Bitcoin: The Future Of Digital Currency

Bitcoin is a new and popular payment method, which is also the world’s first digital currency. It is even being called as the future of money. Do you think that the money you store in your bank account is yours and safe? Consider the recent global economic crisis that hit many countries badly. In 2013, banks in Cyprus closed down for 2 days leaving all its account holders stranded and unable to pull out their money.

Bitcoin is free from bank regulation and control. It can be purchased through an online exchange using real money. A software called bitcoin wallet can be used to store it on your computer.

The Advent of Bitcoin

A person (or group) introduced Bitcoins under the pseudonym Satoshi Nakamoto in 2009, as an open source software although work had started in 2007. The idea behind creating bitcoins- a digital currency- was to create a decentralized currency. It has no authority regulating it, no banking system to store it and no mint to create the coins. Everything is done through computerized systems. Currently about 12 million bitcoins are in circulation although at the time of its creation the programmer claimed that there are a finite 21 million Bitcoins. The Bitcoin Charts tracks the activity of these Bitcoins and they are currently valued at $460 each. The peak value it touched was in December 2013 at $1000.

Bitcoin- As an Investment

Like any other currency, you can buy and sell Bitcoins. Many people have already become billionaires through the Bitcoin exchange. Users of Bitcoin can also mine or generate their own Bitcoins. This process of mining or generating Bitcoins takes place at home. For mining or generating BItcoin, you will need a powerful VGA (Video Graphic Accelerator) connected to the internet and it needs to be on 24/7.

Are you willing to generate BItcoins? Contact Macrotronics Computer Store, which is an acknowledged company that builds mining rig computers.