20 Fast Facts About Bitcoin You Should Know – Nutshell School


20 Fast Facts About Bitcoin Bitcoin possesses the same characteristics as money: durability, portability. acceptability, limited supply, divisibility, and uniformity. There is no commonly accepted physical coin that represents Bitcoin. Bitcoins can be converted to other currencies. No one person controls Bitcoin it exits on a Blockchain. Bitcoins are kept in software wallets. The maximum amount of Bitcoins will be 21 million. Bitcoin is a digital currency that exists outside the banking infrastructure. Bitcoin was created  by people not a government. Bitcoins are divisible for payments in decimals. Several merchants are already accepting Bitcoin as digital payment. Bitcoin is illegal in over seven countries. Bitcoin was invented by the anonymous Satoshi Nakamoto in a white paper and released in 2009. Capital gains in Bitcoin is a taxable event. “Miners” solve complex math problems and create bitcoins. Bitcoin is a trading vehicle that benefit from capital gains Bitcoin is very volatile as a store of value and a trading vehicle. Bitcoin is only one of hundreds of crypto currencies. Bitcoin is a speculation not an investment. Bitcoin is the most popular and the first mover in the Blockchain/Crypto Currency space. Bitcoin has had one of the greatest appreciation on a percentage basis of anything in financial history except the Tulip Mania in Holland.

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