You still think that cryptocurrency and bitcoins are something extremely modern and unexplored? Think again. For example, the first purchase by Bitcoin was made over seven years ago. Interesting fact, right? Well, it`s just one of many that are described in this video.
The first purchase to use cryptocurrency occured on May 22, 2010. For two Papa John’s pizzas, Laszlo Hanyecz,a programmer from Las-Vegas, transferred 10,000 bitcoins (worth $25 at the time). At today’s price, each pizza would cost him $13.5 million.
From there, Bitcoin, lightcoin, ethereum, token and blockchain became a part of most current financial news. Cryptocurrency firmly established its role in the financial system.
If we skip the details, one can say that cryptocurrency is digital money created by computers solving specific mathematical problems.
Information about cryptocurrency is stored in a regularly updated data base called the blockchain. The main advantage of blockchain is the lack of a unified location. Blockchains are stored simultaneously on the computers of millions of users, which makes it almost impossible to fake data or damage it.
Cryptocurrency is born by a process called mining. The days of mining digital coins with ordinary home computers is long gone.,. Now, the role of digital currency miners takes place in large mining farms that help miners afford modern equipment and the high electricity bills. . For example, these farms that mine bitcoin, have contributed to the production 16.5 million to 21 million.
Besides mining, there are other ways to make a profit with cryptocurrency. The simplest way is trading at special currency exchanges like Poloniex and Bittrex and also trading CFD contracts through something like Libertex.
According to CoinMarketCap, on July 2017, there were more than 1,000 active varieties of digital currencies and total capitalization of this market exceeds $100 billion. Not bad, given that fact the first cryptocoin was issued in 2008.
There’s a lot of information on the Internet about the various ways to profit from bitcoin. For example, look at this short but useful instruction from our partners.
We live in a very interesting time and at this moment changes are taking place in the system of world payments. The best part is each of us can participate in these changes and earn good money from it.