All of you must know about Bitcoin, but might not know these things I am going to discuss today.
Bitcoin was made by an mysterious person/group/company in 2008, named Satoshi nakamoto. His/It's identity is still unknown. It's initial price was just $0.008 which rose 1000% within a year and became $0.08. Later that year, somebody found a guy named satoshi nakamoto and media posted his pictures claiming him to be the founder of bitcoin.
However this guy proved he has no connection with bitcoin, and even doesn't know what it is. So who is satoshi? It is still a mystery. Some people even think that it is not a person but a group of companies.
Samsung and Toshiba = Satoshi
Nakamichi and Motorolla = Nakamoto
Why are people looking for Nakamoto? the reason is just the money. Satoshi owns 1 million bitcoins. for those who don't know, total number of bitcoins which can be mined are 21 million, from which 17 million have already mined. From the total supply of BTC satoshi owns around 5%. He can rule not just the bitcoin but cryptocurency by that percentage. BTC has a value because , we believe it has value, they are decentralized, hard to mine and are in limited supply. Once Satoshi appears out of nowhere, firstly it might no longer be decentralized. Secondly if he dumps 1 million BTC in the market with lower price, the overall price will fall on a rapid pace. Thirdly the trust people have in BTC will start to decrease, and will pull their money from the market which can bring not just BTC's price but all of the cryptocurrencies' price back to cents.
But no worries, this is probably not gonna happen.
Now lets come to the some numbers.
The initial price of BTC was $0.008. First ever offline recorded happened in 2010 to buy 2 pizzas. The paid 10,000 BTC for it. It is remembered as Bitcoin Pizza Day, you can goolge 'Bitcoin Pizza Day' as well for more information. Currently value of 10,000BTC is $197,200,450. A little expensive i guess?
At the moment I am writing this, the price of 1 BTC is $19,500. In the beginning, the price was just $0.08. Had you invested 1 cent in BTC at that time you would have $24625 by now. Check out the table below.
Had you bought $1 worth of btc back in 2008, you would be a millionaire by now. $1, seriously? You don't even get a cup of coffee with a dollar bill.
Is it too late to jump in the market? this question is like is it to late to use internet. The more time you take to invest, the more opportunity you loose.
I hope you enjoyed reading the article. For more these types of articles, follow me and upvote this post to give me motivation. Read my other article as well, It is about top cryptos to incest in 2018 for highest returns.
https://steemit.com/bitcoin/@hammza/618zrq-top-15-crypto-currencies-to-invest-for-2018-5x-50x-profit-potential-analysis-and-pridiction-get-chills-and-excited-part-1
Stay tuned more is yet to come.
Author: Hamza, 19 from Pakistan
I am an entrepreneur, Business Student, Writer and loves to make new friends who are ambitious. I love to discuss business ideas and new start-ups.
Thank You!