Bitcoin: strives to make billions but could end up with fool’s gold
Few people have managed to crack the codes needed to extract bitcoins from the 21 million locked inside the mathematical problems set up by its creator, Satoshi Nakamoto.
Those who have utilized enough computer power and code-cracking know-how can now consider themselves rich that the value of one singular bitcoin had maximized from USD $753 last December 2016 to around USD $10,000. The rest have deployed huge amounts of energy and time for no return.
Will it go down as a moment in history when an asset was mined, some people got rich and some others didn’t?
The ambitions for bitcoin meant the creating of a new currency which must be taken more seriously. In the past 18 months, Bitcoin has risen from success to success and is thought to have encouraged thousands of speculators, many including investors. Thousands more are expected to be sucked in the next 18 months. This is due to mainstream financial exchanges striving to host bitcoin as a tradeable asset or list derivatives of bitcoin on the training boards.
The concept behind bitcoin is that like any commodity, once discovered became increasingly difficult to extract.