We all know that Bitcoin was created in January 2009.It was the idea set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto.His Identity until now is still a mystery.Unlike fiat currency,bitcoin is created,distributed,traded,and stored with the use of a decentralized ledger system,known as a blockchain.A value of a single Bitcoin only cost $0.0008 but jump into $0.08 in 2010.Bitcoin surged to an all time high today after Tesla Inc said invested $1.5billion.The price exceeding $44,000 for the first time.
Some people are wondering why would some countries banned cryptocurrency.Well here the few reasons why:
1.Government and the financial institutions are not able to control or regulate it.
2.Crypto-currency market stands as a threat to their traditional banking institutions which is a fact being recognized by most of the governments.
3.Big risks are there in investing as huge investments are involved.
As our world continue to pursue on discovering more advance technology, there will be the time that payment and currency will be digital too. Cryptocurrency is volatile as of the moment but slowly reaching the point of being stable, in particular bitcoin. Big institues starts to invest money for long term use. As the cryptoworld will be known to others it will not take a long time for it to be used as a way to pay our taxes and to use it for our daily living.I hope you liked my article it was my first time to do it
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