Bitcoin | Lion and the Black

What is Bitcoin? Why should I invest right now? (Don’t Wait)

Bitcoin is a cryptocurrency. Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are made with no middlemen – meaning, no banks or paper currency operated by the government. Bitcoin was developed in 2009 at starting cost $200 per coin, skyrocket to $19,783.06 in December 17, 2017. Many millionaires were born, your opportunity to grab a piece of the pie and the future of money. Since the release of Bakkt cryptocurrency, partnered by Microsoft/Starbucks/ICE on September 23, 2019, Bitcoin crashed to low $8,163.89 US Dollar. Bakkt is a new bitcoin still in development and not yet highly adopted into the world yet, but soon to be, just watch.

Bitcoin crashed in history and you’ll never see this again. Starbucks and Microsoft will never have their stocks rock bottom again, same as Bitcoin. If you don’t know Bitcoin by now, you’re living in the dark age. Bitcoin is real money as you can get, you can trade digital money into US Dollars paper.

How Bitcoin created?

Each Bitcoin is basically a highly secure hash algorithm 256-bit computer file which is stored in a 'digital wallet' app on a smartphone or computer. Bitcoin uses SHA-256 which gives an output of a fixed length. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain. Bitcoin is like gold in many ways. Like gold, Bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and Bitcoin must be mined via digital means. There are only 21 million Bitcoins that can be mined in total. As of now, 17.7 million coins have been mined and the total coin supply halves every four years. Due to this, the last bitcoin will be mined in the year 2140 and after that, no new bitcoins can be mined as per the Bitcoin protocol limit.

How does Bitcoin work?

Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.

This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions.

How do people get Bitcoins?

There are three main ways people get Bitcoins.

• You can buy Bitcoins using 'real' money.

• You can sell things and let people pay you with Bitcoins.

• Or they can be created using a super-fast computer with the software technology to create new hash, but this unlikely for average Joe, only highly computers can create halves ever 4 years.

• People set up powerful computers just to try and get Bitcoins. This is called mining.

• But the sums are becoming more and more difficult to stop too many Bitcoins being generated.

• If you started mining now it could be years before you got a single Bitcoin.

• You could end up spending more money on electricity for your computer than the Bitcoin would be worth. There are 17 million coins mined and cap out at 21 million coins by 2140. Once they are mined and reached its cap, no copy or reproduce like paper money. Can’t go to the copy machines owned by the government and print more copies.

Unlike paper money where the government sign an approval signature to make more copy of paper money, run to the nearest copy machine, feed the paper that were created by mother nature trees in the first place, print the money paper with ink and pump into the community and called it, “here are more money to use.” (April 2, 1792 is the history of the United Sates Dollar was created by the United States Congress as new currency standard unit of money.) Now 240 years later, Bitcoin is born – the new digital currency for today’s world.

Why are Bitcoins valuable?

There are lots of things other than money which we consider valuable like gold and diamonds. In ancient time, cocoa beans, silver, and gems are traded as source of money without today’s world of using paper currency runs by the greedy government who dictates our inflation by generating more copies of paper money. Shame on them!

Bitcoins are valuable because people are willing to exchange them for real goods and services, and even cash. It already highly adopted on hundreds of eCommerce online website, retailers, restaurants, and used by these countries already; Japan, United States, South Korea, Italy, The Netherlands, United Kingdom, Sweden, Russia, Brazil, South Africa, Canada, and many more.

Some people like the fact that Bitcoin is not controlled by the government or banks.

People can also spend their Bitcoins anonymously. Although all transactions are recorded, nobody would know which 'account number' was yours unless you told them. Bitcoin is a consensus network that enables a new payment system and a completely digital money.

Is it secure?

Every transaction is recorded publicly so it's very difficult to copy Bitcoins, make fake ones or spend ones you don't own. It is possible to lose your Bitcoin wallet or delete your Bitcoins and lose them forever. Just like paper money, if you drop $100 on the street and lose it, you can’t call your bank to recover it. People need to secure their bitcoin as they would put paper money in the safe. You can put bitcoin in the safe also. There are trusted websites that let you store your Bitcoins remotely.

The value of Bitcoins has gone up over the years since it was created in 2009, but now it crash in 2019 in first time in history. Don’t wait for the price to climb backup, sign up and start investing as little as $100 to buy a portion of the bitcoin coin into your portfolio. The faster you start understanding this digital currency, the more you can control your future of money. If you bought a piece of real estate during the mortgage crash that occurred 2007-2009, you would double your money. Same goes for Bitcoin.

Don’t wait. It’s your money. Don’t lose your opportunity of the downfall market of Bitcoin. Get your hold of the digital money and watch the money grow.

Send your questions here if you need help to info@tesseractbluesolutions.com.

Shai Chea

IT Manager / iOS Developer

Disclaimer: Please do thorough market analysis before developing or changing any new positions on potential investment opportunities. All statements are my own and do not represent the ideas, thoughts, or positions of any other party. I have not been compensated by any party for creating this content. None of this is to be considered investing or financial advice. Should you choose to, you invest at your own risk.

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