What is Bitcoin?
Bitcoin has become one of the greatest financial hurdles of our day and age. It is one of the latest transaction methods that has gone global due to its ever fluctuating prizes. Bitcoin is one of the worlds cryptocurrencies.
Cryptocurrencies are digitally developed assets that are held as a medium of exchange of value. In recent decades, cryptocurrencies have emerged slowly to become the next big thing in the foreign exchange market. They have held a market value of over five hundred billion dollars and their values are going higher and higher by the minute.
Bitcoin is one of these many diverse cryptocurrencies that is one of the most used and most famous in today’s market. It provides a staggering value of 0.000058 per United states dollar.
All the transactions in bitcoin are stored in a global financial ledger. There are no middle men involved during the global transactions hence making bitcoin the safest mode of transaction.
Bill gates, Elon Mask, Richard Branson ( and other rich and influential personalities) believe that bitcoin is one of the most unstoppable trading assets of our day and age. They simply believe that it is “unstoppable”.
Where Does the Value of Bitcoin Come From?
The increased value of bitcoin is attributed to the increased number of users, miners (which we will explain in a moment), merchants and startups that are created and pump their funds into the platform.
Some critics argue that bitcoin is simply a bubble that will explode when the users are finished. This is far from the truth. Bitcoin is one of the most legitimate methods of trading and its value cannot go down due to the increased number of users that are there day and night. The significant number of users in essence provides a sense of security to the use of the currency.
There are no governments or organizations that influence the value of bitcoin and other cryptocurrencies. This protects the currency from inflation and taxes. The users of this currency are therefore, in essence protected from breaking the law.
There are no laws that can control a heavily globalist currency such as bitcoin. It is a currency that can be used by anyone, anywhere, anytime and in any language. There are no boundaries to its use because one can store it digitally.
How Is It Minted?
Just like any other currency, bitcoin is minted and processed. Complex mathematical calculations are involved in the minting process of bitcoin.
It is processed through miners throughout the world. Miners use processors to complete bitcoin blocks. Anyone can be a miner as long as he or she has an electronic device that is able to perform the processing. There are strict global keys that are available so no one can hack the global ledger.
Every processed bitcoin transaction includes a miner’s fee. Miners are not middle men but rather they provide some sort of continued cycle in bitcoin value. There is also a network fee that is applicable during bitcoin transactions.
Should I Invest in Bitcoin?
You need to make that assessment. There has been a small correction in the overall value of Bitcoin market. Now may be the time to explore further.
Bitcoin in essence is not going away any time soon. The profits that you would get through investing or starting your own bitcoin mining farm are just immense. You cannot miss this great opportunity to improve your standards of living.
Please share this article with your friends and colleagues so that they know the importance of this new method of transaction. Many millionaires have come out of cryptocurrencies. You never know, you or your loved one could be the next one. Invest today!
- Neel Mehta, Aditya Agashe, Parth Detroja
- Publisher: Paravane Ventures
- Paperback: 243 pages
- Susan Hollister
- Geneva World Publishing
- Kindle Edition
- Brand New in box. The product ships with all relevant accessories
- Andreas M. Antonopoulos
- Publisher: O'Reilly Media
Last update on 2020-03-20 / Affiliate links / Images from Amazon Product Advertising API
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