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Bitcoin – A Fortune on The Hard Drive

Bitcoin – A Fortune on The Hard Drive

The digital currency Bitcoin, known to insiders a year ago, is a party theme. Many want to be there, everyone wants to get rich. Almost everyone knows stories like that of pizza paid with Bitcoin s, which would be worth a fortune in today’s prices. Or the Englishman who suspects his hard drive filled with Bitcoin at the local dump and wants to dig for it there. And even though the price has gone crazy, some of the followers believe that this was just the beginning.

First twenty times, then almost halved

The value of Bitcoin peaked in 2017 from around 1,014 to around 20,000 US dollars, and Bitcoin has only been around since 2009. In early 2011, the price was 1 USD. For comparison: The value of the share of the most expensive company in the world, Apple, has “only” grown four hundred times since the IPO in 1980, including dividends.

Bitcoins are the new hype. Investors expect high profits from digital money. Is it really worth investing in Bitcoin? Is it serious at all? How does internet money work? Where can you get it?

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The ultimate tip? Or bottomless crash?

The digital currency Bitcoin, known to insiders a year ago, is a party theme. Many want to be there, everyone wants to get rich. Almost everyone knows stories like that of pizza paid with Bitcoin s, which would be worth a fortune in today’s prices. Or the Englishman who suspects his hard drive filled with Bitcoin at the local dump and wants to dig for it there. And even though the price has gone crazy, some of the followers believe that this was just the beginning.

First twenty times, then almost halved

The value of Bitcoin peaked in 2017 from around 1,014 to around 20,000 US dollars, and Bitcoin has only been around since 2009. In early 2011, the price was 1 USD. For comparison: The value of the share of the most expensive company in the world, Apple, has “only” grown four hundred times since the IPO in 1980, including dividends.

Have you already bought Bitcoins?

Have you already bought Bitcoin s and bought a digital wallet? Or have you registered on a platform? Have you ever paid with Bitcoin s? Did that work out well or did you encounter difficulties? We would be happy if you would share your experience with Bitcoin or other cryptocurrencies. Weed Profit System treats your submissions confidentially.

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The digital coin

The name Bitcoin is made up of the word for the smallest digital unit, the bit, and the English word coin for coin. A certain Satoshi Nakamoto is responsible as the inventor – although it is still not clear which head is behind it, perhaps it is a whole group.

1 Bitcoin was briefly worth around $ 20,000 in December 2017.

Of Bitcoin’s just BTC, there are neither coins nor notes; they exist only virtually, as a digital string. Even if they like to be compared to gold: there is no real value behind them. New Bitcoin s is created by the users themselves using mathematical methods. The balances and payments are managed in a decentralized network, the blockchain. In order to book a transfer with Bitcoin s, a complicated calculation task has to be solved. The first to do so will get Bitcoin s as a reward. One speaks of mining, in German the mining of Bitcoin – at this point the comparison with gold fits.

The Bitcoin as a climate killer

In the early days of the virtual currency, the PC at home was sufficient for mining. Today, powerful machines are required to deal with the increasingly complex calculations. In an interview with the Handelsblatt, the Bundesbank points out calculations according to which a single Bitcoin transaction corresponds to the monthly electricity consumption of a single-family household in Germany. Environmentally friendly is different.

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Financial industry gets involved

That Bitcoin has raised so much is not only due to the gold-digging mood among investors, but also because of the interest of the financial industry. Hedge funds invest, two US futures exchanges have introduced Internet currency futures that allow speculators to bet on rising and falling prices.

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