Amazing Stories about Bitcoin

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. This crypto currency is very unique and is not affected by traditional forms of banking. Apart from Bitcoin there are other types of digital currencies that you can invest in but the former is the considered to be the best known world over. Bitcoin transactions are very secure because computer networks have to solve very complex mathematical functions so as to verify a transaction and record it, every bitcoin transition that ever took place goes down in record hence fraud is unheard of here.

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. Bitcoin has impacted people’s lives differently and some stories will leave you in awe. 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. 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. Jered Kenna’s story is one that will have you feeling for the man, he was an early adopter and got hold of his coins when they cost 20 cents but unfortunately hackers would get to his email and get the access to his wallet and disappeared with 800 of the coins and deleting his computer. 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.