What Is Bitcoin Know 2019

                                       

Bitcoin was invented by Satoshi Nakamoto, who published the payment system in a whitepaper in 2008. Released as open-source software in 2009, the bitcoin system is peer-to-peer which means that transactions take place without the need for a third-party. These transactions or payments are then recorded in a public distributed ledger called the blockchain, which uses bitcoin as its unit of account.


You can download software called wallets on your smartphone or computer that store your bitcoin and work with the bitcoin network to let you send and receive payments. You own your bitcoin by keeping track of a private key. It's a digital signature that no one can forge or fake. Because you're the only one who owns your password, there is no reset or recovery. You have total control and total responsibility

How to Check Bitcoin Confirmations

Once you make a transaction, your wallet should give you an option to view the transaction on a block explorer or give you the transaction ID.

A transaction ID looks like this: 7a4351080dd982f56253b2d5c4ff9

To check the number of confirmations for a transaction, paste the ID into a block explorer like blockchain.info