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Bitcoin Facts

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 very unique and is not affected by traditional forms of banking. Apart from Bitcoin there are other types of digital currencies that you can invest in but the former is the considered to be the best known world over. Bitcoin transactions are very secure because computer networks have to solve very complex mathematical functions so as to verify a transaction and record it, every bitcoin transition that ever took place goes down in record hence fraud is unheard of here.

Changing government policies among other factors in the economy makes people lose out on investments but with Bitcoin that is nothing to worry about as the currency is not subject to any authority. The number of new Bitcoin being mined has gone down as the number of units is limited to just twenty one million , low inflation is not something to worry a Bitcoin investor. This cryptocurrency has changed the lives of people especially in its initial stages of introduction, their stories will blow your mind. In its introduction, Bitcoin would have cost you pennies but now the cryptocurrency goes for over six thousand US dollars for one Bitcoin.

One Erik Finman a twelve year old in 2011 invested all of one thousand dollars given to him by his grandmother which two years later would appreciate to one hundred thousand dollars. The young man later dropped out of school to develop his own company that he sold for three hundred Bitcoins. Kristoffer Koch leant about Bitcoin from writing a thesis paper and decided to invest twenty seven US dollars, he forgot about his investment and came to remember about it when he saw it on the news, upon remembering his password he found that his investment has turned to eight hundred and eighty-six thousand dollars with which he acquired an apartment with.

With success stories also comes some loss stories as well. Jered Kenna’s story is one that will have you feeling for the man, he was an early adopter and got hold of his coins when they cost 20 cents but unfortunately hackers would get to his email and get the access to his wallet and disappeared with 800 of the coins and deleting his computer. The story of the ten thousand Bitcoin pizza is bound to close the curtains, one man Laszlo Hanyecz paid ten thousand bitcoins in exchange for Papa John’s pizza which at the time were worth thirty dollars but today they are worth eighty two million US dollars, this was the first Bitcoin transaction for a tangibles as you can see when you click the page of our website.