# data[].attributes.headline
Welcome to my presentation about Bitcoin! 

# data[].attributes.subject
Welcome to my presentation about Bitcoin! 

# data[].attributes.body
Here you will find answers to questions like:
- What is Bitcoin?
- Why was Bitcoin created?
- How is a bitcoin created- how are there more today than when they first started?
- What are the advantages of using Bitcoin over a traditional currency?
- What are the disadvantages?
- How does mining Bitcoin work?
- Is it worth investing in Bitcoin now?

There is a lot of confusion surrounding what Bitcoin is, what it does, and why it even exists, or needs to exist. Prior to researching this topic, I knew nothing. I will also say that it is extremely hard to grasp at first. I will now let you know my findings in an attempt to give you a basic understanding of Bitcoin. When you get to the bottom of the page, you should have answers to the questions stated above.

# data[].attributes.body
To put it super simply, Bitcoins are money. You can buy things with Bitcoin, because they hold real world value based on the faith people have in the purchasing power of a bitcoin. One bitcoin is currently worth 6544 Canadian dollars, so you might say that people have 6544 dollars worth of faith per bitcoin in its value. Just like any currency, it is backed by a promise of being able to be traded in for a certain amount of real-world goods.

Say a bitcoin was created closer to its inception on September 30, 2013. It would only be worth $119.73, because the currency was quite new, and people didn't have a lot of faith in the purchasing power of bitcoin. Say a new bitcoin was created on December 11, 2017, it would be worth $17 060.55, because at that time, people had a lot of faith in the purchasing power of bitcoin.

Bitcoin can be said to be volatile, because the faith that people have in the purchasing power of Bitcoin is much more unsteady than the faith people have in the purchasing power of traditional currencies, like the Canadian dollar. That is why the value of a Bitcoin goes up and down so much- faith in it's purchasing power goes up and down a lot. As time goes on, if faith in the purchasing power of the Bitcoin becomes more stable, then the value will stabilize, and it will be considered less volatile.

I chose this video because it includes a fairly okay introduction into the world of Bitcoin, and all of the questions it raises about Bitcoin can be answered by the subsequent videos and websites, which go into a bit more detail.

# data[].attributes.headline
Video Number 2 - More Help With Understanding Bitcoin

# data[].attributes.subject
Video Number 2 - More Help With Understanding Bitcoin

# data[].attributes.body
Bitcoin is essentially a decentralized electronic payment system. This means that rather than being issued by a central agency or governing body like a bank, this currency is created by people out of thin air (much like banks are allowed to do when they write someone a loan), and transacted through the internet- directly from person to person- all over the world. It is decentralized because transactions are not verified or backed by a central governing body, and it is electronic because it exists entirely online.

# data[].attributes.attachment_link.title
Bitcoin: What is it? (video) | Bitcoin | Khan Academy

# data[].attributes.headline
Video Number 3 -  How a Transaction Works

# data[].attributes.subject
Video Number 3 -  How a Transaction Works

# data[].attributes.body
When you go to the gas station and buy a chocolate bar, you give them the money and you get the chocolate bar. This is a normal transaction- you, the clerk, and everyone standing around the cash know that you bought a chocolate bar, and how much you paid for it. With bitcoin, transactions are a bit different in that they are entered in a public ledger- a ledger that everyone on the Bitcoin network can see. But they don't see Harpreet paying Joel $2.05 for a chocolate bar, they see a bunch of numbers signifying the sender's identity sending a specified amount of Bitcoins to another set of numbers signifying the receiver's identity. This way, everyone on the network can see that someone sent someone else $2.05, but they can't see who they are or what it was for.

I included this video because it includes a lot of information about the nitty gritty about what goes on in a Bitcoin transaction. You could get actually a lot nittier and grittier, but I feel as though each of these videos could be an assignment's length in themselves, if we were to take time to explain the ins and outs of each aspect of the Bitcoin mechanics. To be honest, because of the length of time it would actually take to explain all of Bitcoin in depth, I'm actually only scratching the surface about how Bitcoin works in this assignment.

# data[].attributes.attachment_link.description
An introduction to the mechanics of bitcoins and an overview of how transactions take place.

# data[].attributes.attachment_link.description
The mechanisms by which the supply of bitcoins is controlled.

# data[].attributes.headline
Website Number 1 - The Advantages of Using Bitcoin Over Fiat Currency

# data[].attributes.subject
Website Number 1 - The Advantages of Using Bitcoin Over Fiat Currency

# data[].attributes.attachment_link.readable_text
Lately, bitcoins have become very popular. So many investors are trading bitcoins on a daily basis. The exponential growth that bitcoins experienced in 2017 is unrivaled. There was massive growth of cryptocurrencies in 2017 with about 1,100 different types of digital currencies in use as of December 2017.

