To capture Bitcoin’s bottom, more analysis is needed than just its price. One of the most reliable indicators of historical …
The virtual currency called Bitcoin is not too strange, but do you really understand what Bitcoin virtual currency is? Recently, the financial world has continued to fluctuate unpredictably with the huge increase in the price of Bitcoin (BTC), making Bitcoin mining PCs suddenly sought after and I have a top article on PC machines. Bitcoin hunting.
If you are picturing in your head that Bitcoin is a large yellow coin with a big B like the usual illustrations, that’s really not it! It can be said that Bitcoin has no specific shape at all. The above digital currency is actually an open source software that was born more than a decade ago – ie 2009. Bitcoin is said to be the invention of a mysterious figure, named Satoshi Nakamoto . And this character’s name is also given to the smallest unit of the Bitcoin-Satoshi coin.
Because it is an open source software, this coin works mainly on the internet environment. The emergence of Bitcoins is based on deciphering algorithms and giving answers, also known as Bitcoin mining. A special thing is that any of us can participate in ‘mining’, but this is quite complicated, requiring computers with ‘terrible’ configuration as well as really high ‘digger’ technique.
Another fact about Bitcoin you need to know is that this currency is limited to 21 million Bitcoins. With this amount, many experts predict that Bitcoin will be fully mined by 2040. And because of the above limit, the value of this virtual currency also goes up and down based on the scarcity of Bitcoin.
Despite being called money, is Bitcoin really considered ordinary currency? The answer is both yes and no because this depends on the laws and regulations in different countries. In some countries, Bitcoin is still considered money and is used for transactions like any other currency.
Although Bitcoin is not the only digital currency to date, it is arguably the most attractive to investors. The fact that this coin has become more and more prominent and its value has been hitting massive levels in the past few days can be traced in the first place from the fundamental characteristics of Bitcoin.
If current types of cash are issued by the Government as well as controlled by State agencies, Bitcoin is quite ‘free’, not bound by any organization or individual. Bitcoin exchanges are also done directly without going through any financial intermediaries.
Thanks to this attribute, individuals or businesses are quite profitable because they will certainly not lose any additional fees for transferring ‘huge’ amounts of money to financial intermediaries.
Bitcoin is being evaluated as a highly secure virtual currency. Problems such as having a bank account hacked, being robbed or having money stolen, are unlikely to happen with this digital currency. Bitcoin is developed based on Blockchain technology, also known as blockchain technology.
Transactions and data recorded on the Blockchain are immutable and cannot be forged. So it is almost impossible to steal Bitcoin coins by changing or falsifying transaction information until now, or if you want, in theory you have to use a quantum computer,
And another reason why this coin has received the attention of many people in recent days is the trust of many large companies. After the announcement that billionaire Elon Musk’s Tesla invested $ 1.5 billion in the Bitcoin market, we have witnessed a continuous increase in the price of this coin.
In addition to Tesla, we can also highlight big companies from other technology circles such as Nvidia, IBM. So, in the future, if Tesla completes its plan to allow payments in Bitcoin, this coin will be even hotter than ever!
Is Bitcoin Investment Risky?
When it comes to the word ‘investment’, we definitely have to accept that there is an element of risk in it, the higher the risk, the more profit. And Bitcoin is considered as an investment channel that brings high returns for players.
The risk of Bitcoin comes quite a lot from the problem of price fluctuations of this currency. It can be seen that the price of Bitcoin is constantly fluctuating, sometimes increasing, sometimes decreasing, but it is quite difficult to grasp and predict.
For example, according to the recent line of events, only after the words of billionaire Elson Musk, the Bitcoin price on the rise again “turned around” and dropped quite a bit. Therefore, investors must be very careful when investing in this type to avoid Bitcoin bubbles, causing great losses.
Besides, the legal regulation of Bitcoin currency is not really clear and uniform for every investor to grasp. Currently, the US is the country with the most regulations for this currency. In this country alone, there are many mixed opinions about the currency.
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