Hello everyone . Today i'm going to talk about some sort of crazy CURRENCY $$.I just look around on steemit and i saw everyone is talking about Bitcoin and Crypto currency.So i thought it's a good idea to share my views about this crazy stuff. In this section i am going to tell you
what is cryptocurrency?
& Most important
How this system comes out ?
We all know about the currency such as dollar and we know how to use it. We have just to go market and buy everything which we want and that's it. All we have is just to pay in dollars paper note.Nothing to worry about. But there is some sort of other currencies which worth more value than any other official or government currency note.
Such currency is not made of gold , platinum, silver or some sort of other precious metal .Yes! You are thinking right. It's cryptocurrency and Bitcoin is actually the type of crypto currency there are many other types such are Feather coin,Dodge coin and many more. We will talk about them later .
What the BITCOIN really is !
Bitcoin is an alternate type of currency on internet , it is not just like dollar $$ which worth some thing like gold some where .It is digital currency which owns some unique code on it such code which cannot be replicated or just copied and pasted.
Consider a group of people who agree to buy or sell some sort of things within the group and they are willing to decide we should use our on currency within groupand they decide to do this with some code currency .Some mathematical codes which are very specific. The difference in crypto currency and the dollar is Government of U.S has issued this dollar currency and has said its worthy in this country and have established banks to reserve it but in case of crypto currency it is totally digital no paper work
How this get started
Consider me and you planned to start some business and you say that Dude! i have no money and i say Not to worry about we can just start by our own currency. We just go out there are ask other people hey look he wants to sell his horse in link(BITCOIN) currency . You can get this currency by just spending some of your money in dollars. So that's how this currency comes out. The more and more people gets into this group more will your currency get worth The cryptocurrency worth some thing because group of people are agreed with this .
Worth of bit coin
So a bit coin at the start about in 2008 worth of few sents . With the time more people get in to,the more worthy it becomes so the value is variable but now a days it worth a lot .People who own some bitcoins in early days have become rich because the worth of bitcoin has raised so much high that one bitcoin worth about 2600 U.S dollars these days . It is pretty impressive value. Again the more people get in to the more it will be worthy. One who have bought some bitcoins in early days are now became millionaire. it's pretty lucky man! The value of bitcoin is raising these days by about 0.8 percent.
Why should i invest in bitcoin
I am not going to convince you to invest in bitcoins because this system is working these days bur we are not sure about future. Most of people are investing their money these days and worth a lot in very few time. It is risky but being serious i am too thinking to invest in bit coin because the system is still working
This was an introductory blog about crypto currency and in next blog i will tell you how to invest money and best sites to do that in crypto currency. So stay with me and thanks for you time .
If you like this blog then make sure to hit upvote and if you have some suggestions about my blogs tell me in comments.
yup, it s helpful for newbies! thanks
thanks dude..i really appreciate that
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thanks dude