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Everything You Need To Know About Bitcoin

Submitted by solomon on Fri, 01/26/2018 - 17:36
image of bitcoins on desk
Pic: Pexels Creative Commons / David McBee

Who made bitcoin?

There is speculation on who made it as the person who is believed to have made it (Satoshi Nakamoto) disappeared. This is like Mark Zuckerberg disappearing before the release of Facebook. It’s simply a strange thing to do and there are many theories about it.

What is bitcoin?

Bitcoin is a cryptocurrency (a digital currency which uses encryption techniques). It was created in 2009 when Nakamoto mined the first ever genesis block. You can use bitcoin like any other currency.

Why did he make it?

There are many possible reasons why Nakamoto made bitcoin: security, investment, creating an easy way to transfer money, and a way to make money.

Where can you get bitcoin?

There are a couple of ways to get bitcoin, such as mining it and investing in it. By doing this you are almost guaranteed to earn money as bitcoin keeps going up in value.

The current value for each bitcoin (25/01/2018) is $11,137. At points last year it was above $19,000!

By Aidan