5 Key Takeaways on the Road to Dominating

Bitcoin Facts

Bitcoin has been on the media for a long time but it’s possible to come across a person who is not familiar with it. This crypto currency is autonomous from the traditional banking that people have come to know. There are many crypto currencies that are in circulation but Bitcoin has made its mark as its considered to be the best known in the world. The beauty of working with bit coin is that the security is one of its own kind, the computer networks involved have to perform complex mathematical functions to verify and a record the transaction in an online ledger.

Another reason why investing in Bitcoin a is attractive is because there is no central bank has the authority to govern the supply of the cryptocurrency. Traditional currencies suffer heavy inflation from time to time, If you have Bitcoins you are safe because they do not suffer from low inflation, bitcoin mining is limited to twenty-one million units only. Different people have had different experiences with Bitcoin and their stories are worth getting to know. In the early days of its inception buying a bitcoin cost you pennies but today you have to part with over six thousand dollars for the same.

One Erik Finman a twelve year old in 2011 invested all of one thousand dollars given to him by his grandmother which two years later would appreciate to one hundred thousand dollars. Finman would later drop out of school and come up with a company of his own which he sold for three hundred Bitcoins elevating him even higher. Kristoffer Koch leant about Bitcoin from writing a thesis paper and decided to invest twenty seven US dollars, he forgot about his investment and came to remember about it when he saw it on the news, upon remembering his password he found that his investment has turned to eight hundred and eighty-six thousand dollars with which he acquired an apartment with.

With success stories also comes some loss stories as well. Jered Kenna’s story is one that will have you feeling for the man, he was an early adopter and got hold of his coins when they cost 20 cents but unfortunately hackers would get to his email and get the access to his wallet and disappeared with 800 of the coins and deleting his computer. Another mind blowing loss story is one where a man offered ten thousand bitcoins delivery, delivery, back then the ten thousand coins were thirty dollars’ worth so it was no big deal but today maybe the man would have never made such deal because they are worth eighty two million dollars.

Advanced reading: Recommended Site

Author: xadmin