Wait what is inflation, and why do I care?
To put it simply, inflation is the rate of increase in prices over a given time period. This trickles down in ways that we all feel in our pockets. Every year the money we hold loses a certain amount of value. So sitting money actually loses you money more often than not. Traditional currencies are more susceptible to inflation due to not being backed by gold anymore along with money other reasons. Many people take this information and decide they want to take action. After searching different investment options many people land on Bitcoin. The OG cryptocurrency, whos network was launched in 2009 has stood the test of time. At the time of this post Bitcoin boasts a price tag of $43,499.10 and it shows signs of possible future strength.
Bitcoin is BUILT DIFFERENT
The anonymous creator of Bitcoin Satoshi Nakamoto had a dream to create a currency on the blockchain with full transparency. But at the same time he wanted it to gain momentum and increase in price over time. He may have found out how to do this with Bitcoin. Bitcoin has an increasingly hard algorithm that requires specialized equipment to mine. Every four year Bitcoin has a halving and this means the amount of Bitcoin mined for each block is cut in half. This is one was that Satoshi Nakamoto intended on keeping its momentum up. Another way is Bitcoins limited supply. Every day more people are buying and using bitcoin and unlike many traditional currencies it will never mint more tokens. It's actually not even possible. Only time will tell us if he was right but with the original price being $0.05 and inflating to over $60,000 at its all time high, he may be on to something.
Potential risks
With any investment there is always risk involved. As well as Bitcoins great days it has also seen its share of rough day as well. That's why this is not financial advice. As easily as it can explode and make many people very happy, it also has a downside.
Bitcoin mining
Mining Bitcoin can be VERY expensive and take a lot of space and equipment, making it harder for a normal day to day person to mine Bitcoin. One way that I have gotten into the game with Bitcoin is by mining it through my PC. I use Cryptotab Pool. You can buy hash power as well as my favorite buying NFTs backed by real hash power. When I started my journey with Cryptotab I was utilizing their browser extension to mine on my gaming PC. It grew me the Bitcoin to use to buy some hash power for the next 2 years. When I bought the hash power it was bought with Bitcoins price at just under $19,000 US. This mean that now all of my earning are double my original projected returns. Also the NFTs that I purchased are worth as much as 25x my initial buying price and have been earning me Bitcoin every second for over 6 months. I payed around $250 and have taken out over $1500 and will continue to earn for a long time to come. I can not guarantee you will have the same experience and I also don't work for Cryptotab, however this has been pone of my best performing investments of 2023 and has made me a fortune in a short time. Again this is not financial advice but I'm posting this becasue I noticed A lack of information about Cryptotab on YouTube to use as reference. So if this has been helpful please comment below and I will go more in depth with how it works and what you can expect.
Overall I love Bitcoins mechanics and what I have shared is only the very basics, please do your own research and thank you for reading this content I hope it has helped you understand how bitcoin can change the investing world forever. If you would like to join Cryptotab and start mining for free or invest in any of their ecosystems, I will leave my link below please consider using it if you found this helpful.
https://cryptotabbrowser.com/28640128
At the time of this post I have earned 0.03174329 BTC From the NFT mining alone on Cryptotab Pool. It is crazy. That equates to just under $1400 US at the time of writing this.
Thank you for reading and have a great day!
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Mining Image by Лечение Наркомании from Pixabay
Bitcoin Image by Aaron Olson from Pixabay
Thumbnail Image by 3D Animation Production Company from Pixabay