What is Bitbar?
Bitbar is a digital currency that enables instant payments to anyone, anywhere in the world. It uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Bitbar is open-source; its design is public, nobody owns or controls Bitbar and everyone can take part. Through many of its unique properties, Bitbar allows exciting uses that could not be covered by any previous payment system.
Bitbar was created in 2014 by an anonymous individual or group of people using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are low transaction fees and it’s very fast to transfer money from one person to another across the globe. The supply of BTC isn't affected by inflation because it has a finite number – 21 million coins will ever be created.
Bitbar can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
Bitbar is different than other currencies because it is decentralized and secured through cryptography. No single institution controls the bitcoin network. This puts some people at ease because it means that a large bank can’t control their money.
The Bitcoin protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use. Attempting to assign special rights to a local authority in the rules of the global Bitcoin network is not a practical possibility.
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