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Earlier versions of bitcoin clients allowed using the computing power of computer central processors, but it was extremely energy consuming and, as a result, financially unreasonable. Mining on video cards was faster and more efficient, and now uses specially designed devices, the so-called ASIC equipment.

Why does Bitcoin have cost? People have always appreciated useful and indispensable things. A useful thing always has a demand and a price. The initial cost of crypto-currency is the cost of the electricity consumed. The secondary value is determined by the demand for this crypt-currency. Bitcoin has value because it is useful as a form of money. Bitcoin has the characteristics of money (durability, mobility, inadequacy, separability) and can also perform the functions of money (means of accumulation, means of payment, measure of value). Its use is not based on physical properties, like gold and silver, but on mathematical ones. The real price of bitcoin is determined by the balance between the demand of people who need it and the supply of people who have it.

Is Bitcoin reliable as a form of money? Bitcoin is reliable because..:

a) it is impossible to bypass the difficult process of mining to get unallocated bitcoins (the best cryptoanalysts in the world have failed to do so!);

b) it's difficult to hack into someone else's wallet. To check at least half of all possible pairs of private and public keys, it takes more than a dozen thousand years;

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c) it's impossible to spend the available bitcoins more than once. Each transaction must receive at least six confirmations. If overspending is detected, the extra transactions will be cancelled. After your confirmation, the transactions will be permanently and absolutely anonymously stored in the database. In this case, you can add a commission to each transaction, and this will increase the speed of its confirmation. The commission is added to the miners' reward, so after all the coins are issued, the commission will ensure the profitability of the cost of mining.

Can I use Bitcoin to pay for goods and services at this time? More and more companies and individuals are using Bitcoin. Not only digital products and services such as domain name, hosting, various programs and license product keys can now be purchased for Bitcoins, but also many real things that are sold, for example, in online auctions or online stores. Even now in Russia, you can pay with bitcoins in Chelyabinsk, Ekaterinburg, Ufa, Kazan, Volgograd, Moscow, St. Petersburg and other cities. Many international and Russian companies accept bitcoins for their goods, such as "WordPress", "Rocket" - one of the most famous and prestigious watch manufacturing plants in Russia, "Dell" - one of the largest companies in the field of computers.

It should be noted that the first purchase, paid for by bitcoin, was made by an American named Laszlo Hanech, who in 2010 purchased two pizzas for 10,000 coins. In just a few months it was possible to buy a whole pizza place for this money. At the peak of its popularity, the cost of bitcoin reached about $ 1200, now there is a trend of falling prices, but there is every reason to believe that its rate will rise (Fig. 2).

What are the opportunities for Bitcoin development in Russia? Bitcoin itself reflects new technological ideas that do not have any significant analogues today. Any technological novelty takes time to win the minds and hearts of ordinary consumers, to form the necessary economic and legal prerequisites for its development. Legal regulation of Bitcoin use in Russia is still prohibitive. Thus, the letter of the Bank of Russia, presented on 27 January 2014 on the Bank's website, considers the cryptographic currency as a tool potentially involved in questionable transactions [6]. The letter refers to the ban on the issue of money surrogates in Russia, but no specific sanctions for the issue have been introduced so far. If we detract from the legal aspect and consider the social and economic one, among the main factors of the development of the use of the cryptov currency in Russia and abroad we can single out the efficiency and security of the cryptov currency, the mobility of monetary capital and the activation of the processes of labor migration in the country and in the world in general [7].

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