Bitcoin started 2017 with a bang, j
umping above $1,000 for the first time in 3 years time. Since 2016 Bitcoin had a 125 percent climb and with this climb it defeated all other known bank currencies by far.
Bitcoin for those who still wonder, is a type of cryptocurrency that has no central authority and is not a part of any banking system, rather Bitcoin relies on thousands of computers across the world that validate transactions. By these transactions they are adding new bitcoins to the system making it a non- personal monetary but rather a digital monetary currency.
Currently the worth of 1 Bitcoin is $1,022 on the Europe-based Bitstamp exchange, This is the highest value, since the end of 2013.
Meanwhile in Venezuela, one of the countries suffering from hyperinflation, the largest Bitcoin exchange in the country called SurBitcoin is back operating at full capacity. The present economic collapse, failing banks and a 1600% inflation forecast for the coming year will make Bitcoin the only stable and invest worthy asset in Venezuela in the near future.
Lifehack finders Nice to Know: we will follow up this article shortly with a tips and tricks list on how to start mining for Bitcoins and the latest updates on the internet about how it is done.
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