9 Lessons Learned:

The Stories of Bitcoin

Bitcoin has been making moves on the web for some time now but even though it’s possible to come across people who are not informed about the new age digital currency. This crypto currency is autonomous from the traditional banking that people have come to know. There are many crypto currencies that are in circulation but Bitcoin has made its mark as its considered to be the best known in the world. Bitcoin transactions are based on computer networks solving complex mathematical functions to verify and record the details of each and every transaction that happens.

Another reason why investing in Bitcoin a is attractive is because there is no central bank has the authority to govern the supply of the cryptocurrency. A lot of factors in an economy will drive low inflation on traditional currencies in an economy but If your investment is with Bitcoin you need not worry about low inflation because Bitcoin mining is limited to twenty one million units only, its right to say that new Bitcoins being released into the market are decreasing. Different people have had different experiences with Bitcoin and their stories are worth getting to know. In the early days of its inception buying a bitcoin cost you pennies but today you have to part with over six thousand dollars for the same.

Erik Finman is one of the youngest Bitcoin millionaires after he took one thousand dollars his grandmother offered and invested in the block chain technology, two years later the value would appreciate to one hundred thousand dollars. The young man would later drop out of school to develop his own company that would later find a buyer who offered three hundred Bitcoins for the company . 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.

While some people have gone off to make mouthwatering amounts of money through Bitcoin some have experienced the complete opposite. An early adopter of the currency Jered Kenna had a bad experience after hackers went through his email and got access to his wallet and stole eight hundred Bitcoins, however that did not hold him back because through cryptocurrency the man redeemed himself. 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.

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