Every day, you might be coming up with a news item about bitcoins. But there are still lots of rumors surrounding bitcoins. Thus, we are here to let you know about 10 things that everyone should definitely know about Bitcoins.
No matter if you are a Bitcoin investor or not, these 10 points will help you get lots of knowledge and understanding about Bitcoins.
Let the knowledge flow, and let’s know all about Bitcoins!
Bitcoin is not anonymous
Don’t get surprised by reading this statement. Trying to explain every bit about why bitcoin is not anonymous can take an entire year. The single thing that you need to know is that Bitcoins are not entirely anonymous because hackers, as well as government agencies, can easily track Bitcoins. Therefore, you can review different online platforms and video resources to get a proper knowledge about investing in Bitcoin you can read about it here
Different countries have different laws regarding bitcoin
Not all countries have the same rules and regulations related to the working of Bitcoins. Bitcoin is neither regulated by the national government nor it is supervised by any international organization. While some countries encourage the use of Bitcoins, certain countries have not given legal identity to bitcoin. Countries like Australia and Japan treat bitcoins like any other currency while countries like Lebanon and Jordan claim that Bitcoin is not legal and they don’t support the use of Bitcoins in these countries.
Bitcoin is limited
On the day Bitcoin was discovered, the founder said that only 21 million bitcoins will be mined. Most people don’t believe this fact, but this is the real truth. Only 21 Million bitcoin will remain in circulation. At present, almost 16 million Bitcoins are already in circulation.
Bitcoin is not the only cryptocurrency
Most people believe that Bitcoins and cryptocurrencies are the same. This is not the real truth. Bitcoin is a type of cryptocurrency no doubt, but there are other cryptocurrencies too in the market. For example, Ethereum is one of the other cryptocurrencies that is in huge demand by crypto traders and investors.
Bitcoin is very popular
As compared to other cryptocurrencies available in the market, Bitcoin is one of the most popular cryptocurrency. At present the value of 1 Bitcoin is $10,000. This means, if you want to make an investment in Bitcoins, you need to make a payment of $10,000. These days governments from countries like China and the United States are planning ways to invest in cryptocurrencies. There are different purposes for which Bitcoins are used. Many businesses have started accepting payment in Bitcoins. Thus, the popularity of Bitcoins is not limited to being just the first cryptocurrency. There are multiple uses of Bitcoins and people are using it every day making it much more popular.
No one knows the creator of Bitcoins
There are millions of conspiracy theories about Bitcoin. But, no one till data has come up with a feasible conclusion about Bitcoins. Most people say that a Japanese man named Satoshi Nakamoto is the creator of Bitcoin. A conspiracy theory in the United States says that Bitcoin was created and run by NSA. In addition to this, another theory explains that bitcoin was discovered by a person named Nick Szabo. He is a computer scientist and cryptographer. He has been vocal about the uses of Bitcoins for a long time. Thus, there are innumerable theories about the creator of Bitcoin but no one knows the real truth.
It is not just used in black market
Most people get hesitant about using Bitcoin as they feel that it is used in black marketing and illegal activities. There is not an ounce of reality in this statement. No doubt, Bitcoin is used in black market, but this does not mean that it is not legal. Many countries have legalized the use of money and many businesses are accepting payment in Bitcoin. As Bitcoin will gain popularity more and more people and businesses will continue using it. Thus, this is a completely false claim that Bitcoins are used just in Black market.
Are you surprised by all these facts about Bitcoin? Do you want to know more about Bitcoin? Let us know if you want to get additional information about Bitcoins.
2. Different countries regard Bitcoin differently