I intend to begin making more videos on my youtube channel about the beginning and up to now true meaning of what Bitcoin actually is. Most of people out there today have heard of BTC long after he had ever been created and hit the markets that is growing so much today. The history of Bitcoin and understanding it's start and where it came from is a very important time to acknowledge and give you the piece of mind to feel great about investing in it now especially that is has come a very long way as far as it's current price of $2,355. Once upon a time I recall getting that phone call about Bitcoin which at the time was a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto.
I was told about these fairy tale type Transactions which was said to have been made with no middle men – meaning, no banks! Now how the Hell could that be possible was my first response and initial reaction, I mean how could one's mind wrap around the thought at the time I knew nothing else but allowing the banks to hold, handle, and manage all my financial expenses clear across the board for years! Me picturing in my head and imagination that there would be no transaction fees and no need to give your real name and the rumor that more merchants were beginning to accept them, and even being told that you can buy web-hosting services, pizza or even manicures just about anything seemed like a flat out lie and scam. Boy was I wrong at this time I had $4,000.00 USD to invest and instead of buying BTC at $0.37 cents I spent that investment on Gold & Silver, I am sure you all can do the math I'd be filthy rich today if I had believed in the idea and made the move, FML. LoL.
As I started to do more research however it intrigued me to stalk the currency for a long time after I was just so intrigued I could not help myself! I figured out that Bitcoins can be used to buy merchandise anonymously which totally was unheard of and seemed to impossible to achieve, we live our life accepting our government and banks know every little thing we do and purchase to the last penny spent. In addition, international payments were easy and cheap due to the fact that bitcoins are not tied to any country out there or subject to regulation. It seemed obvious to me that maybe Small businesses would really like and enjoy BTC because for them there are no credit card fees and also I began to notice some people were actually starting to just buy bitcoins as an investment, hoping that they’ll go up in value. Would a great move for those of you who did this!
However during this time it was so hard for my brain to wrap around this entire idea and concept that People can send bitcoins to each other using mobile apps or their computers even which meant sending cash or a currency you would call it digitally. Just way to much for me to comprehend it was so far ahead of its time and then all in once sentence saying you can Mine this and create your own Bitcoins! What The!?!? As I dug even deeper into my Research about this Bitcoin idea I discovered that people out there would be competing to “mine” bitcoins by using computers to solve complex math puzzles. Another big WTF!?!? And just like that this is how bitcoins were created and a limited supply could ever be mined and created ever nothing past 21 million total. When I'd speak to Wallstreet people and investors even they were extremely skeptical and considered it a very serious scary scam to stay away and no one knew what it would become exactly when it came to bitcoin. The fact that it was mostly unregulated was a major red flag to stay away. Now I have gone on right into another rant as always but I will not end it here however I will end this blog and give more thoughts on more soon to come so stay tuned! =]
