Things about bitcoin that we don’t know, Guide, Tips, Architecture

Things About Bitcoin That We Don’t Know

14 Jul 2021

Things About Bitcoin That We Don’t Know

There are many things that we know about Bitcoin. We are well-aware of the fact that this cryptocurrency is far superior to regular payment methods. It provides users with greater security, instant online transactions, and lets them void all unnecessary fees that are usually imposed by banks. Not only that, but its network stability, liquidity, and value make Bitcoin superior to other cryptocurrencies, as well.

Currently, Bitcoin is valued at around $40,000 and we also know that a majority of the users join its network so that they can trade with it and make a profit. But, instead of focusing on the things that we know about it, we wanted to share a word or two about some of the things about this cryptocurrency that remain a mystery and the only way to find out about them is to let time unveil them. Let’s check the details.

The Future of Bitcoin

The future of Bitcoin is one of the biggest mysteries concerning this cryptocurrency. Here’s why. Even though Bitcoin is accepted by the public, governments and banks still oppose it as they cannot control it. That is the reason why during its inception years, Bitcoin was mostly used on the black market.

Now, the good thing is that this cryptocurrency has come a long way because numerous companies, including global brands, accept it as a payment method, and its network counts over 5 million users. Many of them even register at reputable trading platforms such as https://bitcoinformula.net/  to trade it and make a profit.

While some would argue that the number of Bitcoin users will continue to rise and thus, governments will have no other option but to legalize Bitcoin, it is worth mentioning that both banks and governments are very powerful allies and are very influential in global financial politics and their word is usually the last one.

The Creator

Time will tell us whether Bitcoin will be legalized or not. But, one of the biggest mysteries that surround Bitcoin and most likely a piece of information that we will never know is the real identity of its creator. The one thing that we know about this individual is that he or she goes by the pseudonym Satoshi Nakamoto.

We’re not familiar with whether Satoshi is an individual or a group of people. If it is an individual, we don’t know if Satoshi is male or female, how old is he/she, nor the nationality. One interesting fact that we’ve come across is that Satoshi may be worth as much as $6 billion.

Will It Hit $100,000 in 2021?

One of the things that we will find out soon is whether this cryptocurrency has the potential to rise more in 2021. Even though Bitcoin has recorded a small drop in value recently and went from around $60,000 to $40,000, many experts think that the best is yet to come.

Throughout the years, halving events proved to us that Bitcoin reaches its peak value exactly one and a half years after they end. To remind you, the last halving event was held in May 2020. With that being said, there is a good probability that Bitcoin will reach a six-figure number in the fourth quarter of 2021.

Conclusion

As you can see, we’ll find out whether Bitcoin has the power to rise more soon, but there are many other factors that influence the other two mysteries. When we talk about its future, it is likely that we’ll have to wait for a long time to see how the situation will unveil.

As for the creator of Bitcoin, that is a secret that most of us have come at peace with and know that we won’t ever know the true identity of Satoshi Nakamoto.

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