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5 Things You May Not Know About Bitcoin

Bitcoin is a digital currency which was created in 2009 by a group of developers under the name of Satoshi Nakamoto. There is no need of transaction fee while doing payment in this digital currency and also the person’s real identity need not be disclosed. There is no regulatory authority for this currency because banks are not needed in digital space for holding digital currency. Bitcoin reached a record high of $11000 and dropped to $9000 in just few hours. Here are some facts about Bitcoin you must know.

Energy Drain

Photo Credit : shutterstock

One can get Bitcoins by mining using computers but these consume a vast amount of energy to solve complex math puzzles. 25 Bitcoins are awarded for a successful mining. As per estimates, electricity used by an American household in a week is consumed for one mining.



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