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. This crypto currency is very unique and is not affected by traditional forms of 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. 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.
Changing government policies among other factors in the economy makes people lose out on investments but with Bitcoin that is nothing to worry about as the currency is not subject to any authority. 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. 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.
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. 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.
The success stories are fun top discover but there are people who have lost on Bitcoin too. 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.