin code is to use a web wallet. In this way a website is responsible for keeping our keys and will access our accounts with a user name and password. Basically what these sites is the function of a bank .

Coinbase is a good choice for this, it also allows buy and sell Bitcoin codes. The only bad thing is that if we use this method we lose part of the fun of having Bitcoin codes, using a completely decentralized system without relying on trust in any entity.Requisarnos no one can steal our money without keys. However if you have money in a web we have to trust her.

Now it may seem that the Bitcoin code is very expensive, more than 2000 euros to change. And it’s not a good time to invest in it. But in the past we have seen similar times, and the board should be the same: careful because it is a pretty good speculative .

Bitcoin code has suffered many bumps in the road. The first was the closing of the Silk Road, a market for illegal exchanges that the FBI closed in 2013 . The transaccciones were made with Bitcoin codes and the share price plummeted.

Just one year after the largest Bitcoin code exchange in the world, MTGox, suffered an attack and stole 744,000 Bitcoin codes, of its members. Soon he had to close . Again the price down.

But Bitcoin code was not a fad. And although still many challenges ahead , he has managed to overcome every setback. So must be taken into account in the future either as an asset or as a currency to pay.