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## Introduction Hello steemian, it of great pleasure that I take part in this tasks and will put in my very best in responding to the question. https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png ## Questions >What Is Bitcoin and what was the Aim Behind Bitcoin Invention? Is Cryptocurrency Good For A Business To accept As Payment? Why? https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png ## What is bitcoin https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png ![3500.jpg](https://cdn.steemitimages.com/DQmeSyh9rTuFjqYoRAYSp7ZnE1XX9teZspFH83zDWaShfWA/3500.jpg) [Source](https://www.google.com/amp/s/amp.theguardian.com/technology/2020/dec/16/bitcoin-price-hits-all-time-high-of-more-than-20000) Bitcoin is a decentralized currency by this I mean it is a currency that is not been control by any third party it is operated by the individual. It is a currency that works directly with buyers and sellers which we normally know has trader no government officials or financial institutions involve and the charges on transaction done here is always low without any geographical boundaries restrictions. Bitcoin is also a currency that is being used digitally and is also free from government intervention and is always operated by 2 parties which are the buyers and the sellers while the currency that government control is fiat currency or physical currency to do what the like which causes the rise in inflation. Bitcoin was in the year 2009 created by a man by name Satoshi Nakatomo and he did this because of how the government mismanaged and also misuse it fiat currency over the citizen because the also put conditions that only favor them alone this is what really made satoshi come up with the idea of bringing a currency that is decentralized and government can not interfere in it. Bitcoin is also known as a cryptocurrency due to the fact that it is being generated through mining that always required miner to produce a block https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png ## What was the aim behind bitcoin invention? https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png The aim of behind Bitcoin invention was to make the currency decentralized and by this government will not have power to control it as the do with the physical currency. Bitcoin is a currency that is only been influenced by investors especially the whale the are the once that make decisions about the decentralized currency Bitcoin is also a digital currency that that aid in storing information about all the transaction, it security network is very strong thatbit can not be hacked easily The major advantage of Bitcoin is that it is decentralized and only managed, controlled by the individual no third party you are the one the manages your public and private keys here and spend your funds at your will and in your comfort zone. The invention of Bitcoin was just a response to the issues we have financially and over reliance to the bank with out finance as intermediaries. https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png ## Is Cryptocurrency Good For A Business To accept As Payment? Why? https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png To me yes it is due to reason I will he giving below. * In cryptocurrency, the rate at which individuals are being charged per transaction is always low compared to fiat currency charges from banks. * Here, individual make use of the peer to peer technology no distance barrier and also no central body involvement. * With cryptocurrency individual transaction is always transparent no hidden thing amd transaction is always very secured * It helps in promoting cashless policy no risks of robbery * With cryptocurrency individual business can be able to gain new capital from just investing. https://cdn.steemitimages.com/DQmb1S2ShkKm6fAy7uwjThEcYAy9qUyBxGdc7sy7BecZHDe/k75bsZMwYNtze9xHvT6xWCdz7q3QGD35ZKdaPpVrFksWkHfvXdMnnK2CBDQ84mxLFQSzRL9vNyWcNgVPCxTkVjr35dEoS61B5hgvWBxgfs1xXyhufVmAHv7PZpCTFQZpZj6aVhtmgMsGwzpHFvqiW1F33Yqq6Prw8.png ## Conclusion I must say that the lecture was really a wonderful and impactful one as I said Bitcoin has really played a great role in improving a country and the citizens standard of living. A great thanks to prof @stream4u and prof @shemul21