Bitcoin: My View, Myself Wk47.

in Steem For Pakistan13 days ago (edited)

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Good day all, today is another day and I am happy to participate in this contest honestly, @saintkelvin17 has been doing the most and you will pause to reflect how he gets to do all these he is doing. Let's go straight to the contest .

What Do You Understand By The Word Bitcoin?

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Based on my little knowledge on crypto, I would say Bitcoin is a form of digital currency that operates in a decentralized chain meaning it is not control by anyone not even the government agency or any financial institution. I won't say for sure when it was created and who created it but it is rumoured to be created by one Satoshi Nakamoto in 2010 but then no one has come forth to claim right to owning this digital currency.

It gives it's holders the 100% right to own and transfer their digital assets to anywhere and anytime, this is the best part. The decentralized nature of Bitcoin makes an average holder to save and invest without unnecessary tax compared to owning a physical assets.

With Two Paragraphs Narrate A Non-Fictional Story About Bitcoin.

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It's so funny anytime I get to read this story I am about to share because somehow I get to pity the person involved but let me share. So there is this man called Laszlo Hanyecz, he is a programmer from Florida who was Opportuned to hold over 10,000 bitcoins as at then, he was craving Pizza one day in May 2010, so he offered to give out the 10,000 bitcoin which worth nothing close to $25 then for a pack of pizza.

So another crypto enthusiast then named Jeremy Sturdivant accepted to get the offer from him and had the offer delivered to Laszlo's door step. But fast forward to today, such amount of Bitcoin is worth Millions of Dollars and if converted to naira, it will be worth trillions of naira. I am curious to know if Laszlo is still alive or worth, maybe he will be over there regretting what he did. That is why every May 22 of every year, it's considered as Bitcoin Pizza Day.

What Will You Do With 0.5 Bitcoin If You Were Rewarded With It?

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You know, this haven't crossed my mind for real but if I am offered such an amount of Bitcoin or in steem value which is equivalent to about 226,187 steem, I will first get myself a nice place to call a home, I mean build a beautiful house for myself then invest in my crypto trading.

Also, I will go for my masters and then get the certificate and then venture into food production, producing and processing food that would last for months before it spoils with this, I will be able to employ people and do my own bid to curb unemployment then settle my siblings and give my parents the best of life.

Give Us Another Suitable Name For Bitcoin And Why You Feel This Name Is The Perfect One.

If I am asked to rename bitcoin, I will call it Decentral, yes because bitcoin apart from being a digital assets also is a decentralized assets, I own 100% right to it irrespective of the amount I have, I am only limited to the resources to purchase it.

Also, calling it Decentral means I do not owe any financial institution tax levy on any transaction I make on my bitcoin, whatever happens to it is my concern and no one dare interferes with it, this is the most sweetest part of digital assets. No one monitors my transaction and even if they do, they won't know I am the one making that transaction, I remain anonymous and with this I am not being set up for kidnappers and arm robbers.

Thank you for going through my contest, I will be inviting @purpleidy23 , @udoikotabasi and @kingdouglas to participate in this contest.

10% beneficiary set to @hive-180106

Thank you for reading 💗

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