What you need to know about bitcoins
Have you ever wondered about the history of cryptocurrency and the typical bitcoin, are you interested in the roots of the coin and how it gained world fame? Here is a brief but detailed history
It was discovered back in 2009 by unknown web assailants through an open-source software where anyone can inspect and improve without intermediary which proved different from other cryptocurrency forms.
Cryptocurrency does not involve notes and physical coins but rather Blockchain technology.
How cryptocurrency gets value
~It is scarce and accepted by others as a form of payment it has all the features of money. The owner indicated that they will only be a 21million bitcoins available. Just like Gold mining you need sophisticated mathematical mining methods to acquire a new bitcoin, these are puzzles that require high computing power, only those with resources can be able to generate a new unique coin.
When the demand for bitcoin increases its price also rises and vice versa. The wide acceptance of bitcoin as a mode of payment for retail and big companies has tremendously risen.
Bitcoin is still a work in progress and more security and software developmental revolutions, are ongoing to suit the needs of the 21st century .bitcoin