Posted By: Admin

On: August 13th 2017

Category: Entrepreneurship, Bitcoin, Finance

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12 THINGS YOU SHOULD KNOW ABOUT BITCOINS

1. BITCOIN IS BUILT ON A TECHNOLOGY KNOWN AS BLOCKCHAIN TECHNOLOGY.

2. THE FOUNDER/CREATOR OF BITCOIN IS KNOW AS SATOSHI NAKAMOTO.

3. THE TRUE IDENTITY OF BITCOINS CREATOR HAS NEVER BEEN CONFIRMED.

4. BITCOINS ORIGIN CAN BE TRACED TO 2008 IT WAS DEVELOPED AND DEPLOYED IN 2009.

5. BITCOINS (BLOCKCHAIN TECHNOLOGY) IS NOT HACKABLE - no fake bitcoins can be made and inserted into the bitcoin blockchain.

6. BITCOINS HAS GAINED SUPPORTED BY BIG FINANCIAL INSTITUTIONS AND FIDELITY INVESTMENT GROUPS.

7. IN 2013 HACKERS HACKED INTO A CRYPTOCURRENCY EXCHANGE WEBSITE (Mt. Gox, a Japanese exchange.) AND MADE AWAY WITH $460 000 000 WORTH OF BITCOINS.

8. CELEBRITIES WANT IN ON THE BITCOIN EXPLOSIONS:

Gwyneth Paltrow, Ashton Kutcher, Nas (a hip hop rapper) and Floyd Mayweather (Retired boxer) have all invested in Bitcoin startups.

9. WEALTHY TWINS

Cameron and Tyler Winklevoss the Harvard-educated twins who sued Mark Zuckerberg claiming that Facebook was based on an idea they'd had, invested $11 million into Bitcoin in 2013.

10. VERY EXPENCIVE PIZZA

ON May 22, 2010 A programmer bought a pizza fo 10 000 Bitcoins which is currently worth $43 000 000.00 Dollars.

11. BILLIONIARS WANT IN:

Warren Buffett has advised to stay away from bitcoins, mark Cuban has also criticised the cryptocurrency but has recently made huge investments in it.

12. VERY EXPENSIVE CAR

ELON MUSK founder of space x, solar city, and tesla pay-pal and zip 2 in 2013 his company Tesla sold a Tesla Model S for $100 000.00 in bitcoins. valued at $800 per bitcoin and above at the time. Currently that much of bitcoins would be valued at around $ 540 000.00

ALSO READ:

WHERE AND HOW DO I GET BITCOINS

WHERE AND HOW DO I SAVE MY BITCOINS AND CRYPTO CURRENCIES

WHAT DO I NEED TO KNOW TO START INVESTING IN BITCOINS AND CRYPTOCURRENCY

12 THINGS YOU SHOULD KNOW ABOUT BITCOINS

THE DANGERS OF BITCOIN

HOW DO I INVEST IN BITCOINS