What is Bitcoin?
Bitcoin is an unseen introducing currency in the world. Bitcoin
is launched on January 3 in 2009 by Satoshi Nakamoto. Satoshi Nakamoto was born
in Japan on 5 April 1975. This time, he is 46 years old. Bitcoin is the world’s expensive
cryptocurrency. In April 2021, One bitcoin is equal to $57000 dollars. Bitcoin
is very risky for small entrepreneurs. Bitcoin has reached high prices in the last 4years when the world’s rich people started investment in digital
cryptocurrency. That is why people trusted Bitcoin and became a very
expensive currency in the world.
what is the interesting history of Bitcoin?
Do you know Laszlo Hanyecz? If you don’t know about Laszlo Hanyecz
that I will tell you. He is the first man in the world to bought two pizzas
with 10k Bitcoin from papa John's. it was the time of 22 May 2010, when bitcoin
like a small plant. Therefore, this day called Bitcoin Pizza day. Laszlo Hanyecz
has no chance to recover this loss after 10 years. He has no regrets but he is very happy to
become a part of history. Whereas, he knows if has 10k Bitcoin in his pocket
that passed the whole life as a king. Now, this time Bitcoin considers as
digital Gold that is very precious than real gold. People feel some fear
during buying and selling Bitcoin because of the chance to decline at any time. As we
see this May, the rate of bitcoin is declining after the tweet of Elon Musk
rapidly.
why Bitcoin is declining?
Now, in May 2021 Bitcoin is suddenly going to decline
because of one tweet of the owner of the Tesla (electric car company) Elon Musk. He
said we are stopping the receiving of Bitcoin because of climate reservation. Before
this, after many reservations of climate experts, Tesla announced that Tesla cars
can be bought in exchange for Bitcoin. One month ago, Tesla bought bitcoins of $1.5
billion worth.
Bitcoin affects on people
Bitcoin will lose its popularity after Elon Musk's tweet.
Bitcoin's market value will fall sharply. If they want to invest in it, they
have to wait. Bitcoin falls has definitely started whenever the failure of
something starts. Bitcoin can consume people's precious capital. If people will
invest more in it. This would be very high risk. Remember, something can fall
on a person's tweet. When the Elon Musk organization gets out of its capital,
this currency will be buried in the ground. This is how a few people rich in
one night and now they will poor in one night. it will be a horrible dream.
Looks like the currency could lose its value in one or two months. Bitcoin will mostly affect the richest people in the world who were relying on it. Now, the richest people in
the world will lose most of their wealth. It is estimated, Bitcoin will lose
50% of its market share because new investors cannot invest in it. Now, looks
like how many people save their money and how many people invest further.
So far there is no guarantor to come for controlling the Bitcoin value in the market.
Elon Musk related article:
After this announcement, Bitcoin rates are declining by 10%.
Similarly, the shares of Tesla are also declining. Elon Musk says, digital
currency is a good idea but we have some reservation of coal mining issues of
Bitcoin transaction. Now it is clear after the owner of Tesla chief Elon Musk,
big industries and entrepreneurs lost the trust of Bitcoin cryptocurrency. It
was the main reason to decline the rates of Bitcoin.
But, he also says, we will not use our Bitcoin until converting
sustainable energy.
The second reason is the Central Bank Republic of Turkey
The Second blame is on Turkey's central bank of republic Turkey.
The bank banned the payments in bitcoin digital currency. The bank has several reservations
about supervision and central authority regulations for crypto assets.
If the bitcoin currency falls rapidly then the world economy
will affect badly. A Large number of people become bankrupt. It is a chance to
failing the cryptocurrency system. It is not a regular system in the world. Such these
currencies are causes of the failure of the world.
Let’s see what will be the future of Bitcoin. I want to eat
pizza for a Bitcoin. It is history that Laszlo Henyecz bought two pizzas of 10k Bitcoin in the initial stage.
China is third reason to decline Bitcoin
