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The status of Bitcoins in the US

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In 2007, the Japanese Satoshi Nakamoto started to work on a new project: Bitcoins. The goal of the project was to create an interactive currency that didn’t need regulation by a bank. Today, 1 BTC equals 221,5 $, but the Bitcoin’s value is constantly changing, as shown on the graph below.

The Bitcoin system works similarly to an email network. Once you have set up a Bitcoin wallet on your computer, you will receive a Bitcoin address. This address allows you both to make payments and  to receive payment from others. The advantage of Bitcoin is that these transactions are highly secure, being made anonymously and without the use of credit cards. Moreover, the number of Bitcoins that can possibly be created is limited to 21 million, which makes the currency more predictable.

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The only problem is that some Bitcoin users see Bitcoins more as an investment than as money and stock them instead of spending them. This storage of Bitcoins increasingly restrains transactions, which is obviously not the creator’s goal. In addition, Bitcoin was the victim of an attack during an exchange and lost 745,000 BTC.

Still, Bitcoin will continue to improve in the future due to its popularity: “There are hundreds of trustworthy and responsible companies involved in Bitcoin. These companies will continue to build the future of money by making Bitcoin more secure and easy to use for consumers and merchants."

by Hugo B.