Just a few years back, Bitcoin market was not very popularly, but as the people begin to earn the pretty little secret was soon out. Most of us today know what bit coins are and what all it is about Bitcoin trading. The Bitcoin market is highly unpredictable but still, good bettors are reaping extreme profits with strategically investment. Seeking these many new entrants come to the market daily but the conversion rate is not as expected. This may soon improve as more and more people would become adapt to this virtual; market and reap amazing profits.
Like every other market, Bitcoin market has its own little secrets. While most of them are related to the efficient trading, there are certain secrets that are simply mind-bending. And trust us, you as a Bitcoin bettor would not like to know this. Yes, here are 5 Secrets You Will Not Want To Know About Bitcoin:
Bitcoin is imaginary:
Being a Bitcoin bettor you must be aware of the fact that Bitcoin trading uses a unique currency that is Bitcoin. Now, unlike any other payment network like Visa or PayPal, Bitcoin does not use any other form of money like Indian Rupees or US Dollars. So basically when you invest in Bitcoins you are investing in something that is not available in physical form. Yes, BITCOINS ARE IMAGINARY!!
Bitcoin system is decentralized:
Yes, there is no managing authority taking care of Bitcoin market. Oh yes, this is another shocking revelation that there no one for you to complain or ask for any suggestions. The systems unlike any other payment system work as a decentralized market. The transactions are done on a peer to peer basis and there are hundreds and thousands of computers attached to each other through the network in the world.
Bitcoin Startups have already earned millions
Seeking the lucrative opportunity available in the market, many Bitcoin startups have already earned in millions. Bitpay, a startup that started in 2015 earned $2 million at the end of the financial year. Bitpay processes Bitcoin payments on behalf of the vendors. Another startup, Coinbase that helps people sell and buy Bitcoins raised #5 million and another one, named Circle earned $9 million.
Who created Bitcoin?
To be honest, nobody knows that. A man named “Satoshi Nakamoto” is known to have created the currency. It appears to be a Japanese name but there aren’t any personal details. No one has seen this man/woman whoever he/she is. He later reduced his interaction with other community members. His last communication was in 2011.
However, before leaving the arena, Satoshi Nakamoto passed his powers to a developer Gavin Andresen, who currently is the developer’s head.
“Satoshi Nakamoto” will be a multiple times millionaire now:
Yes, although we do not know who he is but if he is the one who discovered Bitcoin he will be an extremely wealthy man to date. In the first two-year, there were millions of Bitcoins in the market. And “Satoshi Nakamoto” owned hundred and thousands of them. And now when the market has shown so much favoritism for Bitcoins, the owners have become so wealthy. Especially “Satoshi Nakamoto” because he has most of them.
Did you know all this about Bitcoin, we bet not. So, now when you know does it all seems more exciting or make you worry about your already made investments. Do let us know in the comment section.
Guest Posted By: Hitesh P. is a writer, blogger, digital marketing and trend analyst. He works as a marketing executive at a company that offers B2B marketing services. Monitoring trends and extracting what works best for the industry and what doesn’t is what ticks her interest.