WHAT IS BITCOIN?
DEFINITION OF BITCOIN:
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies, all about bitcoin investment
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name, Satoshi Nakamoto, and released as open-source softwarein 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments,but with recednt developments Most banks and Central Banks are coming on board and planing on adopting cryptocurrency and blockchain technology. Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
How Does Bitcoin Work?
Bitcoin and other cryptocurrencies operate on a technology called “blockchain.” You may have heard of blockchain referred to as a “distributed, decentralized, public ledger,” but the technology is actually easier to understand than that definition sounds. At its most basic level, blockchain is literally a chain of blocks — only not in the traditional sense of those words. When we say the words “block” and “chain” in this context, we are actually talking about digital information (the “block”) stored in an online database (the “chain”). Here’s how it works.
You have all these people, all over the world, who have bitcoin. According to a 2017 study by the Cambridge Centre for Alternative Finance, the number may be as many as 5.9 million. Let’s say one of those 5.9 million people wants to spend one or many of their Bitcoin. This is where blockchain comes in.
With other public recorders of information, like the Securities Exchange Commission (SEC), Wikipedia, or your local library, there’s someone in charge of vetting new data entries. With blockchain, however, that job is left up to a network of computers. These networks often consist of thousands (or in the case of Bitcoin, about 5 million) computers spread across the globe. When you go to make a purchase using bitcoin, that network of computers rushes to check that your transaction happened in the way you said it did. They confirm the details of the purchase, including the transaction’s time, dollar amount, and participants.
When consumers make purchases using the U.S. dollar, banks and credit card companies verify the accuracy of those transactions. Bitcoin performs this same function without these institutions using a system called “hashing.” When one person pays another for goods using bitcoin, computers on the bitcoin blockchain rush to check that your transaction is accurate. In order to add new transactions to the blockchain, a computer must solve a complex mathematical problem, called a “hash.”
Solving a hash takes computers, and even supercomputers, an average of 10 minutes. During that time, computers also check the accuracy of new transactions on the bitcoin blockchain. If a computer is the first to solve a hash, they store newly-made transactions as a block on the blockchain, at which point they become unalterable.
How is Bitcoin Created?
When computers successfully add a block to the blockchain, they are rewarded with cryptocurrency. Earlier we discussed how the amount of bitcoin produced every 10 minutes cuts in half every four years. At the time of writing, computers receive 12.5 bitcoin, or approximately $48,625 USD, for each block that they add to the blockchain.
If the tune of $48,625 sounds enticing, be warned that the process of adding blocks to the blockchain, what the cryptocurrency world calls “mining,” is not easy. In fact, the odds of solving one of these problems on the Bitcoin network are about one in seven trillion (12 zeros). To put that number in perspective, the odds of winning the jackpot lottery are one in 13 million. To solve complex math problems at those odds, computers must run programs that cost them significant amounts of power, energy, and money.
Similar to winning the lottery, solving hashes essentially comes down to chance — but there are ways to increase your odds of winning in both contests. With bitcoin, arriving at the right answer before another miner has almost everything to do with how fast your computer can produce hashes. Just a decade ago, bitcoin mining could be performed competitively on normal desktop computers.
Over time, however, miners realized that graphics cards commonly used for video games were more effective at mining than desktops and graphics processing units (GPU) came to dominate the game. In 2013, bitcoin miners began to use computers designed specifically for mining cryptocurrency as efficiently as possible, called Application-Specific Integrated Circuits (ASIC). These can run from $500 to the tens of thousands.
Today, bitcoin mining is so competitive that it can only be done profitably with the most up-to-date ASICs. When using desktop computers, GPUs, or older models of ASICs, the cost of energy consumption actually exceeds the revenue generated. Even with the newest unit at your disposal, one computer is rarely enough to compete with what miners call “mining pools.”
A mining pool is a group of miners who combine their computing power and split the mined bitcoin between participants. A disproportionately large number of blocks are mined by pools rather than by individual miners. In July 2017, mining pools and companies represented roughly 80% to 90% of the computing power on the bitcoin network.
In the real world, the power from the millions of computers mining on the bitcoin network is close to what Denmark consumes annually. All of that energy costs money and according to a recent study from research company Elite Fixtures, the cost of mining a single bitcoin varies drastically by location, from just $531 to a staggering $26,170. Based on average utility costs in the United States, that figure is closer to $4,758.
