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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. 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. 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. 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.

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 would later drop out of school to develop his own company that would later find a buyer who offered three hundred Bitcoins for the company . One Norwegian man, Kristoffer Koch was writing a thesis paper and that is how he came to know about Bitcoin, he invested just twenty seven dollars and forgot about it later when he saw Bitcoin trending on the news he remembered his password and checked to see what he had , it was a whooping Eight hundred and eighty six thousand dollars to his name and this info. is contained on our website.

The success stories are fun top discover but there are people who have lost on Bitcoin too. One of the loss stories is that of Jered Kenna who was an early adopter of Bitcoin, he bought the coins when they cost twenty cents per coin, however hackers got to his email and got access to his wallet and erased his computer taking with them 800 coins. 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.