The oldest of the current banks in China Bank of China on its website published a material with infographics , in which he explained how the bitcoin works and how valuable it is.
The publication covers the history of Bitcoin , including the issue of white paper in 2008, the mining of the first 50 BTC in 2009, the purchase of pizza for 10,000 BTC in 2010 and other important events for the system, ending with the announcement of Libra, writes CryptoBtcMining.com .
Also, the material mentions a number of factors that have a positive effect on the price of cryptocurrency, including the limited emissions, the increasing complexity of mining, the use as a medium of exchange and a tool to protect against inflation.
As negative characteristics of cryptocurrency, the authors point to speculative risks, as well as some events in the past, including the collapse of the Mt. Gox and various asset theft episodes.
According to the Bank of China infographics, the main area of application for Bitcoin is international settlement, since the cryptocurrency has lower commissions compared to traditional payment systems and allows you to transfer money faster.
“Yesterday Bank of China published an article about bitcoin, ” commented Samson Moe, the CSO Blockstream.
They explained how BTC works, why its price grows and how it is valuable. I never thought it would happen. ”
Earlier, Bank of China took part in testing the payment system on the blockchain developed by the country's central bank.
Publication date 07/28/2019
Share this material on social networks and leave your opinion in the comments below.