Cryptocurrency bitcoin’s price has dropped in 2018 after reaching record-setting price levels in 2017. However, even seasoned investors may be reluctant to get involved in direct investments relating to cryptocurrencies, or digital currencies, since they’re usually highly speculative, the market is largely unregulated, and storing them safely can be challenging. An over-the-counter trust focusing on bitcoin, in particular, A Legit Bitcoin Investment from Alphaprime.cash, can help simplify the process, but it also comes with advantages, such as a high profit and Maximum ROI with the application of defensive approach to Day trading of cryptocurrencies and bitcoin investments..
More About the Bitcoin Investment With Alphaprime
The Bitcoin Investment on Alphaprime platform is a very Lucrative form of investment. Alphaprime Investments calls it a traditional investment vehicle with shares titled in the investor’s name. Furthermore Bitcoin Investment on Alphaprime is the best since your funds are secure and must yield maximum profits within 24 hours.
Alphaprime Bitcoin Investment includes Forex Trading , Day trading of cryptocurrency, Real estate investment and Diamond Plan. Voted as the Most Trusted Bitcoin Investment site, Alphaprime is by far the most popular because you can invest in bitcoin directly with USD and get paid within 24 hours.
As of October 2018, Alphaprime had $1.34 billion assets under management (AUM) and 2.06 million shares outstanding. The Bitcoin Investment requires a minimum investment of $100 .
Storing cryptocurrency safely is notoriously challenging, and the company assures investors that the Bitcoin Investment assets “are safeguarded by a robust security system that uses industry-leading security standards.”
Questions about the value of bitcoins as an investment will likely differ depending on who you ask.
Those with a vision of a fully-distributed future in which the lack of a centralized overseer becomes key to an asset’s value will tell you that, yes, bitcoins are poised to become only more valuable in the future. Others who put more value in the traditional trust afforded by banks and government institutions would likely steer you away from bitcoins as an investment.
While determining how “good” any investment will be is ultimately a guessing game, there are some tried and true ways to determine an asset’s worth. One of the simplest ways to think about bitcoin as an investment is to consider its rise against the U.S. dollar. Recently, bitcoin prices eclipsed $7,000 and have reached beyond $8,500. If you had invested in the digital currency when its worth was still hovering around $150 just a few years ago, or when it was first introduced in 2009 and worth nothing against the dollar, you would probably be convinced that it made for a good investment.
Furthermore, an underpinning concept behind Bitcoin is that there will only ever be 21,000,000 tokens, meaning that it may stay consistently valuable or increase in value relative to other types of currency which can be printed endlessly. Other reasons that the asset seems like a good investment include its growing popularity, network effects, security, immutability and status as the first ever in a growing world of digital currencies.
That being said, there is at least one significant argument for limiting bitcoins to a small portion of your portfolio at the most. Bitcoin is known for stark jumps in price, high peaks and deep valleys that would make it difficult to have confidence in the asset as a long-term money maker that can be depended on. Tying every dime you have to such a volatile asset would be imprudent. A good rule to follow is to invest your bitcoin with a Legit Bitcoin Investment Site
Is it Safe to Invest in Bitcoin in 2019? Should I Invest in Bitcoin?
Yes. A VERY BIG YES one, but good . In fact 2019 is the year bitcoin investment should be tagged a good investment.
There are lots of good reasons to invest in bitcoin and I’m saying it’s a good investment because I expect bitcoin’s price will go up in 2019 up to $10,000 and from historical data available it will hit an astronomical high of $100,000 by 2020. It may go down. But bitcoin has several things going for it that many other types of investments don’t, even other cryptocurrencies that may offer bigger upside. My personal investing experience comes mostly from real estate and owning small stakes in private companies, totally different types of investing than cryptocurrency. Take what I say from the viewpoint of somebody with much more patience and tolerance for risk and effort than your average crypto cat but somebody who doesn’t trade or get caught up in the daily price swings this is because all my bitcoin investments are being handled by the Most Trusted Crypto Company
Top Five Reasons You Should Invest in Bitcoin in 2019.
Most people you talk to about cryptocurrencies today believe there’s no more opportunity left; according to them, the ship already left the harbor, without them. There may well be an inkling of truth in that, but there are still more opportunities lying ahead. The dust hasn’t yet settled on this evolving money revolution.
If you are hearing about Bitcoin for the first time, simple Google “Bitcoin Success stories” and read about a man who spent $3000 in October 2010 to buy 20,000 at $0.15 each. Come 2013 and Bitcoin made headlines, and the price was $350 (2000 times more than he had spent). He sold 2000 Bitcoin at that price and later sold 2000 more when the price hit $800 to make $2.3 million. He later made many other sell-offs to eventually make $25 million from the initial investment of $3,000. However, every story has two sides. There are also many stories about personal Bitcoin disasters. Read the story of 32-year-old James Howell who accidentally discarded his hard drive with 7,500 Bitcoins; that would be worth $56 million today. Read about Lily Allen turned down a payment of 100,000 Bitcoins for a streaming performance gig on the game second life.
