What is bitcoin?
Over the past couple of weeks everyones favorite topic has been bitcoin. From the local news to the blogs and even friends and family everyone has been talking about it.
But what exactly is it?
Bitcoin is a crypto currency. Simply put its money. For example we know that the official currency of the United States is the dollar the official currency of England is the pound and bitcoin is just like them, it was created to be able a means of transaction, but what makes it different from the US dollar or the Great British Pound?
Well, bitcoin has no official government, there's no central power that regulates it, and that can be good or back depending on who you are and how you look at it.
But why is it worth so much?
Well bitcoin has become more of a digital asset than a currency. It's worth sooo much money because there is more demand than there is supply. The sea rule applies to stocks traded in the stock market and regular currency traded in the forex market. There is a fixed number of bitcoins and an increasing number of people wanting to invest in it/
Is it a reliable investment?
All investments come with different levels of risks. People can invest in stocks which are very risky to real estate which tend to be pretty safe (unless of course you invested between 2005-2009). Bitcoin has taken the cake as the most risky investment so far.
But is it worth it?
Well if you would have invest just $300 in March of 2010 at the price 0f $0.03 you would have $165,900,000 (it is currently priced at $16,590). Hell, if you invest $10,000 in January of this year when it was trading at $800 you would have made $207,375 dollars this year!
Ok so we discussed briefly what bitcoin is. Do you want to invest in it?
But what exactly is it?
Bitcoin is a crypto currency. Simply put its money. For example we know that the official currency of the United States is the dollar the official currency of England is the pound and bitcoin is just like them, it was created to be able a means of transaction, but what makes it different from the US dollar or the Great British Pound?
Well, bitcoin has no official government, there's no central power that regulates it, and that can be good or back depending on who you are and how you look at it.
But why is it worth so much?
Well bitcoin has become more of a digital asset than a currency. It's worth sooo much money because there is more demand than there is supply. The sea rule applies to stocks traded in the stock market and regular currency traded in the forex market. There is a fixed number of bitcoins and an increasing number of people wanting to invest in it/
Is it a reliable investment?
All investments come with different levels of risks. People can invest in stocks which are very risky to real estate which tend to be pretty safe (unless of course you invested between 2005-2009). Bitcoin has taken the cake as the most risky investment so far.
But is it worth it?
Well if you would have invest just $300 in March of 2010 at the price 0f $0.03 you would have $165,900,000 (it is currently priced at $16,590). Hell, if you invest $10,000 in January of this year when it was trading at $800 you would have made $207,375 dollars this year!
Ok so we discussed briefly what bitcoin is. Do you want to invest in it?
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