Hello techies.
We are going to see the most debatable topic.
Guess what?
Yes it is Bitcoin.
At the same time it's going to be so interesting as well.
You probably might have confused with this currency.
Don't worry.
This article is not about whether bitcoin is safe or not.
However it brings you the clear knowledge or idea about it.
What is bitcoin?
Bitcoin is a currency that cannot be seen.
Bitcoin is an electronic payment system that is based on cryptographic proof, instead of trust. Some holders buy bitcoin as an investment, wanting it to increase in value, while individuals and businesses use or accept payments as currency.
PayPal, for example, currently supports Bitcoin transactions, and the country of El Salvador has accepted Bitcoin as a currency.
Bitcoin-to-bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer (P2P) network. The P2P network monitors and verifies the transfer of bitcoin between users. Each user's bitcoin are stored in a program called a digital wallet, which also holds each address the user sends and receives bitcoin from, as well as a private key known only to the user.
Current value of bitcoin is 56,524.10 USD.
Does bitcoin have future?
How it works?
Is that profitable?
For the better understanding of these questions,
Let us take an instance.
Read the following lines keenly.
At last a question will be asked.
Your answer will be the answer of these questions.
Let us start.
In a small village a rich business man had announced that he would pay 2 dollars per monkey.
Villagers were surprised to hear this.
They had started in search of monkeys.
Finally they had given him a monkey and had got 2 dollars.
Then he announced that he would pay 4 dollars per monkey.
Again villagers were happy an
They had given him a monkey and had received their rewards.
It just kept happening over and over.
Now the rate of the monkey is 10 dollars.
That business man had gone out for a business trip and left all the monkeys under his assistant control and announced that he would give 20 dollars for a monkey.
On the other hand there is no more monkeys in the village.
They all were sold out.
Villagers were totally upset because this time if they give a monkey their reward would be doubled.
This time business man’s assistant had made a deal with the villagers that he would give monkeys
for 15 dollars.
Having kept in mind business's man words, villagers thought that they would gain 5 dollars out of this.
So they were urged to buy monkeys from the Business man's assistant.
To their disappointment, business man's assistant had escaped from the village and that business đŸ‘¨ never came back to the village.
Here is a question for you.
Will you buy that monkey from that Business man’s assistant?
Your move decides the answer of this question.
There is no guarantee or warranty for your money.
There is no one to safeguard your money.
Your decision will do wonders here.
Now I hope you would have understood how this works.
Share your thoughts about this bitcoin with me in the comment section.
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