It seems like yesterday, but it’s been 9 years ago today since that first Bitcoin block was mined. It paid out a whopping 50 BTC compared to today’s 12.5 BTC payout per block. That 50 BTC is worth over $700K right now and would be a nice little nest egg if you mined it and held. Happy Birthday, Bitcoin!
I already warned everyone about BitCoin but which alternatives do we have? We have Monero! Privacy wasn’t one of Satoshi Nakamoto’s main concerns when he created Bitcoin. It was only covered briefly in the original Bitcoin Whitepaper, where he wrote:
… but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous.
In other words, every Bitcoin transaction is public – you can see which address sent Bitcoin to another address – but you don’t know who owns those addresses, unless that person announces it to the world.
BitCoin, I’m not really a fan. Well there several arguments why you shouldn’t trust the BitCoin hype. But before we start we need to know how a thief steals all the coins.
The UK and EU are going to start applying anti-money laundering laws to crytpcurrencies next year.
This means that online platforms that trade Bitcoins are going to have to do due diligence on their customers and act as a watchdog for transactions that might be questionable.