The History of Digital Coin
Digital coins are a form of cryptocurrency, meaning they are encrypted codes based on blockchain technology. They operate independently of a central bank or authority. The first digital coin was Bitcoin, which was created in 2009. The white paper for its technology was written by an unknown programmer called Satoshi Nakamoto in 2008.Since then, various digital coins have been created.
Some basics on its technology
Blockchain technology powers cryptocurrencies like Bitcoin. It’s basically a decentralized ledger or database that stores information that is chained together like blocks through encryption so that no one can change it.
The Volatility of Bitcoin Compared to Gold
Bitcoin is the most popular cryptocurrency, and its value has been skyrocketing in recent years. As of Sept 2021, one Bitcoin is worth more than $40,000. The price of Bitcoin is now an opportunity lost for ordinary folk. Plus, its value is also quite volatile as it can fall a lot based on what an entrepreneur like Elon Musk has to say or what a government like China can declare it to be.
Currency of the Black Market
The ethics of Bitcoin has always been a concern for investors and potential users alike—Bitcoin and other cryptocurrencies are used as the go-to payment on the dark web.
Choosing Real Gold Coins Over Digital Coins
When you compare gold coins to cryptocurrencies like Bitcoin, it’s clear that investing in gold coins offers more stability. Gold coin investments are tangible assets. A physical asset will always be worth more than an intangible one. With the current surge in ICOs, there is a tremendous amount of money flowing through the cryptocurrency market. Unfortunately, a lot of scams and fake projects are also infiltrating the market.
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