Is traditional money market under scare from Crypto currency?

The Bitcoin

Bit coin is a digital currency (there are 100’s types of them today) that isn't controlled by a central authority such as a government or bank. It's created by "miners," who use computers and specialized hardware to process transactions, secure the currency's network through Blockchain, a technology that records crypto currency transactions chronologically in a public digital ledger.

Bitcoin which is less than ten years old at the time of this briefing is the oldest and most highly valued among the 100’s of crypto coins out there. In its short history, it has had some share of controversy as well as attraction amongst high-profile supporters.

Bitcoin is a hot topic and a frequent point of discussion among investors, entrepreneurs and stock traders, hence the need to know something about it.

The origin

The origin of Bitcoin is traced back to 2008, when its creator, who went by the pseudonym Satoshi Nakamoto, published a proof of concept for Bitcoin which was then included in a crypto currency mailing list in 2009. He then left the project which was thereafter picked up by developers. His true identity has however never been confirmed but whoever he is, that person is very rich as he is estimated to have mined a million Bitcoins in the currency’s early days.

Coin transactions

The first transaction involving Bitcoin was reported on May 22, 2010, when a programmer identified as Laszlo Hanyecz claimed to have successfully traded 10,000 Bitcoins for a pizza. As of Nov. 28, 2017, 10,000 Bitcoins were worth about $99 million and since then people have continued to use Bitcoins to buy stuff. The largest businesses to accept the crypto currency include Overstock.com, Expedia, Newegg, Dish, and the list is growing day by day. The World’s Richest and Famous people are now using Bit coins.

Jaw dropping

The value of Bit coin has lately started a defined meteoric rise and from May 2017 the all time chart started assuming a significant exponential rise such that by the end of November 2017, the value of Bit coin had reached $10,000 per unit. Currently there are some 16.7 million Bitcoin units in circulation, and the crypto currency’s Market Capitalization is stunningly growing higher and higher. The Trend of the coin recognition continues to soar, which is putting the traditional money market under threat.

The rush is on

Do you remember the date 22nd May 2010 when Laszlo Hanyecz traded 10,000 coins for a pizza? If he preserved the coins up to today the 10th December 2017 when the value of Bit coin stands at $15,000+, he would be a $150+ Million rich buddy. Cameron and Tyler Winklevoss the Harvard-educated twins who sued Mark Zuckerberg claiming that Facebook was based on an idea they'd had, are now the first Bit coin Billionaires today as I write this report and they predict Bit coin to be a Multitrillion Dollar Asset. Currently the mass awareness about crypto currency especially the Bit coin has assumed a buzz of frenzy proportion and the rush is really on.

Now let’s focus on some examples. Zuckerberg, Bill gates, and now the Winklevoss twins have something in common. They are all Billionaires and they all did something in common. They each respectively pressed the right switch at the right time. What about you and me who have big dreams but do not belong to the league of billionaires. Well the reality is that we can still go to great heights. The Zuckerberg’s Facebook is not available, The Bill Gate’s Microsoft is not available either, but the Bit coin is and so masses are rushing to grab the opportunity. And it is so for a reason. If you are now fired to take action visit HERE and don’t forget to tell me your story this time next year.

Wish you all the best.

Peter

Fellow entrepreneur