Introduction To Bitcoin Now, you’ve probably heard the word Bitcoin floating around. You might have seen the price has been skyrocketing recently. You might have seen that Tesla has bought $1.5 billion worth of Bitcoin and is going to start accepting it as payment. And you might have heard of all these weird things called a Dogecoin which are apparently going to the moon. Let’s take a deep dive into the world of Bitcoin and cryptocurrencies with this blog. By the end of this you will be able to understand for yourself “Why should you invest in Bitcoin?’’, “How does it work?” and “Is it safe?”                                                                                                                                                                                                                                                                                                                  History of Bitcoin The best known world financial crisis was in 2008, and collapsed the world economy system. On 31st of October 2008, one person or group of people under the nickname Satoshi Nakamoto posted 9 pages of whitepaper, which describes Bitcoin and blockchain working protocols. He described it as a completely decentralized system of electronic cash from person to person (P2P) without 3rd person actions. In 2010 the first transaction was using virtual coins to buy 2 pizzas.                                                                                                                                                                                                                                                                                                                                                          What is Bitcoin? We understood how Bitcoin appeared and started moving his journey in the virtual world. Now let’s understand what Bitcoin is. Bitcoin is another kind of computerized cash and, actually like with all cash, you can store it, trade it, and make installments with it. The way in which in particular makes Bitcoin unique in relation to public monetary forms like the US Dollar, the Euro or the Japanese Yen lies in its decentralized design and opt-in model. What's the significance here?  With incorporated 'fiat cash' (literal money by government), the cash is given by national banks, and residents are compelled to utilize the cash of their country. Except for cash (which is turning out to be progressively uncommon), exchanges are made through delegates like banks and installment passages. Bitcoin, on the other hand, is a select in money that is constrained by the 'agreement' or the desire of its clients. It comprises a developing organization of individuals who willfully consent to the standards of the Bitcoin convention. They utilize a decentralized framework to make exchanges on a shared premise and to store esteem freely of any administration, organization, or monetary foundation. There's no compelling reason to request authorization to utilize Bitcoin, and there's no danger of being cut off from the framework. Significantly, the actual framework is headless and appropriated worldwide, making it both impervious to debasement and incredibly strong.                                                                                                                                                                                                                                                                                                                                                                                                What is blockchain? Blockchain is an arrangement of recording data that makes it troublesome or difficult to change, hack, or cheat the framework. A blockchain is basically a computerized record of exchanges that is copied and disseminated across the whole organization of PC frameworks on the blockchain. Each block in the chain contains various exchanges, and each time another exchange happens on the blockchain, a record of that exchange is added to each member's record. The decentralized information base oversaw by numerous members is known as Distributed Ledger Technology (DLT).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Understanding Bitcoin Bitcoin is basically one giant huge spreadsheet. This spreadsheet is called a ledger and in the spreadsheet we have got a record of every single Bitcoin transaction that has ever happened since January 2009. For instance, let's say you are going on a holiday with a group of friends and you don't want to keep on splitting the bill and handing over cash because that’s a total nightmare. Therefore, someone makes a spreadsheet to keep track of who owes what. And so the first  line in the spreadsheet might be Faiza owes Simon 10 dirhams, second line can be Marium owes Faiza 20 dirhams. And the idea is that as our holiday goes on, we would keep on adding stuff to our spreadsheet or a ledger. And at the end of the holiday we would all settle up and then actual money would exchange hands. Now assuming you trust your friends, to be honest this works reasonably well. You can basically treat this whole spreadsheet as virtual money. I am giving my friends virtual 10 dirhams in exchange for them paying for dinner. Other friends are giving me virtual 20 dirhams in exchange for me paying for the taxi fare. Now that is fine for a group of a few people on a Holiday. Imagine hypothetically, if the whole world were to run on a similar spreadsheet, where instead of money ever exchanging hands like physically it would just be a line item in the spreadsheet. Now imagine a world in which everyone trusted the spreadsheet and everyone was being honest and nice by only adding legitimate things. That is the basics of Bitcoin.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Features of Bitcoin It's got some fancy features that make it really really clever, and that make it a potential candidate for the currency of the future. See, the problem with our ledger system is that if it's on a spreadsheet usually it's one person who is maintaining the spreadsheet? And everyone has to trust the person who makes entries in the spreadsheet. This is similar to an entire system of the centralized financial model in the USA. The international monetary fund is like the central body for the government. Bitcoin is able to decentralize by making sure that there is no central person in charge of them. There is no one person or one company saying they have the master spreadsheet. Instead what happens is that every single person in the world can have a copy of that master spreadsheet if they want. With Bitcoin there are millions of people around the world on their computers who each have a copy of the master spreadsheet. And each of those computers are running software that is constantly checking to make sure that master spreadsheet is legit.                                                                                                                                                                                                                                                                                                                       Summary Bitcoin as a decentralized system won’t be controlled by any organization. If every person will use this system, it will raise bitcoin on an international level like the dollar in the world. You will be able to pay with it in any country, your money is safe wherever you are. No need to exchange money. Once, Satoshi Nakamoto said: “current financial system is crashing, that’s why I created the new one, which will save the world and raise it to a new level“. In this blog we discussed what bitcoin is and how it works. To believe in a system that can change our world in the future or not, is only your choice.