The Stories of Bitcoin
Despite Bitcoin making the news a couple of times some people are still yet to know the full story behind the crypto currency. This crypto currency is autonomous from the traditional banking that people have come to know. There are many crypto currencies that are in circulation but Bitcoin has made its mark as its considered to be the best known in the world. Bitcoin transactions are based on computer networks solving complex mathematical functions to verify and record the details of each and every transaction that happens.
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. Different people have had different experiences with Bitcoin and their stories are worth getting to know. In the early times, Bitcoin just cost pennies but the value of one Bitcoin has appreciated to over six thousand dollars.
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. 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. 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. 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.