Bitcoin is a tough bargain; it has seen many dark and bright days. When it was first introduced it came with a mysterious aura of who, why, what, when kind of a situation, but almost all the questions were answered except the one, that we will discuss later in this blog. But, before that as an investor, you have to get your facts right and understand how the timeline of bitcoin has been giving it the recognition it has today.
When bitcoin was first introduced many got into the discussion of what will become of it, some said it had a bright future and some said there is no moving forward. Well, there were difficult times for bitcoins, and some really good times, that now, have taken the first position in the cryptocurrency list. If you are interested in investing with bitcoin then you can visit BitcoinsCompass, this website will help you to trade instantly and introduce you to different opportunities.
But before doing anything that will involve your money you need to know everything you can gather on the topic. Moving on from that here are a few things that you need to know as an investor of Bitcoin.
The top 5 Facts on the History of Bitcoin
The main reason why people do not want to invest in bitcoins is that they know very less about this technology and sometimes they are just scared. Well, that is not how it should be, you must have all the necessary details about bitcoin and understand when is the best time for investment. We will help you build up the knowledge that you need for having a strong feeling of investment.
1. The founder of bitcoin is still missing
There are many theories on who actually is the founder. Well, as the name Satoshi Nakamoto had come up everyone initially thought it was just one person who had invested and released the white paper on bitcoins. A man called Satoshi Nakamoto an American-Japanese personality was pointed the finger at but later he had declared that he had nothing to do with this. There was another man who received bitcoin for the first time, but now he is dead.
Amongst the confusion, an Australian businessman Craig Wright claimed to be the person who has introduced Bitcoin in 2016. But, later on, more investigation he was found to be a fraud. He and his partner tried to pump up a forged version of Bitcoin known as the Bitcoin cash. This resulted in many people who trusted them, lost their hard-earned money.
Some say that it can be a combination of the four Asian companies Samsung, Toshiba, Nakamichi, and Motorola. They together used their first initials to build up Sa-Toshi Naka-Moto.
2. Bitcoin is both traceable and untraceable
While bitcoin is kept publicly in a digital ledger, you can track where your money went through a blockchain. Once anyone has the link, they can open your ledger and check where your money has been. If the bitcoin owners want to have an even secure transaction, they can use VPNs as the content is over the internet so it can be manipulated. The reason it can not be traced is that when you make a transaction you will be allowed to stay anonymous.
3. Losing the private key will mean losing your property access
Unlink the central banks, who clear out their safes to take back the safe, bitcoin will not do that. When you will be provided with a private key keeping it safe is your concern. Suppose you lose this key, you will never be able to access your account ever again, and the money will be lost in the blockchain network.
4. Bitcoins are not issued by banks
Bitcoin doesn’t fall under any regulatory body; hence it is issued by engineers. These people encrypt the data using cryptography and then provide you with the virtual asset. These coins are designed in such a way that it is unbackable.
5. There are only a few bitcoins left to go
The supply of bitcoin is finite. Currently, there are 16.3 million when there can only 21 million.
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