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Power of Bitcoin


For over 25 years cryptographers and innovators
have been trying to come up with a secure
decentralized working digital currency, but none
succeeded until the invention of Bitcoin.
Bitcoin’s price has gone on a wild ride since its
founding 13 years ago.
Over the long-term, however, the price has been on
a steady rise, compounding at roughly
100% – 200% per year.
Those who bought Bitcoin early and held on to it
have typically seen phenomenal returns.
Investors who stayed on since inception have
reaped incredible gains.
For instance, had you invested in Bitcoin in
mid-2010, your returns could be in billions, as the
initial value of the bitcoin was close to $0.
If you decided to invest in Bitcoin a bit later, for
instance after three or five years, and held on
through the price gyrations, you’d have made
annualised returns of 174 percent and 224 percent,
respectively.
Even if as a late entrant you joined the party only
last year and invested a lump-sum, then, too,
returns were extraordinary, i.e., 411 percent.
Bitcoins enable buyers to complete transactions
without disclosing any confidential financial
information to the seller.
Bitcoins are just like digital cash that hackers can’t
get their hands on in any way.
At the same time, your true identity is hidden for
good.
This goes a long way toward avoiding targeted data
breaches.
In the case of Bitcoin, consumers benefit from
anonymity because all of their data is kept
confidential and stored using blockchain
technology.
Transparency, on the other hand, allows users to
conduct transactions in their own time and with
complete freedom.
Bitcoins enable buyers to complete transactions
without disclosing any confidential financial
information to the seller.
Bitcoins are just like digital cash that hackers can’t
get their hands on in any way.
At the same time, your true identity is hidden for
good.
PayPal now allows its users to buy and sell Bitcoins.
It also allows its customers to buy items
from its network of 26 million sellers, by paying in
Bitcoins.
If Bitcoin continues to grow at even a fraction of the
rate it has over the past 12 years, the gains for
long-term crypto investors would outpace that of
most other asset classes.
As per the market analysis done by the experts,
Bitcoin may reach the $100,000 mark in the
near future.
Bitcoin was created with a limited supply, 21 million
coins to be exact.
Out of the total number of bitcoins that would ever
exist to come into circulation, 90% of it has
already been mined and only 10% are left.
To buy Bitcoin all you need to have is a bitcoin wallet
and plenty of free options are available.
For beginners, a software wallet is probably the best
choice and you can download and install a number
of mobile applications or desktop programs.
What are your thoughts on the power of Bitcoin?
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