Bitcoin: How it works - 2020

Actually, I do not know.

I'm trying to figure it out.

As of Dec 8, 2013, according to http://bitcoincharts.com/bitcoin/, we have 12 million bit coins.

There will never be more than 21 millions!

There's basically three ways to get a hold of a Bitcoin:

1. We can buy them.
2. We can take them as payment for products or services.
3. We can go out into cyberspace and create them, otherwise called "mining."

Bitcoinity switched to mBTC as the default bitcoin unit: 1,000 mBTC = 1 BTC

We can check the current value from http://bitcoinity.org/markets.

http://www.bitcoinmonitor.com/

We can monitor the transactions in real time from bitcoinmonitor.com.

The website visualizes the activities on the Bitcoin network: Coins being moved around (transactions), recording and tamper-proofing the history of events (block creation) and exchanges with other currencies taking place (currency trade).

http://www.bitcoinmonitor.com/