Bitcoin: Myth or Miracle by eforucom

View this thread on steempeak.com
· @eforucom ·
$46.44
Bitcoin: Myth or Miracle
<html>
<p><img src="https://i.imgsafe.org/b2/b2838ab864.jpeg" width="720" height="540"/></p>
<p><a href="https://www.pexels.com/photo/bitcoin-blockchain-btc-computer-keyboard-822017/">Image Source</a></p>
<p>What would you think if I argued that there does exist a type of currency that can’t be touched or felt like coins or currency notes, but it is in the form of digital currency? Most of you might not even be surprised, as a matter of fact, you might be thinking about enlightening me more about this so-called cryptocurrency. There has been a lot of debate on the use as well as investment in cryptocurrency since its introduction in the year 2009 by Satoshi Nakamoto, as Bitcoin. Bitcoin became the first cryptocurrency to be used in place of normal currency due to some advantages it possessed over normal currency, but Bitcoin also brought a number of loopholes with it.</p>
<p>With the use of Bitcoin a transaction did not require the presence of third parties, for the verification, as it used my digital signature for verification and to check if I had the said amount of Bitcoins to make the payment, also there are only a limited amount of Bitcoins present in the entire world, 21 million Bitcoins to be precise, which prevents the use of the same Bitcoin more than once, also in the case of normal currency the price is controlled by the governing authorities, on the other hand in the case of Bitcoin it’s price is based on supply and demand. Let me elaborate, more demand than the supply of Bitcoin results in its increased rate and if the supply is more than demand the Bitcoin price drops. Due to increased demand for Bitcoin in the past few years, there has been an increase in Bitcoin price, which, at present is 1 Bitcoin equals 7900 USD.</p>
<p>Bitcoin is a very big form of currency, even if I have a single Bitcoin, I can make payment with 0.25 Bitcoin or 0.12 Bitcoin which, if I calculate it is actually 1,975 USD and 948 USD. Initially, only a small number of Bitcoins were sold, and in order to earn more Bitcoins processes like mining came into existence. In order to understand mining, let me first explain how Bitcoin works.</p>
<p>In order to make payment using Bitcoin, first I have to make a Bitcoin wallet which has a unique address and private key. While making payment, I have to type in the wallet address of the person on the receiving end, which then goes to the Bitcoin network to verify my digital signature and after verification, the transaction gets stored in a block which keeps the record of all the Bitcoin transactions. Now mining takes place in which a miner seals the transaction so that it can’t be manipulated and the block gets stored in the blockchain setup, for sealing transactions the miners are given Bitcoins, and this is known as Bitcoin mining, which is another source of getting Bitcoins other than buying them.</p>
<p>But the question still remains, "Is investing in Bitcoin a good choice?" let me see, there are two types of investments, Actual investment, and Virtual investment, where Actual investment is just the usual form of investment, Virtual investment involves investing in Bitcoins and other forms of cryptocurrencies. In the words of the CEO of Digital Currency Group, "Cryptocurrency is the highest risk and highest return investment." which I think is a just answer to the common question. High risks are involved as a Virtual investment is based on cryptocurrencies, and if a currency surpasses Bitcoin, it’s price is very likely to come down. Actual investments also involve risks but in their case, the risk is a calculated one, as an Actual investment is more predictable than its counterpart. Once I make the payment using cryptocurrencies the payment cannot be reversed if I happen to send it to the wrong person, due to the absence of third parties, unless the other person sends it back to me. Where Actual investments involve tax benefits Virtual investments come with no such things as the government has got nothing to do with it, and there is another catch, Actual investments can actually be insured, whereas in Virtual investment I am solely responsible for anything that happens. Facts apart, I personally love cryptocurrencies and it is only a matter of time when more and more people start using it, because of the merits it has over local currencies and when that happens Bitcoin prices are gonna touch the moon.<br>
&nbsp;</p>
<p>&nbsp;If you liked my post, then please give an Upvote and Reesteem it, you will be thanked.&nbsp;</p>
<p><br></p>
</html>
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 291 others
properties (23)
post_id57,879,617
authoreforucom
permlinkbitcoin-myth-or-miracle
categorybitcoin
json_metadata{"app":"steemit\/0.1","tags":["bitcoin","cryptocurrency","virtualcurrency","myth","miracle"],"format":"html","links":["https:\/\/www.pexels.com\/photo\/bitcoin-blockchain-btc-computer-keyboard-822017\/"],"image":["https:\/\/i.imgsafe.org\/b2\/b2838ab864.jpeg"]}
created2018-07-27 14:15:33
last_update2018-07-27 14:15:33
depth0
children4
net_rshares25,120,655,876,591
last_payout2018-08-03 14:15:33
cashout_time1969-12-31 23:59:59
total_payout_value35.357 SBD
curator_payout_value11.082 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length4,552
author_reputation93,325,430,079,699
root_title"Bitcoin: Myth or Miracle"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (355)
@bdvoter ·
You got a 83.80% upvote from @bdvoter courtesy of @eforucom!

