The Naked truth about BITCOIN and CRYPTOCURRENCY facts that you should know
you have all heard about cryptocurrency.
i have heard and read about this too. And then i was just SHOCKED and amazed !
Many fans say it is "THE FINANCIAL REVOLUTION " the free for all money...
the equitable distributor of wealth. some people even say "IT IS A DEATH OF DOLLAR"
as written by jeffrey Robinson in his January 2015 publication (The Naked truth about Bitcoin) on daily beast.
as explained by [www.cryptocoinsnews.com] a cryptocurrency is a medium of exchange like
normal currencies like USD. but assigned for purpose of exchange digital information through
a process made possible by certain principles of cryptography.
only a few people understand that at first reading. but the good part is we don't need a diploma
in cryptography to be able to keep or transact with it.
First there is a Bitcoin 
and Ethereum
. Then Litecoin. Do not let us bother about what similarities or differences
each variety have.
They are all Cryptocurrency :)
1. Investors in Bitcoin have financial security
in the first half decade of it's creation, the value Bitcoin Grew astronomically from $0- $1,000.
Currently, a unit of Bitcoin is wroth more than $6,000!!
2. Creator of Bitcoin maintains anonymity
Satoshi Nakamoto, the creator of Bitcoin has an identity that still eludes the world.
The name appears to be pseudonym. He (assuming it is a "he") is said to produce
approximately 3,600 Bitcoins every 24 hours in a digital block mining process.
3. The Bitcoin network is extremely powerful
The network of Bitcoin is much more powerful than the network of supercomputers.
the computing power of 500 computers if consolidated, is approximately 274 Pfolp/s.
Bitcoin network computing power according to experts, is 2,046,364 Pflop/s.
4. Bitcoin is Limited
Contrary to popular belief, Bitcoin is exhaustible. Because it is mined digitally doesn't make it infinity.
there is a schedule that has been predefined for it's mining. Till date, more then 20 million Bitcoin have been collected
and it is getting harder to mine with each passing day.
5. Bitcoin transaction are literally impossible to trace
Bitcoin is popular for its use in dark web transaction. many illegal purchases of items such as weapons, narcotics,
and contraband are made using Bitcoin. This is because
there would be no evidence of transaction. Most times, the entities involved are anonymous to one another.
6. The FBI owns one of the worlds largest Bitcoin wallets
Bitcoin are stored in wallets. One of the largest Bitcoin in the world is owned by the American intelligence department, FBI.
After operation that lead to the shut down of Silk Road, assets seized from the owner estimated FBI as having %120 million wroth of Bitcion.
**i am sure you found this post engaging. There are lot more intresting facts about the Bitcoin.
this series will lead you in there :)
now like Comment and vote this post for more upcoming facts :)
see you guys.