Promising Lucrative Digital Asset
Whether to invest in Bitcoin in 2019 is a hot topic; all the noise surrounding cryptocurrencies could easily cloud your judgment on whether to try this lucrative digital asset. Being such a young asset, the market is volatile, filled with stories of extreme success or a massive failure. The issue at hand, therefore, is about making an educated decision based on timing, probability and whether the investment profile fits you. With Alphaprime.cash you are covered because all your investments are prone to make maximum profits.
Invest in Bitcoin Now
Bitcoin’s and other cryptocurrency fluctuations have been on the headlines recently and there are many discussions on whether investing in them is worth the ink it’s written on in 2019. Bitcoin is trading at $8104.00 USD at the time of writing amid speculation the bulls are finally here. Here, we reveal at least five reasons you should dive into the world of cryptocurrency investment in 2019.
1. Better Cryptocurrency Regulations
The unprecedented rise on cryptocurrency has seen the introduction of regulations that are taking shape. Introducing regulations reduces uncertainty to give a significant boost to trading activities and coin prices.
Tighter regulations are helping to tackle crypto scams that hitherto reduced investment desirability; new coins and investments have certain criteria to adhere to. The presence of regulations has helped to calm the fears of potential investors and offering a better foundation for future investments.
2. Widespread Blockchain Adoption
There are over 1600 cryptocurrencies but most media attention has focused on Bitcoin, the first and most successful digital asset so far. Bitcoin’s underlying technology, blockchain, is growing from strength to strength and news about the Distributed Ledger Technology offers more exciting reading than the daily coin fluctuations.
Thousands of global organizations are investing time and resources into blockchain and cryptocurrency research and studying how to introduce cryptocurrency into their already successful businesses. This only works to further cement the trending opinion that blockchain and cryptocurrencies are becoming an integral part of a future global business. The recent adoption of crypto payments by AT&T with a partnership with Bitpay shows the great acceptance of bitcoin by giant corporations.
3. The Simplest Form of Investment
Thinking about cryptocurrency investment for the first time may look like such a daunting prospect, especially in the absence of investment advice. The good news is that times have changed now and there is more information than you might consume and there are fewer entry barriers than before.
For instance, Coinbase, the leading digital wallet, has over 10 million investors who can buy Bitcoin, Ethereum, Litecoin and Bitcoin Cash at the snap of a finger. There are many market investment funds that give potential investors easy access to different cryptocurrencies. With Alphaprime.cash There has never been a time when investing in cryptocurrencies was so straightforward for anyone who didn’t know where to start, alphaprime makes bitcoin investment simple and stress free.
4. Availability of Lucrative Alternatives
Bitcoin has definitely dominated the cryptocurrency market for about a decade now and it’s probably why it’s the most recognized digital asset. However, this has made it the world’s largest cryptocurrency, bitcoin is King and has come to dominate the crypto market.
Today’s crypto investor can expand their horizon and reap equally big returns by expanding their horizon to other emerging alt-coins like Ethereum or Litecoin, two coins showing great potential by investing in Day trading of cryptocurrencies in the Alphaprime Investment Platform. If you will make any investment, take note that any kind of investment is a risky venture and, as a rule of the thumb, you can only invest the amount of money you prepared for the investment portfolio, The road to crypto investment has an amount of risk, just like every other investment out there, and should, therefore, form a wider part of a varied investment portfolio.
5. Cryptocurrencies Showing a Promising Future
The best way to make an investment is to focus on its long-term viability. Investors who become obsessed with a project’s short-term analysis and small price variations end up making wrong investment decisions. You don’t want to panic and dispose of your investment at lower prices when you should have held on longer until the prices recover.
The cryptocurrency market is still volatile and price fluctuations will continue, with some experiencing more than others. Bitcoin’s price plummeted from $20,000 in December 2017 to about $3,000 a year later and has recently bounced to about $8,000 in May 2019 with predictions of ongoing price surges. Always look at the medium to long-term prospects of a coin; true gains are likely to be made in another 1, 5 or 10 more years.
In addition from data available by the year 2020 the price of bitcoin will sky rocket to $100,000
Disclosure: Opportunistic fraudsters are taking advantage of this market, offering investments in cryptocurrencies and doing everything they can to defraud unsuspecting victims, Anyone who invests in cryptocurrencies should thoroughly research the company they are choosing to invest with to avoid scams.
Click on the link to invest and start earning today: The Most Trusted Crypto Company
Please kindly share on all Social Media Platforms. Thanks