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Looking On The Bright Side of

Bitcoin Facts

Despite Bitcoin making the news a couple of times some people are still yet to know the full story behind the crypto currency. The currency stands out due to its autonomy from traditional banking. Apart from Bitcoin there are other types of digital currencies that you can invest in but the former is the considered to be the best known world over. 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.

Many investments are acted by government policies but the beauty of Bitcoin is that it’s not subject to any authority at all , no bank controls its supply. A lot of factors in an economy will drive low inflation on traditional currencies in an economy but If your investment is with Bitcoin you need not worry about low inflation because Bitcoin mining is limited to twenty one million units only, its right to say that new Bitcoins being released into the market are decreasing. Bitcoin has impacted people’s lives differently and some stories will leave you in awe. In its introduction, Bitcoin would have cost you pennies but now the cryptocurrency goes for over six thousand US dollars for one Bitcoin.

Erik Finman is one of the youngest Bitcoin millionaires after he took one thousand dollars his grandmother offered and invested in the block chain technology, two years later the value would appreciate to one hundred thousand dollars. The young man later dropped out of school to develop his own company that he sold for three hundred Bitcoins. Another amazing story is that of one Kristoffer Koch who invested twenty seven dollars in Bitcoin that would later be worth eight hundred and eighty six thousand dollars, the funny thing is he completely forgot about his investments until he saw Bitcoin on the news later on.

While some people have gone off to make mouthwatering amounts of money through Bitcoin some have experienced the complete opposite. 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. The story of the ten thousand Bitcoin pizza is bound to close the curtains, one man Laszlo Hanyecz paid ten thousand bitcoins in exchange for Papa John’s pizza which at the time were worth thirty dollars but today they are worth eighty two million US dollars, this was the first Bitcoin transaction for a tangibles as you can see when you click the page of our website.