Bitcoin, a coin that is not understandable even by tech savvy but still everyone is crazy about it. This coin may not exist physically but still making noise in the market. People from Silicon Valley to the Wall Street everyone is talking about it right now. It was introduced few years back and now one on top of the chain. Based on the Blockchain technology blocking everyone’s thinking capability of how it is working.
Here we will talk about few things that you should know while going for Bitcoin. These facts may help you in making right decision regarding investment in it. So let’s begin the discussion.
The name that is highlighted with Bitcoin is Satoshi Nakamoto. No one really know about this name, whether it is a person or a whole organization. It is actually a digital key that is stored in digital wallet. The concept was introduces back in 2008. Then it got legalized and worked further from 2009. It is available for people since 2010.
Creator is a Ghost:
No one actually knows who really Nakamoto is. Existence of the Nakamoto sounds like a person but there is no proof supporting it. Newsweek once claimed that they have found the creator. That was Dorian Satoshi Nakamoto and he just denied it. Same happened with Entrepreneur named Craig Wright from Australia. He also claimed himself as creator but due to lack of evidence it is still unclear.
Bitcoin in the Market:
The first transaction from the Bitcoin was done back in Nov, 2010. A programmer ordered a pizza for which he transferred 10000 bitcoins. If compared to today than it is worth of $99M. People were still using it to buy stuff. Overstock.com, Expedia, Newegg are one of those big company those were using it in that time.
Billionaire vs Bitcoin:
Not everyone is Billionaire and not everyone is Richard Branson. There are few Billionaires who are not happy with bitcoin in market. Warren Buffet stated this cryptocurrency as a Mirage. “You can’t have a business where people are going to invent a currency out of thin air. It won’t end well … someone is going to get killed and then the government is going to come down on it.” These are the words from Jamie Dimon.
Teen and Twins Investor:
Cameron and Tyler Winklevoss, twin people do not know actually but know Facebook. Yes, they are the twin who sued Mark for stealing the concept idea of Facebook. Winklevoss twins invested in bitcoin in 2013 by purchasing coins worth of $11M. Now as per of early December, they have become bitcoin billionaire. Also a 14 year old boy made investment in bitcoins with $1000 in 2014. The kid is high school dropout but thanks to bitcoins, he is a millionaire now.
Support from Big Name in Finance:
Fidelity Investment is one of the big admirer and supporter of the cryptocurrency. Hadley Stern in a interview with Reuters shared his view on Bitcoin. It is experiment for the Fidelity Investment on learning interaction of their customer with these cryptocurrency. The company allows their customer to see into their digital wallet filled with digital coins.