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Do you know about Bitcoin?

Posted by Tam on February 2, 2014

Do you know about Bitcoin? This is virtual money which is circulated on the internet. This money isn't emitted by most central banks. I don't know the detail, but this money is made by mathmatics on some computers. I didn't know about this money until recently, when I heard a news story about its jump in worth. One Bitcoin was worth of one dollar in the beginning of 2013, but it was worth twelve hundreds dollars at the end of 2013. Its worth increased twelve hundreds times.
This money has some merits like easiness of remittance to other countries and low cost of fees. And this money have some troubles like money laundering and not to be recognised by goverments around the world. So if a government controls the use of Bitcoin, the worth of it will plunge. In fact, when Chinese government announced it would control the use of Bitcoins, the worth dropped by half. Do you want Bitcoins?

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Comments

Tam March 17, 2019 11:22

Hello, Saufen. Thank you for your comment. If I had bought some bitcoins at the time when I wrote this blog, I would profit now, because the worth of a bitcoin became 19850 dollars per one bitcoin on December 2017. The worth increased by 16.5 times.
Tam February 8, 2014 5:33

To Pavel

Thank you for your comment. I know the news, too.
Pavel February 5, 2014 23:04

Thanks for information!

The worth btc is very unstable, today in russia we can buy 1 btc for 840$! If only I had known it before..! :D

I know that the first purchase by bitcoins was in 2010 when one man bought pizza for 25K bitcoins. Today its about 20 million dollars!

There's also lucky story a man from Norway got lucky when he bought 5000 bitcoins for 1$ by chance in 2009 and completely forgot about them. Now he is a millionaire.

It seems that its worth won't grown up in the near future. I'm not going to buy either drugs or guns, so i don't need them :)
Tam February 4, 2014 1:07

To M.Hakim and Sultan Alotaibi

Thank you for your comment.
Sultan Alotaibi February 3, 2014 8:17

The process of collecting this kind of coin is called bitcoin mining. Now I'm building a fast PC for this kind of trading. The problem is that the price of bitcoin is dropping because that the number of traders is growing pretty fast.I forget to mention that bitcoin mining is based on decoding so it's like leasing your PC for some companies to use it. There are more digital coins other than bitcoin such as litcoin,peercoin,ripple, and namecoin. Some of them can be collected by decoding or data storing etc.Theese kind of digital coins is useful for online shopping.
M. Hakim February 3, 2014 7:08

First of all I have to know the use of Bitcoins. I have to know its utility and acceptability and mobility. Then I shall decide if I want it or not? All the best.