Bitcoin usd is a payment systemand a cryptocurrency created by a group of programmers and an unidentified programmer under the name of Satoshi Nakamoto. Btc usd released as open-source software in 2009 and was introduced on 2008 to a cryptography mailing list. There have been various speculation and claims concerning the identity of Nakamoto. The transaction take place directly between users without an intermediary. These transactions are recorded in block chain in the network and verified by network nodes which conciser bitcoin as its unit of account. The U.S. Treasury categorizes it as a decentralized essential currency. Btc is called the first cryptocurrency, although previous systems existed and it is more correctly categorize as the first decentralized digital currency. It is the largest of its kind in terms of all market value. They are created as a competition’s reward in which users offer their power of computing to record and verify bitcoin transactions into the block chain. This activity is called mining, successful miners are newly created bitcoins and rewarded with transaction fees. In addition to be obtained by mining, this virtual currency can be exchanged for other currencies, services and products. The transaction being confirmed by sending bitcoins, users can pay an optional transaction fee to the miners. 65357
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