Bitcoin is here to stay and is a game changer for the world economy and the world wide web.! Here’s 10 things you should know about Bitcoin right now! Read to the end to hear about how Bitcoin will lead the way to a new era!

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#1 There is only 21 Million Bitcoin available. 19 Million has already been issued. The desire for Bitcoin is increasing and we have seen this increase of the number of active Bitcoin wallets to well over 1M.

#2 Bitcoin is software - not a physical coin! It uses blockchain which involves thousands of computers validating transactions on the Bitcoin network. Each time there is a bitcoin transaction, it is recorded on the blockchain and validated by independent computers/servers known as miners. There are roughly 1M miners on the network and 2M Bitcoin left to Mine (as of Jan 2022).

#3 The Lightning Network will help speed up the Bitcoin network. This upgrade to Bitcoin’s network will allow digital applications to be implemented that help Bitcoin effectively integrate to the mainstream and resolve everyday tasks using Bitcoin. E.g online retail transactions and digital contracts.

#4 Can anyone set up another version of Bitcoin? Sure they can try, copy the code and fork Bitcoin. Others have tried with Bitcoin Cash and Bitcoin Gold, but failed to get any traction. Bitcoin is unique - as mentioned it has thousands of independent computers across the globe validating its blockchain, each time a chain is updated with information. If another version of Bitcoin was to be created it has to emulate these characteristics of being independent, open & transparent - also known as being Decentralized, which will be a very big challenge to implement, especially in a short space of time.

#5 Did you know if you had 10 Bitcoin in April 2013 you would have $2,000. if you had 10 Bitcoin in December 2017 you would have had $200,000. If you had 10 Bitcoin in November 2020 you would have $650,000. Imagine how much 10 Bitcoin will be worth in December 2025?

#6 Did you know 100,000,000 SATS is equivalent to one Bitcoin. In the future as the Bitcoin market cap increases, it will be difficult to purchase a whole Bitcoin due to its demand before it. People will only be able to buy a bit of bitcoin in the form of SATS, similar to how we went from owning bars to ounces of Gold. It is envisaged that one day 1 SAT will be equivalent to the price of a loaf of bread. Experts have suggested you should aim to own at least 1 bitcoin by 2030 as at this point it will be difficult get hold of one.

#7 Global Regulation of blockchain and Crypto is coming and will allow institutional and pension fund monies to flow into Bitcoin. This could be on the scale 5-10 Trillion dollars, pushing the price of Bitcoin to over half a million in the next few years. It will also reduce volatility due to the long term investment nature of pension funds and institutional investor strategies.

#8 The term ESG (Environmental, Social, and Governance) is being thrown about in the Bitcoin space recently as Bitcoin allegedly uses a lot of energy to function. However when you look at the energy outputs, it is not as much as the production of global fossil fuels, the airline industry or meat manufacturing. Saying all that Bitcoin Miners, who help to validate the network, have started to use hydro, and even volcano energy to produce power for maintaining Bitcoin servers, allowing Bitcoin to start to become an investable asset based on ESG mandates for pensions and institutional investors.

#9 Bitcoin will one day become the World Reserve Currency for online financial activities on the internet or at least be be backed by a physical asset to bring stability and trust, similar to how the dollar once was backed by gold in the 70s before its gold standard was removed and governments started printing more money and manipulating the economy.

#10 Every Bitcoin transaction is recorded on the blockchain and is verified independently.  This is why Bitcoin will ensure the financial industry becomes open and transparent, and reduce fraudulent activity on the internet

So, you are now closer to becoming a Bitcoin expert! Spread the good word! Good luck with your Crypto investing!

What else do you think readers need to know about Bitcoin?

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