BITCOIN TRANSACTIONS
BITCOIN TRANSACTIONS

Summary/Abstract: Bitcoin is digital money, created and stored electronically. Bitcoin is not printable and is not controlled by anyone. It is produced by numerous people using computers all over the world using software that solves mathematical problems. Bitcoin is the first example of such a currency called cryptocurrency. Given that this is just the beginning of the digital money revolution, Bitcoin is the easiest to explain with the classic evolution of today's currencies through gold. Bitcoin was created as a product of the idea of software developer Satoshi Nakamoto; electronic payment based on mathematical evidence. His idea was to create a currency without central government, with electronic transmission, with very little or no transaction cost. Because of this, no one issues Bitcoin. Bitcoin is not physically issued in the shadow of central banks, where people cannot count it and where banks set their rules. The aim of this paper is to highlight the latest scientific knowledge regarding the use of Bitcoin in practice, but also to highlight the negative side effects. In this paper, author used Desk analysis which enabled him presented conclusions. Since Bitcoin transactions represent a new form of business, it didn't take long to see the misuses occur. Therefore, a permanent investment in all forms of computer security is required.

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