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.
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.
Do you know what the value of a bitcoin is? If not, rest easy knowing that you're not the only one. According to Robert Jain, the value of this digital currency is largely determined by how the general public views it. What this means is that you cannot look at a coin, for example, and see how much it's worth like you could a dollar bill. To say that this interesting would be an understatement, but there's far more to learn about Bitcoin as a whole.
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.
Do you know what the value of a bitcoin is? If not, rest easy knowing that you're not the only one. According to Robert Jain, the value of this digital currency is largely determined by how the general public views it. What this means is that you cannot look at a coin, for example, and see how much it's worth like you could a dollar bill. To say that this interesting would be an understatement, but there's far more to learn about Bitcoin as a whole.
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.
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