Bitcoin Secrets Revealed | The Complete Guide
If you are like me, curious about this latest crypto currency era aka crypto gold rush — then you should find this article worthy of your eyeball-time!
Imagine how great it would feel to be a crypto millionaire — or just a millionaire in any event — I could sit for ages just coming up with the things I would and would not do anymore.
And the fact that an expert and someone who has achieved this step in life is willing to share his knowledge in Bitcoin Secrets with how to achieve this status, is really amazing.
SO, this whole world was completely new to me…but not for long. I came in contact with a student in my stock market class and he was eager and willing to share all her knew about cryptocurrency. And wow, did he know a lot.
As a matter of fact, as at this writing, he has joined the ranks of the crypto millionaires…and yes, now I know another millionaire.
Back to the story, so he gave me TONS of information on how to get involved with crypto currency and how to use it as means of wealth accumulation. I am still busy using this information and it blows my mind every time when I am success in my information application.
Besides, this student, I also met another expert who decided to share his knowledge with others — somewhat like ‘giving back to the community’ if you will.
I left the information above and I urge you to check it out. A lot of times, we get information, nod our heads and take no action AND THEN, wonder why things have not changed much for us. Don’t let me shake your head — Go check it out!
You may have heard about Bitcoin and wondered what it really was. There is always a lot of news about this digital currency and especially how it rises and falls in price dramatically at times. Well, let’s take a closer look at the mechanic behind bitcoin.
Bitcoin is a digital currency. Don’t hink for a minute that they are actual coins because they are not. They are just ‘made up’…digitally. The original intention of Bitcoin was to send payments anonymously and securely online. This is still true to a certain extent today.
A Decentralized Currency
There are a few countries, the latest one I heard being India, which seem somewhat ‘threatened by bitcoin and crypto currency’ on a whole. It is a totally decentralized currency not controlled by any governments or centralized banks. Some countries have actually banned Bitcoin.
A major advantage that Bitcoin has over conventional fiat currencies is that it is not affected by any inflationary of deflationary measures imposed by countries. There is a limited supply of Bitcoin which increases its value — similar to gold.
The Technology behind Bitcoin
Blockchain is the technology behind Bitcoin. This is a public ledger system which adds to a large chain of confirmed transactions which is where the name blockchain originated from. Anyone can see the entire blockchain for Bitcoin since it began in 2009. This is a lot of data and will grow even larger in the future. It is simple amazing how much tihngs have grown since then till now, 2021.
With blockchain technology after verifying a financial transaction you cannot change it. It creates immutable records — unchangeable at its best! This is excellent for security but not so good if you make a mistake with a Bitcoin transaction. There is no turning back after verification and confirmation. This is the ‘beauty’ of the whole process.
Thousands of computers (nodes) in the blockchain network for Bitcoin validate it all of the time. The interesting things about all this is quite mind-blowing — this means that it is virtually impossible to hack a blockchain network as you would require more processing power than all of the computers that make up the network.
Why is Bitocin So Popular
When Bitcoin launched in 2009 the promise was that it would allow financial transactions on a peer to peer network without the need for any financial institutions or government control. A lot of people that knew about it at the time were very excited about the possibilities while others were somewhat skeptical.
The digital currency was actually a secondary consideration. It was the blockchain technology that so excited the creators and those that were part of the peer to peer community. But the Bitcoin currency has turned out to be a lot better than was expected. There are several reasons for its significant growth in popularity.
Transactions are Private
The concept with Bitcoin is that it was totally anonymous. Anyone could make a transaction from anywhere to anywhere in the world and nobody would know who was involved. These days to use Bitcoin exchanges to make transactions you do need to provide some personal details but it is still a lot more anonymous than other financial transactions.
A good example of this is when using Bitcoin to make purchases from vendors both in online stores and brick and mortar stores. You can complete the transaction without having to provide any of your personal information to the vendor.
More Businesses are accepting Bitcoin
The growth of Bitcoin has lead to more and more businesses adopting it. They will accept it as a form of payment and also use it to make payments to outsource workers in different countries. Major payment processors like PayPal, Visa, and even the famous Elon Musk, have started using bitcoin as a means of payment exchange along with other cryptocurrencies as well.
With large brands such as eBay, Intuit and the DISH Network embracing Bitcoin more people are becoming interested in the digital currency. A lot of people have now decided to invest in Bitcoin because of this.
The Security of Bitcoin
Over the last few years there have been some serious data breaches happening to well known companies such as target. The cyber criminals who committed these breaches stole personal information about the customers of these companies. They then sell this information on the black market.
With Bitcoin and the underlying blockchain technology you can make financial transactions without the need to provide sensitive financial information. The decentralized ledger in Bitcoin is extremely secure and virtually impossible to hack. There is no exposure of Bitcoin wallets when making financial transactions.
Transactions are Cheaper
To send money to another person using your bank will often cost you quite a bit in transaction fees. These rise considerably if you need to send money to someone in another country.
International payments also take time as well and it is not uncommon to have to wait a few days for a transaction to clear. There are very small fees involved with Bitcoin transactions and it is a lot faster to make a transaction to another country.
And this is just the tip of the iceberg. I created an ebook, something like a bitcoin crytptocurrency 101 guide and I have included it as one of three bonuses if you decide to check out the course Bitcoin Secrets.
Yes, knowledge is power, so give it some of your ‘eyeball time’.