Abstract

This work provides an explanation of the market underlying the evolution due to modern technologies and technical advances, especially in transactions. In this regard, the authors specify the aspect related to the creation of virtual currencies like bitcoin that can circulate thanks to the Blockchain system through miners’ work. The authors consider areas related to the warnings on the use and exchange of virtual currencies. The aim is to conceptualize in a graphical way the current operational transaction in bitcoin through the existing exchange platforms. The authors try to attest the fickleness of the disintermediation ideal founding Bitcoin. The analysis purposed could be interesting and useful to provide a kind of interpretation of the phenomenon and a general overview about Bitcoin system.

Key words: Bitcoin, cryptocurrencies, transactions, blockchain, public administration.