Society has intermingled itself with a digital world, an alternate reality even. We are so engulfed into social media and the internet world that it becomes more of a reality to us than virtual.
There are thousands of social media websites and millions of accounts. There are also tons of ways one can make money on the internet. In fact, the internet is the biggest market today and it is forever growing. The internet will never go away either, so there are constant supply and demand. However, speaking of making money through the internet, bitcoin is taking the virtual finance world by storm.
Bitcoin is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Bitcoin is independently operated by a central bank. Essentially, bitcoin is internet money – much like PayPal or google wallet. Bitcoin has been around for several years now, and new studies show that if you were to invest $100 dollars in bitcoin back in 2010, you would be worth over $72 Million dollars today. Interesting right?
The world of the internet is fantastic and vast. Bitcoin was launched in 2009 and the company relies on cryptography. May 22 marks the seven year anniversary of Bitcoin Pizza Day. Bitcoin pizza day was brought to Florida by programmer Laszlo Hanyecz when he used bitcoin to indirectly buy two pizzas from Papa Johns. This set him back 10,000 bitcoins. However, through all the years the currency has skyrocketed. For the pizza order, he calculated one bitcoin to be equivalent to 0.003 cents. However, bitcoin was then taken up by some major companies and approved as an actual form of currency. Companies like WikiLeaks, Zynga, and Dell have taken up the currency.
Right now one bitcoin is worth around 2,300.00, while gold is only worth 1,253.60. Gold is considered to be one of the most stable forms of currencies, but if bitcoin can gain some stability it may be a good competitor to gold. The point of the matter is, if you’d invested in bitcoin from the start, it would have paid off extremely well.