What Are Cryptocurrencies

This area is to assist you with information explaining various aspects of Bitcoin and other Cryptocurrencies. Cryptocurrencies are all based on Blockchain technology and we will endeavour to explain how this functions as well.

Unless you have been hiding under a rock over the last few months you would have heard or read about Bitcoin or Cryptocurrencies.

Some of us even remember when Bitcoin was first mentioned back in 2009. Like you I followed it very much from a distance and unfortunately did not give it the credibility that it deserved. I even toyed with the idea of making a small investment in it back then but dismissed it as another short term investment that would probably go nowhere. Yeh how big a mistake was that!

So at the time of writing this in December 2017 Bitcoin and a large number of other Cryptocurrencies have been making exponential gains over the last few months. Cryptocurrency is now gaining front page news attention all over the world because of the pending impact on how future trading appears to be heading. Aside from that multimillionaires and billionaires have been created by their astute investments in these cryptocurrencies.

As an example the Winklevoss twins, Cameron & Tyler who famously settled with Mark Zuckerberg over the “theft” of their Harvard networking site ConnectU. It is believed the twins settled for around $65m of which a substantial amount of money has since been invested into Bitcoin and some other startup programs associated with Bitcoin. It is believed that they are now billionaires due to their investments in cryptocurrency.

Don’t get me wrong the price surges are not just happening because of new discoveries & technology updates but a lot of it is being driven by the “FOMO” crew (Fear Of Missing Out) who are jumping into Cryptocurrencies in droves and many of them are doing so without any security or safety considerations. Watch this space as there are bound to be some disaster stories unfolding in the coming months from those who did not take precautions.

Governments and banks are struggling to come to terms with how to deal with Cryptocurrencies because of the speed of the transactions, and the identity of the people behind the transactions.

To find out what Bitcoin and Cryptocurrencies are all about we suggest that you start with the following link that will give you insights into cryptocurrencies.

 

Comments are closed