Why Money is not really Money by The Outlaw Micheal Tomsik

FACTS ON BITCOIN:

Bitcoin was invented by an unknown person around 2008 or possibly by a group called Satoshi Nakamoto. The origins of bitcoin is unknown but really began being used in 2009.

The reason the Bitcoin was invented is a mystery in itself. Maybe the person wanted a different type of money, or maybe it was a revelation, or maybe it was found all by accident, or was it a rebellion. 

The true story may never be uncovered because no one really knows exactly who invented Bitcoin or why.

The history tells that Bitcoin may have been part of a community known as Cypherpunk.

Many people believe Bitcoin was invented as a way to legally cover up transactions that would involve illegal crime activity. Bitcoin through the years has been related to some investigations of fraud, illegal criminal activities, and other illegal activities.

Whatever the reason was today Bitcoin is considered by many as a great investment.

CRYPTOCURRENCIES IN 2021:

Cryptocurrencies since than have become a new way of money for many people and with billionaires like Elon Musk who owns Tesla investing millions of dollars into the system and many foreign countries, and even some credit card companies and other places in the USA accepting it as money an argument can be made it is money.

As of currently Bitcoin is legal in the US, Japan, and the UK, along with some other countries.

There is a trick however most all government agencies in the US that work with our money including the IRS or Treasury Department, do not consider Bitcoin or Cryptocurrencies as money. 

So if Bitcoin or Cryptocurrencies are not money how is it that they are making people very wealthy, and why are people and companies using them?

Bitcoin was deemed a form of money under the Financial Services Laws.

There is no real money to handle all the Bitcoin or Cryptocurrencies are all digital money. 

There is no need for a bank, transactions are between the two parties or more for the exchanges.

These Banks in the US are accepting bitcoin and cryptocurrencies.

Chase Bank and Citibank 

News in 2020 and 2021:

As of December of 2020 the US Treasury Department was planning a crack down on Bitcoin and cryptocurrencies. The US Treasury Department would like more requirements, and records kept on the use of the Bitcoin and other cryptocurrencies.

The truth is the US Government has made it clear Bitcoin and cryptocurrencies are most likely here to stay. Since the start in 2008 the money that is not really money has gained popularity, recognition, and has been defined as a form of money.

What is Bitcoin worth:

1 Bitcoin currently is worth $47,958.70 in US dollars.

Is Bitcoin worth the investment: 

There is an argument that can be made about the investment and use of bitcoin and cryptocurrencies. Many predict the value only going up but there are also people and investors that believe at some point bitcoin and cryptocurrencies will fade away like dust. I recommend you research and make your own decision on the whole idea of bitcoin.

Is there a limit on bitcoins or cryptocurrencies:

Originally there was 21 million bitcoins, according to most records 18.4 million have been mined, and only 2.6 million are unmined. 

Research shows it would take 120 years to mine the rest of the bitcoin.

How to mine Bitcoin:

One way to get bitcoin or cryptocurrencies you can set up a account on an exchange. 

Become a miner that will require a bitcoin wallet, encrypted online bank account, and look for software called GUIMINER.

MY ADVICE:

Research how to mine bitcoin and cryptocurrencies.