5 Key Takeaways on the Road to Dominating

5 Key Takeaways on the Road to Dominating

Bitcoin Facts

Bitcoin has been making moves on the web for some time now but even though it’s possible to come across people who are not informed about the new age digital currency. The currency stands out due to its autonomy from traditional banking. There are many form of digital currency today but Bitcoin is the best known. Bitcoin transactions are very secure because computer networks have to solve very complex mathematical functions so as to verify a transaction and record it, every bitcoin transition that ever took place goes down in record hence fraud is unheard of here.

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. The number of new Bitcoin being mined has gone down as the number of units is limited to just twenty one million , low inflation is not something to worry a Bitcoin investor. This cryptocurrency has changed the lives of people especially in its initial stages of introduction, their stories will blow your mind. In its introduction, Bitcoin would have cost you pennies but now the cryptocurrency goes for over six thousand US dollars for one Bitcoin.

One amazing success story is that of a twelve years old millionaire thanks to block chain technology, Erick Finman received one hundred thousand dollars and invested it all in Bitcoin, two years later it was worth one hundred thousand dollars. The young man later dropped out of school to develop his own company that he sold for three hundred Bitcoins. 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. An early adopter of the currency Jered Kenna had a bad experience after hackers went through his email and got access to his wallet and stole eight hundred Bitcoins, however that did not hold him back because through cryptocurrency the man redeemed himself. Laszlo Hanyecz paid a guy to deliver pizza in exchange for ten thousand bitcoins which at the time were worth thirty dollars but today the coins have appreciated to eighty two million US dollars, you have to let that sink in.