Bitcoin refers to a cryptocurrency or a digital currency which is decentralized in absence of a central bank or administrator, without the hassle of intermediaries. It functions on the peer to peer bitcoin network.
Nodes verify transactions and a blockchain records them. The year 2008 is when bitcoins came into existence, when a person or group of people identifying themselves as Satoshi Nakamoto introduced them, and were functioning completely by 2009.
Bitcoin price can be exchanged for other products, services and currencies.
Key Takeaways In The Field Of Bitcoin Price Range
- Launched in 2009, Bitcoin has become the world’s largest cryptocurrency by market cap.
- Blockchain, a decentralized ledger system distributestrades and stores Bitcoin.
- The history of bitcoin has been quite turbulent though, as the prices skyrocketed and then dropped down by huge chunks of value.
- Bitcoin has inspired many offshoots and imitators due to its widespread popularity.
Working for bitcoins: more on the process
Various websites are dedicated to the digital currency-
- CRYPTOGRIND- Various work seekers and prospective employers come together.
- COINALITY- Freelance, part time and full time jobs.
- JOBS4BITCOINS- It is a part of reddit.com.
- BITGIGS- It is another website functioning on bitcoins.
Risks of bitcoin investing
Though initially, Bitcoin was not designed as a normal equity investment, a few apprehensive investors started investing in bitcoins. Rather than a medium of exchange, people purchase bitcoin as an investment value.Though Bitcoin does not have a history or credibility, and is still a new and novel concept compared to traditional investments. With their rapidly popularising phenomenon Bitcoins still remain in a developing phase. It is one of the highest risk, highest return investment that a person can possibly make.