Virtual or electronic money PAIR à PAIR, for example BITCOIN
When was the first time you came across the term « bitcoin »?
11 April 2013 : the value of the bitcoin dropped from 266 to 105$ and settled at 160$ in less than 6 hours.
5th of December 2013 : The central chinese bank prohibited all local banks from all transactions using Bitcoin.
11th February 2014 : Bitcoin trading platforms were massively under attack.
24th of February 2104 : The managing director of the main platform Mt Gox, resigned from the Bitcoin foundation. From Mid february onwards, following the discovery of a bug, cash withdrawals were suspended. On the 25th of February, Mt. Gox’s website was a blank page…
What is Bitcoin?
Electronic money « pair à pair » and decentralised, works thanks to its users, without a central authority or intermediary.
Validation of transactions and generation of money based upon the principles of cryptography.
Payment system without a centralised infrastructure taking into account amounts held in order to ensure the transactions.
The software provides a personal portfolio allowing a user to send and recieve Bitcoins.
The network shares a large accounting book named « block chains ». It contains each processed transaction allowing a users computer to verify the validity of each transaction.
the mining: anyone can process transactions by using the computing power of specialized equipment and earn a return reward for this service.
Send and recieve any sum of money instantaneously, anywhere in the world at any time.
Payments using BITCOIN are currently handled for free or at a very low cost. BITCOIN transactions are secure and irreversible.
BITCOIN payments are carried out without any personal information linked to the transaction.
High volatility and low adoption levels. No legal guarantee for refunding at any time and at the nominal value.
By its own self, Bitcoin promotes the bypassing of rules related to the struggle against capital money laundering and the financing of terrorism.
An important legal risk related to its status of being a non regulated money.