Bitcoin catches up news headlines time and again due to multitude of reasons and diverse perspectives of the experts and traders about it. Despite being a digital currency, its popularity has left the industry wondering and worried at the same time. While some financial specialists had termed it as ‘the future of money’, some termed it as the “drug dealer’s dream.” There are still some others who consider it as “disruptive” or “transformative.” Dealing with Bitcoin not only provides you complete anonymity which lacks in traditional banking and trading; it has also radically changed the way we do banking and online transactions. Let’s discuss how Bitcoin trading is moving the world ahead and what challenges lie for it in its onward march.
Also known as an alternative currency, a cryptocurrency is used by people worldwide and is not regulated by any national government. The fact that this currency is a financial exchange existing outside the limits of any state monetary policy makes it very empowering and popular.
What is Bitcoin Mining?
There’s been much buzz around Bitcoin of late, which has already smashed through a whopping $7,000 in the first week of November 2017. Traded by millions all over the world, Bitcoin once more made the headlines with this phenomenal appreciation in its value, attracting more and more traders to invest in it. Investing in Bitcoin is a Wow business, only if you know your rise and limits, while the market is fluctuating. However, apart from this, how well you know what generates Bitcoin to be available in the public ledger? The process is known as Bitcoin Mining.
In the beginning of 2017, there came a proposal by Cameron Winklevoss and Tyler, which was rejected later by the U.S. Securities and Exchange Commission. The infamous duo claimed that Mark Zuckerberg, the trail-blazer and founder of Facebook, had stolen their idea and built Facebook. They came to add more that this happened during their Harvard days and when they planned to launch a Bitcoin-based Exchange-trade Fund (ETF). The decision of SEC came after almost 4 years since the duo filed for regulatory approval.
Money has seamlessly changed forms with passing years. Starting from gold coins, the money took the forms of paper bills and proof of credit. These forms can be physically different from one another, but they are still backed by governments. Legal tenders majorly constitute fiat currencies that are governed by officially established monetary systems. However, in 2009 came the bitcoin—a new digital currency that was not backed by any bank or government but was created using a computer code.
A quick and short introduction to BITCOINS
Since 2009, Bitcoin has been a buzz-word in the virtual economy. Its value has always surged, and at one point of time, 1 Bitcoin equaled $3,000 right after the launch. Quite surprising, isn’t it?
But, the irony is that there are yet many, who have no idea of ‘what exactly Bitcoin is.’ This article enlightens you, as to what Bitcoin is and how it can be your next great investment.
‘Bitcoin has smashed through $7000 on 2nd Nov,’ and to your surprise it’s still making headlines worldwide! However, the irony is – the very digital currency is still a mystery to many, while a decent group is making the most of its existence.