Norwegian student Kristoffer Koch buys $27 in bitcoin in ...

Cryptocurrency Investing

Cryptocurrency Investing
This article is provided for informational purposes only. Your decision to invest in cryptocurrency cannot be made on the basis of this text.
At the time when cryptocurrencies gather pace and many new altcoins appear, it seems hard to decide which one to choose for the investment. There are some notions that can help to make a decision.
https://preview.redd.it/49vonh8kv1y31.jpg?width=1024&format=pjpg&auto=webp&s=b6b1ec1e200632fedc1e56a7af8f4d5139852ce6
What affects the value of cryptocurrency?
The price of cryptocurrency depends on different factors. First of all, the basic economic principle of demand and supply works here. High demand for limited coins will raise their prices. The more coins are mined, the harder it is to get new ones. As a result, they become more precious.
Usefulness of coins also matters. When people understand that they can solve specific cases using cryptocurrency it may be in demand. For this reason, DASH became famous in countries which suffer difficulties with official banking system.
Mass media and historical events affect the value of cryptocurrency too. If negative publicity appears or the government puts a strict regulation against the use of coins, their price goes down. It works the opposite way too. Microsoft started accepting BTC as a payment method in 2014. They set an example for many other global companies and promoted the cryptocurrency.
Rise and fall
As it has already been mentioned, notable cases influence the market. In 2013 the Bitcoin price raised to 266$ but crashed and it costed 109$ in October. It happened because of the Silk Road arrest. This anonymous trading floor sold illegal goods and commonly used BTC for getting payments.
Cryptocurrency market has capped the climax several times in 2017. The price of BTC was growing from April and in the middle of December gained its maximum reaching 20 000 dollar mark. Meantime the price of BTC was close to 11 000$ at the beginning of September 2019 but came down to 8 000$ at the end of the month.
Coin market capitalization
Cryptocurrency capitalization is an integrated cost of all issued digital coins at the market. US Dollar usually serves as a monetary indicator. This characteristic helps to understand if cryptocurrency is attractive to invest in or not.
Two main factors affect the capitalization. One of them is a coin emission (the amount of coins in turnover) and another is a coin rate. In most cases, the emission always grows because of the mining process. The more coins have been mined the harder to get some new ones. This process affects the rate too. For example, this scheme works with BTC.
There are some cryptocurrencies (such as NXT) with initial emission. Capitalization here is directly related to the rate and market activity because the total amount of coins is unchangeable.
Who risks nothing, gains nothing?
When one tries to choose cryptocurrency for the investment, attention should be paid to its capitalization. High level of capitalization tells about better market fluctuation tolerance of the currency. It is more stable but a rapid increase in the rate can not be expected. On the other hand, assets with lower capitalization show significant swings in a short period of time.
Famous quotes
“It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies.” – Eric Schmidt, Executive Chairman of Google “Bitcoin is a technological tour de force.” – Bill Gates, Co-founder of Microsoft
Interesting fact
One of the world’s most famous and successful investment in cryptocurrency was made by Norwegian student Kristoffer Koch in 2009. He got to know about bitcoins while he was writing a thesis on encryption. Kristoffer purchased 5 000 bitcoins for 150 Krones ($26.60) and forgot about them soon afterwards. “Cryptography and computer security interests me: I’m a technical guy, not an investor. So I just bought a few at that time.” – said Mr. Koch. In 2013 cryptocurrency was vividly discussed in mass media and it made the Norwegian remember about his investment. The idea of how much his coins had come to be worth struck him. 150 Krones turned into 885 000 dollars and some part of this money was used to buy a spacious apartment in a prestigious district of Oslo.
Cryptocurrency investing can be really profitable. It bring its benefits if one takes into account all moments which influence the market and stays aware of changes in this sphere.
No matter which cryptocurrency you choose to invest in, you can always exchange one coin for another using StealthEX. It is an anonymous and limitless cryptocurrency exchange with the top concern about user’s privacy.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
submitted by Stealthex_io to NewbieZone [link] [comments]

