In 2013, the emergence of cryptocurrency came into the public eye and mine. However, at first glance it looked as if it was an asset that was not backed by anything that could display why there was value behind each Bitcoin. Four years later and with a price increase of 33,000% since 2009, I am again taking a much harder and deeper look into this cryptocurrency called Bitcoin.
Below are video and article discussing the benefits of Bitcoin and the Mining Company I have chosen to invest in which is MGT (McAfee Global Technologies).
WHAT IS BITCOIN?
Bitcoin is a revolutionary new technology that has disrupted the
centuries old financial system like what Amazon did to retail shopping or the internet did to how we interact however the blockchain is doing this on a much more immense scale.
Now there’s bitcoin and blockchain. Bitcoin It is
a digital currency that allows anyone to transfer any amount of money anywhere
around the world within minutes and with little to no transaction fees. It’s
done thru a revolutionary new technology called blockchain.
Blockchain is a
decentralized open source peer to peer network that publically keeps track of
records of previous transactions that are verified on a public and transparent distributed
ledger. This ledger is immutably (meaning it can’t be changed), and unforgeable
and is secured through cryptography that timestamps batches of transactions
that must be agreed upon by most of the participants on the network in order to
make it onto the ledger. A bitcoin transaction is validated by bitcoin miners.
These miners solve a complex equation that uses massive amounts of computing
power, also called “proof of work”. Once solved and added to the ledger or
chain a new bitcoin is added to the ecosystem and rewarded to the miner, this
is the incentive for the miners to validate the transaction as quickly as
possible. This is how new bitcoins are introduced into the ecosystem. Now,
unlike central banks that have unlimited power to print money, the bitcoin network
fixed this issue by capping the total amount of coins ever to be issued to only
21 million coins.
MEDIABitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says Click Here
Legendary Fund Manager Mike Novogratz discussing Bitcoin Click Here Well known and most respected expert on Bitcoin- Andreas Antonopoulos Pt 1: Click Here
John Mcafee challenges Jamie Dimon on Bitcoin: Click Here
Fundstrat Tom Lee Bitcoin $25K: Click Here
Top Wall Street strategist expects bitcoin to be the best asset through year-end: Click Here
Bitcoin Fireside Chat with Chamath Palihapitiya of Social Capital - Coinsumm.it: Click Here
Bitcoin Fireside Chat with Marc Andreessen and Balaji Srinivasan - Coinsumm.it: Click Here
Roger Ver says Bitcoin and Ethereum is stronger then ever: Click Here
How the blockchain is changing money and business | Don Tapscott: Click Here
A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever: Click Here