You might have heard of Bitcoin by name, but how much do you truly know about it? For those not in the know, this is a digital payment system that allows people to make transactions between one another directly. In other words, Bitcoin doesn't require a middleman. With this information in mind, here are 4 more intriguing facts about the payment system in question, courtesy of financial authorities such as Bob Jain.
If you'd like to know who created Bitcoin, you only have to look at one name: Satoshi Nakamoto. However, the actual individual responsible for creating this system is unknown, as the aforementioned name has been attributed to not only individuals but groups as well. There has been rampant speculation regarding Nakamoto's past, including his birth and location. However, the information present is largely unverified.
Also, if you tried to figure out how much a single bitcoin is worth in US dollars, you might come up with a solid answer. The reason for this - and names like Robert Jain will say the same - is that bitcoins don't have a set value. Instead, their value increases or decreases over the course of time. For instance, if it's largely accepted that this digital currency can be used to make purchases like with traditional currency, its worth will rise.
There are different ways to gain bitcoins, with some methods proving to be easier than others. For example, if you know where to look, there are numerous websites that allow people to gain bitcoins in exchange for dollars and other traditional currencies. Considering that bitcoins are finite - roughly 12.5 million, in fact - it may not be as easy as going to an ATM in your neighborhood. Nonetheless, the possibility of being a bitcoin holder exists.
To wrap things up, you should know that it's entirely possible for bitcoins to become lost. It's important to note that this form of digital currency is held in wallets, which should be looked after with care. The reason for this is that they can become lost, along with the currency they hold. A specific code is given to each bitcoin, meaning that a replacement cannot be easily formed. For those that are looking to invest in said currency, it's worth keeping this information in mind.
If you'd like to know who created Bitcoin, you only have to look at one name: Satoshi Nakamoto. However, the actual individual responsible for creating this system is unknown, as the aforementioned name has been attributed to not only individuals but groups as well. There has been rampant speculation regarding Nakamoto's past, including his birth and location. However, the information present is largely unverified.
Also, if you tried to figure out how much a single bitcoin is worth in US dollars, you might come up with a solid answer. The reason for this - and names like Robert Jain will say the same - is that bitcoins don't have a set value. Instead, their value increases or decreases over the course of time. For instance, if it's largely accepted that this digital currency can be used to make purchases like with traditional currency, its worth will rise.
There are different ways to gain bitcoins, with some methods proving to be easier than others. For example, if you know where to look, there are numerous websites that allow people to gain bitcoins in exchange for dollars and other traditional currencies. Considering that bitcoins are finite - roughly 12.5 million, in fact - it may not be as easy as going to an ATM in your neighborhood. Nonetheless, the possibility of being a bitcoin holder exists.
To wrap things up, you should know that it's entirely possible for bitcoins to become lost. It's important to note that this form of digital currency is held in wallets, which should be looked after with care. The reason for this is that they can become lost, along with the currency they hold. A specific code is given to each bitcoin, meaning that a replacement cannot be easily formed. For those that are looking to invest in said currency, it's worth keeping this information in mind.
About the Author:
For more financial information, please feel free to consult Bob Jain now.. Also published at 4 Facts About Bitcoin, By Bob Jain.
No comments:
Post a Comment