Christopher Koch, a Norwegian citizen, has long dreamed of buying a luxury home. In a strange way his dream has come true. The coach has succeeded in his dream by investing only 24 US dollars. Christopher Koch, a 29-year-old engineer, bought 5,000 bitcoins worth 24 four years ago. The price of that 14 bitcoin has risen to 690,000 in the last four years. But what is this bitcoin? It is a digital medium of online transactions from independent customer to customer. Bitcoin is a cryptocurrency that is transacted through open source cryptographic protocols. This type of virtual currency transaction does not require any type of financial institution, regulatory institution.
Lucky Christopher Koch said that he bought Bitcoin in 2009 for 24 as a hobby. Then he forgot about it. A few days ago, when he heard the sudden rise in the price of Bitcoin, he remembered the old property. But he forgot his old password four years ago. When he remembers the password after trying for a whole day, he is like a banana plant with swollen fingers.
Bitcoin is now growing rapidly in many parts of the world. Three young entrepreneurs recently launched the first ATM booth in Vancouver, Canada last Tuesday to facilitate bitcoin transactions. Market analysts say the introduction of Bitcoin-based automated calculators (ATMs) has added a new dimension to transactions.
The idea is that it will take Bitcoin further to establish itself as a currency. Germany is the first country in the world to declare Bitcoin as a private currency this year. Bitcoin is now widely admired in San Francisco, Berlin and Argentina. Online companies are also now starting to use virtual currency. The US and Canadian governments are also considering registering Bitcoin customers to curb drug, smuggling, illicit arms trade and other illegal uses.
Bitcoin does not have these problems even if the transaction requires a certain amount of money through MasterCard, Visa Card or any other means. Bitcoin can be purchased from the website.
In some countries, including the United States and Canada, it is possible to make purchases through Bitcoin in online transactions.
Using Bitcoin is as simple as sending a message on a regular e-mail or mobile phone.
In the current world, the exchange rate of 1 bitcoin is $ 20000 dollars
History of Bitcoin
Bitcoin was invented by computer scientist Satoshi Nakamoto in 2006. This is his pseudonym Bitcoin can be easily bought and sold online using Bitcoin, which is known as peer-to-peer transaction or online transaction from an independent customer to a customer. Bitcoin transactions are protected by a server called Bitcoin Miner. When Bitcoin is transacted between multiple computers or smartphones connected to a peer-to-peer communication system, its central server updates the user's laser.
The use of Bitcoin in drug smuggling and money laundering has increased alarmingly in addition to legal product transactions as Bitcoin transactions cannot be easily controlled. Despite its popularity as a digital currency, it has been criticized by many for its sharp fluctuations in price against various international currencies, its scarcity, and its limited use in business. U.S. intelligence recently shut down an online market called Silk Road, claiming to have recovered the world's largest bitcoin. However, this virtual currency system is being recognized in many countries
@MarcDeMesel @btcfork @Telesfor @Paigepotts@georgedonnelly @RogerVer