what is Cryptocurrency and how dose it work
- Cryptocurrency is a digital or virtual currency in which photography is used to secure and control transactions
- Cryptocurrency is not issued by the government like traditional currencies (such as dollar and rupee) but cryptocurrency works on blockchain and it is also called chess technology.
- Cryptocurrency started with Bitcoin which was first created in 2008 by a person named “Satoshi Nakamoto”
Why did “Satoshi Nakamoto” Challenge the USA Goverment?
- In 2006, the banking system in America failed due to which the USA government was very upset and there was a lot of trouble in transactions due to which the people of USA suffered a lot, seeing which a person or organization named Satoshi Nakamoto challenged that government.
- And demanded to run a digital currency. When the government did not run a digital currency, Satoshi Nakamoto himself created his own currency which is known as Bitcoin.
- Bitcoin was started in 2008 but transactions through it started in 2009
The price of bitcoin was so low in 2009 that one had to pay 10,000 bitcoins to buy a burger
Is Satoshi Nakamoto Still active today?
- No, Satoshi Nakamoto distanced himself from the Bitcoin project in 2010 and there has been no public communication from him since. His identity remains a mystery to this day.
How many billion dollars worth of Bitcoin did Satoshi Nakamoto sell?
How many billion dollars worth of “Bitcoin” did “Satoshi Nakamoto” Sell?
- Satoshi Nakamoto sold Bitcoin worth $87 million by 2024, his network is worth about $87 million
