December 21st, 2017
In 2017, bitcoins have taken the globe by storm. Investors are intrigued by the growing value of bitcoins day after day and are increasingly investing in them. Bitcoin is a digital currency which is traded on application based virtual exchanges throughout the world. It is completely unregulated and completely decentralised. The currency itself is self-contained and un-collatered, meaning that there is no precious metal behind the bitcoins, the value of each bitcoin resides within each bitcoin itself.
According to Newsweek, Dorian Prentice Satoshi Nakamoto, an American Japanese living in California is said to have invented bitcoins. They can be mined by anybody who has computing skills, though mining it is becoming tough day by day. The price of bitcoin is on the rise because bitcoins are finite. So as people keep buying and selling, the price keeps rising. Since no regulator is controlling it, the prices are volatile and can rise or fall up to 40 percent at the slightest of good or bad news.