Bitcoin - [ The Internet of Money ] What ? When ? Why ? How ?
Home Share Market Bitcoin – What ? When? Why ? How?
Bitcoin – digital crypto-currency, a new technology, which is becoming popular these days. The person who are aware of it must have this question on mind that why to invest in Bitcoins?
One simple reason could be the past history which shows about how the value of Bitcoin has increased. How the technology is decentralized without any interference of third party. Let see the insight of the bitcoin in order to understand the opportunities of investing in Bitcoins.
✓ What is Bitcoin ?
It is a digital currency which is created and exchanged independently of any government or bank. The currency is produced through a computer program and can be easily converted into cash after deposited into virtual wallets.
✓ When Bitcoin was launched ?
It was launched in the Year 2008, a programmer known as Satoshi Nakamota name believed to be an alias a paper outlining Bitcoin's design and which released in the exchange of the Scheme.
✓ How Bitcoin Works ?
It works through open source software program and its supply is controlled by a computer algorithm.
✓ How to trade bitcoins ?
Exchanges like MT. GOV provide a better place for people to trade bitcoins for other types of currency. Payments to the merchant who accepts Bitcoins are made from the wallet application either on your computer or Smartphone by entering the recipient address the payment amount.
✓ Who controls the Bitcoin Network ?
it is controller by various reasons. The developers improve the software. They can't change Bitcoin protocol because virtual currency can work correctly of there is consensus among all the users.
Why to Invest in Bitcoin ?
Bitcoins cannot be create beyond 21 million. This is big limitation which will surge the value of Bitcoin as when the demand goes up. The demand is constantly going up due to more and more people using it. Such limited supply will ensure that demand is always more than supply and hence it will make sense to invest in bit coins.
It is the first Global Currency which has its presence over 180 Countries across the global. Everyone are taking out their money from saving accounts and buying bit coins just to ensure their money doesn't go waste due to bank insolvency.
Companies ranging from Goldman Sachs, American Express, and Perkins all decided to Invest in bitcoins. Such Investment in Bitcoin start ups and Venture Capital Investments.
According to the survey it is reveal that 50% of the transactions that happen are for the purpose of Investments. By the year 2025 it is expect that 67% of the transactions are for the purpose of Products and 33% for the Investments.
Bitcoin has market capitalization of more than 9 billion USD. The total number of people possessing Bitcoin is hardly 2-3 million.
In the Bitcoins trading you cannot manipulate market price or manipulate a transaction. A transaction once done cannot be reverse. There is no middle man like Banks or the Financial Institution who can influence the market, prices or regulate the transaction. Hence Bitcoin are clean, fast, cheap and non reversible.
Bitcoin has gain much popularity when there is no comparison with digital currencies.
This is the reason why there is difference between bitcoin and any other currency.
There is no agency of government controlling Bitcoins. There is no transaction controlling bitcoins. Bitcoins are protect against the Bank Insolvency.
How to trade bitcoins ?
Who controls the Bitcoin Network ?