Cryptocurrency Investing

Cryptocurrency Investing
This article is provided for informational purposes only. Your decision to invest in cryptocurrency cannot be made on the basis of this text.
At the time when cryptocurrencies gather pace and many new altcoins appear, it seems hard to decide which one to choose for the investment. There are some notions that can help to make a decision.
https://preview.redd.it/i390wllao1y31.jpg?width=1024&format=pjpg&auto=webp&s=edf040c91bbb928dad681c9c091733475bb00139
What affects the value of cryptocurrency?
The price of cryptocurrency depends on different factors. First of all, the basic economic principle of demand and supply works here. High demand for limited coins will raise their prices. The more coins are mined, the harder it is to get new ones. As a result, they become more precious.
Usefulness of coins also matters. When people understand that they can solve specific cases using cryptocurrency it may be in demand. For this reason, DASH became famous in countries which suffer difficulties with official banking system.
Mass media and historical events affect the value of cryptocurrency too. If negative publicity appears or the government puts a strict regulation against the use of coins, their price goes down. It works the opposite way too. Microsoft started accepting BTC as a payment method in 2014. They set an example for many other global companies and promoted the cryptocurrency.
Rise and fall
As it has already been mentioned, notable cases influence the market. In 2013 the Bitcoin price raised to 266$ but crashed and it costed 109$ in October. It happened because of the Silk Road arrest. This anonymous trading floor sold illegal goods and commonly used BTC for getting payments.
Cryptocurrency market has capped the climax several times in 2017. The price of BTC was growing from April and in the middle of December gained its maximum reaching 20 000 dollar mark. Meantime the price of BTC was close to 11 000$ at the beginning of September 2019 but came down to 8 000$ at the end of the month.
Coin market capitalization
Cryptocurrency capitalization is an integrated cost of all issued digital coins at the market. US Dollar usually serves as a monetary indicator. This characteristic helps to understand if cryptocurrency is attractive to invest in or not.
Two main factors affect the capitalization. One of them is a coin emission (the amount of coins in turnover) and another is a coin rate. In most cases, the emission always grows because of the mining process. The more coins have been mined the harder to get some new ones. This process affects the rate too. For example, this scheme works with BTC.
There are some cryptocurrencies (such as NXT) with initial emission. Capitalization here is directly related to the rate and market activity because the total amount of coins is unchangeable.
Who risks nothing, gains nothing?
When one tries to choose cryptocurrency for the investment, attention should be paid to its capitalization. High level of capitalization tells about better market fluctuation tolerance of the currency. It is more stable but a rapid increase in the rate can not be expected. On the other hand, assets with lower capitalization show significant swings in a short period of time.
Famous quotes
“It is not a speculative investment even though it is being used as such by other people. As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollars, Euros and Chinese Yuan which in the long-term devalues these currencies.” – Eric Schmidt, Executive Chairman of Google
“Bitcoin is a technological tour de force.” – Bill Gates, Co-founder of Microsoft
Interesting fact
One of the world’s most famous and successful investment in cryptocurrency was made by Norwegian student Kristoffer Koch in 2009. He got to know about bitcoins while he was writing a thesis on encryption. Kristoffer purchased 5 000 bitcoins for 150 Krones ($26.60) and forgot about them soon afterwards. “Cryptography and computer security interests me: I’m a technical guy, not an investor. So I just bought a few at that time.” – said Mr. Koch. In 2013 cryptocurrency was vividly discussed in mass media and it made the Norwegian remember about his investment. The idea of how much his coins had come to be worth struck him. 150 Krones turned into 885 000 dollars and some part of this money was used to buy a spacious apartment in a prestigious district of Oslo.
Cryptocurrency investing can be really profitable. It bring its benefits if one takes into account all moments which influence the market and stays aware of changes in this sphere.
No matter which cryptocurrency you choose to invest in, you can always exchange one coin for another using StealthEX. It is an anonymous and limitless cryptocurrency exchange with the top concern about user’s privacy.
Just go to StealthEX.io and follow these easy steps:
  • Choose the pair and the amount for your exchange. For example, BTC to ETH.
  • Press the “Start exchange” button.
  • Provide the recipient address where the coins will be transferred.
  • Move your cryptocurrency for the exchange.
  • Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]
submitted by Stealthex_io to StealthEX [link] [comments]

