Bitcoin? What’s that? Who are we kidding? It’s been the hottest and the most frequent point of discussion among the hot-shot investor, entrepreneurs and stock traders within the industry. So, we expect your heads to be raised and to pick your ears up!
It’s Digital – So Fancy!
For starters, it’s a digital currency and it’s not controlled by the authorities. Yes, the government isn’t involved, and neither are the banks. It uses a ground-breaking blockchain technology that records all the cryptocurrency transactions in a public ledger chronologically.
Say Hello to the Miners
It’s basically created by “miners” who use specialized hardware and computers to process transactions, collect bitcoins in exchange and ensure the currency’s network is secure as hell! The process to create Bitcoin is an energy intensive process. The computing power required has added to thse energy system all over the world. It’s a secret not many know! Shush!
8 Years and Going Strong
It’s officially been 8 years, full of highs and lows. Back in 2008, the creator of Bitcoin whose identity is unknown to the world. But, he goes by a pseudo name Satoshi Nakamoto, he published the concept and by 2009 the proof was published in 2009 to a cryptocurrency mailing list. We don’t know why, but Nakamoto disappeared from the scene in 2010 and we still don’t know why.
An Expensive Meal
Guess what the first ever transaction was? Someone bought a very expensive pizza! That someone was a programmer, Laszlo Hanyecz. On May 22, 2010 he reported, he was successful in trading 10,000 bitcoins for a pizza. Now 10,000 Bitcoins are worth $99 million. Damn! Are you amazed by the fact as much as we are?
Spend it All
No, we’re not firing shots in the dark! It’s true and happening. Believe it or not people have started to use Bitcoin to buy stuff for themselves. Tattoo? Makeup? Airplane tickets? You name it! Even large businesses have started to accept it. We’re talking about Overstock.com, Ebay and Expedia. There are more, you’ll have to look around and surprise yourself!
Some of the prominent investors in Bitcoin are the two good-looking twins Cameron and Tyler Winklevoss. If you don’t remember them. Let us jog your memory. Remember when Mark Zuckerberg was sued for stealing someone’s idea? Yes, they are them! These Harvard graduated twins bought $11 million Bitcoins in 2013. Woah! That’s a lot of zeros in there!
That was 1 percent of all the Bitcoins in circulation at that time. When the value dramatically reached $11,000 in December they were the first Bitcoin billionaires. From a millionaire to a Billionaire. That’s a huge jump we’ll have to say.
The Hottest Celebs are All Up for It
The advocates for Bitcoin keep increasing every other day. Many of the hottest celebrities have expressed their love and enthusiasm for cryptocurrency. We are talking about some of the A-listers from the Holly-world. The beautiful Gwyneth Paltrow is an advisor at Abra, a Bitcoin Wallet App. Who doesn’t love a woman with beauty and brains? Even Ashton Kutcher has invested in a Bitcoin start-up.