Bitcoin Blockchain simplified

Blockchain is database and Bitcoin is the only data present in that database.

No one is able to delete data from blockchain database which means that no one can’t delete your Bitcoin. This answers the question if Bitcoin can simply disappear and answer is simple as NO.

Can someone steal your Bitcoin? Answer is YES.

Your wallet passcode or exchange password(private key) can be stolen and your Bitcoin accessed ergo you need to keep your pass and passwords (private keys)safe as much as you can! Blockchain as database is increased every 10 minutes for 1MB of data.

As the name implies Blockchain is built from blocks and blocks are actually new information.

There is no way to change information in blocks that are already added to network and information can be written only when new block is added.

With each new block,blockchain database grows every single day.

These database changes are strictly planned and set where Bitcoins are changing owners and there are new 12.5 Bitcoins that are released inside blockchain circulation each day.

Each new data of 1MB that is made by miners is rewarded with Bitcoin. Miners are “writing” new data and no one is able to delete any data from the blockchain.

Blockchain can be accessed from various platforms and devices such as Andriod, Iphone, PC, WEB… What you can see on screen of device or platform is actual data read from blockchain database.

Facebook, Gmail, Instagram and Youtube are also databases and also can be accessed from various devices but you need according software to do so.

Same as above to access blockchain technology you need according software called “Wallet”. Main difference between blockchain database and other databases is that blockchain is not centralized system.

It is clear that Google, Facebook, Youtube, instagram, Twitter, Banks are centralized systems where owner is known to all and owner can delete, alter, change, forbid, miss use you and your information from their database at any moment if that pleases them and that is the biggest problem with these systems.

Even if owner’s intention is not to do anything questionable with your data he can be forced by others.

We spent days, weeks, months and years to develop and store data that can be deleted with just one click by database owner!

On these centralized systems it is impossible to develop serious system for value exchange and we should move towards decentralized ones such as Blockchain.

Blockchain doesn’t have owner that can manipulate with all data inside database and instead each owner of Bitcoin is able to manipulate with his account and amount of Bitcoins and no one else.

Everyone can start to use Bitcoinblockchain(database) and anyone can be a miner if you know how and if you want to.

This is decentralization and there is no centralized authority in Bitcoin blockchain.

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