What is Bitcoin

Bitcoin is a peer to peer electronic cash system founded by an anonymous person who calls himself “satoshi nakamoto” and got released in January 2009.

The main aim for bitcoin is to create a financial asset where no bank or any other financial institution has control over.  This is important because in early 2009 there was a financial chaos going on all around the world. The whole system was going to collapse in 2008 but the Central Banks didn’t let that happen. Instead, they picked Lehmann Brothers as a victim. LB filed for bankruptcy in September 2008.

And through all these mess one anonymous person came up with this bright idea: Bitcoin.

The beautiful thing about this new (It is 10 years old, not that new) technology is that nobody and no-one can steal your funds from you no matter how hard they try. (Unless they use the $5 wrench method) This technology is called blockchain which is based on cryptography which is based on pure math and nobody can beat math.

You can have a bank account and put your savings there, banks can go bankrupt. You lose your money. You can buy gold and store it at home, thieves can steal your gold. You lose your money. You can hire a bank safe… Guess what, believe it or not bank employees can rob you and you can’t prove otherwise. In the current financial system is formed by thieves and there are everywhere.

I know what you are thinking now. What if Bitcoin is also one of those thieves which is after your money? That is a valid concern and I’ve thought about it for nearly 5 years. Before I made my heavy purchases starting from 2016.

Back in early days of bitcoin, almost nobody cared about it. Most people didn’t believed  in it. I wasn’t there in 2010 but I was there in 2013. I was one of those people for a while.

Even Satoshi Nakamoto, the founder of bitcoin wasn’t sure if it is going to be big. When people asked about bitcoin, he told them: 

“It might make sense just to get some Bitcoin in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.” -satoshi nakamoto

And it did.

Take a look at this guy for example:

This man is a hero among crypto believers. He is huge a gold-silver investor and he doesn’t believe in the current financial system. Guess what he said when he found out about bitcoin 8 years ago:

You probably don’t want to hear this in a Silver channel but it is amazing stuff.

You can send money by clicking the button on your ipad without having to deal with any banks! ” -davincij15

You might find it a crazy idea to invest in bitcoin. You may not find it worthy for your hard earned cash. What I only ask is, just buy $100 worth of bitcoins. Maybe and maybe…

It might come in handy one day!

  • bitcoinBitcoin (BTC) $ 17,728.54 5.59%
  • ethereumEthereum (ETH) $ 543.12 7.15%
  • rippleXRP (XRP) $ 0.631564 16.92%
  • tetherTether (USDT) $ 1.00 0.04%
  • chainlinkChainlink (LINK) $ 13.23 7.49%
  • bitcoin-cashBitcoin Cash (BCH) $ 279.50 6.27%
  • cardanoCardano (ADA) $ 0.163531 20.73%
  • litecoinLitecoin (LTC) $ 73.35 7.44%
  • polkadotPolkadot (DOT) $ 4.91 5.01%
  • stellarStellar (XLM) $ 0.201450 6.63%