The best and simplest definition for Bitcoin is this “Bitcoin is Money”. Yes, Bitcoin is the money of our generation and the future generations. Well, in the history of money, several object has been used to carry out transactions. Money in itself is any clearly identifiable object of value that is generally accepted for payment of goods and services and repayment of debts within a market or which is a legal tender. Bitcoin fulfills all of these. In the past, money has taken many forms like cowry shells, beads, precious metal, paper, and in our generation it is becoming digital in form of bitcoin and other cryptocurrencies.
Bitcoin is digital money; this simply means that unlike the previous form of money, Bitcoin is not anything physical. It is not physical yet more real than any form of money earlier used. It exists on a technology called Blockchain which helps to store all the information and transactions about all the Bitcoin that ever exist. The information on Blockchain can never be destroyed or manipulated. Also Blockchain cannot be controlled by one central body or government, making Bitcoin the best form of money to ever evolve. With Bitcoin, you are simply your own bank, as you can spend your money anytime, anywhere, with no restrictions whatsoever.
Recently Bitcoin has gained more popularity in the world, and even in Nigeria, people now choose to send money to their families and friends using this unique form of money. Young men and women working online now prefer to receive payment with Because of the advantage it has over ever dropping value of naira. With bitcoin you can invest for the future. For Nigerians, Bitcoin can serve as a high profit investment, due to the behavior of the Nigerian Naira in the foreign exchange market.
Last year 5 Bitcoins was worth $1,000, because each Bitcoin was about $200. The equivalent naira rate for 5 Bitcoins was about #220,00 because each dollar was worth #220 on the black market. Fast forward a year later, the same number of Bitcoins now worth about $2,915 since the value of each bitcoin has gone up from $200 to about $583, and the equivalent naira rate for 5 Bitcoins would now be #1,078,550. Can you imagine the profit margin.
HERE​ IS​ WHAT​ GREAT​ MINDS​ IN​ THE​
INFORMATION​ SCENE​ THINK​ ABOUT​ BITCOIN​
“Bitcoin is a technological tour de force.” –_Bill_ Gates​, Microsoft​ co-founder​
“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust” –
John​ McAfee​, Founder​ of​ McAfee​
"Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value" - Eric​ Schmidt​, CEO​ of​ Google​
NOW​ THAT​ WE​ KNOW​ THE​ VALUE​ AND​
POTENTIAL​ OF​ BITCOIN, HOW​ CAN​ WE​
MAXIMIZE​ THIS​ OPPORTUNITY​
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