Bitcoin

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Bitcoin

BITCOIN PROBLEMS Given the current skyrocketing of the Bitcoin price by the hour, the investor in cryptocurrencies are looking at two options, either but, buy and buy more or take a step back and interrogate exactly how Bitcoin transited from a proposed digital currency to a popular investment opportunity and what the future holds. Bitcoin was launched in the year 2009 under the pseudonym of Satoshi Nakamoto and provided a decentralized currency that eliminated any sort of central authority from the mix. At the time of its launch, Nakamoto indicated that bitcoin would employ a peer-to-peer network supported by unbreakable math to verify the transactions and thus remove the need for centralized institutions. The complain at the time of the launch was that the conservative financial institutions created unnecessary friction where the banks along with other mediators passed on costs as transaction fees.

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