Why I believe we're on the cusp of the 3rd great Bitcoin bubble

We've recovered from the last crash
You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine.
Interest in buying Bitcoins has gone up to its highest point since the last bubble.
There's a similar spike in general interest. Partly helped along by the Silk Road news.
The network is being used at the same rate as during the last bubble.
The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday.
Lots and lots of new businesses now accept Bitcoins
One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
Charities and others are taking donations
The first Bitcoin I ever spent was to donate to Wikileaks. More and more places are setting up Bitcoin donation buttons, because why not?
The $27 story is going massively viral
I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
The first Bitcoin ATM has been installed
Easier way for people acquire Bitcoins with cash. Lots of free publicity. More machines are on their way and will generate more and more news.
Institutional money is coming
Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Interesting new developments
Cool things that didn't exist before the last bubble (as far as I remember).
Governments are explicitly saying it's not illegal
More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges
Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest.
This time around there are more exchanges in more countries, and not a single point of liquidity.
submitted by DTanner to Bitcoin [link] [comments]

How many here will say Happy New Year

2017 is Virtacoins year to make great things happen. Let's all pull together to do our part.
Who wants to be a millionaire? That could possibly lead to a cheerful chorus of “me” almost anywhere. The stories of rags to riches are inspirational stuff.
When it comes to Virtacoin there are many reasons to believe that the cryptocurrency has the power to create wealth. Even small amounts of Bitcoin bought years ago have made people incredibly wealthy. In December of 2015, The Guardian reported the case of Kristoffer Koch, a Norwegian who had purchased Bitcoin worth $26.60 in 2009. Koch acquired a total of 5000 Bitcoins for his investment, which at last year’s rate was worth $886,000.
In 7 years he made $126000 dollars a year. Not too shabby.
Hold on to all your virtacoins.
The first rule of any investment is to buy and hold. You could also promote Virtacoin yourself to the best of your ability. (Friends & family etc.) This will help Virtacoin gain in value which will in turn help you become a Millionaire..
Who would not be tempted to cash in some of their gains and make a quick buck and spend it on a holiday or buy their dream house?
This is understandable as it is difficult for people to put off the pursuit of happiness if they can pursue it today. This is a great challenge, not only for Virtacoin investors but almost everyone holding an asset.
It would be completely foolhardy though not to take some profits (Your initial investment) and let the rest gain in value. You should hold on to the majority of your Virtacoin if you do intend to take advantage of the gains in the currency. I believe 2017 is Virtacoins year to reward us for our patience.
Remember Koch, even he forgot about the Bitcoin he had purchased nearly six years prior. It is best that you forget about your holdings and have patience as well if you want to make some serious money.
Keep them safe
If you have Virtacoin, remember to keep them safe.
Remember, do not keep your wealth lying around with other people, such as in an exchange. Also, make sure that you have a trustworthy person who has access to your Virtacoin, so that if something happens to your mortal frame, at least your heirs can benefit. This is elementary stuff.
Don’t lose your Virtacoin, the more value that Virtacoin gains, the higher the chances that you may become a victim of theft.
Let us go back to the case of Koch, who forgot his password and nearly lost access to all his fabulous wealth. Remember your passwords people and keep your virtacoin safe.
How much Virtacoin will make you a millionaire
This is certainly a difficult question to answer.
Unfortunately, there are no guarantees in life.
However, there are fables and stories to keep your spirits up. Back in 2010, a Florida-based computer programmer by the name of Laszlo Hanyecz paid for a pizza with 10,000 Bitcoin that he had mined. Today, that pizza would be worth nearly $9 million 520 thousand dollars. It took six years. Can you wait that long.
The exponential growth in Bitcoin, therefore, makes many people hopeful. We can only say that the early believers had it easier and the cost of delaying your entry into Virtacoin will only make it harder for you to become a millionaire.
To-Day you can buy 1 million Virtacoin very very cheap, Think about how much 1 million Virtacoin could cost you in a year or so. Do you really want to wait.
The moral here is that everyone should have some exposure to cryptocurrencies, particularly Virtacoin. After all, if Mr. Koch did not believe in Bitcoin or buy them in the first place, he would have made no fortune. Happy investing and, quoting from a cheesy Hollywood film, “may the odds be ever in your favor.”
Happy New year from me to everyone reading this. Virtacoin will find its place in 2017.
PS>> There are 172 members here, lets everyone leave a happy new year and a message of hope for the rest of us. I believe 2017 is going to be a very very great year for Virtacoin. Who else here thinks the same way. Stand up & be counted.
submitted by Bwealthy2 to VirtaCoinFoundation [link] [comments]

