Bitcoin (BTC)C$118,549.33
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Bitcoin current price in canadian dollar is C$118,549.33 with a marketcap of C$2,348.53 B. Its price is -3.98% down in last 24 hours.
Bitcoin (BTC)
Bitcoin (BTC) is a digital asset designed to function as a medium of exchange that uses cryptography to control its creation and management, rather than being dependent on central authorities.
The creator, Satoshi Nakamoto, wrote the original white paper in November 2008 and the Bitcoin network came into being in January 2009.
Satoshi Nakamoto
Satoshi Nakamoto claims that he worked on the creation of Bitcoin from 2007 to 2009 and therefore would be the creator of the most famous cryptocurrency and the first Blockchain. A Blockchain is a register used to record transaction data, continuously managed by a network of independent computers.
In 2008, he published a document describing the new digital currency Bitcoin.
In February 2009, he published an announcement about his work on the P2P Foundation site.
Characteristics of Bitcoin
Bitcoin can be subdivided up to eight decimal places.
Bitcoin's unit of account is Bitcoin.
The total amount of Bitcoin is limited to 21 million units.
The most used acronyms on trading platforms are BTC and XBT.
Several unofficial symbols are also commonly used, such as ฿ and Ƀ.
In 2012, the European Central Bank qualified Bitcoin:
“The most successful and best marketed virtual currency scheme”
Volatility in the Bitcoin market
The variations in the price of a Bitcoin can be as high as tens of percent in a single day. The price of Bitcoin can rise or fall violently in unpredictable ways over a short period of time. It is mainly for this reason that Bitcoin is considered a high risk financial instrument.
In addition to the opportunities that Bitcoin offers for traders, Bitcoin also serves as a "currency" of exchange for goods and services. Several large companies are now accepting Bitcoin as a method of payment.
