Bitcoin has been on the media for a long time but it’s possible to come across a person who is not familiar with it. The currency stands out due to its autonomy from traditional banking. There are many form of digital currency today but Bitcoin is the best known. Bitcoin transactions are based on computer networks solving complex mathematical functions to verify and record the details of each and every transaction that happens.
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. 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.
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. Finman would later drop out of school and come up with a company of his own which he sold for three hundred Bitcoins elevating him even higher. Another amazing story is that of one Kristoffer Koch who invested twenty seven dollars in Bitcoin that would later be worth eight hundred and eighty six thousand dollars, the funny thing is he completely forgot about his investments until he saw Bitcoin on the news later on.
With success stories also comes some loss stories as well. One of the loss stories is that of Jered Kenna who was an early adopter of Bitcoin, he bought the coins when they cost twenty cents per coin, however hackers got to his email and got access to his wallet and erased his computer taking with them 800 coins. Laszlo Hanyecz paid a guy to deliver pizza in exchange for ten thousand bitcoins which at the time were worth thirty dollars but today the coins have appreciated to eighty two million US dollars, you have to let that sink in.