Bitcoin - All You Need To Know Before Investing in Bitcoin (2019)

Bitcoin is a decentralized digital currency which can be sent from user to user without the need for intermediaries. Itis becoming more and more popular.

In 2016, you could have easily bought a Bitcoin under $1000, however, if you’ll be going to sell that very same bitcoin today, you will get over $12,000 which is over 1100 percent return. With such phenomenal returns, it is important to understand the concepts behind this amazing technology which has the potential to change humanity forever.

In this article, you will explore some important questions such as - 

• what exactly is Bitcoin? 
• How it is different from regular Fiat currency? 
• And most importantly is it a fad or a revolutionary new way of conducting human transactions?

Unlike regular currencies like US Dollars, or the Pound Sterling or a Yen which are backed by the respective countries or governments. Bitcoins are a digital currency which is not backed by anyone.

You may think that the regular currency which we normally use is pretty
good so why to use bitcoin? 

Check out the full video to know before investing in Bitcoin

Every transaction which we make today goes through a bank or the organization who takes their cut. Because of this and other reasons, some experts started working on new concepts with the aim of
eliminating the middlemen.

But then they faced another major problem called Double Spending Problem. It’s so serious that it can cause inflation in no time as anyone can use the same single digital token more than once.

In other words, if you don’t rely on the banks or governments then how will you prove that you have paid for something or you possess a certain amount of money? As there won’t be anyone to vouch for you!

In 2008, an anonymous programmer with the name “Satoshi Nakamoto” offered a solution to all these fiddly problems. Nakamoto stated a proposal on a popular cryptography blog regarding a system of currency which can record every transaction in one central ledger instead of a bank or any other government organizations. As a result, all the users would record all the transactions at the same time and because of this, any attempt to fool the community would be noticed.

Now, no government or bank can force a fee for all the transactions resulting in a more cheaper, quicker and simpler way to spend money, regardless of any country or borders.

So this is Bitcoin, a concept which was proposed almost over a decade ago by an anonymous programmer. To know more about this technology you can check the course given in the description section below!

Today, more than using it for buying or selling goods, people are considering it as an investment.

But before thinking about it, be very clear about investing in bitcoin, as like any other investment there is a fair share of risks associated with it. It is too random, and it is difficult to predict
its prices even by advance Machine learning models. Some, who invested early are profiting from it while others are loosing from this unpredictable market. If this doesn’t scare you out, then you can invest in it.

Apart from investments, many people are also using it in real life. You can buy burgers or coffee,
some travel booking agency accepts it too; also if you are in US, Switzerland or Germany, you can pay your tuition fees with Bitcoins.

Some countries have banned it completely while many are partial about its use and a few
are in favors.

There are people out there who think that this can be a revolutionary in future and there are also people who are terrified at the same time with its capability of killing the fiat currency and affecting the economy.
However, the majority of people agrees that if we can eliminate the option of middlemen, then the world economy will function way better.

So what do you think? If you enjoyed this video, please let us know in the comments below.