People have realized that using digital currencies is more convenient in many different ways as compared to using fiat currencies. As compared to the normal currencies, transacting in has bitcoins very many advantages as discussed below.

1. Decentralized

This virtual currency is not regulated by any central authority. This means that the operations of bitcoins are influenced only by the buyers and the sellers. There is no third party that can manipulate it. It cannot be artificially inflated or devalued by banks or governments as they do with the normal currencies. Since there is no government influence in bitcoin trading, there is no fear among investors that the currency can be devalued to the detriment of the investor.

Only 21 million bitcoins will ever be in use at any given time. Bitcoins do not stand a chance of failing. For instance, if the economies of China or America collapsed today, the Yen and the US dollar would terribly suffer. Since it's a standard worldwide virtual currency, geo-politics have no influence on this currency.

2. Protection of Privacy

Bitcoin transactions do not reveal the identities of the transacting parties. However, the transactions are very transparent because the public ledger records and gives visibility of the transactions. The ledger provides information of how the bitcoins were exchanged identifiable only through wallet addresses.

With no personal identity information, more people prefer to transact using this virtual currency as no tracking can be done to an individual. Though some critics say that this promotes illicit payments, supporters on the other hand value this privacy. Making payments through the traditional methods such as banks require that you provide all your personal information which Bitcoins bypass.

3. Freedom of Transaction

There is no intermediary that controls how a person uses his or her bitcoins. Ordinary payments often have limits of transactions based on amounts or geographical locations. Traditional currencies can be frozen by intermediaries such as PayPal or banks. Some organizations can limit transactions that they feel are not favorable for them. This is not the case with bitcoins. Bitcoins give the users absolute freedom to buy or sell whatever they want with no restrictions at all. Whether your business is legal or illegal, you can still receive payments using bitcoins.

4. Easy to Use

Virtual currencies are very easy to use. Traditional currencies are often faced with challenges such as delayed transactions and inaccessibility to banks. You need to physically go to a bank in order to open a bank account. This complicates the entire process of payment. With bitcoins, you can receive or send payments from your mobile phone or computer at the comfort of your seat back at home. Unlike bank accounts that require money to open, downloading a virtual currency wallet is free. You do not have to fill any forms or spend time queuing.

5. Fast Transactions

Traditional transfers often take long. In fact, sending money from one continent to another may take several days. Bitcoin transfers, on the other hand, only take few minutes. By just clicking the send button, a person in Japan can receive bitcoins from a person in Brazil within a few minutes. Banks usually have working hours and are closed at night, during holidays and during weekends. With a computer or a mobile and internet connection, you are able to transact with bitcoins any time, any day.

6. Durable and Portable

You cannot damage or destroy a bitcoin. The supply of gold and silver, for instance, can be manipulated if their supply is interfered with. Traditional currencies like dollar bills can be destroyed or counterfeited.

Since bitcoins are not physical, they cannot be manipulated. This virtual currency is also very portable. This advantage gives it an upper hand over normal currencies. You need somewhere to put your money when traveling, for instance. Different countries have permissible limits of possession of cash money especially when traveling out of the country. This often hinders those interested in walking with a lot of cash money.

7. Reduced Fraud

With the use of bitcoins in transactions, there are very slim chances of fraud. Criminals often steal credit cards and withdraw money or make online purchases. Since this virtual currency is purely digital, there are no loopholes that could allow for manipulation of a person's funds. The sender can only send the exact amount of bitcoins that he or she wants and the recipient has no way of manipulating the payment in his favor. This makes bitcoins a very safe currency to transact with.

# data[].attributes.attachment_link.title
The Top 7 Benefits of Using Bitcoins Over Normal Currencies

# data[].attributes.attachment_link.description
Lately, bitcoins have become very popular. So many investors are trading bitcoins on a daily basis. The exponential growth that bitcoins experienced in 2017 is unrivaled. There was massive growth of cryptocurrencies in 2017 with about 1,100 different types of digital currencies in use as of December 2017.

# data[].attributes.headline
Website 2 - What if I Had Invested in Bitcoin Early?

# data[].attributes.subject
Website 2 - What if I Had Invested in Bitcoin Early?

# data[].attributes.attachment_link.readable_text
The "Godfather of Smart Beta", Robert Arnott, perhaps said it best, "In investing, what is comfortable is rarely profitable." The decentralized, peer-to-peer cryptocurrency system called bitcoin puts this claim to the test. The following is how you would have fared throughout the years if you had bought $100 worth of bitcoin back in 2011.

For purposes of this comparison over time, the bitcoin market value prices from the CoinDesk Bitcoin Price Index are used, and no fees or additional transactions are assumed, for the sake of simplicity. By buying $100 in bitcoins on Jan. 1, 2011, you would have benefited from a low market value of 30 cents per bitcoin and received a total of 333.33 bitcoins for your initial purchase.

