The Mysteries of Bitcoin.

Bitcoin was created by a mysterious person in January of 2009. Today I am going to try to unravel this mystery. How might you ask? By researching and using my imagination of course! I did some research on Bitcoin and discovered that Bitcoin is like a computer file that is stored in an “digital wallet” app on either your computer or phone. You can give bitcoins to other people. It’s basically a form of money you can be paid in bitcoins and you can buy things with bitcoins. I also found out that there is a thing you can do called “bitcoin mining” and it is where specialized computers have miners and the miner process every bitcoin transaction. Then they chain those transactions together in a “blockchain” as it is called. It takes about 10 minutes to “mine” a bitcoin. One bitcoin is worth 48,099.50 US dollars.

It has come to my attention that many people are curious about who created bitcoin and I have my theories. Satoshi Nakamoto is the supposed creator of bitcoin. But maybe this is just a name the real creator made up to hide his identity. I have a speculation that the creator of bitcoin is a millionaire if he wasn’t then where did he get all the money to put into the bitcoins. Sure people invest in bitcoin and that gives him money too. But, he needed a starting point right? The person who created bitcoin is obviously good at being anonymous. Otherwise we would know who he is.

Many people have invested in bitcoin and the creator gets money from that. Bitcoin is a loop the creator of bitcoin makes it so people could earn free money, but sometimes people invest in bitcoin which also gives the creator of bitcoin more money that he can do whatever he wishes with it.

How much money can you earn from bitcoin a day? I know many people besides myself have asked themselves this question. So I researched it. On average about 144 blocks are mined a day by one person. There are about 6.25 bitcoins in a block and if you do the math (1 bitcoin = 48,099.50 US dollars, so multiply 48,099.5 by 6.25 and then multiply that by 144) that would be about 43,289,550 US dollars made per day by one person. However bitcoin will not go on forever there are a limited amount of bitcoins and that amount is 21 million and so far only 18.5 million bitcoins have been found. Which leaves about 2.5 million bitcoins left that haven’t been found. My guess is that bitcoin will only last about another 4 years until the last bitcoin is found.

Now we can dive into the history of bitcoin. Like I said in the beginning bitcoin was created by an anonymous person in early 2009. This anonymous person calls himself Satoshi Nakamoto which many believe to be a fake name made up so his identity remained secret. More and more people have invested in and used bitcoin to make a lot of money. Nothing has changed much since then.

Bitcoin in my opinion is a brilliant way to earn lots of money. If you are broke, in debt or anything like that bitcoin is a great way to make up for that. It is easy to make money with bitcoin, especially when you mine bitcoins. There are many companies such as Microsoft Corporation. Visa Inc. NVIDIA Corporation. Mastercard Incorporated. PayPal Holdings, Inc. Square Inc. Advanced Micro Devices, Inc. and The Goldman Sachs Group, Inc. But there are many other companies that have invested in bitcoin.

References

https://money.usnews.com/investing/articles/the-history-of-bitcoin

https://www.coindesk.com/price/bitcoin

https://finance.yahoo.com/u/yahoo-finance/watchlists/top-crypto-bets/

https://www.buybitcoinworldwide.com/mining/

https://www.investopedia.com/terms/b/bitcoin.asp