{"version":"1.0","provider_name":"Niza Global","provider_url":"https:\/\/blog.niza.io","author_name":"Niza Global","author_url":"https:\/\/blog.niza.io\/author\/wow\/","title":"What is Bitcoin and Why Do People Use It? - Niza Global","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"liPzz38NCu\"><a href=\"https:\/\/blog.niza.io\/what-is-bitcoin-and-why-do-people-use-it\/\">What is Bitcoin and Why Do People Use It?<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/blog.niza.io\/what-is-bitcoin-and-why-do-people-use-it\/embed\/#?secret=liPzz38NCu\" width=\"600\" height=\"338\" title=\"&#8220;What is Bitcoin and Why Do People Use It?&#8221; &#8212; Niza Global\" data-secret=\"liPzz38NCu\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script>\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/blog.niza.io\/wp-includes\/js\/wp-embed.min.js\n<\/script>\n","thumbnail_url":"https:\/\/blog.niza.io\/wp-content\/uploads\/2024\/12\/btc-niza-2.jpg","thumbnail_width":1274,"thumbnail_height":708,"description":"IntroductionAs someone new to the world of cryptocurrency, stepping into this realm can feel both exciting and overwhelming. My background is in Business and Economics, yet after spending nearly a decade working with nonprofit organizations, diving into crypto has been an eye-opener. If you&#8217;re in the same boat, let&#8217;s explore this fascinating topic together. 1. What is Bitcoin? Bitcoin is the first cryptocurrency ever created. It allows users to send and receive value anywhere in the world with just a computer or internet connection. This is made possible through blockchain technology, which secures and records transactions. Imagine blockchain as a digital ledger, similar to a page in an encrypted spreadsheet. When a transaction occurs, it\u2019s verified by computers worldwide solving complex algorithms. Once verified, it becomes part of a &#8220;block,&#8221; which is then added to the blockchain. Each block is immutable and publicly accessible, ensuring transparency and security. Since its launch in 2009, Bitcoin has been decentralized, meaning no single entity controls it. Every transaction is visible to the public, ensuring trust and eliminating the need for intermediaries. For instance, one of the earliest Bitcoin transactions involved 10,000 BTC being exchanged for two pizzas\u2014a moment that highlights its initial journey into the real world. 2. How Does Bitcoin Hold Value? For a payment system to be valuable, it must meet six key criteria: Bitcoin excels in all these areas, making it a trusted store of value. Unlike traditional currencies that can be printed endlessly, Bitcoin\u2019s fixed supply ensures its scarcity, which contributes to its value. 3. Why Do People Use Bitcoin? There are three primary reasons why Bitcoin is gaining traction: Additionally, Bitcoin\u2019s public ledger ensures every transaction is recorded and verified by thousands of computers globally, making it both reliable and transparent. Conclusion Bitcoin represents a revolutionary shift in how we perceive and exchange value. It\u2019s a decentralized, secure, and globally accessible payment infrastructure that continues to gain acceptance and adoption. As more people recognize its potential, Bitcoin\u2019s value and influence are likely to grow, paving the way for a new era in finance."}