Persuasive essay I wrote on why you should use Bitcoins

Hey guys, first time poster here. I wrote a persuasive essay about bitcoins for my final on speeches. Could you guys please fact-check me on what I wrote? Thank you!
Crypto-currencies are a new form of money that are being used to buy products and services anonymously online. This online money isn't tied to a currency, called fiat currencies, or controlled by a government. Bitcoins and other altcoins, which are types of crypto-currency, are tax free and have no transaction fees. Altcoins are to Bitcoins as pesos are to dollars. Every transaction is recorded by a ledger; however, every exchange of currency is anonymous. Online, you want to protect your identity, which makes Bitcoins the perfect currency for transactions on the internet. You wouldn't want to give a stranger on the Internet your credit card information or even your name.
Now I will give you some background on how Bitcoins are created. Bitcoins are produced by a procedure called mining. Mining is when your computer solves complex math problems. As time goes on and more Bitcoins are mined, the difficulty and time it takes to mine this currency increases. When mining Bitcoins first started, the difficulty was so low that inexpensive computers were able to generate a profit. Over time, the difficulty increased and you had to use the best computers to stay competitive and be cost-efficient. Today, people use specialized kind of chips called AISCs; chips programmed only to mine Bitcoins. It takes a somewhat significant investment to mine Bitcoins at a profitable rate which helps keeps the price high. Bitcoins are mined in blocks currently containing twenty-five coins. This amount started at fifty, then went down to twenty-five, and will go down by half until the reward becomes slightly more than. There are currently over fourteen million Bitcoins in circulation, currently worth about 228 dollars a piece(“BTC Market Price”). Bitcoins will stop being mined when there are almost 21 million in circulation. This is to prevent the Bitcoin from becoming worthless due to inflation. (Satoshi Nakamoto)
One of the main reasons people buy, spend, and save Bitcoins is because they provide anonymity compared to paper currency, online money services such as PayPal, and credit and debit cards. It allows you to patronize stores without letting them know who you are. Many people, even in this age of online shopping, are hesitant to give out personal information on the Internet. It's actually a good thing to be afraid to use your debit or credit card online because identity theft is a very common occurrence. I'm not trying to scare you into never using any form of payment other than Bitcoins, but it is better to be safe than sorry. If you use Bitcoins, you won’t have to release personal information online.
If you got into bitcoins early enough, you would have made an unreal amount of money. In 2009, a man named Kristoffer Koch bought about twenty-seven dollars worth of bitcoins, about 5,000 at the time. He forgot about then until 2013, where he discovered the Bitcoins he owned were worth 886,000 USD (“Kjøpte Bolig for Internettpenger”). He made a 33000% return on his investment. While returns today aren’t nearly as good, the Bitcoin is still a currency that can be traded similarly to stocks.
You may be thinking, "But Ryan, Bitcoins are only used to purchase illegal goods and services from shady websites!" While it is true that people are able to buy drugs and other illegal goods, those purchases only account for an estimated half a percent of all purchases made. Considering the transaction volume of Bitcoins is about 10 billion USD per year, only 50 million of this is used to buy drugs. The illegal drug trade accounts for about one percent of the world’s Gross Domestic Product, which makes the Bitcoin drug market just a drop in the ocean.
Bitcoins are the best currency to use online as they wont give away any of your personal information. This is an incredibly important aspect of the Bitcoin. They are a currency that can be used to buy almost anything if the person accepts them as a form of payment. Government controlled currencies have much less freedom attached. They are subject to taxation and all kinds of fees can apply, such as transaction or exchange fees. Bitcoins are unable to be taxed unless the person or company chooses to report the earnings because Bitcoin transactions are unable to be tracked by the government. However, all transactions are public, which makes the currency much more transparent. To support Bitcoins, you should purchase Bitcoins and make purchases with them. If more and more people use Bitcoins for transaction fee and tax free purchases, the amount of vendors that accept Bitcoins will increase. Please purchase and spend Bitcoins to support best currency for online transactions.
If you took the time to read all of this and post some criticism, thank you!!!
Edit: Added some edits suggested by busterroni
submitted by ryanlaw to Bitcoin [link] [comments]

