According to financial authorities along the lines of Bob Jain, few methods of payment are as overlooked as Bitcoin. For those that don't know, or may have only heard the name in passing, this is an entirely digital method of payment that allows peer-to-peer interaction. What this means is that payments are made directly without the need for a middleman. The following 4 tidbits should provide you with a better understanding of Bitcoin in general.
Bitcoin was created in 2008 by Satoshi Nakamoto, though the actual identity of the individual is unknown. This name is used to describe a person or even a group of people responsible for the development of the aforementioned payment system. There are certain "facts" floating around about Nakamoto, such as that he was born in 1975. However, information like this is largely unsubstantiated and cannot be verified.
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.
Bitcoin was created in 2008 by Satoshi Nakamoto, though the actual identity of the individual is unknown. This name is used to describe a person or even a group of people responsible for the development of the aforementioned payment system. There are certain "facts" floating around about Nakamoto, such as that he was born in 1975. However, information like this is largely unsubstantiated and cannot be verified.
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.