Since bitcoin traded at 6 cents for most of 2010, you would have timed your initial purchase right. In this first year, you would have had your first taste of the cryptocurrency's high volatility. For a brief moment on June 8, 2011, bitcoin hit a high of $31.91, making the paper value of your investment a cool $10,636.56. By December 31, 2011, bitcoin was trading at $4.72, so you would have turned your $100 into $1,573.32.

The first day of 2012 would have welcomed you with a closing price of $5.27, bumping up your investment to $1,756.65. Throughout the first quarter of 2012, the price of bitcoin dipped below the $5 mark. It started appreciating again in May 2012, and closed at $13.51 on December 31, 2012.

Your current investment would have stood at $4,503.29. In 2012, few businesses accepted bitcoin as a form of payment. For example, bitcoin payment processor BitPay only had 1,000 businesses using its platform. One of those businesses was Utah-based Bees Brothers, so you could have purchased 450 half-pound bags of honey roasted almonds for your friends and family.

Unlike the previous year, 2013 would have welcomed you with a slight dip to $13.30, turning your investment into $4,433.29. Throughout most of this year, you would have been losing sleep over the security of your bitcoins. On March 18, 2013, the Financial Crimes Enforcement Network (FinCEN) issued guidelines for individuals using bitcoin in the United States, causing problems for many, including the Mt. Gox bitcoin exchange. The attacks by hackers against several bitcoin exchanges and the FBI seizure of more than 170,000 bitcoins from criminal online portal Silk Road caused the market price to go up and down.

As the Chinese media started promoting bitcoin as an alternative currency and Baidu began accepting the cryptocurrency as payment for some services, the price of bitcoin hit an all-time high of $1,147.25. Over some exchanges it went on to exceed $1,200 on December 4, 2013. Your paper value would have been $382,412.84. However, bitcoin did not fare well for the rest of the year, ending at $757.50 by December 31, 2013, making your investment worth $252,497.48.

The good news is that unlike previous years, in 2014, you could have spent your bitcoins at many companies, including Overstock.com, Microsoft, Dell and Time. Paying in bitcoins offers several advantages, including more convenience in mobile payments. Also, you could have withdrawn funds through an ever-increasing network of bitcoin ATMs around the world.

However, the bad news is you would have seen your investment drop and hit a rock bottom value of $309.87 per bitcoin on December 30, 2014. By the end of this year, your investment would have been worth $106,565.60, or 240 Tribecca Home Uptown modern sofas at Overstock.com.

In 2015, bitcoin showed a downward trend in price until late October, when the cryptocurrency started trading above $300 again. As of December 2015, bitcoin was trading at $413.51; at this point your investment was worth $137,835.29. This is a 137,735.29% return on your initial $100. The amount is less than half of that all-time high so far of $382,412.84 in November 2013, but still enough to buy a home in Burlington, North Carolina, where the median home value is $132,000 according to real estate marketplace Zillow.com.

The bitcoin started off at $434.46 on January 1st, 2016, and had a relatively stable first quarter. Around the end of May, however, the bitcoin soared and reached $773.94 by mid-June, the highest since 2014. The steep increase was due to sudden Chinese demand, which somewhat decreased in the following weeks pushing the bitcoin back down to $638.22 at the end of the second quarter. Add the end of 2016, your investment was $257,977.42.

In February 2017, Bitcoin broke its 2013 record and hit the $1169.04 mark (per Coinbase's price index). It hit other milestones as well, surpassing for the first time the price of one Troy ounce of gold. On November 28, 2017 it crossed the $10,000 mark and less than 24 hours later it was trading above $11,000. The price kept surging in December and hit an all-time high of $19,783 on December 17, which would have valued the investment at $6,594,267. Since then, the price has slid, trading at $10,074 on February 16, 2018, making your investment worth around $3,357,965. The price was $6,166 on June 22, 2018, making your investment worth around $2,053,278. As of February 21, 2019, the price was $3,887, making your investment worth $1,295,653.

Learn about the risks of buying bitcoin, and avoid putting all your investments in this or other cryptocurrencies. While having bought and held on to $100 in bitcoin since 2011 would have been profitable, you would have suffered a lot of stress throughout the process.

# data[].attributes.attachment_link.title
If You Had Purchased $100 of Bitcoin in 2011

# data[].attributes.attachment_link.description
The "Godfather of Smart Beta", Robert Arnott, perhaps said it best, "In investing, what is comfortable is rarely profitable." The decentralized, peer-to-peer cryptocurrency system called bitcoin puts this claim to the test. The following is how you would have fared throughout the years if you had bought $100 worth of bitcoin back in 2011.