Bitcoin and Ethereum Can Make You Millionaire Fast

You may have been hearing the buzz about bitcoin trade and cryptocurrency as of late, and you might be wondering what it is. Bitcoin and ethereum are a type of virtual currency that was first developed around 2008 when Occupy Wall Street called out big banks for misusing customer's money. Bitcoin developers sought to put the seller in charge as well as to eliminate the middleman. This would also mean cancelling interest fees and would make for a more transparent transaction. In a fairly short period of time cryptocurrency has gained popularity and is now being used by large jewellery companies as well as hospitals. Other big companies such as Expedia, Dell, Microsoft and PayPal accept it too. People can make all cryptocurrency transactions by check, wiring, or cash. Transactions are instant and happen within just a few minutes, and it doesn't matter where you are in the world because they happen in a global network of computers. It also turns out that bitcoin funds are very secure since they are locked in a cryptography system with each user having a private key, and only the owner of the key can send all cryptocurrency.

Bitcoin trade is where you exchange where you can exchange regular money for bitcoins or satoshis. Satoshis are the equivalent of our conventional money's cents. You can do this at a Bitcoin ATM or bitcoin exchange the best places to do this are BTER and CoinCorner. Another way to do this is through a classified service like LocalBitcoins. You can even offer your own services and products for bitcoin too through a site like Purse. Bitcoin works on a public ledger which is known as a blockchain. This is where every single transaction will be put into blocks. When a block enters into the system, it's put out to the computer network for validation which creates more security within the system. There's also a limit on the amount of bitcoin available which is 21 million which means that no new bitcoin can be released which would devalue the current bitcoin. Mining is done by the computer system to make sure that there is enough bitcoin to be released and this will also make it more difficult to mine it as time goes on meaning that the value of it will only go up. Currently, the bitcoin exchange rate is at around USD 10,000 equalling 1 BTC which is the abbreviation for bitcoin currency.

This video from Anie Johnson is a compilation of the views of some of the world's richest people on bitcoin. They are telling us that Bitcoin is currently the most accepted type of cryptocurrency and will become the standard. Most of them say that bitcoin and ethereum, which is another type of cryptocurrency are a huge deal and all of them have invested in it themselves. Of course, there will be ups and downs just like with any other emerging technology, but most of these people in the video believe that it's a positive thing that puts people in charge of their finances again without any intermediaries. Steve Forbes says that it's the payment system of the future. He says that the blockchain encryption that's behind bitcoin has a great ability to bring more of the world's population out of poverty than anything we've seen. That's very promising to hear, especially when many people live below the poverty level, even in the US and in Canada. For more information on bitcoin check out the entire video on YouTube and check out the links in the video's description for more details and how you can start your own bitcoin wallet.***