This heading “World's biggest cyber attack sends countries into 'disaster recovery mode'”, started my Bitcoin interest and more than the virus it was bitcoin as payment method that caught my attention, it basically showed how secure bitcoin is and is untraceable and private it is.
Just imagine a hacker asking for $300 to unlock your computer infected with the ransomware, called WannaCry, which locks down files on an infected computer and asks the computer's administrator to pay in order to regain control of them. The exploit was leaked in April 2017 as part of a trove of NSA spy tools.
Until this event in April 2017, bitcoin was a fringe cyber coin that I didn't understand, now it had a back end that is secure and private and for me it started my research into bitcoin and crypto currencies in general.
The blockchain behind bitcoin is a world changing bit of software, it is compared to the Internet, Railways, the industrial revolution and the Ford motor car etc.
All major banks are now programing with the blockchain and it will change the way we view money and how money is transferred from person to person and B2B even government's and countries, most banks take anywhere up to a week to transfer money form one bank to another, most take 4-5 working days, compared to Bitcoin at worst takes 1hr maybe two
If you look at a bell curve, we are now at the beginning of the curve upwards, approx. half way up and it is a wild ride, Bitcoin has gone from a few cents to over $10,000 AUD in under 10 years, quicker growth then all major multi billion dollar companies worldwide, its market cap is $148,884,688,219, that is billion dollars USD, all crypto currencies total Market Cap: $282,364,074,139 that is over a quarter of a trillion dollars USD and most of its growth has been late 2016-17
So can you see the potential of this amazing new blockchain crypto currency opportunity, it is mind boggling and it’s a wild ride, worth every second, the potential is unlimited and I want to be part of this worldwide movement
What is Bitcoin in a nutshell
Small wonder that Bitcoin emerged in 2008 just after Occupy Wall Street accused big banks of misusing borrower money, duping clients, rigging the system, and charging boggling fees. Bitcoin pioneers wanted to put the seller in charge, eliminate the middleman, cancel interest fees, and make transactions transparent, to hack corruption and cut fees. They created a decentralized system, where you could control your funds and know what was going on.
Bitcoin Transactional properties:
1.) Irreversible: After confirmation, a transaction can’t be reversed. By nobody. And nobody means nobody. Not you, not your bank, not the president of the United States, not Satoshi, not your miner. Nobody. If you send money, you send it. Period. No one can help you, if you sent your funds to a scammer or if a hacker stole them from your computer. There is no safety net.
2.) Pseudonymous: Neither transactions or accounts are connected to real world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses.
3.) Fast and global: Transaction is propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn’t matter if I send Bitcoin to my neighbor or to someone on the other side of the world.
4.) Secure: Bitcoin funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme. A Bitcoin address is more secure than Fort Knox.
5.) Permissionless: You don’t have to ask anybody to use cryptocurrency. It’s just a software that everybody can download for free. After you installed it, you can receive and send Bitcoins or other cryptocurrencies. No one can prevent you. There is no gatekeeper.
Now to answer your question of “What is the best cryptocurrency to invest in right now?”, I need not to tell you again that it’s “Bitcoins”. If you need assistance in placing profitable Bitcoins investments, contact customer service RCHS via rehabculture@protonmail.com today.
Bitcoins! Bitcoins!! Bitcoins!!!