Introduction to Cryptocurrencies
As time passed, the citizens of the world grew tired of manipulative governments which control a countries' currency value through monetary policies. Thus, in the year 2009 the creation of a decentralized digital currency named Bitcoin surged by an unknown developer nicknamed Satoshi Nakamoto, causing turmoil among U.S. Federal agencies. At last a currency that was not manipulated by external forces other than simple supply and demand. However, Bitcoin was perceived as malevolent by some people due to Bitcoin's use on the infamous deep web which is used as a medium for illicit activities. Federal agencies then worked to dismantle these cyber-criminal organizations and began to search for a way to overthrow Bitcoin and prohibit its use. Bitcoin supporters did not give up and started campaigning and marketing Bitcoin explaining why it was a great currency for mainstream use. A few of the key reasons are listed below:
Bitcoin is a currency which use cryptography and blockchain ( a public ledger of all cryptocurrency transactions) technology in order to remain anonymous
Bitcoin allows you to be your own bank and send digital currency to and from any part of the world.
Bitcoin can be mined (compiling recent transactions into blocks and trying to solve a computationally difficult puzzle from which you are rewarded in Bitcoin) which may result profitable but only if done at a large scale due to the escalating difficulty to solve the algorithmic puzzles and the equipment required.
Bitcoin is programmed to have a maximum supply of 21 million bitcoins in circulation differentiating itself with fiat currency whose supply can be increased by decision of the central banks
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