**Delegate Your SP to us at @bdvoter and earn daily 100% profit share for your Delegation & Reward will be Distributed Automatically Daily.**

[500 SP](https://v2.steemconnect.com/sign/delegateVestingShares?&delegatee=bdvoter&vesting_shares=500%20SP), [1000 SP](https://v2.steemconnect.com/sign/delegateVestingShares?&delegatee=bdvoter&vesting_shares=1000%20SP), [2500 SP](https://v2.steemconnect.com/sign/delegateVestingShares?&delegatee=bdvoter&vesting_shares=2500%20SP), [5000 SP](https://v2.steemconnect.com/sign/delegateVestingShares?&delegatee=bdvoter&vesting_shares=5000%20SP), [10000 SP](https://v2.steemconnect.com/sign/delegateVestingShares?&delegatee=bdvoter&vesting_shares=10000%20SP).

If you are from Bangladesh and looking for community support, Join [Steemit Bangladesh Discord Server](https://discord.gg/Z3P6bbt) & If you want to support our service, please set your witness proxy to [Steemit Bangladesh](https://steemconnect.com/sign/account-witness-proxy?proxy=steemitbd).
properties (22)
post_id57,886,923
authorbdvoter
permlinkre-eforucom-bitcoin-myth-or-miracle-20180727t152841320z
categorybitcoin
json_metadata{}
created2018-07-27 15:28:39
last_update2018-07-27 15:28:39
depth1
children0
net_rshares0
last_payout2018-08-03 15:28:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length1,054
author_reputation5,666,740,605,819
root_title"Bitcoin: Myth or Miracle"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@dailyupvotes ·
re-eforucom-bitcoin-myth-or-miracle-20180727t173947773z
You got a 100.00% upvote from @dailyupvotes courtesy of @eforucom!
properties (22)
post_id57,899,630
authordailyupvotes
permlinkre-eforucom-bitcoin-myth-or-miracle-20180727t173947773z
categorybitcoin
json_metadata{"app":"postpromoter\/2.0.0"}
created2018-07-27 17:39:48
last_update2018-07-27 17:39:48
depth1
children0
net_rshares0
last_payout2018-08-03 17:39:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length67
author_reputation747,021,898,927
root_title"Bitcoin: Myth or Miracle"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@foreneo ·
I followed and up votes you. please followback
properties (22)
post_id57,942,782
authorforeneo
permlinkre-eforucom-bitcoin-myth-or-miracle-20180728t042314390z
categorybitcoin
json_metadata{"tags":["bitcoin"],"app":"steemit\/0.1"}
created2018-07-28 04:23:12
last_update2018-07-28 04:23:12
depth1
children0
net_rshares0
last_payout2018-08-04 04:23:12
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length46
author_reputation4,136,820,402,388
root_title"Bitcoin: Myth or Miracle"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@steemitboard ·
Congratulations @eforucom! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/votes.png)](http://steemitboard.com/@eforucom) Award for the number of upvotes

<sub>_Click on the badge to view your Board of Honor._</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!
properties (22)
post_id58,352,879
authorsteemitboard
permlinksteemitboard-notify-eforucom-20180731t234711000z
categorybitcoin
json_metadata{"image":["https:\/\/steemitboard.com\/img\/notify.png"]}
created2018-07-31 23:47:09
last_update2018-07-31 23:47:09
depth1
children0
net_rshares0
last_payout2018-08-07 23:47:09
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length670
author_reputation38,705,954,145,809
root_title"Bitcoin: Myth or Miracle"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000