Norway Man bought Cryptocurrency Bitcoins $27 in 2009 Near 1Milion Return 2013 挪威男子09年買入比特幣13年獲近百萬美金 ILS sont DEVENUS RICHES avec des bitcoins - Espoir Der Börsentanz zwischen Bären und Bullen How safe are Bitcoins as an investment? Bitcoin (BTC) und Kryptowährungen als Altersvorsorge? Schnapsidee oder Chance

In 2009, Norwegian student Kristoffer Koch was procrastinating from some school work when he came upon an offer to purchase some Bitcoin, the unregulated online currency that he (as well as much ... Oslo-based Kristoffer Koch studied Bitcoin in 2009 as part of his undergraduate thesis and bought the equivalent of $27 in digital currency and then promptly forgot about this currency exchange. Bitcoin gained infamy four years later, mostly because of its use in the underground scene. The digital currency does have its advantages, in terms of encryption and anonymity. Therefore, while being a ... Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. Norwegian Kristoffer Koch bought 150 kroner or £15 worth of bitcoins in 2009 as part of his thesis, and his collection is now worth 5,000 bitcoins or £584k. FOUR years ago Norwegian student Kristoffer Koch spent 150 kroner ($26.60) on a little-known internet currency called bitcoin. It was 2009 and he was working on his thesis about encryption when he came across the mysterious currency. He bought some for fun, then forgot about it. Fast-forward to April 2013, when the value of bitcoins started to soar. The internet currency received widespread ...

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Norway Man bought Cryptocurrency Bitcoins $27 in 2009 Near 1Milion Return 2013 挪威男子09年買入比特幣13年獲近百萬美金

En 2009 un étudaint norvégien Kristoffer Koch acheta 5 000 bitcoins à juste 18 euros contre l'avis de sa petite amie. En 2013 quand le bitcoin a dépassé la valeur de 1 000 dollars, son ... Bitcoin is probably the most high profile digital currency on the market thanks to a slew of headlines. News in October 2013 that Kristoffer Koch had an unexpected windfall of $850,000 from a $22 ... Ich benutze Coinbase und Coinbase Pro, Warum weil das für mich der der sicherste und stabilste Exchange ist (Exchange = Marktplatz wo du deine Euro in Bitcoin, oder Ethereum umtauschen kannst ... Kristoffer Koch aus Norwegen hat bestimmt seinen Augen zunächst nicht getraut, als er sich den Wert seiner Bitcoins im April 2013 angesehen hatte. Eine Berichterstattung über die anonyme ... While you can’t turn back time and, just like Christopher Koch, spend a few bucks on Bitcoin and wake up wealthy four years later, you can still make a lot of money investing in cryptocurrencies ...

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