The Bitcoin

Abstract

The society in which we live is characterized by the constant changes that take place in it. Day after day appear new IT systems, the means of transport are improved, we can enjoy modern infrastructures and also, new sanitary measures are provided. One of the consequences of these changes, specifically of those technological developments that took place between 2008 and 2009, is the appearance of the Bitcoin, the first cryptocurrency. The work that follows, tries to explain what the function of the above-mentioned virtual currency is, how it is created, how it has evolved its price on the market, if it is appropriate or not to use it and to what extent could be secure the transactions with BTC. To continue, in the second part, will try to expose in a relevant way, which is the perception that the experts in the field have about the Bitcoins. Nowadays, there are among the users, two quite disparate points of view, due to the volatility and also to other factors that characterize the cryptocurrency. These will be explained in more detail in the present work. This last, will be the central part of the analysis because the information is current and is mainly based on reliable articles issued by the big banks, both domestic and international, also by the CNMV and by experts in the field. The main objective of the present study on the cryptocurrency is to analyze the origin of these diverse opinions, as well as the foundations that supports them. It will also seek to explain in detail how the Bitcoins can be created, where are saved as they have no physical presence and also, an attempt to understand which are the most common uses of the BTC, will be provide. In this way, one will attempt to give the reader an overview of the entire process that lies behind the Bitcoin, in order to enable it to form a sufficient basis on which to draw their own opinion about the cryptocurrencies in general, and about the Bitcoin in particular. The analysis and research has been carried out for four months, and consisted about collecting information, the comparison of it and also, in the obtaining conclusions that are finally described below.